Ameriquest Mortgage Services Inc. Aka AMC Mortgage
Ameriquest Mortgage will not let you out of the bad credit loop even when you have good credit

Ameriquest is simply a predator lending company. There is no doubt about that after I got tangled in there web. I got financing for my home 4/28/04 with a 2 yr. Fix interest of 8.05% and adjustable thereafter, with a prepayment penalty if paid before 3 yrs. The adjustable was due to start 6/1/06.

I was called by an Ameriquest employee sometime back in september of 05 I believe and told that due to by excellent payment record I am eligible to refinance and take advantage of the now low rates before it rised anymore and tie down a fix rate for the duration of my loan. I was also promised that the prepayment penalty would be waved if I decided to go ahead with the refinancing now.

I must let you now that my original loan is only for $77000.00 of which more than $6000.00 was Ameriquest loan fees. I had a bankruptcy back 10/98 not because I'm a dead beat but because I'm self employed and I was stiffed by a company that owed me a lot of money an I took the bad advise of a greedy lawyer. It was discharged 10/03. This is the premise from which Ameriquest gets to sink there tenticles into me. I was promised at the time of the original loan that as soon as 2 yrs passed after the discharge and I had good credit I would be able to get refinacing at a preferred rate and the prepayment penalty would be waved as a valued customer.

That was a lie. A bold face lie. I provided over 200 pages of documents to prove my income had a credit score of more than 720 and these awful people had the nerves to tell me that they can put me in a fix rate loan of 8.75% on a 15 yr loan. However they are not able to wave the prepayment penalty an their loan fees are about $6000.00 on my new balance of $72000.00. My wife disconnected the phone before I got to tell them where they could go with that kind of preferred loan package.

I am happy to say that I am now enjoying my new mortgage company which had very minimal fees a rate of 6% fixed for 30 yrs. On 110k mortgage. Got over 30k to boost the business.
But best of all I concur with another writer that even if they offered a 1% fixed rate with no fees I would not go back with them.
I am interested in finding out if there is anyway I can recover some of that $2900.00 in prepayment fees, from the settlement with the florida attorney general.

Company: Ameriquest Mortgage Services Inc. Aka AMC Mortgage
Country: USA
State: California
City: Orange
Address: 505 City Parkway West, Suite 100
Phone: 7146342474

  <     >