A Mortgage Loan Modification 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. In general, any loan can be modified and you can get a modification at any time as long as both parties agree to it. 

Very often my clients are offered a loan modification from the bank even though my clients have not applied for one. I would like to think that this is because I put pressure on the bank by aggressively representing my clients. Since I used to represent banks in negotiating modifications with borrowers I can effectively do that for my clients now.