A growing number of lenders are willing to consider loan modifications for homeowners who are having difficulty meeting their mortgage obligations on their primary residence. If you fall into this category, you should contact your lender to discuss this option.

These loan modifications are considered on a case-by-case basis. The information you will need to supply to your lender is your loan number, income information and documentation, most recent mortgage statement, bank statements and a letter demonstrating your financial hardship.

There are also a couple programs designed by the federal government to help struggling homeowners modify their loans. Here is information on these programs, as well as pertinent information on four of the major lenders.