I have had trouble with Ameriquest Mortgage Company in Santa Ana, CA since day one. Our monthly payments were $238 due on the 15th of each month. At first we had automatic withdrawal from our checking account until they began taking the money out of our account on the 14th which caused an overdraft each time. I contacted them numerous times and told them our money could not come out until the 15th when my paycheck went into the bank. They assured me it wouldn't happen again. Howver it continued for over a year.
I cancelled the AWD and started mailing in the payments on the 15th and then they wouldn't post it until the end of the month and hit me for late charges. It went downhill from there 2 years later when my ARM changed. The interest fees went up to 10% and they raised my payments to over $600 per month. We fought with them each and every month regarding this amount (when I could speak to a real person) and on several occassions they returned my money stating it was not the correct amount.
We finally ended up in a forebearance plan which was of no use to us because we still had to come up with over $600 per month which most of it went to interest.
In October Ameriquest sold our account to another company but didn't inform us. We continued sending the money to them which they didn't bother to forward to the new company (which I believe is a subsidiary).
In February we received a phone call from the new company asking us why we were 3 months behind. It took over a month for Ameriquest to get the money to this company and it now shows on our credit rating that we had late payments with this new company and they said there was nothing they could do about it. The credit reporting agencies said they could not remove it without notice from either Ameriquest or Wilshire (the new company). This will show until February.
So much more went on with Ameriquest that would take me a good 10 pages to cover, so I will stop here before I lose control.
In August we received a class action lawsuit form against Ameriquest. We signed and sent it in but haven't heard back from the company processing the suit. We don't know who it was that did this paperwork and I scanned and saved it all in my computer thinking that was the safest place where it wouldn't get lost. My computer is now kaput and I can't retrieve this information. If anyone knows the name of this company, could they please get the information to us through usacomplaints.com? I will check for a reply every day or so. Thank you for allowing me to vent.
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