A loan modification is a procedure which allows you to either permanently or temporarily change the terms of your lending agreement. Real Estate Services Forms.Note: These documents must be prepared in accordance with ORC 317.114 - Standard format of instruments to be recorded. We can negotiate with your lender to help you obtain an affordable loan modification and may be able to save your home from foreclosure. Forms and applications for general courts, protection orders and garnishment. The mortgage modification agreement is a legal document between a lender and borrower to change an existing loan's terms. A mortgage modification can extend your mortgage loan term or lower your interest rate which can help homeowners afford payments or avoid foreclosure. Print the form and fill it out manually, making sure to fill out all applicable fields. A first mortgage lender risk losing its lien priority to a junior lienholder if the lender enters into a loan modification agreement? To begin the process of modifying your mortgage loan, reach out to your lender and explain your situation.