The New York Post has the amount at $525k. I can't put the link in at the moment, but it's a better read than the original link.
The source article has they usual story - over leveraging from the get go to run a failed business with added health issues to boot. It's the templated excuse for excess. "I tried, but could not make it... cough, cough, hack, hack, now you need to lower what I took from the bank or my lawyer here will come after you"
It raises the question again: Should a bank act in the better interests of it's shareholders and depositors, or in the better interests of the homedebtor first? I'm no fan of banks and their actions, nor do I like seeing everyone getting a pass for their poor decision making, but the result of this kind of decision will cause every upside down home owner to lawyer up if they get a whiff of push back on their mod request.
My .02c
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