I refinanced my house in October I had alot of equity in the home, or so I thought I did. Ameriquest told me they would pay off my credit cards, and I would still get cash back to help with home improvements.
Well needless to say none of that happened. They push the close through as fast as possible, so you don't even have time to think. An old man came to my house at 8:30 pm to close the loan, he was sick and in a hurry. I get up early for work, so I was tired too. He pushed the papers at me in record speed, and then left.
When I got my statement of the close, my credit cards were not paid off, and there was nothing more then a few hundred dollars cash left.
So what did I get? A higher interest rate (higher then the original one I was told, a larger mortgage payment, and a huge pain.
So what happened? Being a single parent, I was no longer able to pay the mortgage, why you ask, because they inflated my income by $1,000 a month
To make a long story short. I ended up having to put my house on the market. Well this story doesn't end there. At the closing of my house I had 7 thousand dollars of prepayment penalties, on a house that was over appraised in the first place. AMERIQUEST made more money on my house then I did.
I filed a complaint with the Attorney General in Minnesota, but that got me nowhere. So what do I have now? Nothing, not a thing to show for a house I worked very hard to keep. Thanks Ameriquest, biggest scam in the country. I hope all the employees that do this scam for Ameriquest sleep very well at night, because they will get theirs in the end.
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