This is post about how mortgage modification works. It can lies on the following two steps as described as under.

The Borrower Requests the Modification :-
Loan modifications for mortgage loans used to be a quick way for borrowers to request a lower interest rate without going through a complete refinance. Not all mortgage companies offered loan modifications, and those that did offered them for a fee--and usually only to borrowers who had mortgages that hadn't already been packaged and sold to another company.

The Lender Considers the Request :-
Mortgage lenders do not have to automatically approve a request for a loan modification. Many lenders have stringent guidelines regarding who can be approved for a modification and who cannot, even if the homeowner is facing foreclosure..

After that loan company makes the decision whether to approve or deny the modification request.

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