Loan modifications have become a major focus for homeowners, for the government, for banks and for other interested parties. Although loan modifications have been around for some time, the renewed focus on them stems from their ability to combat the wave of foreclosures which have cropped up over the last two or three years.

A loan modification is a negotiation between the homeowner and the lender where the terms of the home mortgage loan are changed so that the borrower gets a lower monthly mortgage payment. This is done to keep the homeowner free from foreclosure. A loan modification can be achieved by lowering the interest rate on the loan temporarily or permanently, getting any late fees eliminated, getting a principal reduction on the loan or some other option.

Using a skilled California loan modification attorney is probably the best way to go about getting a California loan modification. However, there are options available to people which do not involve a California loan modification attorney. Many of these options are foolhardy though, because they do not involve a skilled professional. One such option is the "Do It Yourself" items that are popping up all over California.

The do it yourself options include books, different types of software, seminars, infomercials and more. They state that you do not need a loan modification attorney, a loan modification company or anyone else to help you get a quality loan modification. However, what these products fail to mention is loan modifications often fail if the loan modification application is not properly filled out. Thousands of Americans have had their loan modifications fall apart because they did not have an experienced professional helping them in the process.

For example, a new loan modification do it yourself kit seems to pop up every week, getting people to fork over $97 or more for a e-book, a CD or some other product that might have a great deal of information, but that lacks any real instruction. While few doubt the information on these kits, they lack the kind of tailored approach necessary to get a good response from banks and lenders. Some of these kits simply steal information from loan modification attorney websites and pass off the copied information as their own. They can put people into dangerous situations by making them think they have the tools necessary to save their homes, when instead they have made no progress.

These loan modification kits are not regulated, and are often sold by people just looking to make a quick buck. Some are sold for as little as $19.95, which sounds like a great deal. However, a kit can't make phone calls to your lender for you, can't help you fill out your application for you and can't help you negotiate with your lender when they are playing hardball. All a kit can do is make you feel like you've got a chance. It's like giving someone Paper Mache armor to go out to battle.