I have sent the information below to the US Department of Justice, Criminal Division in Washington, D.C.
Dear Sir or Madam:
I believe Ameriquest needs to be investigated for corruption.
In the past I made mistakes, and they created financial problems. I got behind. All creditors were willing to work with me except Ameriquest. I had to file a chapter 13 to stop their rush toward foreclosure. This means the Chapter 13 was specifically to provide protection from Ameriquest. However, they went ahead and began the foreclosure action by replacing our name with their name on the title. Whether this was an error or an intentional action is irrelevant, it has been done. This thought might shed a little light. When most of us make a mistake, we take action to correct it. Had they taken action to correct that, I might never have learned it had occurred.
Just as I was obligated to the court to make monthly payments, Ameriquest was obligated to accept financial instruments tendered, credit them to my account and properly acknowledge payment. From the beginning Ameriquest has been in default regarding the acceptance of my payments. I can document making monthly payments, as required by the court. I can also document that from the beginning Ameriquest has failed to properly acknowledge my payments. The documentation indicates they may also have failed to credit them to my account. There are two possible reasons for these failures I can document. It is possible they decided that having begun the foreclosure action, by replacing our names with their name, they would ensure the completion of the action, with no regard for the court order or my rights. So, while I was making monthly payments I can prove, they reported that after several months I had actually made no payments. When I provided documentation proving they already had the money, they refused to correct their records to show no default had occurred and recorded that I had cured the default, as if I had sent in a lump sum payment. A few months later, the same false report of default was generated, with the same result. Finally, after several such reports, they sought the complete elimination of my chapter 13 protection. This time, they referenced all of the previous false assertions, again asserting I was in default and asking the court to grant them a release from the hold against their completion of the foreclosure. That was granted.
The second possible reason for the actions, I can document, would be a serious problem in their accounting practices. When my payments arrive, I am confident they debit cash to keep their cash records correct as they deposit the financial instrument I sent in. It is impossible to guess what they do with the credit. They clearly don't put the credit in my account to reflect the receipt of a payment. Otherwise they could not periodically report me in default. This would lead me to believe they actually credit payments to my account when they say I cured the default, instead of monthly as I make the payments. If this does occur, it leads to overstatement of interest income, and overstatement of assets due to overstatement of my remaining balance. This is shown in enclosure (1) which is a simple spreadsheet. The interest is accumulated monthly, not daily. A beginning balance, and interest rate, is used that make the calculations simple. The result however does demonstrate the overstatement issue.
As shown in the above, chapter 13 protection did not actually happen. The court was impotent to protect me from Ameriquest in their rush to take everything from me. I now face the completion of their foreclosure, which will mean I move out. My hands are tied such that I can neither sell the property to recover some of what is mine, nor refinance to eliminate Ameriquest. But, I should not even be in this position.By the way, there is one thing about me that also merits mention. According to the VA I am a service connected disabled veteran.
Robert
Salem, Oregon
U.S.A.
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