what are the ways a loan can be modified 
a modification can help you lower the interest rate extend the loan term switch from a variable rate to a fixed rate and move missed payments to the end of the loan term any one of these actions could lower your monthly payment amount and make it easier to repay the bottom lineif you re on the brink of a loan foreclosure or default a loan modification could help you get back on your feet to find out if you re eligible for a loan modification contact your lender often a lender will find it more preferable to alter your loan than to foreclose or repossess your property 