What is the Second Lien Modification Program (2MP)?

 
The Second Lien Modification Program is designed to work in tandem with a HAMP modification to reduce the total mortgage payments to make these more affordable and prevent foreclosure.  If you got your first mortgage modified under HAMP and you have a second mortgage, you may be eligible for a modification.  If the servicer of the second mortgage participates in 2MP, they will automatically evaluate you for a modification on the second mortgage.  The 2MP program is available through December 31, 2012.
Eligibility:*
First mortgage was modified under HAMP.
Not missed more than 3 consecutive payments on HAMP modification.
Balance on second mortgage exceeds $5000.
Monthly payment on second exceeds $100.
No convictions within last 10 years for forgery, fraud, or tax evasion related to a real estate transaction.
 
*Eligibility criteria is for guidance only.
 
Servicers that participate in 2MP are:
Bank of America
BayviewLoan Servicing
CitiMortgage
Community Credit of TXorida
GMAC Mortgage
Green Tree Servicing
iServeResidential Lending
iServeServicing
JP Morgan Chase
NationstarMortgage
OneWestBank
PennyMacLoan Services
PNC Bank
PNC Mortgage
Residential Credit Services
ServisOne
Wells Fargo Bank
 
If you have any questions about this program, contact a housing advisor at (888) 995-HOPE.  There is no cost for this valuable around-the-clock service.