In recent years, the concept of homeownership has changed from viewing property as a long-term relationship. We used to consider our homes as places where one raises their families and receive grandchildren for visits under old trees that have grown big while a mortgage has gotten smaller, even been paid off. What homes have become since is financial instruments, a place to live, yes, but also a place to be sold for profit. The housing bubble burst certainly challenges that perception, yet we are stuck with a new legacy: the home as an investment that may or may not make money.

With millions of Americans in danger of foreclosure, there is an ironic twist in all of this. Rational decisions are clouded with emotion – a sense of hopelessness and confusion over what is happening.

Loan modification programs are available through most lenders. Banks don’t really wish to foreclose on a property. But modifications require time and some expertise in the legal and financial options that might be available. Every home mortgage, the property itself and homeowner’s ability to pay comes with variables. This is why home modification firms are stepping in, to assist distressed mortgage holders in finding their best outcome. For a fee of roughly one month’s mortgage payment, loan modification specialists might be able to significantly lower the terms of a mortgage, the monthly payment – and keep the homeowner in their home for years to come.

Despite all that’s been said in this economic and housing crisis, those grandchildren might come for visits after all.