My husband and I needed to refinance our mortgage after our son's medical condition caused him to have to have surgery late last year.
We were hounded by Ameriquest to use them, and they offered what we thought was the best deal, so we went with them.
First of all they inflated our appraisal. They said our home was worth $98,000 when it's in dire need of several repairs. We were told by the crook, I mean salesperson (Frank I believe) that it would be "no problem" getting our home appraised for what the company needed it to get appraised for.
Secondly, my husband and I were both there for the closing and were shocked when we noticed certain "fees" pop up when we had specifically been told there would be no fees. When we questioned the fees we were told not to worry, that the fees were not what we thought they were for and were standard.
Thirdly, after my husband and I started having problems being double billed and not having payments applied on time I called the customer service line and was told, to my surprise, that they would not talk to me because I was not on the loan. I about had a cow considering that I never, I repeat never signed anything giving Ameriquest the right to remove me from the ownership of my home. It took my husband calling them over twenty times to get them to finally put me back on the loan.
Fourth of all, my husband and I got behind in the payments due to my son suddenly getting worse and needing to be homebound. I wrote out a special forebearance letter and called them a month prior to having problems paying to make them aware of the problem and was told that they would suspend payments until we had things under control.
That was in August, and we have not been able to make September or October's payment due to me not being able to work because my son has to stay home. I got yet another shock from Ameriquest the day before my son had to be admitted to the hospital for testing... A letter telling me that if we don't pay (in full) $1,700 by 11/08/05 then they will be foreclosing on our home.
My husband and I have been diligently sending in money when we can, and have kept in regular contact with Ameriquest (during their many many many daily phone calls to our home, cell phones, and my husband's work) and they have not once sent us any late notices, information on how to better rectify anything, or offered mediation (which is what they are required to do according to our contract with them). The only thing we have been told is send money when you can and let us know as soon as things get back to normal.
I am now searching for an attorney that is willing to take the case. My husband and I are both completely broke, my son is still homebound, and now we are facing the possibility of losing our home.
I think we would have been better off bashing our heads up against the wall rather than try to deal with these people. It's funny, the very same company that called us several times a day now won't even speak to us.
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