In my neighborhood at least four families were recently in danger of losing their homes.  The local plant had a massive layoff at the same time mortgage payments doubled for some families.  These people had gotten their homes during the housing boom and had taken advantage of low adjustable mortgage rates.  Several were unable to make their mortgage payments and were getting ready to move when they found loan modification help.  With the assistance of this new program, their mortgages were refinanced, giving them better rates and terms.  Most people are beginning to find jobs and so far, thanks to the new mortgage programs, no neighbors have had to leave.