Unfortunately I refinanced an investment property thru Ameriquest Mortgage. Worst mistake I have ever made.
After closing my account I was informed in September that I did not have the proper insurance on the property and if they purchased it my payment would be an additional $150!
I contacted them and advised I would buy my own insurance so my payement would not increase, a written request to not use my escrow was also sent. I also sent the Declaration of policy to them to prove I had purchased this insurance.
Not only did they then pay that policy, they purchased another policy from a different company for a total of $1349 from my escrow, which meant I had a negative balance so my payment went up the $150 anyway. After several calls on a weekly basis it is now January and my information is still incorrect. I have refused to pay the "extra" amount since it was their "mistake" and I should not be liable for it.
The 2 insurance payments have since been refunded to Ameriquest but they refused to correct my escrow balance or my monthly payment amount. Ameriquest will not accept the lower payment and now I am 1 month late and was just sent a foreclosure notice. This entire situation has made me both emotionally and physically ill and I do not know what else to do.
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