Call Harold Entes in Bronx, NY at (718) 828-3070 today to learn about loan modifications! A loan modification is an agreement with your lender to change the terms of your loan to make the payment more affordable.Get expert loan modification assistance in the Bronx. Contact Law Offices of David Brodman for a free consultation today! The lender may agree to adjust the terms of the loan to make it affordable. A loan modification enables you to negotiate with your lender to reduce your interest rate, extend the loan, or even entirely change the type of loan. A loan modification is just like it sounds. With a loan modification, you keep the same agreement, but you change the terms to make your mortgage payments affordable. They will tell you exactly what is needed to prepare the loan modification. I live in NYC and was just approved for a loan modification.