Consumer Protection Law

Consumer protection law questions? Ask a lawyer now.

Ask a Lawyer,
Get an Answer ASAP!

This slide is from a "2nd lien modification program"

Customer Question
This slide is from a...
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: 11 months ago.Category: Consumer Protection Law
Show More
Show Less
Ask Your Own Consumer Protection Law Question
Customer reply replied 11 months ago
This is from a presentation in 2015
Customer reply replied 11 months ago
April 2015, Need to know if the rule change between April 15, 2015 and today
Answered in 1 day by:
7/30/2017
Consumer Protection Lawyer: TJ, Esq., Attorney replied 11 months ago
TJ, Esq.
TJ, Esq., Attorney
Category: Consumer Protection Law
Satisfied Customers: 12,760
Experience: JD, MBA
Verified

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. :)

Ask Your Own Consumer Protection Law Question
Customer reply replied 11 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 reply replied 11 months ago
I filed for a modification requesting the 2MP in October of 2016. I am wondering if I have a case
Customer reply replied 11 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 reply replied 11 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
Consumer Protection Lawyer: TJ, Esq., Attorney replied 11 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. :)

Ask Your Own Consumer Protection Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a consumer protection lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask TJ, Esq. Your Own Question
TJ, Esq.
TJ, Esq.
TJ, Esq., Attorney
Category: Consumer Protection Law
Satisfied Customers: 12,760
12,760 Satisfied Customers
Experience: JD, MBA

TJ, Esq. is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Infolawyer

Infolawyer

Lawyer

7,089 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

3,436 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

Barrister

Barrister

Lawyer

1,671 satisfied customers

Attorney,17 years experience in consumer protection areas

P. Simmons

P. Simmons

Lawyer

1,222 satisfied customers

16+ yrs. of legal experience.

LADY LAWYER

LADY LAWYER

Lawyer

748 satisfied customers

Consumer Lawyer

RGMacEsq

RGMacEsq

Lawyer

604 satisfied customers

Licensed Texas General Practice Attorney

John

John

Lawyer

516 satisfied customers

Licensed and practicing attorney experienced in consumer protection law.

< Previous | Next >

Related Consumer Protection Law Questions
I am trying to find out a couple issues with my modification
I am trying to find out a couple issues with my modification HELOC account. First, my account was in default, they agreed to do a modification. I also owed back taxes. I had made arrangements with my … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
This questions pertains to state licensing of loan
This questions pertains to state licensing of loan servicers.I nearly lost a rental property to foreclosure due to poor planning during a lengthy, failed loan mod attempt. A Chapter 11 and the fact th… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I live in Clackamas, Oregon. Bank of America is my servicer,
I live in Clackamas, Oregon. Bank of America is my servicer, my loan is an FHA Freddie Mac, since February of 2010 I've been trying to get a HAMP MODIFICATION I've been diligent and in contact with th… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,089 satisfied customers
my mortgage bank started a foreclosure process on january 2012
my mortgage bank started a foreclosure process on january 2012 during a loan modification that i have applied for, my question is, can the bank start a foreclosure during a loan modification process? … read more
JBaxLaw
JBaxLaw
Attorney
Doctoral Degree
8,080 satisfied customers
Dylatess, Can I do a home affordable modification and then
Dylatess, Can I do a home affordable modification and then suspension or if I really need suspension, would just a lien strip work by itself to help give me some mortgage relief? My first is more than… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
did the NY state attorney general mandate banks ie: wells
did the NY state attorney general mandate banks ie: wells fargo to return money to people went through home modification?… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I own a home that was purchased on an 80/20 program in 2007.
I own a home that was purchased on an 80/20 program in 2007. The second is a suborn-ate to the first. The house is no long worth the price of the two combined. What happens if I decide to quit paying … read more
MShore Law
MShore Law
Doctoral Degree
1,233 satisfied customers
My husband is in a nursing home and I am trying to get him
My husband is in a nursing home and I am trying to get him on Title 19, Medicaid thru the state of CT. I have been submitting all the paperwork they requested thru the nursing home. He might be on Tit… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
Due to job relocation to different city (450 ml) I will
Due to job relocation to different city (450 ml) I will enter a hardship due to the extra rent I need to pay. I am current, excellent credit. Loan interest (fixed/30 yr) is 6.80% we also ha a home imp… read more
Andrea, Esq.
Andrea, Esq.
Attorney
Post-Doctoral Degree
10,512 satisfied customers
I am a customer of Bank of America. They are who I signed
I am a customer of Bank of America. They are who I signed loan papers for my home in 2003. My interest is 5.70%. When I went to them to negotiate a lower interest rate, they are telling me that I am n… read more
CounselorJim
CounselorJim
Attorney
Doctoral Degree
360 satisfied customers
I recently applied for a HAMP on my first mortgage and was
I recently applied for a HAMP on my first mortgage and was approved and am currently in the trial phase of the payment plan. I filed a Chapter 7 BK about 3 1/2 years ago and it was discharged. My firs… read more
Linda Roch
Linda Roch
Attorney
Doctoral Degree
529 satisfied customers
I have been out of work since the end of March and collecting unemployment; I have paid al
I have been out of work since the end of March and collecting unemployment; I have paid all of my bills on-time up until my financial reserves were depleted in July. From that time I have stopped payi… read more
Legalease
Legalease
Attorney At Law
Doctor of Law w/ highest honors
15,719 satisfied customers
Im having a serious, ongoing problem with Bank Of America
I'm having a serious, ongoing problem with Bank Of America and the making home affordable program. I need advice on how to handle these home loan/modification scam artists.… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
Chase bank served a summons to appear for pretrial mediation
Chase bank served a summons to appear for pretrial mediation on a credit card with a $4500 balance, my income is half what it used to be. I've also defaulted on other credit cards as well and do not h… read more
Sam
Sam
Attorney
Doctoral Degree
10,701 satisfied customers
My husband and I have qualified for Modification Agreement
My husband and I have qualified for Modification Agreement with Citi. We received the agreement on 3/2/10, and we have until 3/12/10 to sign and return the package. My question concerns the fact Citi … read more
socrateaser
socrateaser
1,031 satisfied customers
I had contacted Bank of America. They hold my mortgage on a
I had contacted Bank of America. They hold my mortgage on a home in Portland Oregon. My husband passed away last year. My son and his family are residing in this home at the present time. My son is un… read more
Steinlaw
Steinlaw
Attorney/Principal
JD
1,704 satisfied customers
How can I save my home I tried the first phase of the Obama
How can I save my home? I tried the first phase of the Obama plan and the bank held my payment for 2 months, until I stopped the process. and returned making full payment. My credit score dropped over… read more
socrateaser
socrateaser
1,031 satisfied customers
In Jan 2009 I sent in my initial paprwk for a loan mod.In March,
In Jan 2009 I sent in my initial paprwk for a loan mod.In March, I rcved a letter stating our loan was in review.In June, they sent me a packet stating we were in review for the "HAMP" program but hav… read more
Steinlaw
Steinlaw
Attorney/Principal
JD
1,704 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x