From Consumer Wiki
Mortgage modification or "Loan Modifications" is a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower (i.e mortgagor and mortgagee). In general, any loan can be modified.
The US Department of Housing and Development have created a website dedicated to inform consumers regarding Loan Modifications - Loan Modification, Frequently Asked Questions
U.S. Department of Housing and Urban Development
451 7th Street S.W., Washington, DC 20410
(800) FED-INFO (1-800-333-4636)
(202) 708-1455 TTY