While assisting a client with foreclosure or a loan modification, I find that each homeowner’s situation in unique. My advice for those considering a loan modification or facing foreclosure is to familiarize themselves with all the alternatives and resources available to them. For those homeowner’s who don’t qualify for federal relief programs, options can be more limited. However, I have been tracking something called “shared appreciation modifications,” which involve a reduction of the principal loan amount which can provide a significant impact on a borrower’s monthly mortgage payment. This article describes this foreclosure prevention tool in detail. Let me know what you think!