can I qualify for Obama housing plan with private lender?

I bought a house through a private individual 4 years ago. The house was purchased for $ 400K but now only worth $ 260K. I am now struggling with the payments because of some medical bills. I tried contacting the lender to negotiate a lower price on the house but he is not being cooperative. Can I use the obama voluntary loan modification plan with this lender? If not can he foreclose on me and report it to a credit bureau?

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