I am having issues changing homepage of my browser. I am uisng IE 7 and I am trying to go to internet options and change it from there but I cannot delete certain part of the link and change it to yahoo.com, Please advise how to fix it. Thank you:)

Can you get to Yahoo.com? Go there and select the "Use Current" in the Internet Options.

If after doing what NeedKarma suggests doesn't work, check for spyware using Malwarebytes Anti-Malware 1.36 available from:

Malwarebytes Anti-Malware - Free software downloads and reviews - CNET Download.com (http://download.cnet.com/Malwarebytes-Anti-Malware/3000-8022_4-10804572.html)

Well, as suggested do check your computer for virus and spywares. Though even after removed, these softwares won't undo this.

To change homepage,
Just go to the Group Policy (Run-->gpedit.msc)and navigate to User Config >> Windows Settings >> Internet Explorer Maint >> URLs >> Important URLs and add your home page there.

Or just open registry editor and navigate here
[HKEY_CURRENT_USER\Software\Microsoft\Internet Explorer\Main]
And change value of Start Page.

Can you get to Yahoo.com? Go there and select the "Use Current" in the Internet Options.

It won't work since he says he can't change his homepage which implied its locked by policy.