I copied all the 150 complaints against Ameriquest Mortgage as of two weeks ago, Jan 1 from usacomplaints.com and filed a criminal report as a peace officer to the following:
Attorney General Bill Lockyer
California Department of Justice
Consumer Fraud Division
P.O. Box 944255
Sacramento, CA 94244-2550
I also filed a Post on usacomplaints.com as it was necessary to refi the property at a cost of $12,000 in processing and loan fees, etc a shark feeding frenzy on any property financing and we have sustained both financial and personal injuries as a result of the misconduct of Ameriquest Mortgage.
At issue, they arbitrarily changed the interest rate from the LIPOR to the FEDRATE and changing the time periods the interest rate changes from once a year to every six months.in addition, during escrow the California Earthquake insurance was to be paid by the impound accounts. They arbirtarily deleted this contracutal obligation much to our surpise while we were on vacation. Under law if the earthquake insurance lapses, you cannot purchase another policy within California. That call from our insurance agent cost $2200 and we were totally blindsided.
Now looking for a very high power attorney firm to take Ameriquest into court in class action for their misconduct and the AG has confirmed they will look at the matter for possible criminal misconduct.
I am looking at the lawfirm of Johnnie Cochran in New Orleans to process the class action lawsuit. I encourage everyone who is ripped off to contract that lawfirm. They are on the net and listed in New Orleans.
Reason for this is simple, if we band to togher, then we have a substantial class action lawsuit for recovery and refi of the properties to another lender will be repaid plus any injuries sustained.
At issue is Ameriquest was not following the contract and note which specified the loan was tied to the LIPOR rates in England and that the interest rate was subject to change every year on October 1. They are instead using the FED RATE every six months, which constitutes breach of contract and lending fraud. Repeated attempts to correct the mortgage payment were in vain, they did not respond to the certified letters.
Jack
Deputy Sheriff
Southern California
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