Ameriquest Mortgage AKA AMC
Refinanced my house at nearly $20k more than the house was actually worth

I conttacted Ameriquest about refinancing my house. I wanted to get it fixed up to sell. Ameriquest (now calling themselves AMC), gave ne the name of an appraiser they use. I contacted her, the house was appraised, and I was told that I could refinance for $75k. I honestly didn't think that they would loan me more money than they could get out of my house, so I took the offer, believing it to be a valid amount.

Less than a year later, when I began calling realotrs about my house, they were in shock. I had 3 different realty companies do a CMA on my property. It seems that property in my area declined drasticly after the 9-11 attacks, and that for several years property values were at all-time lows. The realtor I am working with has set up a "short sell" for me, meaning that we will get what we can for the house (right now it is worth less than I paid for it).

I began getting phone calls from Ameriquest about my past due mortgage payments. I informed that the house was for sale, and that they need to go through my realtor to talk about the house. I was told that I needed to fax a letter tio Ameriquest giving them permission to share the info with my realtor, and this would stop the calls. I did so, but the calls continue to come. I am going to file a complaint with the State Attorney General for preditory lending practices. I am also going to file a complaint with Ameriquest itself, although by the looks of the reports in this forum, it will do no good because Ameriquest is out to get their money with little or no regard for their clients. I will advise everyone I know NOT to do business with this band of thieves.

Company: Ameriquest Mortgage AKA AMC
Country: USA
State: Indiana
City: Indianapolis
Address: 1100 Town And Country Rd, Orange, CA
Phone: 8004305262

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