Complaint Review: Ameriquest

Your note and deed of trust act as a contract. These provisions are often overlooked by the lender as well as the borrower, and may incorporate HUD servicing regulations by reference.

Pay careful attention to the notice provisions. If your property is located in Texas, also look at Chapter 51 of the Texas Property Code, Chapter 392 of the Texas Finance Code, Section 17.45 & 1746 of the Texas Business & Commerce Code (Texas DTPA)and Ogden v. Gilbraltar, 640 S.W.2d 232 (Tex. 1982). Federal laws, such as Section 6 of the Real Estate Settlement Procedures Act (RESPA) may be helpful.

Good Going!

Keep up the Fight!

Tom is a JERKOFF he must not have a girlfriend or he would not be worrying about what we are doing. loll

Ameriquest is going down, it's Ship is Sinking.......

there are many website like this one that can help and have lots of info look for Mortgage Servicing Fraud forums.

The owner of Ameriquest is Roland Arnall and the newest President of Ameriquest is Aseem Mital, send RESPA letters to Them make the responsible for their company ask for answers!
Demand answers! you won't get any but you will have some proof that you have tried.

Good Luck!

From Florida :o) USA

Good Going!

Keep up the Fight!

Tom is a JERKOFF he must not have a girlfriend or he would not be worrying about what we are doing. loll

Ameriquest is going down, it's Ship is Sinking.......

there are many website like this one that can help and have lots of info look for Mortgage Servicing Fraud forums.

The owner of Ameriquest is Roland Arnall and the newest President of Ameriquest is Aseem Mital, send RESPA letters to Them make the responsible for their company ask for answers!
Demand answers! you won't get any but you will have some proof that you have tried.

Good Luck!

From Florida :o) USA

Good Going!

Keep up the Fight!

Tom is a JERKOFF he must not have a girlfriend or he would not be worrying about what we are doing. loll

Ameriquest is going down, it's Ship is Sinking.......

there are many website like this one that can help and have lots of info look for Mortgage Servicing Fraud forums.

The owner of Ameriquest is Roland Arnall and the newest President of Ameriquest is Aseem Mital, send RESPA letters to Them make the responsible for their company ask for answers!
Demand answers! you won't get any but you will have some proof that you have tried.

Good Luck!

From Florida :o) USA

Good Going!

Keep up the Fight!

Tom is a JERKOFF he must not have a girlfriend or he would not be worrying about what we are doing. loll

Ameriquest is going down, it's Ship is Sinking.......

there are many website like this one that can help and have lots of info look for Mortgage Servicing Fraud forums.

The owner of Ameriquest is Roland Arnall and the newest President of Ameriquest is Aseem Mital, send RESPA letters to Them make the responsible for their company ask for answers!
Demand answers! you won't get any but you will have some proof that you have tried.

Good Luck!

From Florida :o) USA

Tom: So you are a state licensed mortgage broker. Big deal. That doesn't mean you are the king of professionalism regarding mortgage loans which I can clearly see you are not.

The comment to Mindy of dropping out of school was uncalled for. Your comment of putting the crack pipe down was also uncalled for. You are a jerk. As far as your "you idiots don't get the scam to overlend"? Innocent people have been taken advantage of by this shitty company through no fault of their own. They believed the stupid a*****e reps that promised them decent percentage rates and didn't think a company of this stature would rip them off by appraising their homes too high.

You, obviously, have not fallen on hard times but I'm sure you will. I know this by the stupid a*s comments you have made. Ameriquest is responsible for all problems of people on this website. They are crooked. They are fraudulent. In fact, I believe you are an employee of this lying, theiving and corrupt company. Otherwise you would not be defending a company who thrives on f**kin' their customers. Since I became a customer, I have become accustomed to bending over. At least they could have the decency of kissing me first.

As far as Ameritheft foreclosing practices? Read on dude......they benefit in the end. They do nothing that does not benefit them. They do everything to screw their customers.

So Tom.....the professional.....maybe you should put the crack pipe down before voicing your ignorant comments. How's that for good advice? By the way, advice is spelled with a C not an S. Go back to school.

Tom: So you are a state licensed mortgage broker. Big deal. That doesn't mean you are the king of professionalism regarding mortgage loans which I can clearly see you are not.

The comment to Mindy of dropping out of school was uncalled for. Your comment of putting the crack pipe down was also uncalled for. You are a jerk. As far as your "you idiots don't get the scam to overlend"? Innocent people have been taken advantage of by this shitty company through no fault of their own. They believed the stupid a*****e reps that promised them decent percentage rates and didn't think a company of this stature would rip them off by appraising their homes too high.

You, obviously, have not fallen on hard times but I'm sure you will. I know this by the stupid a*s comments you have made. Ameriquest is responsible for all problems of people on this website. They are crooked. They are fraudulent. In fact, I believe you are an employee of this lying, theiving and corrupt company. Otherwise you would not be defending a company who thrives on f**kin' their customers. Since I became a customer, I have become accustomed to bending over. At least they could have the decency of kissing me first.

As far as Ameritheft foreclosing practices? Read on dude......they benefit in the end. They do nothing that does not benefit them. They do everything to screw their customers.

So Tom.....the professional.....maybe you should put the crack pipe down before voicing your ignorant comments. How's that for good advice? By the way, advice is spelled with a C not an S. Go back to school.

Tom: So you are a state licensed mortgage broker. Big deal. That doesn't mean you are the king of professionalism regarding mortgage loans which I can clearly see you are not.

The comment to Mindy of dropping out of school was uncalled for. Your comment of putting the crack pipe down was also uncalled for. You are a jerk. As far as your "you idiots don't get the scam to overlend"? Innocent people have been taken advantage of by this shitty company through no fault of their own. They believed the stupid a*****e reps that promised them decent percentage rates and didn't think a company of this stature would rip them off by appraising their homes too high.

You, obviously, have not fallen on hard times but I'm sure you will. I know this by the stupid a*s comments you have made. Ameriquest is responsible for all problems of people on this website. They are crooked. They are fraudulent. In fact, I believe you are an employee of this lying, theiving and corrupt company. Otherwise you would not be defending a company who thrives on f**kin' their customers. Since I became a customer, I have become accustomed to bending over. At least they could have the decency of kissing me first.

As far as Ameritheft foreclosing practices? Read on dude......they benefit in the end. They do nothing that does not benefit them. They do everything to screw their customers.

So Tom.....the professional.....maybe you should put the crack pipe down before voicing your ignorant comments. How's that for good advice? By the way, advice is spelled with a C not an S. Go back to school.

Tom: So you are a state licensed mortgage broker. Big deal. That doesn't mean you are the king of professionalism regarding mortgage loans which I can clearly see you are not.

The comment to Mindy of dropping out of school was uncalled for. Your comment of putting the crack pipe down was also uncalled for. You are a jerk. As far as your "you idiots don't get the scam to overlend"? Innocent people have been taken advantage of by this shitty company through no fault of their own. They believed the stupid a*****e reps that promised them decent percentage rates and didn't think a company of this stature would rip them off by appraising their homes too high.

You, obviously, have not fallen on hard times but I'm sure you will. I know this by the stupid a*s comments you have made. Ameriquest is responsible for all problems of people on this website. They are crooked. They are fraudulent. In fact, I believe you are an employee of this lying, theiving and corrupt company. Otherwise you would not be defending a company who thrives on f**kin' their customers. Since I became a customer, I have become accustomed to bending over. At least they could have the decency of kissing me first.

As far as Ameritheft foreclosing practices? Read on dude......they benefit in the end. They do nothing that does not benefit them. They do everything to screw their customers.

So Tom.....the professional.....maybe you should put the crack pipe down before voicing your ignorant comments. How's that for good advice? By the way, advice is spelled with a C not an S. Go back to school.

If somebody gave me a hundred grand for a dump that wasn't worth half of that, I'd take the money and leave them to deal with the pile of garbage.

Mindy, by your own admission, the house is a dump anyway.

Tom was exactly right. The idiots gave you more than it was worth for two reasons. To lock you in and to generate more interest and fees.

Of course, that plan backfires on them if you walk away from the mess.

Clearly, I don't see any other choice for you here. If you had the money, you'd pay it. Chances are you don't have it. And, you won't have it before they foreclose.

If you send them partial payments, they will foreclose anyway. All you did was waste whatever you handed them.

My advice is bank every dime you have. Pay nothing. Ride out the dump until the very end. Make them throw your sick child out in the street.

By the time that day comes, you should have plenty of money saved up for a new place.

As for credit, there is always a means to buy another home. Owner financing, for example.

Right now, you need to hold on to every dime you have.

As for ameriquest, if they're that stupid to hand away their money like this, stand back and laugh at the idiots.

I got a feeling a lot of these mortgage lenders are going to go out of business anyway when the housing price bubble bursts and millions of people end up walking away from upside-down loans. So, what's one more?

this is tom again , yknow -a state licened mortgage broker?

a professional. Someone who deals with this everyday for a living.

you think im giving you terrible advise. I dont know how early you dropped out of school, but by the thrid grade -i was able to add .

so you are in over your head on a property that isnt worth nearly what you owe. You are behind on the payments.

Geez, sounds like you have SO MUCH to battle for.

Are you crazy?
The thousands of dollars you need just to get out of NOD for what? to be paying on a house worth less than you owe?

its worth LESS THAN ZERO????

and you think im giving you 'bad advise'??

wtf???????

what do you want? 'good advise' ?

ok-

dont let those ameriquest bastards 'jack you around ' cause they 'twisted your rubber arm' and gave you a whole pile of money that your house wasnt worth.

Shame on those bastards to then forclose on you because YOU cant make your payment for whatever reason -legitimate or not-. Dont you know ameriquest is responsible for YOUR PROBLEMS?

geeez -ameriquest will forclose -sell your home for s**t, end up losing a whole pile on the deal.

bet they think they are pretty smart huh?

the truth is out. They lent you a pile of money that your house isnt worth -now are left holding the bag and will lose tens of thousands on the deal. Scam artists. Amerquest wants to lose money.

my real advise is for you to PUT THE CRACK PIPE DOWN.

what you IDIOTS DONT GET is that the scam was to over lend you -so you cant REFINANCE away from ameriquest and you will be stuck overpaying them for years -NOT DEFAULT YOU FOOLS.

please -PUT THE CRACK PIPE DOWN.

hows that for 'good advise'

this is tom again , yknow -a state licened mortgage broker?

a professional. Someone who deals with this everyday for a living.

you think im giving you terrible advise. I dont know how early you dropped out of school, but by the thrid grade -i was able to add .

so you are in over your head on a property that isnt worth nearly what you owe. You are behind on the payments.

Geez, sounds like you have SO MUCH to battle for.

Are you crazy?
The thousands of dollars you need just to get out of NOD for what? to be paying on a house worth less than you owe?

its worth LESS THAN ZERO????

and you think im giving you 'bad advise'??

wtf???????

what do you want? 'good advise' ?

ok-

dont let those ameriquest bastards 'jack you around ' cause they 'twisted your rubber arm' and gave you a whole pile of money that your house wasnt worth.

Shame on those bastards to then forclose on you because YOU cant make your payment for whatever reason -legitimate or not-. Dont you know ameriquest is responsible for YOUR PROBLEMS?

geeez -ameriquest will forclose -sell your home for s**t, end up losing a whole pile on the deal.

bet they think they are pretty smart huh?

the truth is out. They lent you a pile of money that your house isnt worth -now are left holding the bag and will lose tens of thousands on the deal. Scam artists. Amerquest wants to lose money.

my real advise is for you to PUT THE CRACK PIPE DOWN.

what you IDIOTS DONT GET is that the scam was to over lend you -so you cant REFINANCE away from ameriquest and you will be stuck overpaying them for years -NOT DEFAULT YOU FOOLS.

please -PUT THE CRACK PIPE DOWN.

hows that for 'good advise'

this is tom again , yknow -a state licened mortgage broker?

a professional. Someone who deals with this everyday for a living.

you think im giving you terrible advise. I dont know how early you dropped out of school, but by the thrid grade -i was able to add .

so you are in over your head on a property that isnt worth nearly what you owe. You are behind on the payments.

Geez, sounds like you have SO MUCH to battle for.

Are you crazy?
The thousands of dollars you need just to get out of NOD for what? to be paying on a house worth less than you owe?

its worth LESS THAN ZERO????

and you think im giving you 'bad advise'??

wtf???????

what do you want? 'good advise' ?

ok-

dont let those ameriquest bastards 'jack you around ' cause they 'twisted your rubber arm' and gave you a whole pile of money that your house wasnt worth.

Shame on those bastards to then forclose on you because YOU cant make your payment for whatever reason -legitimate or not-. Dont you know ameriquest is responsible for YOUR PROBLEMS?

geeez -ameriquest will forclose -sell your home for s**t, end up losing a whole pile on the deal.

bet they think they are pretty smart huh?

the truth is out. They lent you a pile of money that your house isnt worth -now are left holding the bag and will lose tens of thousands on the deal. Scam artists. Amerquest wants to lose money.

my real advise is for you to PUT THE CRACK PIPE DOWN.

what you IDIOTS DONT GET is that the scam was to over lend you -so you cant REFINANCE away from ameriquest and you will be stuck overpaying them for years -NOT DEFAULT YOU FOOLS.

please -PUT THE CRACK PIPE DOWN.

hows that for 'good advise'

this is tom again , yknow -a state licened mortgage broker?

a professional. Someone who deals with this everyday for a living.

you think im giving you terrible advise. I dont know how early you dropped out of school, but by the thrid grade -i was able to add .

so you are in over your head on a property that isnt worth nearly what you owe. You are behind on the payments.

Geez, sounds like you have SO MUCH to battle for.

Are you crazy?
The thousands of dollars you need just to get out of NOD for what? to be paying on a house worth less than you owe?

its worth LESS THAN ZERO????

and you think im giving you 'bad advise'??

wtf???????

what do you want? 'good advise' ?

ok-

dont let those ameriquest bastards 'jack you around ' cause they 'twisted your rubber arm' and gave you a whole pile of money that your house wasnt worth.

Shame on those bastards to then forclose on you because YOU cant make your payment for whatever reason -legitimate or not-. Dont you know ameriquest is responsible for YOUR PROBLEMS?

geeez -ameriquest will forclose -sell your home for s**t, end up losing a whole pile on the deal.

bet they think they are pretty smart huh?

the truth is out. They lent you a pile of money that your house isnt worth -now are left holding the bag and will lose tens of thousands on the deal. Scam artists. Amerquest wants to lose money.

my real advise is for you to PUT THE CRACK PIPE DOWN.

what you IDIOTS DONT GET is that the scam was to over lend you -so you cant REFINANCE away from ameriquest and you will be stuck overpaying them for years -NOT DEFAULT YOU FOOLS.

please -PUT THE CRACK PIPE DOWN.

hows that for 'good advise'

I read your theories and understand some but you need to understand that honest, hard working people are getting ripped off daily by theiving, fraudulent companies such as Ameriquest.

Yes, bad things happen to people, bad things they have no control over. But, I have dealt with companies who try to work with their customers who have fallen on bad times. After all, where would Ameriquest be with NO customers? And, if Ameriquest will not help the people who are their livelihood, they should not advertise they will.

As far as a Loss Mitigation Dept.....if Ameriquest has one, they are certainly not active. Yes, I think it's fair to "re-qualify". Why not? Bad things happen and most often, through no fault of their own. I had perfect credit before Ameriquest ruined me along with my ex-husband. Did I have control at that time? No I did not. Obviously, you have not had this misfortune or you would not be so harsh to the subject of "financial hardship".

If a borrower's status has changed, making it almost impossible to pay their mortgage payment, maybe the lender should have set up some kind of program to deal with this type of situation since it does happen to "credit conscious" people, like myself, and lenders know this to be true.

OR, maybe lenders should be honest in the first place and not prey on people they feel they can take advantage of.....mainly the elderly and the hard-working individuals that have fallen on hard times and bad luck.

If the borrower is sending partial payments, they are doing everything in their power to try to keep their home and make the lender aware they are experiencing financial difficulty. In Ameriquest's case, they just don't give a d**n. They won't accept partial payments at all.

If the borrower is doing all they can, such as borrow from their 401K, their bank and even their family AND has kept in constant contact with their lender, a program should be in place to aid those in need. Only if a borrower simply fails to pay and fails to notify the lender, should foreclosure be considered.

Ameriquest does violate policies, regulations and laws. They alter monthly payment amounts. They falsify appraisals. They charge expenses and fees they cannot make their customer understand as the reps don't understand themselves. All the reps are trained to do is get those loans no matter what they lie about.

I believe Ameriquest DOES want to foreclose. Read on and see what they have done to some of their customers. Of course, if Ameriquest foreclosed on my home, as they tried to do, do you think I would let them take the home I worked so hard for away with no repercussions? Let them eat some repair "expenses" as they have charged their customers. At least they would know what the expenses were for!

Aggressive lenders are one thing, but Ameriquest can only fall into the category of FRAUDULENT!

I read your theories and understand some but you need to understand that honest, hard working people are getting ripped off daily by theiving, fraudulent companies such as Ameriquest.

Yes, bad things happen to people, bad things they have no control over. But, I have dealt with companies who try to work with their customers who have fallen on bad times. After all, where would Ameriquest be with NO customers? And, if Ameriquest will not help the people who are their livelihood, they should not advertise they will.

As far as a Loss Mitigation Dept.....if Ameriquest has one, they are certainly not active. Yes, I think it's fair to "re-qualify". Why not? Bad things happen and most often, through no fault of their own. I had perfect credit before Ameriquest ruined me along with my ex-husband. Did I have control at that time? No I did not. Obviously, you have not had this misfortune or you would not be so harsh to the subject of "financial hardship".

If a borrower's status has changed, making it almost impossible to pay their mortgage payment, maybe the lender should have set up some kind of program to deal with this type of situation since it does happen to "credit conscious" people, like myself, and lenders know this to be true.

OR, maybe lenders should be honest in the first place and not prey on people they feel they can take advantage of.....mainly the elderly and the hard-working individuals that have fallen on hard times and bad luck.

If the borrower is sending partial payments, they are doing everything in their power to try to keep their home and make the lender aware they are experiencing financial difficulty. In Ameriquest's case, they just don't give a d**n. They won't accept partial payments at all.

If the borrower is doing all they can, such as borrow from their 401K, their bank and even their family AND has kept in constant contact with their lender, a program should be in place to aid those in need. Only if a borrower simply fails to pay and fails to notify the lender, should foreclosure be considered.

Ameriquest does violate policies, regulations and laws. They alter monthly payment amounts. They falsify appraisals. They charge expenses and fees they cannot make their customer understand as the reps don't understand themselves. All the reps are trained to do is get those loans no matter what they lie about.

I believe Ameriquest DOES want to foreclose. Read on and see what they have done to some of their customers. Of course, if Ameriquest foreclosed on my home, as they tried to do, do you think I would let them take the home I worked so hard for away with no repercussions? Let them eat some repair "expenses" as they have charged their customers. At least they would know what the expenses were for!

Aggressive lenders are one thing, but Ameriquest can only fall into the category of FRAUDULENT!

I read your theories and understand some but you need to understand that honest, hard working people are getting ripped off daily by theiving, fraudulent companies such as Ameriquest.

Yes, bad things happen to people, bad things they have no control over. But, I have dealt with companies who try to work with their customers who have fallen on bad times. After all, where would Ameriquest be with NO customers? And, if Ameriquest will not help the people who are their livelihood, they should not advertise they will.

As far as a Loss Mitigation Dept.....if Ameriquest has one, they are certainly not active. Yes, I think it's fair to "re-qualify". Why not? Bad things happen and most often, through no fault of their own. I had perfect credit before Ameriquest ruined me along with my ex-husband. Did I have control at that time? No I did not. Obviously, you have not had this misfortune or you would not be so harsh to the subject of "financial hardship".

If a borrower's status has changed, making it almost impossible to pay their mortgage payment, maybe the lender should have set up some kind of program to deal with this type of situation since it does happen to "credit conscious" people, like myself, and lenders know this to be true.

OR, maybe lenders should be honest in the first place and not prey on people they feel they can take advantage of.....mainly the elderly and the hard-working individuals that have fallen on hard times and bad luck.

If the borrower is sending partial payments, they are doing everything in their power to try to keep their home and make the lender aware they are experiencing financial difficulty. In Ameriquest's case, they just don't give a d**n. They won't accept partial payments at all.

If the borrower is doing all they can, such as borrow from their 401K, their bank and even their family AND has kept in constant contact with their lender, a program should be in place to aid those in need. Only if a borrower simply fails to pay and fails to notify the lender, should foreclosure be considered.

Ameriquest does violate policies, regulations and laws. They alter monthly payment amounts. They falsify appraisals. They charge expenses and fees they cannot make their customer understand as the reps don't understand themselves. All the reps are trained to do is get those loans no matter what they lie about.

I believe Ameriquest DOES want to foreclose. Read on and see what they have done to some of their customers. Of course, if Ameriquest foreclosed on my home, as they tried to do, do you think I would let them take the home I worked so hard for away with no repercussions? Let them eat some repair "expenses" as they have charged their customers. At least they would know what the expenses were for!

Aggressive lenders are one thing, but Ameriquest can only fall into the category of FRAUDULENT!

I read your theories and understand some but you need to understand that honest, hard working people are getting ripped off daily by theiving, fraudulent companies such as Ameriquest.

Yes, bad things happen to people, bad things they have no control over. But, I have dealt with companies who try to work with their customers who have fallen on bad times. After all, where would Ameriquest be with NO customers? And, if Ameriquest will not help the people who are their livelihood, they should not advertise they will.

As far as a Loss Mitigation Dept.....if Ameriquest has one, they are certainly not active. Yes, I think it's fair to "re-qualify". Why not? Bad things happen and most often, through no fault of their own. I had perfect credit before Ameriquest ruined me along with my ex-husband. Did I have control at that time? No I did not. Obviously, you have not had this misfortune or you would not be so harsh to the subject of "financial hardship".

If a borrower's status has changed, making it almost impossible to pay their mortgage payment, maybe the lender should have set up some kind of program to deal with this type of situation since it does happen to "credit conscious" people, like myself, and lenders know this to be true.

OR, maybe lenders should be honest in the first place and not prey on people they feel they can take advantage of.....mainly the elderly and the hard-working individuals that have fallen on hard times and bad luck.

If the borrower is sending partial payments, they are doing everything in their power to try to keep their home and make the lender aware they are experiencing financial difficulty. In Ameriquest's case, they just don't give a d**n. They won't accept partial payments at all.

If the borrower is doing all they can, such as borrow from their 401K, their bank and even their family AND has kept in constant contact with their lender, a program should be in place to aid those in need. Only if a borrower simply fails to pay and fails to notify the lender, should foreclosure be considered.

Ameriquest does violate policies, regulations and laws. They alter monthly payment amounts. They falsify appraisals. They charge expenses and fees they cannot make their customer understand as the reps don't understand themselves. All the reps are trained to do is get those loans no matter what they lie about.

I believe Ameriquest DOES want to foreclose. Read on and see what they have done to some of their customers. Of course, if Ameriquest foreclosed on my home, as they tried to do, do you think I would let them take the home I worked so hard for away with no repercussions? Let them eat some repair "expenses" as they have charged their customers. At least they would know what the expenses were for!

Aggressive lenders are one thing, but Ameriquest can only fall into the category of FRAUDULENT!

Kim & Teresa,

Yes, there are government agencies that will investigate a company's business policies if there is enough strong information that there are violations of laws and regulations. What I think many people who post here fail to realize is that a mortgage company has an obligation first and foremost to its owners, shareholders, employees and suppliers, NOT to the borrowers who are not paying their mortgage according to the contract they signed.

Does that sound harsh? Maybe so, but that is business and life. I agree that sometimes bad things happen to good people and they fall behind in their payments. Sometimes their ability to even pay the mortgage is compromised. Neither of those problems are the mortgage company's.

Every lender has a Loss Mitigation department. This department tries to find ways to help the borrower catch up on their payments. In most cases the borrower must re-qualify their ability to repay the mortgage before a plan can be put in place. Do you think this is fair?

Let me ask you:

If something has radically changed in the borrower's ability to repay, what do you think the lender should do?
How long should the lender wait for a satisfactory payment program to begin?
If the borrower sends partial payments or misses payments, what should the lender do?
If it is readily apparent at some point that the borrower will be unable to adhere to the work-out program, when should the lender call it quits and foreclose?

What obligations does the borrower have to keep up their end of the deal?

I do not work for Ameriquest or any other lender. I am a mortgage broker and have been in this line of work as wholesale lender rep and now as a broker for almost 10 years now. I have an excellent understanding of how the lending world works. While I agree there are lenders who violate policies, regulations, and laws to the detriment of the borrowers, we all must remember one common denominator. ALMOST ALWAYS, the problem began when the borrower missed a payment, tried to work something out, missed another payment, then it s****.> The lenders DO NOT want to foreclose on your home. That is their last resort to stop the bleeding. Any lender with a stockpile of homes in their REO portfolio cuts into their earnings, and does not make the owners and shareholders happy. When a home is foreclosed, frequently the lender takes possession of a home that has been severely damaged by the angry homeowner. I have seen rooms with holes knocked in every wall, toilets and plumbing broken, flooded rooms because the homeowner left the water to run in the bathtub and sinks, light fixtures ripped off the walls and ceilings, etc., etc., etc.
How much do you think it costs to repair and take a loss on the sale of the home?

You know who pays? YOU DO. People who must get sub-prime loans pay a higher rate with more loan costs because they statistically run a higher rate of foreclosure than prime loans.

I am not trying to be mean or sound like a jerk. But please understand, I have closed over 1500 loans in the last 10 years, probably seen the good, bad, and the ugly, of over 10,000 credit reports, helped people qualify for several hundred work-outs.

Bottom line.if the lenders did not vigorously enforce their policies and try to collect the money that is due them, sub-prime borrowers would not have access to the money to buy or refinance their homes.

Which do you think is a bigger problem? No money for borrowers with less than perfect credit, or lenders being aggressive with their collection tactics?

Just what to know how you can work with Ameriquest a company that don't respond to letters from attorneys, numerous phone calls. ( and then last but not least you can't talk to them at all they block you out of the phone lines and internet)I have been trying to work with this company since last Oct. threw and attorney, the MN ATTORNEY GENERAL and the MN DEPT. OF COMMERENCE and have not yet to have and answer. Who else is ther out there that will help if no one in this part of our goverment will. I thought these parts of the goverment were suppose to work for the consumer.TM

I've been watching this post for a few days to see how people would respond. I have to say that the "advice" from David and Tom is terrible and more damaging to the homeowner than it is to Ameriquest.

Firstly, when a borrower "walks" or defaults on a mortgage as suggested by David, and the home is foreclosed on and then sold for an amount less than the face value of the mortgage note(short sale), the homeowner (borrower) will receive a 1099 from the noteholder for income that the borrower received by selling the house short from the amount due. Generally, that will hurt the borrower by incurring a tax liability for the current tax year.

Not only does this incur a tax liablilty, but the damage this causes to your credit will influence your ability to rent for at least a year or 2, but will definitely damage your ability to buy a home for up to 4 years!

To Tom from Ohio, the "broker" I have seen posting here on occasion, this advice about walking is terribly irreponsible! You obviously no nothing about lender guidelines about how much and for how long a foreclosure affects a mortgage, either a refinance or a purchase. You are putting this homeowner in a worse position by giving this advice.

Here is the point I am trying to make. Who cares about Ameriquest or any other lender for that matter. The advice proffered should be to HELP this homeowner, not hurt them just to "get over" on Ameriquest.

If I am reading this post correctly, we are talking about $1,700.00?!?!? Maybe even up to $5,000.000?!?!?!? You have no ability to get that money from any source(s) to save your home? I guarantee you that no lender wants your home. It costs way more to deal with all the legal aspects of foreclosure, lock-outs, sheriff's sale, etc. than it does for a borrower to properly work out a solution.

Lastly, to Mindy. You are going through a very tough time, I understand. The last place you should be looking for advice on how to save your home for your family and your sick son, is on this web site.

Tom and David have no clue, Tom in particular is giving terrible advice under the guise that he is a state licensed mortgage broker. So what? You passed a real estate license examination, maybe a mortgage brokers exam and now you have some knowledge? I have read many of your posts and it is painfully obvious that your inexperience exudes from your advice. An experienced mortgage professional would have NEVER given the advice to default on a mortgage, because they KNOW how damaging it can be to the homeowner.

I've been watching this post for a few days to see how people would respond. I have to say that the "advice" from David and Tom is terrible and more damaging to the homeowner than it is to Ameriquest.

Firstly, when a borrower "walks" or defaults on a mortgage as suggested by David, and the home is foreclosed on and then sold for an amount less than the face value of the mortgage note(short sale), the homeowner (borrower) will receive a 1099 from the noteholder for income that the borrower received by selling the house short from the amount due. Generally, that will hurt the borrower by incurring a tax liability for the current tax year.

Not only does this incur a tax liablilty, but the damage this causes to your credit will influence your ability to rent for at least a year or 2, but will definitely damage your ability to buy a home for up to 4 years!

To Tom from Ohio, the "broker" I have seen posting here on occasion, this advice about walking is terribly irreponsible! You obviously no nothing about lender guidelines about how much and for how long a foreclosure affects a mortgage, either a refinance or a purchase. You are putting this homeowner in a worse position by giving this advice.

Here is the point I am trying to make. Who cares about Ameriquest or any other lender for that matter. The advice proffered should be to HELP this homeowner, not hurt them just to "get over" on Ameriquest.

If I am reading this post correctly, we are talking about $1,700.00?!?!? Maybe even up to $5,000.000?!?!?!? You have no ability to get that money from any source(s) to save your home? I guarantee you that no lender wants your home. It costs way more to deal with all the legal aspects of foreclosure, lock-outs, sheriff's sale, etc. than it does for a borrower to properly work out a solution.

Lastly, to Mindy. You are going through a very tough time, I understand. The last place you should be looking for advice on how to save your home for your family and your sick son, is on this web site.

Tom and David have no clue, Tom in particular is giving terrible advice under the guise that he is a state licensed mortgage broker. So what? You passed a real estate license examination, maybe a mortgage brokers exam and now you have some knowledge? I have read many of your posts and it is painfully obvious that your inexperience exudes from your advice. An experienced mortgage professional would have NEVER given the advice to default on a mortgage, because they KNOW how damaging it can be to the homeowner.

I've been watching this post for a few days to see how people would respond. I have to say that the "advice" from David and Tom is terrible and more damaging to the homeowner than it is to Ameriquest.

Firstly, when a borrower "walks" or defaults on a mortgage as suggested by David, and the home is foreclosed on and then sold for an amount less than the face value of the mortgage note(short sale), the homeowner (borrower) will receive a 1099 from the noteholder for income that the borrower received by selling the house short from the amount due. Generally, that will hurt the borrower by incurring a tax liability for the current tax year.

Not only does this incur a tax liablilty, but the damage this causes to your credit will influence your ability to rent for at least a year or 2, but will definitely damage your ability to buy a home for up to 4 years!

To Tom from Ohio, the "broker" I have seen posting here on occasion, this advice about walking is terribly irreponsible! You obviously no nothing about lender guidelines about how much and for how long a foreclosure affects a mortgage, either a refinance or a purchase. You are putting this homeowner in a worse position by giving this advice.

Here is the point I am trying to make. Who cares about Ameriquest or any other lender for that matter. The advice proffered should be to HELP this homeowner, not hurt them just to "get over" on Ameriquest.

If I am reading this post correctly, we are talking about $1,700.00?!?!? Maybe even up to $5,000.000?!?!?!? You have no ability to get that money from any source(s) to save your home? I guarantee you that no lender wants your home. It costs way more to deal with all the legal aspects of foreclosure, lock-outs, sheriff's sale, etc. than it does for a borrower to properly work out a solution.

Lastly, to Mindy. You are going through a very tough time, I understand. The last place you should be looking for advice on how to save your home for your family and your sick son, is on this web site.

Tom and David have no clue, Tom in particular is giving terrible advice under the guise that he is a state licensed mortgage broker. So what? You passed a real estate license examination, maybe a mortgage brokers exam and now you have some knowledge? I have read many of your posts and it is painfully obvious that your inexperience exudes from your advice. An experienced mortgage professional would have NEVER given the advice to default on a mortgage, because they KNOW how damaging it can be to the homeowner.

I've been watching this post for a few days to see how people would respond. I have to say that the "advice" from David and Tom is terrible and more damaging to the homeowner than it is to Ameriquest.

Firstly, when a borrower "walks" or defaults on a mortgage as suggested by David, and the home is foreclosed on and then sold for an amount less than the face value of the mortgage note(short sale), the homeowner (borrower) will receive a 1099 from the noteholder for income that the borrower received by selling the house short from the amount due. Generally, that will hurt the borrower by incurring a tax liability for the current tax year.

Not only does this incur a tax liablilty, but the damage this causes to your credit will influence your ability to rent for at least a year or 2, but will definitely damage your ability to buy a home for up to 4 years!

To Tom from Ohio, the "broker" I have seen posting here on occasion, this advice about walking is terribly irreponsible! You obviously no nothing about lender guidelines about how much and for how long a foreclosure affects a mortgage, either a refinance or a purchase. You are putting this homeowner in a worse position by giving this advice.

Here is the point I am trying to make. Who cares about Ameriquest or any other lender for that matter. The advice proffered should be to HELP this homeowner, not hurt them just to "get over" on Ameriquest.

If I am reading this post correctly, we are talking about $1,700.00?!?!? Maybe even up to $5,000.000?!?!?!? You have no ability to get that money from any source(s) to save your home? I guarantee you that no lender wants your home. It costs way more to deal with all the legal aspects of foreclosure, lock-outs, sheriff's sale, etc. than it does for a borrower to properly work out a solution.

Lastly, to Mindy. You are going through a very tough time, I understand. The last place you should be looking for advice on how to save your home for your family and your sick son, is on this web site.

Tom and David have no clue, Tom in particular is giving terrible advice under the guise that he is a state licensed mortgage broker. So what? You passed a real estate license examination, maybe a mortgage brokers exam and now you have some knowledge? I have read many of your posts and it is painfully obvious that your inexperience exudes from your advice. An experienced mortgage professional would have NEVER given the advice to default on a mortgage, because they KNOW how damaging it can be to the homeowner.

Tom,

I understand where you're coming from, sort of, but why should people give up their homes they have worked so hard for? Why pay rent and line someone else's pockets?

I was lucky that Ameriquest didn't over appraise my home, but unlucky that they have done everything else like charging high interest and fees they will not explain to me.

If people keep letting Ameriquest get away with taking their homes, they will keep on doing it. I feel we must fight and keep what is rightfully ours.

hi
my name is tom. I am a state licenced mortgage broker in ohio.

I have to agree with the above posted advise about walking away.

If ameriquest refinanced your home for way more than it was worth -then you dont really 'own' your home, only technically on paper .

Ameriquest owns your home -in fact is underneath it cause they gave you more money than it was worth.

So many people refi their house 100% even 115 or 125 % . They somehow still think they own it.

If someone was to give you a loan for your $5000 tv for $8000 - and you simply refused to make a payment on it and they took it away - who would be the winner there?

people -unless you own some equity in your house -you are really over paying rent for it -rather than owning it. In fact -on top of the mortgage u have to cough up hazard insurance and property tax to boot.

go rent.

Mindy,

Don't give in to this deceitful company. I'm also in financial ruin due to them. But, I will not give up and let them just take my home. I worked hard to get it and I refuse to just turn it over to this lying and manipulative company.

I have contacted the Attorney General who is now working with me. Ameriquest (better known as Ameritheft) is hitting the Attorney General hard with false information regarding my account and their policies and regulation bull but each time the Attorney General sends me a copy of Ameriquest's crap, I hit back just as hard.

Write to them and tell them what you've been through. They listen and respond. I don't know if they can actually help me or you, but at least I feel the word is getting out of Ameriquest's fraudulent activities.

I thought, finally, after sending fax after fax of proof of payments, they had corrected my account balance only to receive a statement last week with over $1,800 in expenses and fees. I faxed a letter with questions of what the "expenses and fees" were and, not surprising, I have received no response.

Just contact the Attorney General and governors and senators of your state. We must get their attention and, hopefully, someone will begin investigating the corrupt practices of this company.

Good luck!

Read all the reports on this site of the people that have spent thousands of dollars in forbearance aggrements, filed chapter 13, hired an attorney, complained to every goverment agency and in the end they lost the house anyway. In the process they almost lost their sanity from the stress of it all.

If you refinanced last September and now it's October then you've been with them 13 months. I'm just giving you another point of view.

When you refinanced last year consider that you sold the house for more than it was worth and took the cash out at that time. Ameriquest stuck you with some of their ripoff fees but probably no more than a realtor would have charged.

Now you are in a position where you just rented the house back for 13 months and as you said yourself you can skip out on the last 90 days of payments before you walk away. That would just be a little bonus for you against a company run by crooks.

Now sit back relax, let the real estate super heated market collapse and before you know it you will have people begging you to buy a better house cheap.

My son had surgery last year (september), so we've been with Ameriquest since we found out he needed surgery which was almost two years ago...not three months.

And by NO means did we get squat for free. As I said in the original posting, we have been making payments towards the balance since we told them we would be having problems. A full month prior to actually becoming late with full payments.

Ameriquest is now demanding payment in full and is refusing any other means of payment, and has refused our many requests for mediation.

Which according to our contract with them is a violation of our rights to third party mediation, it is also in our contract with them that they will not move on anything until payments are 90 days delinquent. We are 60 days behind, not 90.

It is also in our contract that they will design a re-payment plan for missed payments, which they have also refused to do.

This is all, of course, ignoring the fact that they are in clear violation of Texas' debt collection laws by calling not only at home more than once a day, but also but making calls to my husband's employer.

I am not willing to lose my home simply because we got stuck with people that aren't worth the paper their contracts are written on.

Unlike many reports on this site about Ameriquest you seem to be in a better position to come out on top of this situation.

You did get some money out of the refi to help with your son's medical bills.

If you are already 2, going into 3, months behind you would be in forclosure with Ameriquest or your old mortage company if you hadn't refinanced.

Don't be like so many people in these reports that keep throwing thousands of dollars at Ameriquest only to be forclosed on anyway.

Walk away with the money you got at the refi plus the 3 free months you lived there. Let Amerquest eat the house that is now not worth what it's mortaged for.

Find a decent house to rent and wait til things get better. Amerquest has already trashed your credit so just let some time go by while you save for a down payment and let your score come back up.

Unlike many reports on this site about Ameriquest you seem to be in a better position to come out on top of this situation.

You did get some money out of the refi to help with your son's medical bills.

If you are already 2, going into 3, months behind you would be in forclosure with Ameriquest or your old mortage company if you hadn't refinanced.

Don't be like so many people in these reports that keep throwing thousands of dollars at Ameriquest only to be forclosed on anyway.

Walk away with the money you got at the refi plus the 3 free months you lived there. Let Amerquest eat the house that is now not worth what it's mortaged for.

Find a decent house to rent and wait til things get better. Amerquest has already trashed your credit so just let some time go by while you save for a down payment and let your score come back up.

Unlike many reports on this site about Ameriquest you seem to be in a better position to come out on top of this situation.

You did get some money out of the refi to help with your son's medical bills.

If you are already 2, going into 3, months behind you would be in forclosure with Ameriquest or your old mortage company if you hadn't refinanced.

Don't be like so many people in these reports that keep throwing thousands of dollars at Ameriquest only to be forclosed on anyway.

Walk away with the money you got at the refi plus the 3 free months you lived there. Let Amerquest eat the house that is now not worth what it's mortaged for.

Find a decent house to rent and wait til things get better. Amerquest has already trashed your credit so just let some time go by while you save for a down payment and let your score come back up.

Unlike many reports on this site about Ameriquest you seem to be in a better position to come out on top of this situation.

You did get some money out of the refi to help with your son's medical bills.

If you are already 2, going into 3, months behind you would be in forclosure with Ameriquest or your old mortage company if you hadn't refinanced.

Don't be like so many people in these reports that keep throwing thousands of dollars at Ameriquest only to be forclosed on anyway.

Walk away with the money you got at the refi plus the 3 free months you lived there. Let Amerquest eat the house that is now not worth what it's mortaged for.

Find a decent house to rent and wait til things get better. Amerquest has already trashed your credit so just let some time go by while you save for a down payment and let your score come back up.