We work with you and your lender in a win/win solution through the loan modification process. The loan modification is a change in the loan contract terms, such as the loan amount or interest rate, agreed to by the lender and the borrower. The common modifications right now are those made to reduce the loan amount to offset the depreciation in the home value and modifications to reduce the payment burden on borrowers faced with impending interest rate increases that will make monthly payments unaffordable.