In November I was contacted by Ameriquest to refinance my mortgage. I told them I was not interested! Two weeks later they called back again with a different offer that sounded good. I thought that the government had a handle on the illegal operation of this type since all the bad stuff back in the 70's. I decided to go throught with the loan they offered!
I had a friend of mine that is a parrell legal look at it and he told me I got took!!! So I went to refinance with a different lender and all of a sudden I now will owe ameriquest even more money!!! Because of a little line that says PREPAYMENT PENALITY!!!, equal to 6 months mortgage payments. I went nuts to say the least.
I was then contacted by a person named Paul that says if I stay with ameriquest he can get me a better deal. He then called me back a few days later to inform me what he could do for me. It was like giving candy to a kid, he made it sound to good. Well stupid me went along with his offer. Lower interest rate no prepayment penality no arm adjustment for 3 years.
All lies, the first time I payed $6661.21 in closing cost. This time it was $9999.43. And still I found out that the prepayment penality was there again. God i feel stupid.
I then fell behind on my payment because the interest rate change came in and went from oops, must back up! I was told my interest rate would be 7.5 apr but actually started out at 8.3.
My first loan was at 10.3 apr. Back to my story, my interest rate went from 8.3 to 11.1, it was based on what is called the libor index. That took my payment to 1257.40. And then before the next six months were up I got a notice my payment will change to 1694.10. But i fell behind,
I have lived in my house for 22 years and now I might loose it because of these crooks!!! I worked out a forebearance agreement with them and made every payment on time, but they still reported my credit as bad! No other lender would touch it, I have tried to refinance but no one will help.
My interest rate change in july and will change again in december. I got to the point in April I just wasnt going to make anymore payments to make that crook Rolland Arnall even richer. I gave them 17,000.00 in interest in I just am not going to do it again!
I cant get an attorney to help because they cant get rich off it, and I do not have anything left. Now they have filed foreclosure and are selling my house on November 6. I have 2 children and a wife. My wife has almost gone off the deep end because of this crap!
I cant beleive that our government wont stop this, and now appoint Arnall to U.S. Ambassador to the Netherlands, what a crock! Its time we fight back.
The settlement of the attorney generals offices, was a crock to. Arnall told them what he will give instead of prosecuting him. If it was one of us we would be in JAIL. Is there any help out there.
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