Ameriquest Mortgage Company
Ripoffs customers by charging THOUSANDS in settlement charges Sterling Heights Michigan

First of all, I am not an idiot, but it would appear that I do play one in real life. I am an AMC victim.

On May 9, I received a letter from a law firm in Chicago that is specializing in suing Ameriquest for violations in their Truth In Lending Disclosures and other mortgage documentation issues. Coincidentally, I also received a notice from Ameriquest the same day informing me that my rate had adjusted. This prompted me to revisit my mortgage documents.

To my jaw-dropping surprise, the mortgage that I had refinanced with Ameriquest 2 years prior was $12,000 more than my original loan. $10,232.52 of that amount went to "settlement charges to borrower". How does that happen and how does one miss that? If you have refinanced with any mortgage company, as I have before this, you know the routine.initial here. Sign here.initial.initial. The loan officer sums up what you're signing and all you care about is that your monthly payment and interest rate is lower than what you previously had. Let me also mention here that we never were informed of any prepayment penalty until the closing.

As I said, we refinanced with Ameriquest two years ago. I'm embarassed to say that during that time I never went through the mortgage documents with a fine-tooth comb. Nor did I really pay any attention to my loan balance on my statement every month. I just knew what my payment was and was happy to sign the check.

Now, I am not so happy. If I were to sell my house tomorrow, I would lose $12,000 that should be mine. I can't help but feel that $12,000 has been stolen from me. I never would have signed for a loan that was $12,000 more than my original loan. Would you? They never uttered that figure during the sale or closing of the loan. That much I do remember. Forget what was printed on the documents. They deceived me and I am embarassed.

Now, I am seeking legal help. I have photocopied all of my documents and am ready to send them to any law firm that is willing to take my case. If you have any suggestions or can relate to my situation, please respond.

Company: Ameriquest Mortgage Company
Country: USA
State: California
City: Santa Ana
Address: P.O. Box 11000
Phone: 8003251493

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