I just came to know about the fact that, on March 4, 2009 President Obama launched his “Foreclosure Prevention Program” which gives homeowners a new option – Loan Modification. As far as I know, this program will be effective until the end of 2012. It will help the homeowners to modify their loans. I think this is a brilliant idea, keeping the current scenario in mind. Many homeowners are trapped in their current loan, and desperately want some way to modify it to suit the current economic situation. This new proposal will help such people out greatly. I plan to tell my relatives about it, as they are requiring such a program.