Complaint Review: AMERIQUEST MORTGAGE

I refinanced my home with Ameriquest in 2001. At the time of the loan I was behind in my property taxes, so I arranged to pay the past due taxes out of the loan proceeds and insisted on setting up an impound account to avoid getting behind on my taxes again.

In June of 2002, I received a statement from Riverside County stating that my taxes were now $11,000 behind and that the check from Ameriquest was NSF. I immediatly contacted Ameriqest and they said that they would look into the matter.

Five months later, no return calls and no change except for more penalties. I contacted loan servicing and again was told that they would look into the matter, however this time I kept calling every few weeks for updates. They gave me excuses after excuses, it wasn't there fault, it was the title company.

This went on for several more months. I was attempting to get a home equity loan during this time and was rejected several times due to delinq. taxes. Chase Bank did make me the loan after Ameriquest paid $11,000 of the now more than $15000 owed, but they took the balance of the past due taxes out of the proceeds to bring the tax account current.

Ameriquest claims that they also paid those taxes and received a refund from the county for the over payment. Now my taxes have been paid twice. I just recived a demand statement from Ameriquest stating that my tax account is $1700 negative and that I now need to pay an additional $171 a month in taxes to my impound account until the account is current.

I have notifed Ameriquest that I will not pay that money and that I am withdrawing from impounds and I will pay my own taxes. They state that until my impound account is current, I can't stop paying into impounds. I have now paid my 2002-2003 taxes twice, money is missing from my impounds and they're holding me hostage. I have paid my impounds every month for 18 months. Where has the money gone and why?

Jeff
TEMECUAL, California
U.S.A.