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TJ, Esq.
TJ, Esq., Attorney
Category: Consumer Protection Law
Satisfied Customers: 12400
Experience:  JD, MBA
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This slide is from a "2nd lien modification program"

Customer Question

This slide is from a "2nd lien modification program" presentation. It says that a HAMP streamlined modification does not qualify for a "2MP". Is this still true or has the law changed to include HAMP streamlined modifications?
Help for America's Homeowners
MAKING HOMEAFFORDABLE
Eligibility
Criteria for Eligibility
Second Lien
Corresponding
First Lien
Not Previously
2MP Modified
Unpaid Principal
Balance (UPB)
Limits
Program Cut-off
Date




Originated on or before January I, 2009.
Must occupy the second lien position.
Corresponding first lien must be permanently modified:
Under non-GSE HAMP guidelines; or
Pursuant to the terms of GSE HAMP or a qualifying GSE
Standard Modification.
Corresponding first lien may not be modified under the GSE
Streamlined Modification process.
Corresponding first lien must be in good standing.
Not previously modified under 2MP.
At initial consideration:
UPB is $5,000
Monthly payment >= $100.
2MP Effective Date must be on or before September 30, 2017.
Making Home Affordable I April 2015
Submitted: 2 months ago.
Category: Consumer Protection Law
Customer: replied 2 months ago.
This is from a presentation in 2015
Customer: replied 2 months ago.
April 2015, Need to know if the rule change between April 15, 2015 and today
Expert:  TJ, Esq. replied 2 months ago.

Hello and thank you for the opportunity to assist you. My name is ***** ***** I will do my very best to answer your legal questions.

HAMP expired on December 31, 2016. Accordingly, there are no more HAMP modifications. Thus, the answer to your question is that the law changed and your question is now moot.

Does that answer your question(s)? Please let me know if you need clarification, as I am happy to continue helping you until you are satisfied. Also, please remember to provide a positive rating via the stars (and note that your positive rating is the only way that I'll get credit for helping you, so it is much appreciated!). Thank you. :)

Customer: replied 2 months ago.
Does not answer my question. My question is about a HELOC. 2nd lien. Previously the first lien was modified under a Streamline HAMP modification. I requested a 2MP modification on a streamline HAMP. Should I have been able to get the 2MP. My understanding that the modification on a second lien when a 2MP is involved extends to a date in 2017.
Customer: replied 2 months ago.
I filed for a modification requesting the 2MP in October of 2016. I am wondering if I have a case
Customer: replied 2 months ago.
In addition, does the investor have to be on the 2MP list or does the servicer have to be on the 2MP list or both?
Customer: replied 2 months ago.
In my case. Bank of America is the investor and the servicer was PHH. Would this qualify for a 2MP modification. The modification for the HELOC 2MP was filed in October of 2016, so not a new case. Bank of america is on the list. and the servicer PHH is not. Should they have given me the 2MP modification offer. I have a case for someone if this is the case
Expert:  TJ, Esq. replied 2 months ago.

Hi again.

I see. You applied in 2016. That may change things. However, I'm really sorry to say that I don't think that I'll be able to provide you with a useful answer. However, it's quite likely that another attorney at this website will be able to do so. Accordingly, I will open your question for other attorneys to review. Your patience is appreciated. :)