Ten states have programs to help homeowners, primarily low- and middle-income families with unaffordable, adjustable-rate subprime loans, avoid foreclosure.

Half of the programs allow borrowers to refinance into fixed-rate mortgages. Five have programs that help homeowners catch up with missed payments and keep their existing loan. New Jersey also offers a lease-back option through nonprofits and others so eligible homeowners can stay in their homes as renters and repurchase them later.

Counseling generally is required for participants in any of these programs.

Here's a summary of how the programs work.

Remember -- interest rates can fluctuate and programs can change. Sometimes they are suspended because of a lack of funding. (Michigan suspended two refinance programs this summer while keeping an emergency loan program.) Sometimes the programs are slow to get under way after they are enacted into law.

It's always best to call for the most up-to-date information.

To find out more and how to contact each program, click on the highlighted name.

CALIFORNIA: CalHFA Loan Modification Program

Loan terms: California Housing Finance Agency mortgage holders may have their loan terms extended up to 480 months (40 years).

Costs that can be financed: Some or all delinquent accrued interest and other amounts are capitalized and added to the unpaid principal balance.

Interest rate: May be reduced to 3.00% at the discretion of CalHFA.

Eligibility: Home must be an occupied primary residence. Total net monthly household income generally must be between $190 and $250 more than expenses. Financial hardship must be documented, and you cannot be in bankruptcy.

Status of existing loan: 60 days or more delinquent.

CONNECTICUT: CT FAMLIES and Emergency Mortgage Assistance programs

CT FAMLIES Program

Loan terms: 30-year, fixed-rate mortgage for those delinquent on their fixed-rate or adjustable-rate mortgages. A second mortgage of up to $15,000 also is available to some borrowers to pay for appraisal gaps or liens.

Costs that can be financed: Closing costs and other related expenses, if qualified.

Interest rate: Prevailing Connecticut Housing Finance Authority home buyer rate.

Eligibility: Must have a delinquent, non-FHA-insured fixed-rate or ARM and live in the property as a primary residence. Income limits apply, based on location and size of household.

Status of existing loan: Any late payments over the last 12 months must have been caused by higher interest rates or documented financial hardship. Borrowers may still be eligible if other recurring monthly debts have been missed because of higher mortgage rates.

Emergency Mortgage Assistance Program

Loan terms: Emergency assistance for up to 60 months consecutively or nonconsecutively, backed by a 30-year, fixed-rate mortgage. No interest is charged until repayment begins when borrower's finances allow, based on a review.

Costs that can be financed: Existing mortgage is brought up to date; homeowner pays a portion of the mortgage each month thereafter, and CHFA pays the difference to the lender.

Interest rate: Set when repayment begins.

Eligibility: Must be 60 days delinquent or anticipate being delinquent or have received a notice of intent to foreclose on or after July 1, 2008.

Status of existing loan: Must be a non-FHA-insured mortgage on a primary residence. Cannot own other real estate. Cannot have had more than three 30-days-late payments in the previous two years or ownership period.

DELAWARE: Delaware Emergency Mortgage Assistance Program

Loan terms: Second or third fixed-rate mortgage of up to $15,000 to help cover the first mortgage. There are two types: a noncontinuing loan is a one-time payment to reinstate the delinquent mortgage; a continuing loan will reinstate the delinquent mortgage and assist the homeowner with mortgage payments up to 12 months from the date of delinquency. Payments are deferred until the title changes hands, the property is refinanced or the 30-year term expires.

Costs that can be financed: Delinquent payments and fees and real estate taxes.

Interest rate: 3%.

Eligibility: Maximum household income of $81,420 to $89,470, depending on location. Applicant must have incurred a financial hardship beyond his or her control and must demonstrate a reasonable expectation of being able to resume mortgage payments. Home cannot have more than two existing mortgages.

Status of existing loan: Must be at least 90 days or more delinquent and have foreclosure notice.

MARYLAND: Lifeline Refinance Mortgage, Homesaver Refinance Mortgage and Bridge to HOPE Loan Program

Lifeline Refinance Mortgage

Loan terms: 30- and 40-year, fixed-rate loans for up to 103% of the home's value if mortgage insurance premium is financed. Maximum combined loan-to-value cannot exceed 110% with all second mortgages, including forgivable grants.

Costs that can be financed: All closing costs, including prepayment penalties on existing mortgage and points.

Interest rate: 7.75% (30-year), 7.875% (40-year) with no points paid.

Eligibility: Must be a primary residence. Income limits vary by county, ranging from $85,500 to $143,780. Maximum appraised value limits also vary by county, ranging from $289,470 to $525,091. Minimum representative credit score is 600. Existing loan must have been made after Dec. 31, 2001, and before Jan. 1, 2008.

Status of existing loan: Must be current.

Homesaver Refinance Mortgage

Loan terms: 30- and 40-year, fixed-rate loans, up to 105% of the home's value. Maximum combined loan-to-value cannot exceed 110% with all second mortgages, including forgivable grants.

Costs that can be financed: All closing costs, including prepayment penalties and points.

Interest rate: 8.0% (30-year) and 8.125% (40-year) with no points.

Eligibility: Must be a primary residence. Income limits and appraisal values vary by county (see Lifeline details above). Minimum representative credit score is 580. Existing loan must have been made after Dec. 31, 2001, and before Jan. 1, 2008.

Status of existing loan: Not more than two months past due.

Bridge to HOPE Loan Program

Loan terms: Short-term, no-interest loan of up to $15,000 to cover missed mortgage payments. Repayment is deferred until the house is sold, transferred or existing loan is refinanced.

Eligibility: Must be primary residence. Must have stable employment and a good mortgage and credit history.

Status of existing loan: Delinquent or in danger of becoming delinquent.

MASSACHUSETTS: Home Saver Foreclosure Prevention Program

Loan terms: 30-year, fixed-rate loans up to 105% of the current appraised value of the home. Maximum home values apply, up to $417,000 for single-family homes.

Interest rate: 7.875% for both first and second mortgages (subject to change).

Eligibility: Borrowers who used a subprime mortgage to cash out equity are not eligible. Income limits range from $87,480 to $113,805, depending on location. Must be employed with sufficient, verifiable income. Credit score can be as low as 560.

Status of existing loan: No more than 60 days delinquent at closing.

MICHIGAN: HELP Loan

Loan terms: No-interest, emergency loan of up to $3,000 available to Michigan State Housing Development Authority mortgage holders. Repayment is required when the property is sold or transferred, ceases to be the borrower's principal residence or if the borrower defaults.

Costs that can be financed: Delinquent amount on the mortgage and the cost of the nonrecurring event or crisis that resulted in nonpayment of the existing loan.

MISSOURI: Refinance Loan Program

Loan terms: 30-year, fixed-rate loans. Refinancing must result in a new principal and interest payment at least $100 per month lower than the existing payment, or the interest rate must be lowered by 1%. If these requirements are not met, refinancing is still permissible if the existing mortgage is an ARM or balloon. Appraised value must not exceed the maximum purchase price limit of $258,690 for single-family homes in nontargeted areas or $316,177 in targeted areas. Loans are made through participating lenders.

Costs that can be financed: A second mortgage of up to 3% of the appraised value can be obtained to help with closing costs.

Interest rate: 6.15% (subject to change).

Eligibility: Must be owner-occupied, single-family property. Minimum FICO score of 500. Must get face-to-face counseling from HUD-approved agency. Income limits range from $81,620 to $98,560.

Status of existing loan: No more than one 30-days-late payment in previous 12 months.

NEW JERSEY: Mortgage Assistance Program, Mortgage Stabilization Program and Housing Assistance and Recovery Program

Mortgage Assistance Program

Loan terms: 0% interest, nonamortizing (no monthly payments) loan of up to $20,000 available to those in imminent danger of foreclosure because of short-term financial hardship. Repayment occurs when the home is sold, transferred, refinanced or ceases to be the borrower's primary residence.

Eligibility: Income limits apply. Must have a loss of income due to circumstances such as unemployment or medical condition or be in danger of foreclosure or homelessness due to inability to pay the existing mortgage. Cannot be in bankruptcy.

Status of existing loan: 60 days or more in arrears.

Mortgage Stabilization Program

Signed into law earlier this year, this program is awaiting the training of loan counselors, according to the New Jersey Housing and Mortgage Finance Agency.

Loan terms: Nonamortizing (no monthly payment) second mortgage of up to $25,000, available once the homeowner's first-mortgage lender agrees to modify or refinance the existing loan. Both the state and the lender then would provide second mortgages to cover the difference between the new first mortgage and the appraised value of the home or the outstanding principal balance of the existing loan, whichever is less. Repayment would occur when the home is sold.

Interest rate: Same as first mortgage.

Eligibility: Income limits apply. Applicants must have exhausted other means of assistance and must be in imminent danger of losing their home. Property can be a single-family primary residence or owner-occupied two- or three-family home. Must have lived in the home for at least a year.

Housing Assistance and Recovery Program

Terms: Lease-back program offered through eligible nonprofit or public sponsors to acquire and lease back the homes of income-eligible homeowners in imminent danger of foreclosure. The homeowners would be able to repurchase the homes later at more affordable prices.

Eligibility: Must have lived in the home for at least one year. Property can be a single-family or two- or three-family owner-occupied residence. Must meet certain criteria involving loss of income, foreclosure or default on existing mortgage. Must have exhausted other financial resources. Cannot be in bankruptcy.

Status of existing loan: 30 days or more in arrears.

NORTH CAROLINA: Home Protection Program

Loan terms: No-interest loan of up to $24,000. Can be a one-time payment to bring mortgage current, short-term assistance of up to nine months for a job search or long-term assistance of up to 24 months (or up to $24,000) to attend training programs. Includes temporary stay of foreclosure of up to 120 days. Repayment is deferred for 15 years, unless the home is sold, refinanced or is no longer the borrower's principal residence.

Costs that can be financed: Mortgage-related debts, including first and second mortgage payments, property insurance, homeowner dues and property taxes.

Eligibility: For workers who lose jobs because of changing economic conditions, such as a plant closing, or whose income has been reduced by 50%. Must have a history of stable employment and credit. Must demonstrate an ability to resume mortgage payments once assistance ends.

PENNSYLVANIA: Refinance to an Affordable Loan (REAL) Program, Homeowners' Equity Recovery Opportunity (HERO) Program and Homeowners' Emergency Mortgage Assistance Program

Refinance to an Affordable Loan Program

Loan terms: 30-year, fixed-rate loan up to 100% of home's current appraised value.

Costs that can be financed: Closing costs, prepayment penalties, delinquent property taxes and delinquent payments from the 12 months following an interest rate reset and payment increase on existing loan.

Interest rate: 7.375% to 7.625%.

Eligibility: Combined gross annual income of all borrowers cannot exceed $120,000 (with exceptions). Total monthly debt payments (including REAL mortgage payment) must be less than 50% of gross monthly income (or less than 45% for borrowers with a credit score below 620). Must have a credit score of at least 620 or meet all of the following conditions: a maximum of two 30-days-late payments in the 12 months after the interest rate increased or no late payments in the 12 months prior to the reset; and, must have no more than three 30-days-late payments on other credit obligations in the 12 months prior to the mortgage adjustment.

Status of existing loan: Up to 59 days delinquent.

Homeowners' Equity Recovery Opportunity Program

The Pennsylvania Housing Finance Authority buys your loan directly from the current lender and offers a more affordable repayment agreement. It's designed for homeowners who aren't eligible for the REAL program, because their credit scores are too low or they owe more than their home's current appraised value.

Loan terms: Fixed-rate mortgage for up to 30 years and 100% of home's current value. Property taxes and insurance (mortgage, homeowner's and flood, if applicable) are included in the monthly payment. PHFA also may negotiate with current mortgage lender to reduce the amount owed on the property.

Costs that can be financed: Closing costs, prepayment penalties and delinquent property taxes.

Interest rate: 7.95%.

Eligibility: The combined gross annual income of all borrowers may not exceed $120,000 (with exceptions). Sufficient and stable income to support timely repayment of the HERO loan through monthly payments automatically drafted from your bank account. Must be a primary residence.

Status of existing loan: If payments are past due, borrower must demonstrate how the payment amounts have been escrowed, saved or redirected.

Homeowners' Emergency Mortgage Assistance Program

Loan terms: Up to $60,000 or 24 months of assistance, whichever comes first. Loans can be noncontinuing (mortgage is brought current to a specified date) or continuing (mortgage is brought current and subsequent payments are subsidized). Recipients are required to pay up to 40% of their net monthly income toward housing expenses. Repayment is set based on income but must be at least $25 per month.

Interest rate: 9% or less, depending on household income repayment calculation.

Eligibility: Property must be owner-occupied single- or two-family residence. Borrower must demonstrate financial hardship and have a good prior credit history and a reasonable prospect of being able to resume mortgage payments within 24 months and pay the loan in full at maturity.

Status of existing loan: At least 60 days delinquent.

By Kathy O'Gorman

Interest.com Contributing Editor