With the onset of the recent Home Affordable Program, mortgages modification is within reach for a much larger number of American homeowners. Through loan modification, homeowners with a financial hardship will receive a loan that is more affordable to them, but only if they qualify. Qualification requires that the homeowner show a financial hardship, as well as prove that they could withstand payments of a modified mortgage. When mortgages are placed through modification, one, some, or all of these aspects of the loan are changed favorably - interest rate, amortization, principal (forgiven), or length of loan. Unfortunately, although mortgage modifications have allowed homeowners to reap quite helpful benefits, the program has also brought with it a number of illegitimate companies who claim to offer loan modification, only to scam homeowners for money, or even worse, their home. Homeowners seeking loan modification are advised to watch out for the false companies that prey on needy homeowner.