Well we seeked out ameriquest for our first home purchase about 7 months ago. It appraised for 65,000 and we have now decided to sell our home but when a realator come out to list our house he said the best that he could even get out of it was 40,000-45,000 on a good day.
We started doing investgateing on our own and have found out that the property was compared to properties from 10 miles to 25 miles away not even the same acerage.
When i called another appraiser and talked to him about the problem he said that there was properties in my area that it could have been compared to. He said it should have appraised for 35,000 to 40,000 pending on the condition of the home.
Also the appraiser that done the appraisial never took any photos or did any inspection on the home the only thing he looked at was a brisk walk through of the home. I have spoken with ameriquest about the problem they hung up on me and put me on hold and never come back.
I have attempted to call them and even stopped making payments on the mortgage to try and get them to respond but no luck. Also when i got our copy of the loan documents it has 48,000 on one page and then the other page has 51,000 but they will not comment on that either. Our lawyer did asvise us to start a lawsuit because there is fraud involved.
Never get a loan from these scam artists need to be shut down.
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