We refinanced with Ameriquest Mortgage. They appraised our home and said it had increased in value by 50%. They offered me a mortgage at an interest rate I could not resist. They claimed that during that refi they would pay off my car and my other debts and still leave me a generous payoff.
When it came time to close the deal, the closing officer came to my house with a higher interest than what was previously promissed. He then explained to me that if I refinanced with Ameriquest Mortgage in 1 year I would be guaraunteed a lower interest rate.
That year was when our area was hit with 5 hurricanes. My husband lost his job due to the roof coming off and he was out of work for over 4 months.
We wrote to Ameriquest after calling several times asking if there was any way we could get some sort of assistance. We were told that there was a Hurricane Relif Moretorium and that we qualified for the program.
We were told that we could forgoe our paymens for 3 months and they would apply these payments on a repayment plan. The only stipulation was that at the end of the three months we were to pay a mortgage payment and a half of a mortgage payment.
We were happy to recieve this information and to be approved for such a program. A month in a half later we received a notice from Ameriquest that our payment had not been received and that our Hurricane assitance program was in jeopordy of being cancelled.
If this was the case what kind of asssistance were we getting if we had to still make payments and then have to make payments plus half of a payment after 3 months. This dosn't sound like any kind of asistance in my book and called them.
When I called I was told that there was never a Hurricane relief program and that we owed an ungodly amount of money or they were going to foreclose on our house. We didn't have that amount of money and there was no way we could come up with it.
If we did have that money we would not have asked for assistance in the first place. My wife and decided that we would try to refinance the house with another company.
When the other company pulled up my wife's credit report we found out that Ameriquest had started foreclosure proceedings on the house. We received letters from Ameriquest saying that they would work with us a repayment program.
But when we called they say there is no payment plan you need to pay everything up front that you are kate on and they would renegotiate the mortgage. We are talking about a total of $7,000.00 or more in late fees and mortgage payments.
Is there anything we can do to help us in this matter and get this company to stop making promisses they never intended to keep in the first place. How can we become a part of this Class Action Suit against Ameriquest Mortgage.
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