There's nothing easy about getting your mortgage modified or refinanced to avoid foreclosure.

But help is available, if you know where to look.

Where to start depends on why you're in trouble.

Do you have an adjustable-rate mortgage with payments that have risen so far, so fast you can't possibly afford them?

Or are you in trouble because you lost your job in the recession and don't have enough savings to keep up with your bills?

Here's what to do if you have:

AN UNAFFORDABLE ADJUSTABLE-RATE LOAN.

President Obama's Making Home Affordable program was designed for you.

Its goal is to lower payments to no more than 31% of the borrower's income -- down from the 38% goal of many previous foreclosure-prevention programs.

To qualify,your loan must be owned or guaranteed by Fannie Mae or Freddie Mac -- the two government-owned companies that provide most of the money banks and mortgage companies use for home loans.

To find out, call the mortgage servicing company you send your check to each month or contact:

• Fannie Mae at 1-800-7FANNIE (8 a.m.-8 p.m. EDT) or go online.
• Freddie Mac at 1-800-FREDDIE (8 a.m.-8 p.m. EDT) or go online.

Homeowners who clear that hurdle will fall into one of two programs:

Home Affordable Modification is for borrowers who are behind on their payments or in danger of missing payments and facing foreclosure.

That's where the lender agrees to lower the monthly payments by reducing the interest rate, extending the length of the loan or even forgiving some of the debt. It will last until the end of 2012.

Home Affordable Refinance is for borrowers who are current on their payments but can't refinance out of high-cost loans because they don't have enough equity.

This moves you into an entirely new, fixed-rate loan and will end in June 2010.

Although they've been more successful than any previous private or government program, getting a mortgage refinanced or modified through Making Home Affordable is still not easy.

There have been two main problems:

• Too many families can't qualify because they are carrying much more debt than anyone could possibly afford on their current income and owe far more than their homes are worth. They need more help than the program was designed to provide.
• The banks and mortgage servicing companies that must make the program work haven't hired enough staff to deal with the crush of applicants or shown much enthusiasm for the effort.

Critics say that's because they make such huge fees from the foreclosure process.

But unlike previous programs, the Obama plan tries to tip the scales in favor of borrowers by reimbursing lenders for at least some of the losses they incur when reworking at-risk mortgages.

Here's what you should do if you've...

LOST YOUR JOB AND ARE OUT OF MONEY.

Making Home Affordable was not intended to help families who have no job, new jobs that pay much less than their old ones or fixed-rate loans.

You'll have to persuade the bank or mortgage servicing company to help you without any help from the government.

Our step-by-step advice on how to negotiate with your mortgage company can tell you what to ask for and expect from your lender.

If you're lucky, you'll qualify for what's called forbearance. That allows you to make partial or no payments for up to six months with the understanding that you'll have to make up the difference later.

You might also qualify to have your mortgage modified to reduce the payments.

But obtaining such concessions from your lender will be a long and arduous process,and you could use some professional help.

A reputable credit counselor can evaluate your finances, devise a plan to restructure your mortgage and take that plan to your lender.

We recommend someone affiliated with the National Foundation for Credit Counseling, the nation's biggest and oldest credit-counseling organization.

Here's where to locate an NFCC member in your area.

Bankruptcy attorneys can also negotiate with your lender and offer the legal advice you may need.

Filing for bankruptcy stops the foreclosure process and gives you time to catch up on payments. While bankruptcy judges cannot modify your mortgage, they can reduce other debts, freeing up money to spend on your mortgage.

If you think you might qualify for free legal aid, visit www.findlaw.com to locate help in your area.

If you don't qualify for free legal help, a bankruptcy lawyer will cost anywhere from $2,000 to $5,000, depending on the complexity of your case and where you live. However, many will accept a modest down payment and let you pay the balance over time.

To find an attorney who's an expert in this field, use the locator created by the American Board of Certification, a nonprofit group that tests and accredits bankruptcy lawyers.

By Sally Herigstad

Interest.com Contributing Editor