2nd Mortgage and HAMP
QUESTION: Is my 2nd mortgage loan included in the HAMP loan modification program?
Mortgage Loan Modification Answer:
The HAMP loan modification program was created primarily for 1st mortgage loans. A new program called 2MP HAMP or Second Lien Modification Program
was recently launched by the federal government to modify 2nd mortgage loans for homeowners whose 1st mortgage loans qualify for the HAMP program.
Click on the 2MP HAMP link above to learn how to qualify for this loan modification program. There are certain banks who have already signed up to implement the 2MP program, but most have not yet done so. You can contact your 2nd mortgage lender if you've already qualified for HAMP on your 1st mortgage, and ask them if they participate in the 2MP program.
You can of course apply for loan modification on your own, but if you do not feel comfortable negotiating on your own with your lender, you can hire an experienced and legitimate professional to do it for you.
I highly recommend No Upfront Fee Loan Modification
as the best option to explore first. Read the reasons why
Good luck and all the best to you.