I had a "near death" experience with Ameriquest a couple of days ago. I was in the market for a refinancing of my mortgage. I had the appraisal done and sent the all the necessary paperwork. Since I have been self employed for less than 2 years they offered me over the phone a higher interest rate than normal but still lower than my actual. They would not discuss closing costs over the phone, only in person. So they set up for me and my wife to come in to their office to sign the loan. Thank goodness my wife could not attend the meeting so I went alone to learn the details.
When I got there the agent was very desappointed because my wife couldn't be there. After sitting me down on a conference table, he started to show me the papers and, for my surprise, my closing costs would have been almost $17,000.00 including $9,200.00 in Discount Points.
I told the loan officer that I was not that desperate for a loan and I had to discuss with my wife (I wanted out of there so bad). Next day I called them again to say I was no longer interested in pursuing the loan. That was when the manager came to the phone and said to me that he could get me a better deal but he needed me to sign the papers that day. Turned out to be that the better deal wasn't such a good deal at all.
I did not have a bad experience with these people because I was not desperate, but just the pressure made me feel unconfortable. If you are desperate, seek other options. I have learned a lot about them not only in this site but thoughtout the web. Be smart, don't give in to their soft talk
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