Is there an Application Process for 2MP Loan Modification?
I was told by the Executive Response Unit and also the Department that handles the 2MP that I need to give citi time to 'implement' the new October 2010 Guidelines for the 2MP
We will be making our 2nd HAMP modified payment on January 1,2011.
We made 9 trial payments.
Our Loan closed on October 26th.
We do not have the Modification Agreement back and signed by citi, but we are getting real statements in the mail with the new modified payments.
Our 2nd Mortgage is with CitiBANK (Not Citimortgage) but Citibank just tells me to call CitiMortgage regarding this matter.
I aggressively pursued the first modification.
Do I need to do the same for the 2MP?
Thank you.Mortgage Loan Modification Answer:
Yes, you will have to pursue your 2MP loan modification application aggressively with CitiMortgage or whoever is the servicer of your second mortgage loan.
Many representatives are not familiar with the program so it takes a while to even get connected to the right person who knows about the 2MP program and how it works.
Escalate your application to a manager if you are not getting anywhere with the regular reps. They may know more about the program, or so one would think.
Since your HAMP loan modification has been finalized and is now permanent, you automatically qualify to get a 2MP modification for your second mortgage, so stay on top of Citi until you get approved for it.
Find out more on how the 2MP HAMP loan modification program
All the best to you and your family!