Final answer:
The most likely indication of a loan modification scam is when a client receives a letter from a company guaranteeing a loan modification.
Step-by-step explanation:
In this situation, the most likely indication of a loan modification scam is option B - The client receives a letter from a company guaranteeing a loan modification.
This is because legitimate housing counseling agencies, like the one mentioned in option A, will provide information about possible workout options but will not guarantee a loan modification. Option C, where the client's lender defers some principal to reduce monthly payments, is a common practice in loan modifications. And option D, where the lender offers to reinstate the loan by establishing an affordable monthly payment plan, is also a legitimate solution.
However, option B is suspicious because a company guaranteeing a loan modification without any qualifications or specific information is likely a scam. Legitimate loan modification processes require a thorough review and assessment of the individual's financial situation before determining the feasibility of modifying the loan.