I've been reading this site and can't believe all the people that have been hurt by this company.
I had lived in my home for 20 years and now I'm in the process of loosing it because of Ameriquest. I had financed with them about 3 years ago after I had lost my job and gotten behind on payments. I knew the interest rates weren't the best, but it was a band-aid for the situation. When I was a little better situated, I looked into re-financing through a different lender. I talked with a woman from Town and Country Lending who told me over and over again I would be rid of Ameriquest. Even at the closing, all of the people there told me they were a direct lender and I wouldn't have to deal with Ameriquest again. I had told them that I wanted to escrow my taxes and insurance to make things easier and they agreed.
Two weeks later I was notified that Town and Country Lending was actually a part of Ameriquest and that I hadn't actually got rid of them. I was pretty much irritated at this point but figured I was stuck. A few months later, I was notified by my county that my property taxes had not been received. I called Ameriquest and asked when they would be mailed out. I was then informed that what they had me sign at the closing was in fact a waiver for the escrow. I hadn't looked that close since my payments were about $120/mth more then they quoted me. (I had assumed the extra was for the escrow account.)
When I told them they would have to stop the automatic payment that month so I could make my tax payment, they said they understood and it wouldn't be a problem. Arrangements were made to make up the missed payment. Pretty soon I had checks and payments bouncing at my bank. They had put the payment through anyway, and then tried again to withdraw the money. I had NSF fees piling up all over the place. I called down there and asked them what was up and they applogized and said they had messed up by not stopping the payment.
I again told them they were going to have to wait now so I could cover the extra fees and get things caught up. They applogized again and said they would make sure the next payment was stopped. They didn't. They also went back and tried to withdraw the money from the month before that. Each time they tried to withdraw the funds, it was sent through a second time. Basically they tried to take 6 payments from my account within a one month period.
I called down there again and was really mad at what they did. They cost me over $1600 in NSF and other fees by the time it was done. They said they would work with me to get it caught up. Right. They wanted such a large amount down and high monthly payments that I couldn't manage it. I had other accounts turned over to collections and even to attorneys because of all this mess. I was trying to pay them off and get caught up on the house payments. When I fell behind on my agreement, I called them and talked to them about this and asked them to work with me since they basically put me in this spot. They denied any wrong doing and told me that I would now have to come up with an additional $3000 plus higher payments for the next 10 months if I wanted to keep the house.
I managed some of the payments, and after many calls to thier office, they finally admitted they messed up, told me I had to prove it and if I couldn't, they were doing me a favor by taking my house. Then she hung up on me.
I have since then realized that they inflated my income, inflated the appraisal of my house and neglected to send me certain copies of the papers I signed at closing. (HUD Dispersement (SP) Form) I have not been able to obtain this from them either.
After years of fighting my ex husband to hang onto the house and working 2 jobs to do it, I finally reached a point in my life with a job promotion where I could manage all my payments and actually breath again. Now, I'm loosing my house because of what they have done. How many other people have they contacted after they stole thier house and offered them a "relocation fund"? Sign off on the property and have all your belongings off the property within 2 weeks and they will give you a small amount of money... If it's longer then 2 weeks, they will give you less. (But they don't want your property)
I've had such a hard time dealing with all this and being turned down for re-fis from other lenders because the L/V ratio is way to high. Noone will touch me now. My credit score is still in the range to obtain the finances, but I can't get any help. The stress of all this has taken such a toll on my health, physical and mental, I don't even know what to do anymore.
Bonnie
Isanti, Minnesota
U.S.A.
0 comments