Graham Legal, P.A.
814 Ponce de Leon Boulevard Coral Gables, Florida 33134
Phone: (305) 445-9185 URL of Map


Government modification program for second lien

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Many of our clients have successfully received a mortgage loan modification through the Making Homes Affordable Program. Obtaining a HAMP modification isn’t a simple process and for those who qualify it will take several months for the loan modification to be finalized. One of the stipulations of HAMP is that the loan to be modified is the primary loan on the home. This program does not modify any second mortgages on a home.

However, the department of Housing and Urban Development does have another program available for homeowners who have obtained a HAMP modification on their first loan, it’s called Second Lien Modification Program or “2MP” for short. As with HAMP, homeowners must meet the following criteria to be eligible.

Eligibility requirements:

  • The first mortgage must be modified under HAMP.
  • The homeowners must not have been convicted of any of the felony charges outlined by the program, within the last 10 years.
  • The homeowners must not have missed three or more consecutive monthly payments on the existing HAMP modification.

If the homeowner qualifies, they must still check if their lender is participating in the program and they need to submit an application. As is customary with the modification review process, the homeowners will need to submit their financial documents, possibly a few times, and wait to learn whether they are approved.

The team at Graham Legal knows the various struggles homeowners face while attempting to obtain a loan modification, thus we offer services to take the responsibility off your hands. We have the resources needed to see a government modification through to the end, including keeping detailed account of our communications with the bank, following up as frequently as needed, and the ability to submit documentation as of as needed by the bank. Even if we did not submit your first HAMP modification, we can help with the 2MP application process. Contact our office today for more information on our loan modification services.

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