The process for a customer to request a loan modification due to financial hardship varies depending on the lender or mortgage servicer. However, here's a general outline of the steps involved: 1. Contact your lender or mortgage servicer: Reach out to the company that services your loan and explain your financial situation. You can do this by phone, email, or through their website. Make sure to have your account number handy. 2. Submit a loan modification application: Your lender will likely provide you with an application form to fill out. This form will ask for detailed information about your income, expenses, and the reason for your financial hardship. Be prepared to provide documentation supporting these claims. 3. Provide required documentation: The documentation required may vary depending on the lender but typically includes proof of income (pay stubs, tax returns), bank statements, and a hardship letter explaining the reasons for your financial difficulties. You may also be asked to provide information about your assets and liabilities. 4. Wait for a response: Your lender will review your application and documentation and decide whether to approve or deny your request for loan modification. This process can take several weeks or even months, so be patient. 5. Negotiate the terms of the loan modification: If your request is approved, you'll need to work with your lender to negotiate the terms of the modified loan. This may include extending the term of the loan, reducing the interest rate, or changing the payment schedule. 6. Sign and return the loan modification agreement: Once you've reached an agreement with your lender, you'll need to sign a formal loan modification agreement and return it to your lender. At this point, your loan will be officially modified, and you can resume making payments under the new terms. Remember that each lender has its own policies and procedures for handling loan modifications, so it's important to follow their specific instructions and provide all required documentation promptly.