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| Loan Modification Learn everything you need to know about loan modifications. Can't refinance? Are you in a ARM mortgage that's adjusted or about to? Late on your mortgage? Then this section for you! |
This is a discussion on 2nd Lien Modification Program within the Loan Modification forums, part of the Foreclosure Forum category; Has anybody had any luck with the Making Home Affordable 2nd Lien Modification Program? http://www.financialstability.gov/do...nFactSheet.pdf The government lists guidelines that ...
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| | #1 (permalink) |
| Member Join Date: Jul 2009
Posts: 24
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | 2nd Lien Modification Program Has anybody had any luck with the Making Home Affordable 2nd Lien Modification Program? http://www.financialstability.gov/do...nFactSheet.pdf The government lists guidelines that modification is automatic once the 1st is modified. Yet I call my 2nd mortgage provider and they act like I'm from Mars. I know it's voluntary, but has anybody had luck with their 2nd mortgage provider and who is it? |
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| LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California
Posts: 2,168
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Hi goodlife4524, Quote:
__________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here. | |
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| | #3 (permalink) | |
| Member Join Date: Jul 2009
Posts: 24
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Quote:
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| | #4 (permalink) |
| LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California
Posts: 2,168
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Sorry you got denied but dont give up, this is usually a long process with hours and hours on the phone and speaking with many different reps..
__________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here. |
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| | #5 (permalink) | |
| Member Join Date: Jul 2009
Posts: 24
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Quote:
In your opinion (anybody on the board), is the 2nd Lien program something to expect that is just taking time to get rolling? | |
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| | #6 (permalink) | |
| Senior Member Join Date: Feb 2009
Posts: 246
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Quote:
After the 2nd lien program was announced, there wasn't much information after that. Even the govt sites only talk about the announcement, but nothing after that. The "voluntary" language is confusing also - voluntary for second program or voluntary in MHA period. | |
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| | #7 (permalink) | |
| Member Join Date: Jul 2009
Posts: 24
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Quote:
Citi rep said our hardship wouldn't count for their non-MHA mod program. Yet it counted just fine for a Chapter 7 where we owed a lot in credit card debt (and I mean a lot!) and for the 1st Loan Mod. | |
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| | #8 (permalink) |
| Senior Member Join Date: Feb 2009
Posts: 58
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program GoodLife- Can I ask how long you were working with Aurora on your 1st? I have been working with them for almost a year now and am still making forbearance payments. You seemed to have a much easier time. |
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| | #9 (permalink) |
| Member Join Date: May 2009
Posts: 11
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program I have a first and second with Wells Fargo. I am currently in the process of trying to get my first modified. Spoke with Wells today and they said if my first is approved under the "Hamp" modification then the second will be automatically approved. Any other type of agreement other then the Hamp will not qualify for automatic approval on the second. I have been trying to get my first modified for two months now frustrating process. Good luck! |
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| | #10 (permalink) |
| Senior Member Join Date: Jun 2009
Posts: 52
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Goodlife4524 and Hopefull2009, I just started my process but am trying to get a modification with Aurora like jaibird. Wondering how long it took both of you to get your modifications and if you can give a few more specifics. I believe one of you had an interest only mortgage. I know I should stop stressing about the surplus but wondering if you all had a surplus (if so, did you have the surplus with your current situation or did you have the surplus with the proposed new mortgage amount)? Also, did either of you work with NACA or go it alone? Thanks so much and congrats to both of you on your successful modifications! |
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| | #11 (permalink) | |
| Member Join Date: Jul 2009
Posts: 24
Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0 | Re: 2nd Lien Modification Program Quote:
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