Ameriquest
Ripoff Predatory Lending

My mortgage was sold to Amerquest Mortagage company about two years ago.in the spring of 2005 the company rolled taxes, and insurance into an escrow account. When the were finished my escrow account totalled $7000. The only problem was I had paid my school taxes, property taxes, and had current insurance on my home. I informed AMC that these bills were paid. This started a thring circus of BS designed to forclose on my home. I faxed over several copies of tax info, proof of insurance and bank statements. AMC said they had all the info the needed, then they would say they never got anything. Certified letters everything. This went on for months.

Meanwhile my mortgage went from $782 to $1400 a month. Needless to Not In My Budget. AMC will hold all payments until they total $1400. I was already behind 2 months before I knew I was behind at all. They had been sending my statements to my brothers home instead of mine. Finally AMC stated they had all the proof they needed. Then a month went by and no change in payment. I called AMC and asked why my escrow was not adjusted. They stated that I had to formally request that my escrow needed to be change.By October they foreclosed on my home. I found out from other victims of predetory lenders that this is pretty common. It should be illegal. $1599 and three lawyers later I was kicked out of my home, had to move in with relatives. I was convinced by one lawyer to file banckruptsey and give back the home. This was supposed to delay the process until we could sue. I even had trouble getting an apartment.

Watch out for predetory lenders like Amerquest Mortgage Company

Company: Ameriquest
Country: USA
State: California
City: Rancho Cordova
Phone: 8666039225
Site: amcmortgageservices.com

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