We feel that Ameriquest is the worst company in the business of mortgages. This company is not at all afraid to turn to any means of producing loans. They will lie, cheat, and steal if they have to.
My husband and myself took out our very first mortgage with these people and we were promised the world. They had us great interest rates and cheap closing cost. Being our very first mortgage ever we thought this company was trully on our side till we got our final paperwork, one month after closing.
It started with our loan officer sat us down and explained the process of a mortgage and how things worked. Our very first question to her was "Is there an early payoff fee" and she said that they do NOT charge early payoff fees for the first two years. If we would like we could pay this loan off in a month and not be penalized. So we went forward with the loan.
We signed our paperwork on 3-13-02 and did not hear anything from the mortgage company until 4-1-02. We finally got our check to pay off all of our other debts. When we opened our check we were short about 4000.00. When we were finally able to get ahold of our loan officer she said we were responsible for the sellers back taxes, late fees, and sellers fees and insurance fees. This put us in a position because we were already past our 7 day cancellation period. So we were bound to the contract.
We decided to refinace and when our new mortgage company requested payoff we found that our 86,700.00 loan went to 100,800.00 after making payments for 9 months of over 1000.00. Ameriquest still has not been able to tell us why. Could someone please explain to me when we never paid a penny on our principal and early payoff was 14,100.00.
Upon investigation of the company we found 6 different huds were sent to the title company and the money was dispursed from an unsigned HUD. This in itself is illegal. We decided to file with the better business bureau to try to get somewhere. They advised us to get a lawyer.
We sued the seller for the back taxes in small claims court and was awarded judgement. The judge who handled our case advised us to get a lawyer because this was the worst fraudulent case in mortgages he had seen in 20 years.
To this day we are still fighting this case hopefully shortly we will have a good news report to all of you who have been taken victim by this company. There may be something we as consumers can do to companies who think they own the world and can do anything.
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