Created On: Monday, 16 Mar 2009, 7:16 AM MDT

- Thousands of families across the valley are struggling to make their monthly house payment.

That means foreclosure for many – or does it?

The most common modifications: lowering the interest rate of your home, reducing the principal balance, fixing the adjustable interest rate, increasing the loan term or forgiving payment defaults and fees.  All of them sound great, but the people offering to help you may not be.

FOX 10’s Diane Ryan has more on mortgage modification programs and if they’re worth the time.

For more information, contact Jay Luber at 602-953-7661 or e-mail: jluber@galaxylendinggroup.com

Arizona Attorney General’s Foreclosure Help web site: azag.gov/consumer/foreclosure

You can also check the White House Loan Refinancing/Modification site at http://www.financialstability.gov/