Is a loan modification agreement valid as a cause of action for promissory estoppel?

^6. The trial court ruled that the cause of action for promissory estoppel was barred by the statute of frauds because an agreement to modify a loan comes within the statute of frauds and plaintiffs had failed to attach a written loan modification agreement to their complaint. We observe that it has been held that, "A party is estopped to assert the statute of frauds as a defense 'where [the] party, by words or conduct, represents that he [or she] will stand by his [or her] oral agreement, and the other party, in reliance upon that representation, changes his [or her] position, to his [or her] detriment.' [Citation.]" (Garcia v. World Savings, FSB (2010) 183 Cal.App.4th 1031, 1041, fn. 10.)