Government home loan modification programs are being offered under the HAMP, or Home Affordable Modification Program.  We are told that some borrowers are getting approved for a loan-workout with mortgage rates as low as 2 % for five and even 10 years for qualify homeowners.  Many mortgage lenders are offering 30-year fixed rates at 5% with no points.  No cost mortgage refinancing requires stellar credential though. Both bankers and mortgage counselors agree that if you’re considering a home refinance, do your homework. Check with your current mortgage holder.  We suggest shopping online for the best refinance loan. If you do not qualify then consider a loan modification from an attorney backed loan modification company.