Ameriquest's representative called me (because we are/were an Ameriquest customer for 5 years) soliciting to refinance. I told him no because we only had 3 months before we would be clear of the pre-pay penalty because we were ripped off before with this charge.
He said, "No problem - it's with the same company, so there won't be a penalty." At closing they told us to expect a check from Ameriquest within 2 weeks for the balance of overpayment, "because they always cushion the payoff a bit, then send you a refund". Weeks went by and no check. I called my rep in Minnesota asking about the check. He said I would have to call Ameriquest in California. They said the $8,000 was applied to the early pay off penalty. They told me I would need to talk to our representative in my state to straighten this out.
I did - 29 emails to him and his boss. All sorts of promises were made and still nothing. I told him I was going to file a complaint with the BBB and they stopped replying. I filed the complaint and got a nice letter from the "Office" of the President stating that in the contract we signed almost 3 years ago, that there is a sentence burried somewhere that says, "no verbal agreements are enforceable"... I didn't know anything about it, and I would think that our Rep would be competent enough to have known about it, since he required me to bring the Mortgage Note to his office before we could close! Oh wait - that's right - that's probably how he makes his commission! Ripping people off!
That's how they get you!!! Needless to say, the Bait and Switch, defrauding and misrepresentation tactics used on us, after promises were made to us by their representative, is typical of the scuzzy practice this company uses! They don't care about their customers, which is too bad considering Customers are the most important part of business!
Oh ya - I forgot to mention - They sold our loan to another Mortgage company 2 weeks after I filed the Better Business Report on them. My loan stays with them for almost 5 years, then was sold? Humm, feeling a little guilty? Doubt it!
My best friend and her husband are Realtor and own a Closing Company. Imagine how many customers they are losing now? Unfortunately, I don't think they care. Too bad and Shame on them! If you have a mortgage with them - Get out of it as soon as possible!!!
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