Q: When I’m driving to work, it seems like every five minutes I hear another advertisement for loan modification services on the radio. I’m not behind on my mortgage, but it is set to adjust next year — will my mortgage company actually work with me to stop that from happening? I’m also upside down by about $75,000 — will they reduce the amount I owe, too? If so, will they charge me points like when I refinanced? Can I do it myself or do I need to hire one of those services?

A: Believe me — we’ve all heard those ads! And they are not all scams. Loan modification is a legitimate possibility, and there are do-it-yourself options as well as legitimate loan modification consultants with successful track records at helping their clients obtain modified mortgage terms that work for them.

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