Ok thanks for even looking! I will try to concise/brief if at all possible

In Dec 2006 i purchased my 1st Home. Live in Lake Worth, Fl. Went with a MTG Broker and did an 80/20. Like so many i am upside down...i did not escrow taxes or insurance and have been paying on time despite teh fact that i was foolsih and did not know enough about loans at the time and got beat up pretty bad.

Fast forward to Feb'09 - realized there was no way in the world (living paycheck to paycheck now) i would have the 3k for taxes and 2k for ins come Nov/Dec. I heard about the Mods and assistance so went for it with the first - Everything went really well and they included the T&I into the monthly payments and it still lowered it 70 bucks for the next three years (this was an interest only loan). So that's All Wonderful!

Here is where the need for help comes in:

The 2nd has been transferred 3x and is now with Greentree Servicing. I contacted them about a Mod and they were reluctant, i persisted and my account manager agreed - I sent all Doc's just like i had on the first. Did not hear back from Them. a month passes and i contact them, MGR pulls up my info as he is shuffling numerous files about his desk it appeared. He gives me check marks for everything and says it all looks good - I am thinking this is so much easier then even doing the first. it was almost a 'no questions asked' type thing. He says he will transfer paperwork for processing and i will hear back from them.

No calls EVER. That was 2 months ago. Today i called to see what was up. He took a long time opening my file and apologizes, says my stuff must have been lost in the shuffle/transistion and someone else is now handling my account! I get tranferrred to new guy (i am a little upset but play it cool and nice) New guy is Tough! Says didnt SCOTT tell you about the requirements? Oh 3 payments in 90 days or something - becuase one was a little off (not late mind you) we would need to wait til i had 3 payments in 90 days to start the process! Also that they have tightened their belt with the MODS and things are slightly more difficult than a few months ago! Im thinking, why the heck am i being penalized? I did all i was asked...

So new policies, they need more Doc's and PERMISSION to speak with my first Mortgage holder???????

This situation is so crazy! I feel they are really messing with me and hate them. I had a 41,200 balance and have payed $335.22 everymonth since Jan 07 and STILL owe 40, 5xx I am getting Nowhere. Whats worse is it's a ballon at the end of 15yrs and i will owe 33k!!!!!!!

I feel i have to try to keep this house. What else will i ever have? I thought buying a place was my big shot. I t has been a HUGE mistake!! I feel like crying (but won't)

Ok, question? what rights does the 2nd have. Say i hate them so much and foolishly just forget about having credit and stop paying them - What could they do?? can they kick me out having only 20% I really would HATE to do that, but i might hate them more. I know, i know...don't cut off your nose to spite your face. But for real, this really sucks.

Alright - so i was incapable of making this a short-er read. I just was trying to give as much background as possible in hopes of some answers, thoughts, advice, prayers, anything...

Thank you all so much for reading. This had been a great board and huge resource for the few questions i have asked in the past.

Sincerely,

HW

Do you qualify for the Making Home Affordable stuff? I believe they cover 2'nd mortgages now:

http://makinghomeaffordable.gov/

Thanks! I checked but it didnt look good, i will research further...

Regarding what i previously wrote: Do you think it's a good idea to grant Greentree (2nd MTG) permission To speak with 1st Mortgage holder?

Also, what rights to the property does the 2nd lender have? Can they kick me out if i do not pay??

Thanks for the Help. It means alot.

They have the right to foreclose, same as the first mortgage lender. They can't just kick you out. If the 2'nd mortgage holder forecloses, they have to pay off the first mortgage before before they see a dime, so it's often a case of them spending $$ on the foreclosure, and not getting a cent out of the sale.
If there is little to no equity in your home, it's most unlikely that the 2'nd will foreclose. They are more likely to charge off the loan (if you stop paying) and run it through standard collections, possibly suing to collect.