Mortgage Co's are modifying Mortgages with adjustable rates????

WTF. I have been out of work, my wife became disabled. I asked my Mortgage CO to modify my mortgage. It too a year. Now they sent me an agreement, it is an adjustable rate? I couldn't believe it, it drops my payment by 300 dollars for the first few years then ajusts the interest rate several times over the years to more than i was ever paying. I guesswe did not learn the lesson of the Subprime.