The purpose of the Modification Agreement is to resolve the delinquency in your Loan. Defining the details of a loan modification agreement is essential for any successful process.Our free templates and this guide can help you get started. The mortgage modification agreement is a legal document between a lender and borrower to change an existing loan's terms. Texas Mortgage Modification Laws. In Texas, you can make an agreement called a mortgage modification with your lender to modify the existing terms of your loan. A Modification still must be documented correctly to be enforceable and to maintain the lender's original lien priority. HAMP is a voluntary program that supports servicers' efforts to modify mortgages, while protecting taxpayers' interests. All you have to do is call us at (866) 545-9070 and say that you would like to discuss a loan modification. The information below will help you prepare.