• Report: #201162
Complaint Review:

AMC - Ameriquest Mortgage

  • Submitted: Fri, July 14, 2006
  • Updated: Fri, July 14, 2006

  • Reported By:Houston Texas
AMC - Ameriquest Mortgage
P. O. Box 11000 Santa Ana, California U.S.A.

AMC - Ameriquest Mortgage ripoff One tough lesson!! Santa Ana California

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I refinanced my home with Ameriquest in 2004 through the North Houston office. At that time my home was worth about 160K and I owed about 134K. I got cash out of the refinance and thought everything was great. Low and behold about about 22 months later (2 months before my rate was to begin to adjust) I got a call from a representative in the Portfolio Retention office in California asking me if I was interested in refinancing. She slipped to me that my home appraised for 230K in 2004 and asked me if I thought it was now appraising for 247K now so I could qualify for the refinance.

I immediately told her that appraiser was extremely wrong and super inflated. She pretended to care and assured me she would research it and get back with me in 2 days with further information. I knew that was BS and she was sorry she had shared the appraisal info with me because I was pissed as ever. She never called back. I started calling her about 5 days later and after she had avoided me long enough she got on the phone and offered me a refinance with an 8% rate on a 2 year ARM. She told me she had no fixed options for me. I asked about fees and she pretended not to know off hand. She told me that the fees would be outlined in my good faith estimate. I got the estimate and the fees were d**n near 8500.00.

I told AMC thanks but no thanks and determined to get away from them. I started shopping around to refinance and I was turned down several times due to the fact that I have a 181,000 loan for a home that is worth 148K. I am stuck in this loan (So AMC thinks) I applied for a short sale (AMC's version of a short sale)just to unload the home and move on with my life. I have to get 155,000 for the home per AMC. It doesnt matter that upgraded models of the same home I have have sold for 147k and 145k. I am not hopeful that the home is going to sale at that price and at this point I have developed the attitude that I cannot let that worry me. I have learned one hard and costly lesson. I am contemplating just packing it up and taking the credit destruction. I do not have much credit just the home that is now consuming about 65% of my income. What a tough lesson to learn.

Houston, Texas

This report was posted on Ripoff Report on 07/14/2006 09:52 PM and is a permanent record located here: http://www.ripoffreport.com/reports/amc-ameriquest-mortgage/santa-ana-california-92711/amc-ameriquest-mortgage-ripoff-one-tough-lesson-santa-ana-california-201162. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

Click Here to read other Ripoff Reports on AMC - Ameriquest Mortgage

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
Ripoff Report Recommends
ZipBooks Accounting Software

Advertisers above have met our
strict standards for business conduct.