Ameriquest
Lies, lies and finally takes your home Ripoff

We have been fighting with Ameriquest for over a year now. Through this time they have lied to us and denied all liability toward their regulatory violations. Back in 2004 we refinanced our home with these crooks. I owed $60,000.00 on the home at that time. They came in and said our home was worth $113,000.00 and gave us a loan for $90,000.00. We used the extra 18,000.00 we got back to do repairs and much needed home improvement (The Ameriquest Rep told us the house would be worth even more after these updates/repairs). Last year we went to sell our house and found out through a reputable Realtor that the house would only sell for $70,000.00 to possibly $73,000.00. The actual re-appraisal Ameriquest did 2 months ago came in at less than $75,000.00 (Ameriquest won't tell us the actual number).

Ameriquest has lied about many things in regards to this mortgage. Not only the fair market value of the home, but also through the short-sale process we are going through. They gave me the option to not make payments on the house while they were investigating the claims I was making (Through the Mich. Attorneys General Offc.) and said during this process they would cease all collections and reporting activity. Yesterday I received their (Ameriquest) reply to some of my complaints. Their Legal Analyst stated again that all collection and reporting activity had ceased since July of last year. Well, today I received a notice from Ameriquests Attorney that they are suing me for all those payments. They also have it reported on my credit report.

In a nutshell, here is the score:
1. Ameriquest over appraised our home by over $35,000.00

2. They robbed me of ALL our equity.

3. They lied to us in regards to refinancing after the 2-year variable rate, for a better fixed rate (they denied us that opportunity). Or, we were going to sell the house before the variable rate increased. This we could not do, due to the over-inflated balance still owed on the house.

4. When we fell 30 days late on our mortgage last year, they would hold all our payments made until full restitution was made. This then made it look as if we were 90 days or longer late - destroying my credit. When I came up with and paid the amount their HRG Rep said I needed to make the account current, they came back and said it was still behind.

5. When the Rep from the "Office of the Presidents" told me I had the option to hold all payments until after the investigation was over or they rewrote the mortgage, they denied making this statement as well.

Liars, cheats and crooks. How does the Government allow this to continue to happen to consumers, particularly after they lost their class action suit and had to pay over 350 million in damages! And they are still out there doing it!

Any suggestions for a good, affordable attorney would be helpful.

Company: Ameriquest
Country: USA
State: California
City: Orange
Address: 505 City Parkway West Suite 100
Phone: 8004305262

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