If I have been approved for a loan modification could the mortgage company take back my home?

I believe what you're asking is if you complete a loan modification, does that put you at an additional risk for foreclosure, right? Based on what I've seen of loan modification paperwork, no; plus, there are specific foreclosure proceedings that have to take place based on State Laws prior to a bank being able to "take back" a home. Generally speaking, the loan modification, if permanent, becomes your new loan/loan terms; if you're concerned about specific language in that paperwork that might put you at additional risk, then you should consult with an attorney before signing them.