• Report: #122202

Complaint Review: Ameriquest Mortgage Company

  • Submitted: Fri, December 10, 2004
  • Updated: Sat, December 11, 2004

  • Reported By:jamaica New York
Ameriquest Mortgage Company
www.ameriquestmortgage.com Santa Ana, California U.S.A.

Ameriquest Mortgage Bank Ameriquest Mortgage Company rip-off! High intrest rates! Santa Ana California

*Consumer Comment: New Yorkers need to stand together against Ameriquest.

*Consumer Comment: New Yorkers need to stand together against Ameriquest.

*Consumer Comment: New Yorkers need to stand together against Ameriquest.

*Consumer Comment: New Yorkers need to stand together against Ameriquest.

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I refinanced with ameriquest. With the understanding that after a year my adjustable rate would be lowered. Yeh, right. the minium they would lower it too is 9.9% I was todley ripped-off because the loan office located @ their Queens, NY office. (Elmont, NY). told me it would be lowerd to a very low rate like 5%.

Now I'm in foreclosure & don't know what to do. Thye offred to help me after the courts entered a foreclosure judgment against me!! Now my hosue is up for auction.

Please people do not ever use them. go to a more convietional bank. Like Chase, Bank of America ect.

Regards,

Keith
jamaica, New York
U.S.A.

This report was posted on Ripoff Report on 12/10/2004 11:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ameriquest-Mortgage-Company/Santa-Ana-California-92711/Ameriquest-Mortgage-Bank-Ameriquest-Mortgage-Company-rip-off-High-intrest-rates-Santa-An-122202. 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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Updates & Rebuttals

#1 Consumer Comment

New Yorkers need to stand together against Ameriquest.

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

Keith,

When I saw your report and the Jamaica NY residence, the first thing I wondered was if you got the office that did my refi. It wasn't - we used the Hawthorne office and actually were going through a third party broker (Royal Consultants in Syosset) - but beyond that the story was WAY familiar.

The company offered to help after entering a judgement? That's surprising. Usually it's possible to mitigate the loan while it's in the foreclosure process, but once the court enters a judgement the house is theirs and the way is clear for an auction. (Far from offering to work with me, Ameriquest got an auction scheduled for less than thirty days after getting the judgement and never served me with a formal notice: I read about it in the legal notices. They even got the attorney I'd hired to buy the house in the first place to refferee the sale - apparently completely legal in NY.) Just out of curiousity, how did YOU find out your house was up for auction?

Two bits of wisdom: You might have time to file for Chapter 13, but to make it work you need to be on the lookout for anything Ameriquest might file with the court. READ THESE CAREFULLY. They may well claim that the arrearages you and your attorney claim are missing items and the actual amount is higher than your claim. Note their figures, crunch them up, and apply the formula your attorney used to figure plan payments. Nobody will do this for you: Ameriquest will probably wait until the deadline to file claims to formally file the counterclaim and only then will your payments to the trustee be reworked. The reworking will be retroactive to when you filed and that'll hit you with a balloon payment to the trustee: by looking out for this infor from the begining you can start setting the money aside to make that huge payment when it does come up. I didn't know this and nobody told me: as a result I couldn't pay the balloon payment and the bankruptcy won't be confirmed. While this isn't illegal, it's a handy tool for creditors to use to subvert bankruptcy.

Second: tell EVERYONE about your story: FBI, attorneys general, senators, congressmen, anyone you can think of. You will be blown off, I guarantee it... but the Alice's Resturaunt principle kicks in: one guy's a weirdo, two guys are a nusciance, but when a whole bunch of people turn up for the same reason it's evidence that something serious is happening. We're not going to stop this as individuals, we have to band together and stay together. Best of luck.

Read my story (Joseph in Hyde Park) for the specifics. We're in the same boat.
Respond to this report!
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#2 Consumer Comment

New Yorkers need to stand together against Ameriquest.

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

Keith,

When I saw your report and the Jamaica NY residence, the first thing I wondered was if you got the office that did my refi. It wasn't - we used the Hawthorne office and actually were going through a third party broker (Royal Consultants in Syosset) - but beyond that the story was WAY familiar.

The company offered to help after entering a judgement? That's surprising. Usually it's possible to mitigate the loan while it's in the foreclosure process, but once the court enters a judgement the house is theirs and the way is clear for an auction. (Far from offering to work with me, Ameriquest got an auction scheduled for less than thirty days after getting the judgement and never served me with a formal notice: I read about it in the legal notices. They even got the attorney I'd hired to buy the house in the first place to refferee the sale - apparently completely legal in NY.) Just out of curiousity, how did YOU find out your house was up for auction?

Two bits of wisdom: You might have time to file for Chapter 13, but to make it work you need to be on the lookout for anything Ameriquest might file with the court. READ THESE CAREFULLY. They may well claim that the arrearages you and your attorney claim are missing items and the actual amount is higher than your claim. Note their figures, crunch them up, and apply the formula your attorney used to figure plan payments. Nobody will do this for you: Ameriquest will probably wait until the deadline to file claims to formally file the counterclaim and only then will your payments to the trustee be reworked. The reworking will be retroactive to when you filed and that'll hit you with a balloon payment to the trustee: by looking out for this infor from the begining you can start setting the money aside to make that huge payment when it does come up. I didn't know this and nobody told me: as a result I couldn't pay the balloon payment and the bankruptcy won't be confirmed. While this isn't illegal, it's a handy tool for creditors to use to subvert bankruptcy.

Second: tell EVERYONE about your story: FBI, attorneys general, senators, congressmen, anyone you can think of. You will be blown off, I guarantee it... but the Alice's Resturaunt principle kicks in: one guy's a weirdo, two guys are a nusciance, but when a whole bunch of people turn up for the same reason it's evidence that something serious is happening. We're not going to stop this as individuals, we have to band together and stay together. Best of luck.

Read my story (Joseph in Hyde Park) for the specifics. We're in the same boat.
Respond to this report!
What's this?

#3 Consumer Comment

New Yorkers need to stand together against Ameriquest.

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

Keith,

When I saw your report and the Jamaica NY residence, the first thing I wondered was if you got the office that did my refi. It wasn't - we used the Hawthorne office and actually were going through a third party broker (Royal Consultants in Syosset) - but beyond that the story was WAY familiar.

The company offered to help after entering a judgement? That's surprising. Usually it's possible to mitigate the loan while it's in the foreclosure process, but once the court enters a judgement the house is theirs and the way is clear for an auction. (Far from offering to work with me, Ameriquest got an auction scheduled for less than thirty days after getting the judgement and never served me with a formal notice: I read about it in the legal notices. They even got the attorney I'd hired to buy the house in the first place to refferee the sale - apparently completely legal in NY.) Just out of curiousity, how did YOU find out your house was up for auction?

Two bits of wisdom: You might have time to file for Chapter 13, but to make it work you need to be on the lookout for anything Ameriquest might file with the court. READ THESE CAREFULLY. They may well claim that the arrearages you and your attorney claim are missing items and the actual amount is higher than your claim. Note their figures, crunch them up, and apply the formula your attorney used to figure plan payments. Nobody will do this for you: Ameriquest will probably wait until the deadline to file claims to formally file the counterclaim and only then will your payments to the trustee be reworked. The reworking will be retroactive to when you filed and that'll hit you with a balloon payment to the trustee: by looking out for this infor from the begining you can start setting the money aside to make that huge payment when it does come up. I didn't know this and nobody told me: as a result I couldn't pay the balloon payment and the bankruptcy won't be confirmed. While this isn't illegal, it's a handy tool for creditors to use to subvert bankruptcy.

Second: tell EVERYONE about your story: FBI, attorneys general, senators, congressmen, anyone you can think of. You will be blown off, I guarantee it... but the Alice's Resturaunt principle kicks in: one guy's a weirdo, two guys are a nusciance, but when a whole bunch of people turn up for the same reason it's evidence that something serious is happening. We're not going to stop this as individuals, we have to band together and stay together. Best of luck.

Read my story (Joseph in Hyde Park) for the specifics. We're in the same boat.
Respond to this report!
What's this?

#4 Consumer Comment

New Yorkers need to stand together against Ameriquest.

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

Keith,

When I saw your report and the Jamaica NY residence, the first thing I wondered was if you got the office that did my refi. It wasn't - we used the Hawthorne office and actually were going through a third party broker (Royal Consultants in Syosset) - but beyond that the story was WAY familiar.

The company offered to help after entering a judgement? That's surprising. Usually it's possible to mitigate the loan while it's in the foreclosure process, but once the court enters a judgement the house is theirs and the way is clear for an auction. (Far from offering to work with me, Ameriquest got an auction scheduled for less than thirty days after getting the judgement and never served me with a formal notice: I read about it in the legal notices. They even got the attorney I'd hired to buy the house in the first place to refferee the sale - apparently completely legal in NY.) Just out of curiousity, how did YOU find out your house was up for auction?

Two bits of wisdom: You might have time to file for Chapter 13, but to make it work you need to be on the lookout for anything Ameriquest might file with the court. READ THESE CAREFULLY. They may well claim that the arrearages you and your attorney claim are missing items and the actual amount is higher than your claim. Note their figures, crunch them up, and apply the formula your attorney used to figure plan payments. Nobody will do this for you: Ameriquest will probably wait until the deadline to file claims to formally file the counterclaim and only then will your payments to the trustee be reworked. The reworking will be retroactive to when you filed and that'll hit you with a balloon payment to the trustee: by looking out for this infor from the begining you can start setting the money aside to make that huge payment when it does come up. I didn't know this and nobody told me: as a result I couldn't pay the balloon payment and the bankruptcy won't be confirmed. While this isn't illegal, it's a handy tool for creditors to use to subvert bankruptcy.

Second: tell EVERYONE about your story: FBI, attorneys general, senators, congressmen, anyone you can think of. You will be blown off, I guarantee it... but the Alice's Resturaunt principle kicks in: one guy's a weirdo, two guys are a nusciance, but when a whole bunch of people turn up for the same reason it's evidence that something serious is happening. We're not going to stop this as individuals, we have to band together and stay together. Best of luck.

Read my story (Joseph in Hyde Park) for the specifics. We're in the same boat.
Respond to this report!
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