Ameriquest Mortgage
Inflated property value ripoff

We refinanced our home in August. It appraised for $229,000. The appraiser used comparables that were NO WHERE NEAR what my home is like. She used bigger homes, on bigger lots with 2 car gagages (I have no gagage) and made minimal deductions on her appraisal. My home is 1268 SF w / 3beds, 2 full baths finished basement with another bedroom and a 1/2 bath.

We now have it for sale and can get about $180,000 for it. We borrowed $171,500 based on what Ameriquest told us. So, by the time I sell and pay my agent I have almost $0 left. We only wanted to cash out about $5,000 but was told because of the high appraisal we could get more. So, we took their word and did.

Two streets down from me is a brand new split level about 2,000 SF on a 1/2 acre lot with a 3 car attached garage. Guess how much it sold for? $229,000.

I am getting in contact with an attorney to see about filing a suit. I've read this from several other articles as weel, so I know I'm not the only one.

Anyone from Wisconsin with a similar issue?

Company: Ameriquest Mortgage
Country: USA
State: California
City: Orange
Address: 1100 Town And Country Road
Phone: 8774317997

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