PRG is a Mortgage Broker in Chula Vista, with a BBB rating of "F". That should tell you how "real" they are.
Here's a sad story from Trulia on Dec 16, 08:
This sounds like exactly the type of company to steer away from. Seems like many are coming out of the woodwork - many are "former" liar loan specialists, who were instrumental in causing our nation's present financial crisis.
As Tony has answered, you can do a loan modification yourself. You should start with talking to your lender, to see what they might offer. Also, as of March 4th - next Wednesday - lenders should have guidelines, imposed by the administration in its Homeowner Affordability and Stability Program, to further assist troubled borrowers - especially those who want to stay in their homes.
The paperwork MAY be daunting, so an advocate - neutral 3rd party - may be able to not only help with that, but be able to negotiate better with the lender.
There are at least two attorney backed companies lurking here on Trulia in a big way. Take what they say with a grain of salt, and get at least one other opinion. Do NOT fall for a "pay in advance" solution. Any agent or company worth their salt should be able to take your case on a contingency basis.
Some Realtors have some experience in this situation and might be able to assist you for nominal fee, with "satisfactory results completed". But I would definitely wait until the President's new program is fully up and running - probably within a week, before commiting to anyone, for help.