Anyone have experience with Amtrust bank

[ddibernardo]

I am in the process of getting everything together for a loan modification.

Anyways my question is if any of you have tried to get a loan modification through Amtrust Bank? Or does anyone work for Amrtrust.

Please Advise.

[Maurice Bedard]

Hi ddibernardo,



Welcome to the forum and thank you for joining.................

We have not had any members that joined who had Amtrust bank..........however, if you need assistance with a loan modification we offer services.............

just click on the Loan Modification Service in the Homeowner Tool Box to the left of the forum...........

[tampa1]

ddibernardo,

Our first is with Amtrust and they extended our arm for an extra 3 years waived our pp and lowered our rate 1.5% for free. We were current on our first and our loan was set to adjust in twelve months. We called them up and asked for it and we were able to prove we were upside down.

[wgcamp]

I have a client who worked out their 1st mortgage loan with Amtrust. After months of no success, Amtrust mailed out modification papers prior to 1st of July modifying loan. Rate was effectively lowered to 2% for 5 years. I am trying to find out if it was done in accordance with Making Home Affordable program which automatically qualifies the 2nd for modification. Pmt was lowered by $1,500 per month for 36 months.

[kurtkrum]

Who did you deal with at AmTrust for the modification? I have been dealing with someone there and have reached a dead end. Did AmTrust own the note or was this owned by someone else?

[andbrown]

Who did you deal with at AmTrust for the modification? I have been dealing with someone there and have reached a dead end. Did AmTrust own the note or was this owned by someone else?

Hi, I'm interested in knowing what you found out. Our mortgage is with AmTrust and they have not been the best to deal with. We are scheduled for foreclosure in 10 days and obviously want it stopped. This year our taxes increased our house payment by about 75%! We bought a new home and until this year we were not taxed on the house just the land...we didn't know. Would at the very least like AmTrust to give us time to try and sell. We haven't made a house payment since 12/08 but we did do forebearance in May, June and July. We were also told that our forebearance payments were unusually high. AmTrust has been terrible to deal with.

Andrea in Texas

[nkaylor]

We are working with Amtrust right now and it has been a nightmare. We are on forebearance and it is ruining our credit as they are reporting late not in forbearance. Anyone have success with them. We are not asking for much just to get our payment reduced from 2395 to 1800 per month but no help yet. Anyone have any success with them

[SK3420]

We've had a mortgage with Amtrust since 2008. 6.625%, 30 years, supposed PMI, taxes escrowed, etc. Well, since rates are so low, I have tried to refinance only to find out that Amtrust had messed up. They had not been escrowing taxes as I had thought. Instead of properly communicating with Cook County Treasurer's Office, they set my taxes at $1 which will inevitably result in a huge tax shortfall when taxes are due. This caused major refinance issues because new lenders couldn't determine what taxes had been paid since Amtrust basically didn't pay any taxes, then blamed me.

Now, I tried to modify my mortgage through them since we have just had a kid and my wife is out of work, losing 50% of our income. They denied me for HAMP because we pose no risk of default. I am now waiting to find out the again, inevitable news that a Traditional Modification won't work either.

What other options do we have? Our loan is for $280k and a recent appraisal put us at $253k, therefore, we're under water. Amtrust has been terrible to deal with since we got our loan and I only expect them to get worse. Does anyone have any options? We want to stay in our home, so maybe a HARP or a short payoff? Or just demand that they modify?