More help is on the way to keep struggling homeowners in their homes.

Texas Attorney General Greg Abbott and six other state attorney generals reached a nearly $8 billion agreement with Countrywide Financial Corp.

The settlement involves an extensive loan modification program that might bring down your mortgage payment.

“Today’s agreement will help keep struggling homeowners out of foreclosure and in their homes,” Attorney General Abbott said. “Under the loan modification program negotiated by the states, Texas families can benefit from frozen or reduced interest rates, loan term extensions and conversions to fixed rate mortgages. As a result, this agreement not only assists homeowners, but also helps shore up communities and markets that have been affected by the residential mortgage lending crisis.”

Under Monday’s agreement, Bank of America will spend $150 million nationwide to assist homeowners who have already lost their homes. The lending giant will spend up to $70 million to homeowners who, despite the loan modification program, are ultimately unable to keep their homes.

Texans who are in default or likely to default on sub-prime mortgages issued by Countrywide could be eligible to participate in the extensive loan modification program.

Through this program, eligible borrowers will be able to modify the terms of their loans to make monthly payments more affordable and allow more borrowers to stay in their homes.

Consumers are urged to call (800) 669-0102 to find out if they qualify.