Complaint Review: Ameriquest Mortgage - AMC Mortgage - Rancho Cordova California

I leased my home for 1 yr. The lady that owned the home agreed to sell it to me on a 3 yr balloon note. With the stipulation that I would try and find a company to finance my loan as soon as I re-built my credit due to my ex-husband maxing out my credit cards.

I looked on the internet and contacted Ameriquest Mortgage Co. in Tulsa, OK. approx one and one half years later. The man I talked to (Brandon) is no longer with Ameriquest Co. in Tulsa.

Brandon looked at my credit report, told me the figures, and asked me how soon I wanted to close? I told him however long it would take.

Brandon said would today be too soon? I was shocked and said that was fine. I owed approx 35,000.00 on my home. Ameriquest re-financed my home along with paying off my final Credit Card for approx. $11,000.00, plus money out so I could do some necessary repairs. It totalled out to a loan of $85,040.00.

I was told that I had to live in my home for 3 years before I could sell it or I would be penalized. It was my understanding, as I did ask this question, would the percentage be pro-rated if I sold or re-financed my home within the 3 years? The answer was yes.

I am looking at a tax statement from Ameriquest Mortgage Company for 2003 stating the beginning balance was 85,040.00. It shows that the payments applied was $115.68, with a remaining balance of $84,934.32. Interest paid was $1,144.92 on my 2003 tax statement.

On my 2004 tax statement it states that I paid $1,124.00 to be applied to the Principal of my loan. The interest I paid for 2004 was $6,157.44, leaving a balance of $83,800.00. I cannot tell how much was taken out of the amount I paid that was applied towards my house payment, as I cannot find that statement at this time. I printed the above information off of their site, which I no longer have access to, in 2004.

I continued making payments to Ameriquest Mortgage Co. through May, 2005 for $621.04 per month. I do remember that before I re-financed my home my home balance was approx. $83,100.00.

As I had to re-finance my home within a year and a half. I contacted Ameriquest on the internet and as I had built my credit up even more, and had been paying extra money each month to be applied to the principal, I was directed to Ameriquest Mortgage aka AMC Mortgage Re-finance Department.

I talked to Freddy Arias Moreno in California regarding re-financing my home in April or May of 2005. He said as I was re-financing my home that I had to deal with him. During this time he said he would try and find me the best interest rate. I told him that I needed at least $10,000.00 cash out.

I was contacted several times from Mr. Moreno stating each time he had a better deal for me and I would be getting more money regarding the cash out payment.

Bottom line, was that Mr. Freddy Arias Moreno sent a notorary along with my new mortgage papers to my home on 3 different dates as they continually made mistakes on the paper work.

As it turned out, Mr. Moreno put on the last set of papers that I owed Ameriquest Mortgage Co. 87,000.00 instead of 83,100.00. Plus he re-financed my home for $103,000.00, and it shows that we closed on May 30, 2005, not true, as we closed on June 31, 2005. I didn't receive my money until approx 3 weeks later, and it was only for 9,000.00+.

I immediatelly called him and asked where the balance of my payout was and he told me to fax the papers to him and he would talk to his boss on Monday as it was on a Friday that I contacted him. He said he would investigate the matter and get back with me ASAP. I never heard from him again...

My first payment was made by phone, as Ameriquest aka AMC Mortgage Co. called me and said I only had 2 days in which to pay them their payment as they had sold my loan to GMAC Mortgage Co.

I asked the lady that called me if my loan number would stay the same, and she said yes, plus that GMAC would be sending me a letter showing me where I needed to send my future payments to.

As it was now time to make my next payment, GMAC had still not sent the information to me. I tried to log onto their site with my account number from Ameriquest Morgage Co. It would not let me log on using my old acct number.

I finally received my first statement from GMAC showing that I was already 2 months late, even though it was the first letter I received from them.... I told them I had tried to make a payment and didn't know who to contact.

The lady I talked to agreed to let me make 1 payment and then I had to make 2 payments within the month to catch up. I didn't have the money to catch up due to the fact that I had so many Dr bills, due to an un-known illness, and was unable to make the payments. The last payment I was able to make was in October, 2005.

During this span of time I contacted GMAC, explained the fact that my husband and I had moved to AR for 6 months while I paid for a house sitter to watch my home.

When we moved back to Tulsa, OK in October, 2005, my husband got a job with the Company he had previously worked for. However, he left the Co. as a Quality Control Tech, and had to wait for almost a yr for another QC job to open up.

My husband works for a Concrete Co., and he had to start back out driving a Concrete Truck, which meant if it rained he couldn't work.. Some weeks he would only make 100.00 - 200.00. The result of which put us behind in everything, along with the fact that I was no longer able to work.

GMAC wanted me to send them a letter stating every single bill we had, including utilities, medical, etc, plus a bank statement and a pay stub. They told me that they could do a hardship on me, and put what all I owed on the end of the Loan.

Unfortunatelly I have been so sick that I haven't been able to get all of the information together to send to them. I am currently trying to get all of my information together so I can apply for Social Security.

I was hospitalized at the beginning of this month due to an antibiotic I had taken that made my leg swell up and I had red streaks running up it. The Dr. thought I had a blood clot and immediatelly sent me to the ER, where they admitted me into the Hospital for a multitude of tests. I am allergic to almost every antibiotic, aspirin products, anti-inflammatory products, etc, therefore making it extremelly hard to treat whatever infection I have in my body.

As soon as I was released from the Hospital I came home to find that Ameriquest Mortgage Co. was sueing me and that my home is scheduled to be put up for public Auction at the Sheriff's Dept on Aug, 3, 2006.

I can barely walk across the room let alone start packing.

What really troubles me is how can Ameriquest sue me when GMAC owns my Loan?????? I keep trying to call the lawyers office they are using in OKlahoma City, OK. and have yet to receive a call back from them...

Along with my bad health, I also suffer from ADHD, OCD, and Post Tramatic Stress Disorder, and major depression... Due to an antibiotic a Dr gave me in 1997, I almost died with Anaphlactic Shock a week after a tornado destroyed my neighborhood in Van Buren, AR. I was unable to drive for 1 1/2 yrs, and was totally house bound for over a year, until I moved to Tulsa, OK and my Dr sent me to a shrink that is treating my disorders.

My depression is getting un-bearable and I am at my wits end.

I have never not been able to pay my bills, and have always been one to help everyone else out. I loaned a friend of mine 30,000.00 to help her husband start up a new business and she had the bank drae up a promissory note along with late fees, interest, etc... She made 1 or 2 payments and then filed bankruptcy. I didn't find out until a year later that she included my loan to her in the bankruptcy, as instead of sending the bankruptcy notice to me, she had the courts send my notice to her work address.

I have so much more to say, but will stop now as I am tired, and starting to get confused.

Please, if anyone can help me, I would appreciate it greatly.... I am a very "Proud Woman", and have never asked anyone for help, so this is very hard for me to do.....

Note: I am on the phone trying to get in touch with the person I need to talk to regarding my loan status and to try and find out if GMAC is aware of what is going on,

Linda

Tulsa, Oklahoma
U.S.A.

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