• Report: #144927

Complaint Review: Ameriquest Mortgage Company

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  • Submitted: Fri, June 03, 2005
  • Updated: Tue, June 06, 2006

  • Reported By:Manchester New Hampshire
Ameriquest Mortgage Company
ameriquest.com Santa Ana, California U.S.A.

Ameriquest Mortgage Company ripoff Santa Ana California

*Consumer Comment: I'm so sorry, fight back now

*Consumer Comment: Janet

*Author of original report: Home Foreclosed

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In August 2003 I was looking to refinance my second mortgage. I called several places looking for help. The person at Ameriquest mortgage said I needed to refinance my whole loan (which I did not want to do becuase I had a much better interest rate). He quoted me an interest rate and promised me that he could save me money.

At closing, I was told that the interest rate had gone up. My payments didn't include any escrow account. My original mortgage included an escrow account. They even had me sign a form saying that i would not bring any legal action agains Ameriquest or any one employed. A red flag should have gone up at that time.

I left the office with a sick feeling in my stomach. Days later I received the checks to pay off my credit cards. They didn't even pay off the full balances.

December 2004, I had once again gotten in over my head with credit cards and some unexpected expenses. I was late on my November payment and my December payment was due. I was told that unless I could pay my overdue balance and the current payment, then they could not take my payments.

They refused to help me in any way and they called me at work and at home several times every day. They gave me the name of a debt counseling business, that could may help me. They supposedly weren't affiliated with ameriquest.

I ended up filing bankruptcy. The lawyer for whatever reason chose Chapter 7. They hired some lawyers and petitioned the court based on my delinquency and my bankruptcy for foreclosure of my property. The judge granted this.

I tried to pay the balance off before the foreclosure took place, but they refused my payment then. Reason: My account was in bankruptcy and they don't allow payments to be made.

May 23, I came home to find several people pulling up to my house wanting to buy it. I found out it had been in the local paper. I received the notice of the foreclosure date on May 26.

This company has ruined my credit, has put me under more emotional turmoil than anyone should endure. I hope someone is able to finally get States to notice the predatory lending practices that this company is doing to the hardworking people like myself.

I will be reporting them to the attorney generals office and any other office that I see fit.

Janet
Manchester, New Hampshire
U.S.A.

This report was posted on Ripoff Report on 06/03/2005 07:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/Ameriquest-Mortgage-Company/Santa-Ana-California/Ameriquest-Mortgage-Company-ripoff-Santa-Ana-California-144927. 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

I'm so sorry, fight back now

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

Janet I'm so sorry you lost your home from this Co. We are all here on this site to help each other, to vent, blow off steam, also alot of good info from folks, also go to google,search ameriquest lawsuites, and i also found a site . I know your battle will be hard, but you can do it.Like we all say on this site WE WILL ALL WIN, right gang!!!!!!!!!!!!!!!!!
God Bless


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#2 Consumer Comment

Janet

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

Nothing any of the states did is enough. They all bailed on the consumer. Way too much politics and money changing hands. The states' attorneys all made a pile of money, though. The consumers are very lucky if they get $600 max. You need a private attorney, Janet. No Class Actions...

To quote an ex-HUD Asst Secretary (under the Clinton admin), who was recently on a Chicago radio talk show:

"Asking the Attorney Generals for help in Predatory Lending violations, is like the peasants of Robin Hood's day going to the Sheriff of Nottingham with a complaint, and expecting help..."

Take that comment as you see fit...

From my personal experience, and from reading about the experience of others on this forum, I have seen, or read, nothing that would contradict that statement.
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#3 Author of original report

Home Foreclosed

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

Ameriquest mortgage got their way and foreclosed on my home. I am now interested in looking for a lawyer in the New Hampshire area who would like to take my case. I filed a complaint with the banking department. As some of you had heard the New Hampshire banking department did fine them for predatory lending practices. I don't know if I will be a recipient of the $$ the banking department is receiving from them, but it definately won't be enough to go through the anguish and emotional distress I have been under for the past year.
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