I had already had a mortgage with Ameriquest and after speaking with their sales rep (if that's what you call it) they convinced me to refinanced with them again which I did last December. To change my rate somewhat but more to get some money out to do repairs. MISTAKE! I don't think I've every actually mailed a payment to them. They always had a good way of convincing me to set up payments by phone with them. SOmetimes 3 at a time. I don't like doing that because something could change during the month. Well they convinced me to set them up right before I would get charged a late fee. Unfortunatelly that's not necessarily when I got paid, but they told me not to worry it took at least 5 to 7 days to process and post. Wrong. Payment went through the same night. Anyway the payment bounced and by the time I got notified by my bank and theirs I was into a new month.
Did you know that within at least the first six months if your loan is new with them and you bounce a check that goes into another month you can't pay one and then pay the new one the next week or even a couple of days later. You must pay them all at one time. Previous to this I had never been late in the 1 1/2 years I had my previous mortgage with them. But I guess that doesn't count. Well this became a roller coaster and I ended up owing them 3 months worth of payments. I tried working it out with them but the evil people wouldn't hear of it. I guess it's better for them to not be willing to work things out. Well they wouldn't and they don't. That started in 03/04. I did get one notice of intent to foreclose letter, yes just one, last april, and I continued to get my monthly statements which just kept getting bigger and bigger.
Well I tried everything I could think of to come up with the money and it didn't work. I was getting ready to get with an attorney to do bankruptcy paper's if that was what was going to save the house. Well after having some family issues, I decided to sell the house. I still hadn't paid anything since last march. I put the house on the market and two weeks later I got an offer. I was petried that they would try to stop me somehow. The title company sent them the payoff request and they actually sent it back to them. I ended up owing them a payoff of $183,991 on a $158,000 mortgage. I guess I should be lucky that I still had the house to sell. The funny thing is they called me two days ago. This lady said she had my file and saw that I had an interest rate of 8.5 and would I be interested in refinancing with them to a lower rate. I told her I sold the house. I would never never never get another mortgage with them. And if I ever buy another house I will check the lender out as thoroughly as I can.
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