From the old Chase 2MP era to today’s programs
JPMorgan Chase once participated in the Second-Lien Modification Program (2MP), which did help people modify their second lien mortgage and/or home equity loans. This was a companion to the federal Home Affordable Modification Program (HAMP). While it no longer exists, there are other options for modifying a second mortgage or equity loan from Chase and learn more below.
That 2MP program ended years ago. The U.S. Department of the Treasury officially retired both HAMP and 2MP, and lenders like Chase no longer offer these government-backed options. Homeowners today can still seek help through private loan modification, loss-mitigation departments, or legal processes that address both first and second liens.
The Historical 2MP Program
2MP was launched by the Treasury Department to ensure that when a homeowner modified their first mortgage under HAMP, the second-lien lender would cooperate instead of blocking the process. Participating banks like JPMorgan Chase, Bank of America, and Wells Fargo received incentive payments to reduce or forgive second-mortgage balances.
As noted, the 2MP program from JPMorgan Chase officially expired in 2016, following the wind-down of HAMP. For reference, you can still read the archived information on the U.S. Treasury’s site at https://home.treasury.gov/data/home-affordable-modification-program.
It’s important to note that any current Chase mortgage assistance is now handled internally through its “mortgage assistance” or “loan modification” department, not through 2MP or HAMP.
How Chase handles second mortgage modifications
Relief on a second lien provided by Chase comes from the second-lien servicer itself. This can be offered through rate/term adjustments, forbearance, settlement or, in some cases, charge-off/forgiveness tied to hardship. Practically, you work both servicers (on 1st and 2nd home loan) in parallel. Homeowners need to pursue the formal first-lien program (Flex/FHA/VA/USDA), and separately submit a hardship package to Chase being the second-lien servicer. You need to request a modification or settlement consistent with your new first-lien payment with more information on Chase mortgage modifications here.
While no federal program forces Chase to modify second liens today, JPMorgan Chase and other lenders continue to offer hardship and loss-mitigation options directly to borrowers. JPMorgan Chase outlines its current hardship and modification options here: https://www.chase.com/personal/mortgage/mortgage-assistance/loan-impacts/mortgage-modification. As noted, borrowers may be eligible for options such as the following.
- Loan modification or interest rate reduction on the second mortgage.
- Re-amortization or term extension to lower payments.
- Second-lien negotiation or settlement, sometimes through separate workout departments.
If both liens are serviced by Chase, the bank may consider them together as part of a single hardship review. When the second lien is held by a different lender, the homeowner must usually contact both servicers individually.
Legal and negotiation options for Chase second liens
In addition to the modification options offered directly by JP Morgan / Chase listed above, other options are available too.
- Bankruptcy (Chapter 13): In certain situations, a homeowner can strip or reduce a second lien through a Chapter 13 repayment plan if the home’s value has fallen below the first-lien balance. Rules vary by jurisdiction.
- Short refinance or negotiated settlement: If the homeowner is deeply underwater, both lien holders may agree to a short refinance or settlement. The Consumer Financial Protection Bureau (CFPB) provides an overview of loan modification and loss-mitigation rights here t https://www.consumerfinance.gov/ask-cfpb/what-is-a-mortgage-loan-modification-en-269.
- HUD-approved housing counseling: The U.S. Department of Housing and Urban Development coordinates certified counselors who can assist with modification or second-lien negotiation. Read about and find counselors at our main HUD counseling link here.
How to proceed, step-by-step modifying a Chase 2nd mortgage
First, confirm the identify of who owns or insures your mortgage because that dictates the track. Use the Fannie Mae lookup at https://yourhome.fanniemae.com/calculators-tools/loan-lookup and the Freddie Mac lookup at https://myhome.freddiemac.com/resources/loanlookup or ask your servicer.
Then complete the servicer’s hardship loan modification package for the first lien / mortgage. At the same time, contact the second-lien servicer (JP Morgan Chase), submit income/hardship documentation, and request a payment that aligns with the new first-lien outcome.
Also Chase phone support is at 1-800-848-9380. If your second lien is also with Chase, ask that both accounts be reviewed in a single hardship package; if the second is with another servicer, you’ll submit to that servicer separately.
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