Loan Modification Lawyers in Ogden, Salt Lake City, and Utah County. The mortgage modification agreement is a legal document between a lender and borrower to change an existing loan's terms.Who Qualifies For A Loan Modification? Call Ascent Law LLC (801) 676-5506 for your Free Consultation. Find mortgage loan modification agreement lawyers for Salt Lake City, UT to hire. Our legal team can work with your mortgage company to modify the terms of your original agreement or promissory note with a loan modification. Loan modifications are changes made to an existing loan's terms beyond the specifications of the original agreement. Step 2: Reach out to your lender. Loan modifications typically involve a reduction in the principal balance, interest rate or an extension of the length of the term of the loan. A loan modification agreement is different from a forbearance agreement.