2nd Lien Modification Program (2MP)

This is not so much of a standalone option as it is an extension of HAMP.  If you have had a primary loan which has been permanently modified under HAMP, the 2MP allows the lender on your second mortgage to modify the second mortgage to contain more sustainable terms.

The eligibility requirements for the 2MP are simple:

  • Have a permanently modified first mortgage via HAMP;
  • Don’t have any of the felonies listed in the eligibility requirements under the  Home Affordable Modification Program or the Principal Reduction Alternative; and
  • You cannot have missed more than three consecutive payments under the HAMP modification.

The lenders currently participating in 2MP are:

  • Bank of America, NA
  • Bayview Loan Servicing, LLC
  • CitiMortgage, Inc.
  • Community Credit Union of Florida
  • GMAC Mortgage, LLC
  • Green Tree Servicing, LLC
  • iServe Residential Lending, LLC
  • iServe Servicing, LLC
  • JPMorgan Chase Bank, NA
  • Nationstar Mortgage, LLC
  • One West Bank
  • Penny Mac Loan Services, LLC
  • PNC Bank, NA
  • PNC Mortgage
  • Residential Credit Solutions
  • ServisOne, Inc., d/b/a BSI Financial Services, Inc.
  • Wells Fargo Bank, NA

(list available at http://www.makinghomeaffordable.gov/programs/lower-payments/Pages/lien_modification.aspx).

Please see the Warnings about Loan Modifications page.  Applying for a government program will not automatically stop a foreclosure.

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