Remember those videos that taught do-it-yourselfers how to flip homes? They’re no longer hot sellers in this down market, but some Calabasas real estate industry veterans are rolling out a product they think is better suited to today’s reality: a package that helps homeowners rewrite their mortgages.

LoanModDVD has produced a disc it sells online that helps homeowners prepare loan modification packages. Just be prepared to shell out $99.

“Right now lenders are inundated with modification requests,” said Maz Badie, a real estate broker and LoanModDVD partner. “The number of people paying attorneys or accountants $3,000 to $5,000 to prepare a modification package is increasing every day, but they can do the same for 100 bucks.”

The DVD includes a software program that uses monthly income and expenses to calculate the interest rate a homeowner qualifies for under the government’s new Homeowner Affordability & Stability Plan, which set aside $75 billion to help up to 9 million homeowners avoid foreclosure. A goal of LoanModDVD is to help homeowners get a low refinancing rate.

But experts warn against do-it-yourself mortgages. Erik Syverson, a real estate attorney in Los Angeles, likened homeowners who prepare their own loan modification proposals to people who represent themselves in court. “The typical do-it-yourself kit isn’t going to make up the difference between a trained legal professional and an average homeowner,” he said.

Syverson also said scam artists abound. He estimates 90 percent of loan modification companies are illegal because they ask for up-front money and lack proper registration with the state.