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The video discusses the application process for a loan modification package. It emphasizes the importance of submitting an application form along with financial documents when applying for a loan modification. Each lender typically has their own specific application form, often included in a loss mitigation packet with the lender's letterhead. Viewers are encouraged to ask their lender for this application as the first step in the modification process. The host welcomes subscribers and encourages interaction through comments to help disseminate information to more homeowners.