Ameriquest Mortage ripoff inflated apprasal high interet rate Rochester New York

FYI inflated appraisals hurt lenders, they don't help them. If an "appraisal" is done for 300K and a loan of $280K but your house is only worth $200K and you stop making payments and go to foreclosure they will get a whole hell of a lot less at sale than owed on the loan which results in a LOSS to the company. Appraisals were inflated due to extreme pressure from loan officers to do higher loan amounts and make more $$, plain and simple. If you have an appraisal issue you need to take legal actions against the 3rd party appraisers. Hope this helps.

Have a attorney read your loan docs with a fine tooth comb. My appraisal was inflated 45.000 which I did not learn until over 2 yrs after my lawsuit started.

They bait you so you can never go to another lender because they appraise your home so high, which I didn't think too much at first because I'm in a neighboorhood where homes go for 90.000 ..to 300.000.. in a 3 mile radius.

But appraisals are based on square footage, age of home ect. So really have this checked out. Good luck and God Bless
Kay

I think this company is committing appraisal fraud. It is only hurting us victims. Try to refi and not one company will touch. I suggest you go through your closing docs with a fine tooth comb, and hire an attorney before it is too late!