Replies to This Discussion

Permalink Reply by Wendy Rulnick on May 26, 2010 at 2:04am

Cathy - I think they are pretty quick. I do not remember about deficiency :)

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Permalink Reply by Cathy Nagy on May 26, 2010 at 4:59am

Thanks, Wendy. I hope they are quick. I also hope that one of the Super Stars has an example of an AmTrust Approval Letter (or Letters, in case they have several versions.) I went to the the AmTrust website and found their Mortgage Payment Assistance Application. Here's the link: https://www.amtrust.com/Personal/Mortgages/Pages/RequestMortgageAss... and I've uploaded their Mortgage Assistance Application.

Attachments:

• AmTrust SS Forms.pdf, 104 KB

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Permalink Reply by Scott R. Fuller on June 8, 2010 at 11:53am

HI Cathy, I noticed you are taking on a Amtrust short sale. I am about to do one myself. How is it going so far? Anything you can share with me? Thanks

Scott Fuller






Cathy Nagy said:

Thanks, Wendy. I hope they are quick. I also hope that one of the Super Stars has an example of an AmTrust Approval Letter (or Letters, in case they have several versions.) I went to the the AmTrust website and found their Mortgage Payment Assistance Application. Here's the link: https://www.amtrust.com/Personal/Mortgages/Pages/RequestMortgageAss... and I've uploaded their Mortgage Assistance Application.

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Permalink Reply by Cathy Nagy on June 8, 2010 at 12:04pm

Hey Scott: I haven't started the short sale. The home owner just wants to walk away and let AmTrust take the house. I'll keep you posted! Best wishes, Cathy

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Permalink Reply by Albert Clark on July 29, 2010 at 3:43pm

Terrible loss mit. They wanted seller to bring 20k+ to closing on a 2nd and sign 20k+ promissory note. Also wanted commissions to be 4%. Very unreasonable in conversation and knowing that seller's didn't have that type of money to make it happen. I won't even go there with 4% commish. This was on a 2nd lien. Will send in a lower offer at some point I'm sure, then the 1st lien will be involved and make it more difficult for them to get any more money.

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Permalink Reply by Cathy Nagy on July 30, 2010 at 3:03am

Thanks for the info, Albert. The homeowner has now decided to do a loan mod instead of a short sale. Knowing the odds of this, I'm keeping in touch with him for a future short sale!

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Permalink Reply by robert reed on September 7, 2010 at 2:21am

I made an offer on a short sale last week, one loan held by AmTrust, How are they to deal with? are they agressive in moving property? or willl they just sit on my offer and decline in 4 mos? I'm hearing both sides someone said dont be surprised if they accept in less than a mo. Thanks for any help you can offer

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Permalink Reply by Jennifer Klein on June 17, 2011 at 1:03pm

How has everyone's experience been on a second mortgage, I only see one "experience" we're just getting started so please let me know.

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Permalink Reply by Albert Clark on June 17, 2011 at 1:08pm

My experience was with the 2nd lien.  Sarah Salupo was the head of Short Sale dept at the time last year.  Hopefully your client has a hardship that they will accept.  I guess "Divorce" is not considered a hardship in their minds, at least in my instance, as they made terms that were unreasonable considering the borrowers financial position.  I never did get my short sale approved and may have to try again soon, as my seller is close to default at this point.

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Permalink Reply by Clea Annecchiarico on November 8, 2011 at 6:42am

Hi All,

 

I was wondering if you all were dealing with AMTrust or the New York Community Bank since the latter was spun off from Amtrust last year (I still call the latter AMTrust so I thought I would ask).  At any rate, I was hoping someone might have some advice as for how to deal with them as they (NYCB) are like a black hole with nobody to speak to except for customer reps, no way to escalate to anyone, no way to fax or email anything (we have submitted all docs by FedEx), and now we have a pending foreclosure in 2 days even though we have had a great offer (above appraisal value) on the table for months...  Any advice any of you would care to share for how to escalate the matter or get any response from them would be greatly appreciated!

Have a great day.

Clea

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Permalink Reply by Albert Clark on November 8, 2011 at 7:12am

I was dealing with AmTrust directly at the time.  Although I have now submitted a new short sale for the same borrower to NYCB just last week. 

 

Try this number for Joe Bialek 216-588-4269, he isn't at this number any longer, but will give you a new person.

 

you can also try Julie Rozsnyai 216-588-3835.  worth a shot.

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Permalink Reply by Clea Annecchiarico on November 8, 2011 at 8:00am

That's great, I will try, thank you!

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