Ameriquest Mortgage Company Loan Modification

Ameriquest Mortgage Company (AMC) is a sub -prime mortgage servicer now owned by Citigroup, a New York-based financial services company. Ameriquest has stopped originating sub-prime loans, but has opened a Home Retention department for existing borrowers who need mortgage assistance.

The department’s main job is to help borrowers stop foreclosure through refinancing and loan modification. Refinancing gives borrowers the option to shift to better loan terms, especially for those with adjustable-rate mortgages that have reverted to standard rates.

For seriously delinquent borrowers, a better option may be loan modification. The Ameriquest loan modification process stops the foreclosure proceedings while borrowers negotiate better terms with the company, allowing them to get current without the risk of losing their homes. AMC loan modification requirements include a proof of financial hardship, proof of income, payment history, and bank statements showing the borrower’s financial situation.

AMC is one of the more aggressive loan modification services around, and its home retention agents are especially helpful. But to get real results, the best solution is to get a loan modification attorney. Like other sub-prime lenders, AMC is more willing to work with clients who have legal representation. A loan modification attorney will help you negotiate better rates, provide legal foreclosure assistance, and ensure faster response from AMC.