Many people would do everything to prevent foreclosures from happening. Foreclosure is the last thing you want to see happen. You might have heard about mortgage Loan Modification. Loan modification is the easiest, fairest, and the most effective way to avoid foreclosure since December 2008. Both homeowners as well as lenders can benefit from mortgage modification. Let me here explain how mortgage modification works. Lenders such as banks reduce interest rates or extend the terms of loans to allow homeowners to pay homeowners loans. It is in the best interest of a homeowner to make sure that he has more time to pay his loan. It is also important for lenders to make sure that they are going to receive their money at some point rather than not receive it at all. It is a win-win situation for both sides. Homeowners have a chance to keep their homes, while lenders receive the money instead of taking a house. More and more people in the United States use mortgage loan modification programs to save their homes from foreclosure. In 2009, a few million homeowners applied for mortgage modification to save their homes and the number is growing.