Which advice is acceptable for a borrower regarding a loan modification?

Contacting the loan servicer is the most appropriate advice for a borrower considering a loan modification. This step is essential because the loan servicer is the entity that manages the loan and has the authority to discuss options related to the modification. By reaching out directly to the servicer, the borrower can find specific information regarding eligibility, necessary documentation, and the correct procedures to initiate the modification process.

While consulting an attorney might be beneficial in certain circumstances, it's not a necessary initial step and could lead to additional costs, which may not be required for all borrowers. Submitting a new loan application might not be relevant since the borrower is seeking a modification on an existing loan, and waiting for automatic approval is typically not how the loan modification process works; it requires proactive engagement from the borrower. Therefore, contacting the servicer is a direct and effective approach for addressing loan modification needs.