AMC Mortgage Services, Ameriquest ripoff, scam artists, deceitful Orange California

I am real glad you came back on this site.
You really need to get in contact with my attorney.I just went to court and i was a very happy person when i left.
You need to talk to richard and black from holland mi they are very helpful.
I work at target in jackson as cashier.I hope we can meet soon.

To check on class action lawsuits, go to the following lawyer and settlement website:

((( link redacted by ROR)))
It sounds like you got into one of those "Option ARM" loans. They start out with an extremely low teaser rate, then after a few years, revert to an a fully adjustable loan.

First, let me apologize on behalf of the mortgage industry to everyone out there who got into one these loans without fully undetstanding or having all the factors of the loan disclosed. I have always tried to make sure my clients know the pros and cons of all loans (I do not work for either of the companies mentioned).

The difference in the rate between the "teaser rate" and the fully indexed current rate, will be negatively amortized onto the back end of the loan. In layman's terms, the difference between the going rate and the teaser rate is addedd to the balance of your loan.

Another problem adding to this factor is, the value of real estate in most areas has gone down from what it was 1, 2, or even 3 years ago. This has, in my opinion, caused the fallout that we are now seeing with foreclosures on the rise.

I, too, was talked into one of those "Option ARM's" by none other than my manager (at the time). Although I understood the negatives of the loan, I was not aware of some of the language that was buried deep inside of the loan package.

I thought, at the time, that we could just make payments higher than the minimum and it would help to reduce the "neg am" effect.

To my horror, I soon learned that the bank in question (Downey Savings) was not crediting my extra payments to the principal as I had directed. I was in a lose/lose situation.

My manager had also put me into a "3 year hard pre-pay" without telling me. This means, that if I were to sell or refinance the loan, I would have to pay a penalty of over $7,000. My manager got a huge commission for doing this to me.

I was pretty sure that interest rates would continue to rise, so I bit the bullet and refinanced to a low, interest only, fixed rate.

Now, if I want to make a minimum payment, I just pay the interest only. If I want to make an extra payment to principal, I do. My loan is no longer adjustable, and so will never rise! This type of loan is a much better option, in my opinion. I can see that my principal is being paid down when I make the extra payments.

Here are some more tips that I hope may help:

Negotiate a low interest rate on your credit cards. Use this to pay off your difference between what you owe and the current balance of your appraised home value (do not open a new credit card account, though).

Although this will show as a debt that will be used in the debt to income ratio for re-financing, if you can negotiate a low enough rate on the credit card, it should be negligable.

Find other streams of income. A few ideas are:

Rent out a room in your home.

Have a yard sale.

Start an online business that you can run while still working your regular job.

Do babysitting, dog walking, or some other part time work to bring in extra income.

In short, reslove your financial problems by using your brains and immagination. It does work, as I am living proof of it.

Good luck, and I hope this info helped!

Well, I haven't gotten any settlement money yet which means I can do as I choose as far as moving forward legally against AMC. Michigan Goverment is "WELL" aware of what scammers AMC is and do to AMC's scamming ways all 222 AMC places were closed down here in Michigan. It's just a matter of the waiting game but AMC "WILL" go down!!!


Thank you stacie for your reply... how can I contact you???

Amc is happy you signed the lawsuit! why you ask? well you get about 800.00 bucks!!! Yippie!! in return they get a signed form stating you CAN not ever sue them again!

you do the math!

LET THIS BE A NEW BEGINGING I AM FROM Jackson Mi.
You need to put your head up and dont let these people get away with this you really need to read the holland post over and over it will give you alote of information that could help you out!!!!
Just keep reading them it will all come out in the wash.
Also im sure they did alote more to you with you knowing it. Ive been in this business for years and they really took me on a ride.
Good luck any thing we can do to help just write

You will win in the end!! Just dont give up