Hardship assistance in the form of loan modifications has been available for years, but it's the topic of conversation now more than ever since the Making Home Affordable (MHA) Act was introduced by President Obama. Unlike in years past, the process for applying and being approved for home loan modification is less inefficient and speedier. Investigate your options if you think that a home loan modification would assist you in your time of financial hardship.It doesn't have to be the end or result in foreclosure if you're currently having difficulty making your monthly mortgage payments. If you apply for loan modification assistance before you hit rock bottom, you may be able to do something to save your home. A financial adviser can let you know your options, whether you hire one or schedule an appointment with a HUD-approved financial adviser for free counseling.You have options available to you in terms of whether to choose a lawyer to assist you in obtaining loan modification approval and whether or not to use a free financial counselor or a paid adviser.Whenever there's increased demand for a product, new providers seem to crawl out of the woodwork. Be careful when choosing a lender or financial advisor to assist you with your financial decisions and consideration of a mortgage modification. Check with colleagues and/or the Better Business Bureau to check out the lender before deciding to do business with them.When meeting with your counselor for the first time, you will need to take all of your documentation they will need. You will need your financial statements, bills, and any other relevant paperwork for the loan counselor to review.You and your counselor will work together to write a hardship letter if it's determined that loan modification is the best option for your particular situation. A hardship letter explains to your lender what caused your financial difficulties (Divorce? Job loss? Medical bills?) and lay out your strategy for how you plan to continue meeting your monthly loan obligations under modified terms.Apply under the loan modification program if you are having difficulty paying your monthly mortgage due to financial hardship. Counseling is available free of charge to help you select and deal with a lender participating in the loan modification program.