Are Loan Modification Programs a Good Alternative to Stop Foreclosure?

There are few things as stressful as having the threat of foreclosure looming over you. When you reach the point where you are facing possible foreclosure the negative reflection on your credit reports as a result of the delinquent payments ensure that most of the options to help you out of the financial hole you are in, such as refinancing or personal loans, are not available to you. In the last year there is a new option that could stop foreclosure proceedings dead in their tracks - literally. Once you apply for loan modification, in many cases the foreclosure process is stopped right away.