Mortgage Loan Modification is the only solution to save your home and stop foreclosure. As of last month, lenders had sent out more than 571,000 offers to reduce borrowers' monthly payments, the Treasury Department said Wednesday.

Treasury says 58 mortgage companies are now involved in the program, up from 38 in July. The companies have requested financial information from almost two-thirds of eligible borrowers and say they are on track to have 500,000 loan modifications in place by the end of the year.

Borrowers can receive rates as low as 2 percent for five years. Eligible borrowers have to provide their most recent tax return and two pay stubs, as well as an "affidavit of financial hardship" to qualify.

But some borrowers are in such dire financial shape that they don't know if getting a modification will be the magic bullet. Steve Rudolf, 62, a talent agent in Tampa, Fla., has managed to get a modification on his $124,000 home equity line More Info