Ameriquest Mortgage, Argent Mortgage Elderly man, two sets of documents with two ages, and he DID NOT own a business Orange California

Here is my story and I hope somebody learns from it. My father was 80 years old in May 2003 when Ameriquest/Argent Mortgage got hold of him. He passed away a month later, June 2003.

Once I discovered paperwork for this loan it became clear something was not right. Going through his bills, I encountered the first loan payment due July 2003 for $902 dollars. My father was on social security bringing home about $863. How could a man qualify for this type of loan, and the loan payment be more than his income?

I found two sets of a "Uniform Residential Loan Application" in his home. One had been faxed from Citco Mortgage, which was the broker involved, and there was a second with different information. Discrepancies: One was a conventional; the other left blank. One reflected a "fixed" the other, adjustable. One reflected my father's age as 58 years old, the other 35 years old. Remember- he was 80. Both applications reflected he owned a business located at the house, which he did not. One application showed the "market value" or real estate owned to be valued at $152,000 the other $135,000. I have asked and never been supplied with the appraisal report. One application reflected total assets of $202,559 the other $185,000.

On June 24, 2003, I started contacting Ameriquest to speak with head of loans at. I called again on July 2, and July 9th. My first contact came from Debbie in the collections department. I later received a Notice of Intention to Foreclose on my father's property. I made one payment to Ameriquest until the situation could be straightened out.

August 18, 2003, I called the number on the foreclosure statement, 800-430-5262, to get the number of the legal department. Spoke to a Sharon at Ameriquest. Sharon did ask what she could do. I asked Sharon point blank what the process was for having papers signed. Sharon said customer comes into the office or a broker will go to the residence. All is done with notarized signature. I told her about the age, and all discrepancies. It was confirmed the loan docs reflected my fathers age of 35 with his own business. I thought you had to provide documentation about a business if you were self employed. Sharon confirmed you did. Sharon said W-9, credit report/history, copy of driver's license number, ss card and copy of pay stubs were required. During this conversation she was providing me with additional information when we were cut off. I called back and left a message for her and never received another call.

August 21, 2003, Collections department contacted me wanting more money.

August 22, 2003, I was contacted by an invidivual in the Internal Controls Analyst from Argent Mortage. She was calling me instead of the legal department. They told me they would contact my estate attorney. I asked for a copy of the loan papers on file.

September 4, 2003, A review had been done and all signatures on the documents were the same and look to be my father's, and my father had self certified to his income giving a signed document of how much he makes. When I asked for this document I was told that was confidential information and they would contact my estate attorney.

February 9, 2004, I called asking about the missing self certification my father signed. The individual denied knowing anything about it, refused to speak with me said she would ask her manager and get back to me.

February 17, 2004, I was told to contact the broker who had gathered the information for my father's loan. I was given that information and when I attempted to do so, I was told the broker had quit and left no forwarding information.

April 23, 2004, I received a letter dated April 20, 2004, disputing my claim of predatory lending act.

Ameriquest said that the early pre-payment pay off penalty would apply even tho my father had passed away and the estate was being sold. They had that loan for about one month and made thoughsands on it; it should never had happened.

When you lose someone you love you should not have to deal with something like I experienced. This was the only thing my father and my mother who passed several years before had to leave to their children and to have it taken from them is sad.

Carol
North Highlands, California
U.S.A.

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