MHA Alternative Programs involves a process where the terms of a mortgage are adjusted 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 restructured. The restructuring of a mortgage for a borrower who faces a long-term financial problem but can demonstrate the ability to meet the changed payment terms is an excellent candidate for this program. This, ultimately, is a procedure in which a loan's terms, such as the interest rate, monthly payment or term, are altered with the approval of a lender. This is also a process that is always initiated by the homeowner in order to change the terms of the loan with the lenders approval. This may include a decreased interest rate, a short amortization, or a decrease in the loan amount and potential adjustments to the rate, term, and monthly payment amounts. This is handled by the lender's Loss Mitigation Department.This service provides a permanent change in one or more of the terms of a borrower's loan, allows the loan to be reinstated, and results in a payment the borrower can afford. A transaction in which lender agrees to adjust any or some of the terms of the mortgage.