Ameriquest Mortgage Company
Ripoff preying on desperate victims lying outright

Like many other reports, I fell victim to a Predatory Lender. I was in a financial bind during the middle to end of 2003 due to job loss and out of the blue I get something in the mail from "Ameriquest" (wonder how that happened). I read the insert they sent and called and was promised a cure all to my situation. I refinanced my home and was lied to about what my payments would include. I was told that escrow would be set up to take care of my insurance and taxes in the payment. That is not what happened. After the deal was closed, I recieved a notice about insurance and that I needed to take care of getting a policy on my home, or else! I called upset and asked what the problem was, because I thought it was included in my payment, well their answer was just "NO" we thought we told you, etc. Etc. Well I specifically asked for it when the person came to my house and even signed a paper stating such. I reviewed all my copies and it magically disappeared. Needless to say I was only making 800.00 a month and going to school also and they set my house payment up to be 694.00 a month.

I couldnt then and cannot now afford this and have compromised friends, and my credit alltogether just to keep my home. I just found out that lending companies are not supposed to approve loans unless they are sure a borrower has the ability to pay, well case and point.

Now I am totally done with this company because I recieved a check for 5000.00 from my home owners insurance company from damage to my home from Hurricane Ivan which was written our to myself and Ameriquest. I called them and asked what the procedures are in this case. They said and I quote "endorse the check, we will sign it and overnight it back to you". Well after 7th day and no check in the mail, I called and they inform me that the check is in an escrow account because they want to monitor repairs on my home and want to divvy out the money as they see fit. I asked if it is common for them to decieve people and they basicall said the person I talked to did not know the policy. I feel sad that companies prey on desperate people and have the opportunity to take away someones livlihood and home. I am willing to do whatever it takes to get my word out and get revenge.

Company: Ameriquest Mortgage Company
Country: USA
State: California
City: Los Angeles
Address: PO Box 51382
Phone: 8004305262

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