Since the Great Recession began in 2007, nearly 6 million families have faced foreclosure proceedings. In an effort to stem that tide, many independent mortgage servicers and the federal government have developed a variety of loan modification programs. A loan modification may involve a reduction in a homeowner’s interest rate, an extension of loan terms, a different type of loan, or any combination of these remedies. Understandably, people facing foreclosure eagerly seek the relief these programs can provide, especially if it means they can avoid losing their home. Unfortunately, the marketplace is ripe with scam artists poised to take advantage of vulnerable, and often desperate, homeowners. If you’re worried about foreclosure, or are interested in modifying the terms of your existing mortgage, there are safe and reliable agencies that can help you understand your options.