In july of 2004 I was contacted by an ameriquest agent and he promised me the world and yes he screwed me GOOD. My story is like everyone elses, but ill tell my story anyways. I was told I was getting a fixed rate for 30 years, my payment was only going to go up 100.00 a month on top of my 650.00 month payment and when I was little and in school my teacher taught me to add and I think thats suppose to come out to 750.00 a month. Well it's now 1007.00 a month.
I was also promised to drop a percent from 6.5 to 5.5 well its now 7.5 so it was raised a full percent.When the appraiser came to my home he was here for about 15min and looked around he then left. The agent called me about 30 min after the agent left (ameriquest agent) and told me my appraisel came in @100,000.00. Now I paid 83,000.00 for my home only a year earlier. He told me the appraisal was to low so I figured ok I won't finance he says well let me call my appraiser and I'll call you back. I said ok.
Two hours later my phone rang it was the ameriquest agent. He was upbeat and was happy to get me on the phone. He then says hey GREAT NEWS. I talked to the appraiser and he says that your home is worth 130.000.00. I was like wow that's great.
Boy was I in for a huge suprise. I then contacted the office the next day (after I signed papers on the day before) and asked to talk to the agent (jason) and they guy on the phone says he doesn't work here anymore?
Wow now I smell a skunk. The refinance I agreed on from ameriquest isn't the one I agreed on the old bait and switch. I tried to make the payments from july of 2004 until december 2005 and it caught up to me I was 5 days late on my payment when I sent it in and they sent it back to me I called and they said I need to make arraingments huh what the hell are they talking about?
Well they aren't takeing any money from me and have forced me into foreclosure and my home is up for sale on april 6 2006. So with all that said if anyone has any info they can pass on to me that would be great. I am seeing my lawyer friday morning and will post on how that all went.