2nd lien not included in DTI target of 31% ?

[yomann]

I have been reading the Q&A at: Making Home Affordable - FAQs


One of them states:

1. I have a junior lien mortgage. Am I still eligible?

Yes, but only the first lien mortgage is eligible for a modification under HAMP.
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If I use the calculator on that site, my numbers show a DTI of 35% (first lien only).
If HAMP reduces my first lien to bring the DTI down to 31%, that will be of little help to me, as my second lien is almost $970/mth. or another 14% !

What help is available to get the total of my first & second down to 31% DTI ?
Do I need to co-ordinate with my second lienholder ?

Sorry, if this got posted in the wrong space, as I am new to the forum and still learning navigating around.

[litehouse01]

You have to coordinate the second mortgage seperatly thats what I did with CHase..usually the 2nd is done as a forebearence mine is half of the original payment...BUT they will not modify the 2nd unless the 1st is modified and they make that clear ............the other thing I want to mention is the 1st and 2nd are counted together in calculating your back end dti along with your other debts and it may put you over 55% I am told they use original mortgage payment amounts to calculate that.