I live in CT and I took a refinance mortgage with Ameriquest in April 04-my husband and I had gotten into financial trouble and could not keep up with the credit card min payments and household bills. We had heard of Ameriquest through a co-worker of mine who was in the same financial stress as my husband and I. At the time it looked like our only way to survive and keep the house. We spoke to a very energetic and sympathetic mortgage lender at Ameriquest, he told us everything we wanted to hear, this was a repair credit mortgage (anyone ever hear this line) they sent an apraiser to my home who was there literally 10 min with a notepad. Walked in an out. According to the mortgage broker the appraisal needed to come in at 350,000-low and behold the appraisal came in at 350,000. We owed around 230,000 and all of our debt consolidation was around 25-30,000, when we got to the closing our bottom line mortgage with AMC was 315,000. They charged us around 10,000 for closing costs and then gave us a check that was overpayment because they did not want to do the paperwork over. We initialed around 100 pages. While there our broker stated that after a year our credit would be better and then we could refinance with them for a better rate, long story short our monthly mortgage went up after a year and the broker we spoke to no longer worked there in stamford! My husband lost his job in June this past year and we got behind on payments got the harassing phone calls every 45 minutes. Tried to get help from them and no one cared. What do the service reps care? They are 18-28 years old and there job is to pick up the phone and ask when can you make payment, I can post it over the phone etc... They don't document the calls half the time.in September this past year we had to put our house up on the market before Ameriquest would foreclose on the property. We had a preypayment penalty that would be over in 07'. The house sold in January, by the time we finished paying AMC off we owed money to people!!!
I am sick over the fact that I was duped as bad as I was. BUT, I have since heard of this class action suit brought on by 49 states, CT being one of them. If you break down the settlement, if I were to be qualified to be named in this suit, it works out that everyone gets around $600 or less. I have made several phone calls to my Attorney General's Office and have been playing phone tag with a woman there. My question is, does anyone think a lawyer will look into this for me to maybe recoup a little more of my pre-payment penalty paid or is my best bet the ATty General's suit? If you file the suit with the Atty General you can't go to a lawyer on your own (is this true?)
Would love any advice from anyone or anyone in the CT area.
Thanks
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