AMC Mortgage Co (AKA Ameriquest) charged us tens of thousands of dollars on 2nd and 3rd refinance with them, including prepayment penalties which were not disclosed in Good Faith Estimate, as we were "assured" we would not have to pay.
Final straw was having our Homeowner's Insurance cancelled when the premium was not paid, for over 6 months, out of our impound account. (personally sent them copies of bill 4 times) When we told them this is their fault and to fix it, they got us another policy with a different co. But at a premium more than doubled from the other... Passing the extra cost on to us, plus we were without coverage for many months. They have stated to our attorney, yes, we are suing them, we received the reimbursement of $1440 from the cancelling co. This is a lie and they are liars. All of this can be proven, as we keep very good records.
The new policy says date of coverage as beginning on 10/22/04, which is impossible, we weren't even cancelled until 12/22/04! Whenever we received a Cancellation Notice from the insurance co. Ameriquest would get a call from us and faxed a copy of the notice. They would then say it would be taken care of. A week later, a Reinstatement Notice would be received. This happened 4 times!
Our property taxes weren't paid on time, out of same impound account and we were assessed a penalty by the tax collector. Of course, Ameriquest passed this cost to us out of our impound account. They were notified by us that the taxes weren't paid and their tax department representative said to us..."Well, what do you want me to do about it???" That's when our attorney was given the go ahead to use his legal expertise.
Since we have gotten absolutely no cooperation or satisfaction from AMC Mortgage Co, AKA Ameriquest, we decided to refinance again with a different lender, just for the sole reason we cannot trust them any longer. They are charging us thousands of extra dollars again in prepayment penalties, non existant late charges, interest charges on interest!!! And they also tried to ruin our credit with the credit bureaus!!! Credit rating of almost 700 points fell to 510 in ONE day when they were contacted for Payoff amount by new lender.
They cannot find nor give reason for lost impound account monies. They reported our property taxes paid before 12/31/04 to IRS when actually paid 02/05... Isn't that illegal? Our attorney found several mathematical errors in paperwork totalling $300 or more each error. And, of course, the many lies and excuses trying to cover their huge corporate ass!!!
This company has just gotten too big for its britches! And, someone, somewhere, is getting awfully damn rich off the backs of people like us!
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