Founded in 1868, along the Salt River confluence with the Gila River, Phoenix was organized as a city in 1881 and has become the capital and largest city of the state of Arizona. With an estimated population of 1,567,924, this city is the anchor of the Phoenix metropolitan area and is the center of the Maricopa County. By land area, Phoenix is among the largest cities in America. Known as the "The Valley of the Sun", this city has the hottest climate of any major city in America because of its location. Situated in the northeastern reaches of the Sonoran Desert, this city can reach temperatures of over 100°F (38 °C) and can sometimes spike above over 120°F (49 °C). Industrial, cultural, and finance are the main economic foundations of this city.

A loan modification is a series of actions or a method of changing one or more terms of the original mortgage loan in order to re-instate the loan, resulting to an affordable payment. Most banks offer this program because it would be easier to work with a borrower than going after them. If a borrower stops paying, the bank will have several options like attempt or hire somebody to collect, try to repossess property like in the case of a home foreclosure or wait for the borrower to declare bankruptcy and receive little payment.

Stopping foreclosure is the advantage of a loan modification in Arizona. By providing distressed homeowners a fresh start with the same lender, loan modification changes the terms of the current loan to a payment that is affordable and sustainable to the homeowners. Knowing what questions to ask in order to obtain the information needed to process this program is important, so that the borrower can have the benefits of Arizona loan modifications, which can be a great help for their financial need. An accurate and complete financial statement, validation of income and assets, and a hardship letter explaining the reason why a homeowner deserves the loan modification are some of the paper works needed when applying for a loan modification. With the goal to avoid foreclosure, homeowners will now be able to keep their houses.