I was offered a loan when no one else would do it. I owed the IRS 26,000 and was going to pay off my first mortgage. Yes the rate was high and at closing the cost were high, but with my income I could afford it and it would get the IRS off my back. We closed on the loan and I was told that it would fund in 7 days and we could have our cash out check in 10 to 14 days. On the 13th day I sent the IRS a check for 20,000. I had made arrangements with them and told them I would do so. I called the loan officer on the 14th day to find out where my check was. I was then told that there was a problem with the appraisal.
I ask how can you close a loan with out it being underwritten (IT IS BEING DONE!!!) This loan will probably never fund and according to state law there is no time limit for it to fund. I wish I could have found the rip off site before I got screwed. Now I have the IRS with a hot check and lots of other things promised like vacation and stuff for the kids and wife. How can people do this to other people. How many people have killed thereselves over ameriquest loans. I might endup divorced over this crap. They also know that most people can't afford to sue them. Run Run Run Run.
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