As I am now aware, I'm not the only one who fell into a pothole as a fraud victim by Ameriquest Mortgage Company. I refinanced with Ameriquest on February, 2001. I had refinanced with the intention of including all my credit card debt with my home mortgage into one affordable monthly payment.

My loan officer Jason Simms explained to me that all my credit card debt, property taxes and homeowner's insurance were all included in my monthly payment.

Then all of a sudden I begin to receive correspondence from credit card collection agencies, Prudential Insurance, and NYC Department of Finance. They all led to one thing: Ameriquest had never paid off my credit card debt, my taxes, as well as my homeowner's insurance.Prudential informed me of this by providing a Notice of Cancellation Due to Non-Payment of Premium. The NYC Department of Finance informed me by providing me with a Notice of Deliquency together with my newest Property Tax bill. And finally, credit card companies were flooding my mail box as well as my home phone with notices that my accounts were delinquent and were approaching a charge-off stage and some even offering me a chance to settle and paying 50-70% of my total debt.

Things just went from bad to worse when I refinance with Ameriquest. It went so bad for me that Ameriquest's actions led to my worst nightmare: Declaring myself Bankrupt under Chapter 7.

Before refinancing with Ameriquest, I was paying 8.25% interest. Property taxes as well as homeowner's insurance were included in my loan. Now after refinancing with Ameriquest, I am paying 11.15% interest with Ameriquest compared to 8.25% with Firstar Home Mortgage, my monthly payment went up from $1,732.14 with Firstar Home Mortgage to $1,989.99 with Ameriquest, taxes and insurance are no longer included with my monthly payment as they were with Firstar, my Pricipal Balance went up about $16,000.00, and worst of all, my credit went from bad to worse.

Ameriquest now contracted another rip-off company just like them to place me with homeowner's insurance: Fidelity and Deposit Company of Maryland. I am now being charged $2,153.00 for an annual premium as compared to $673.00 with Prudential. Also this policy only covers real prperty(dwelling) only. It does not protect personal property or liability protection of any kind as Prudential once did with me. Since my credit is now severely hurt by Ameriquest's fraud and negligence, I am having a tough time searching for homeowner's insurance due to the fact that insurance companies use credit ratings as a measure in deciding whether or not to provide insurance.

I have filed complaints with the NYS Banking Department,
Better Business Bureau, and the NYS Attorney General's Office. Unfortunately, I have only received a response from the
NYS Banking Department notifying me to allow Ameriquest with a thirty-day period so as to come up with a response.

I would not recommend Ameriquest Mortgage Company to the
WORST OF MY ENEMIES.

Ameriquest knows of all their wrongdoing and I think we should all unite and form a Class Action Lawsuit against rip-off giant Ameriquest Mortgage Company.

Ervin
Ozone Park, New York
U.S.A.

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