A loan modification is a great alternative to foreclosure. LoanMod.com (aka Mizna) helped me complete a loan mod with my current lender. Of all the companies I researched to help me avoid foreclosure, loanmod.com was the most credible and even has a feature in this month's issue of Forbes:

http://www.forbes.com/entrepreneurs/forbes/2008/0721/058.html

Two tips I would give other struggling homeowners looking to modify their loan is that (1) non-profits are hopeless and you get what you pay for, and (2) if a loan modification company does not have a mailing address on their website, then forget about it. There are so many scams going on out there that borrowers should be vigilant and not trust every company that claims to do loan mods. You want to make sure you’re working with real people who care. The folks at Mizna definitely care about homeowners and they did wonders for me. Check them out at http://www.loanmod.com I hope this helps!