I was refinanced by Ameriquest back in 1999. We were told at the time that we would be financed at a better rate in 2 years. We were rushed thought closing "because it was the end of the year". We did not recieve our copies of the paper we signed, because they said they were waiting for the written appraisal to come thru. But not even 2 months in to the loan they sold it to another company. I discovered early this year that I didn't have a copy of my papers. I was trying to refinance at a lower rate. I sent 3 registered letters and threaten them with a law suit before I recieved them. When I finally recieved all my copies, much to my surprise I found out that my home was appraised at 160% more than what it is worth.
I fell in to so hard times 2 years ago, and have been struggling to make ends meet. I can not get my home refinanced because it is not worth $165,000, but only worth $135,000 and have poor credit at this time, so no one will touch me. If I could afford an attorney I would consider a filing a lawsuit against them. Everyone that contacts me to refinace are interested until I mention Ameriquest, then I get the same reponse from all (we are sorry but thier is nothing we can do and applogize for the actions and the reputation that Ameriquest is giving the mortgage industry. I also reported them to the state license and regulation burea here in New Mexico, but it did no good. The head of the burea took the letter that Ameriquest sent them as the truth and nothing but the truth. He could not understand why a company would do things like that??? If there is anyway to sue them I wish someone would let me know.
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