The Obama Home Affordability and Stability Program is designed to help from 7 to 9 million homeowners. If you are one of the millions of other homeowners who don't qualify under the Obama guidelines and need a little assistance then help is available.

A loan modification is when the lender modifies your current mortgage in order to work with you because of a hardship. These days, it seems like everyone is purporting themselves to be a Loan Modification Specialist. Borrowers should be wary of such loan modification mills and should only work with a company who has licensed attorneys who actually do the negotiations.

Over 2 Million American families have found themselves to be an unlikely statistic as foreclosure rates continue to skyrocket, even causing some lenders to fail. Fannie Mae and Freddie Mac needed a "bail-out" of themselves from the government. It's getting bad with yet another wave of foreclosures set to begin in 2009.

A loan modification is when the lender modifies your current mortgage in order to work with you because of a hardship. The purpose is to help make your loan more affordable.