Home loans modification is a series of actions that are taken to restructure a homeowners mortgage, making the loan more affordable by presenting improved terms. When a homeowner has become unable to pay their loan, various services may be willing to offer this option as a means of avoiding foreclosure. To apply, homeowners will need to request for loan modification from one of the providing services. If loan modification is possible, the homeowner will enter into an extensive process, during which their financial ability will be assessed to create an affordable loan loan. After a person's finances have been assessed and approved for modification, the servicer will make an effort to restructure the loan - refinancing, skipping payments, changing the interest rate, forgiving parts of the loan, or extending the loan are the most common methods used. At a government level, loan modification is sponsored through programs such as Making Home Affordable (MHA) or the government-sponsored Fannie Mae agency. These government programs can offer great benefits for homeowners that are currently facing foreclosure.