• Report: #261198

Complaint Review: ARGENT MORTGAGE COMPANY

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  • Submitted: Mon, July 16, 2007
  • Updated: Tue, February 09, 2010

  • Reported By:LYNWOOD Illinois
ARGENT MORTGAGE COMPANY
30 EXECUTIVE PARK SUITE 200 IRVINE, California U.S.A.

ARGENT MORTGAGE COMPANY I RECIEVE A ARM LOAN I AM ON DISABILTY I LOST MY HOUSE THEY LIE SAID I HAD MORE INCOME THAN I HAD RIPOFF IRVINE California

*Consumer Comment: Truth or Dare (subprime loan)

*UPDATE EX-employee responds: To the "employee" above

*UPDATE Employee: Untrue

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In Aug. of 2004 I recieve a loan for 185,250.00 I only apply for 165,000.00. It took three month to close and by then I was behind in my mortgage and taxs was do so I had to sign or I though I would loss my house.I didnot know it was a arm loan. I sign three difference sets of loan papers, they kept changing the numbers. I still have all the copys.After a month they sold me to Ameriquest mortgage and the monthly mortgage went up.Two month later they sold me to HomEq servicing and the mortgage went up again to over 1700.00 I was only getting 1800.00 from my railroad disability.I try to save my home but I lost it. I fell like they just took my house. Please can some one help me. We have to stop Argent Mortgage Company before this happen to some one else.

Gilbert
LYNWOOD, Illinois
U.S.A.

This report was posted on Ripoff Report on 07/16/2007 03:17 PM and is a permanent record located here: http://www.ripoffreport.com/r/ARGENT-MORTGAGE-COMPANY/IRVINE-California-92614/ARGENT-MORTGAGE-COMPANY-I-RECIEVE-A-ARM-LOAN-I-AM-ON-DISABILTY-I-LOST-MY-HOUSE-THEY-LIE-S-261198. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Truth or Dare (subprime loan)

AUTHOR: Tired - (United States of America)

To all that read this.  Subprime was good and then got abused. Your case is sad and many are going thru this. It sounds like you had many exceptions on the loan. How was your credit? Did you get cash out?  It seems like you did because you jumped up almost 20k.?  Did you tell them you have 3 days to cancel, even though you thought you were in dire you have pamphlets and disclosures you have to sign.  NOW Ameriquest was sad and a real rip off.  The original owner MR> ARNALL, well he got his very, he died at a young 54 yrs.  old. His also passed away from coplications of a disease don't know what it was.  Arnall started at Long beach mtg. was a smart man, as smart as MOzillo from C ountry wide.  He had innovation and good judgement until this crazy mortgage came thru.  Stated income was the ride and everyone got on and rode it.  Now Argent(aka Ameriquest)  lost 300 million in predatory lending, which means you should have got some of that money, but sounds like you didn't .  Then Arnall would be someone in Iceland and many ties to powerful people, and now that it's all over he is past away.  It sounds like a double edged  sword here. Cash out and gave your broker a lot of money.  You said you have the docs.  so if you want me to check them for you i would be happy to do that for you.  Your broker should have given you some protection, and explain the problems that you were having.  Remember Ameriquest is only doing what they are told.  I know this doesn't make it better, but I would really wish you the best.

Take care and God Bless.
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#2 UPDATE EX-employee responds

To the "employee" above

AUTHOR: Hatewamu - (U.S.A.)

To the poster above me, I am also a former Argent Employee. And you know, as well as I do that what you are saying is not true. First and foremost Argent aka Ameriquest was known as the biggest mortgage fraud company there was. 2nd, they were also know for forging signitures. Wonder why they are out of business now.
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#3 UPDATE Employee

Untrue

AUTHOR: Anonymous - (U.S.A.)

As an ex-employee of this company I know first hand their strict underwriting guidelines and if your income was incorrect you had to sign an application (1003) with that information on there, Oh I am sorry, was the info okay at the time when you wanted the mortgage? You probably did a stated loan and told your Mortgage Broker (who submitted loans to us) that your income was just that to qualify- if you didnt you agreed to it and your broker lied. Tell me something, if your on disability with limitedf income why would you refinance and take more money out if you knew you had to pay it back? Have a great day!
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