AMC-Ameriquest Mortgage
AMC - Proud Sponser of the American Nightmere - why take a little when you can take it all!

Went to get a equity line of credit on some properties I own and purchase a new house for about $390,000, It was a good deal and It was close to my home I live in. I got a littel cash advanced money upfront prior to closing on the equity lines, and the purchase did not go through on the house I liked. This was in November.

In December I was told that I could still buy the house, and Ameriquest could give me the financing terms I needed, Went to the closing of the equity lines, was told that they would make the corrections on the documents I signed that said it was a refi, and that I would be refuned, I refused to sign the papperwork, Then I was told I had to or they would start forclosure on all 4 of my properties because of the cash advanc I recived.

Apparently what I signed was a mortgage that wraped up all of my properties, I was helpless, nothing I could do, They had the right to reposses my properties in less then 1 month if I did not refinance. Then they hit me for about$70,000.00 or so in refiancing charges. Not to menttion the prepaymnet penalties of about $60,000.00 which is why I needed an equity line in the firest place. To make thing wores, the house that I wanted to buy, was sold to someone else And I ended up closing on another house in the hood with similer adress for $390,000.00 wore yet, I come to find out that this house is really on worth about $250,000.00 or less.

I am new to real estate investing, I never thought anything like this could possiable happen. I am on the edge of lossing everthing. I was told not to pay the mortgage and now my credit is ruined, AMC wont help, nobody is talking to me, and it is very hard. I depended on real esate investing, now I need to find another way to survive. I am searching for attorney to help me, however I can not affored to pay $10,000.00 a month to fight at this time. I am broke and will be filing for bankrupcy or faceing forclsoure on all my properties witch have a net worth of about $1 million. So much for college. Where do you go from here.

Company: AMC-Ameriquest Mortgage
Country: USA
State: Florida
City: Fort Lauderdale
Address: South Florida
Phone: 9546876887

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