- Report: #132177
Complaint Review: Ameriquest Mortgage Company - Los Angeles California
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Ameriquest Mortgage Company
PO Box 51382 Los Angeles, 90051-5682 California, U.S.A.
Phone:
800-430-5262
Web:
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Ameriquest Mortgage Company ripoff preying on desperate victims lying outright Los Angeles California
Like many other reports, I fell victim to a Predatory Lender. I was in a financial bind during the middle to end of 2003 due to job loss and out of the blue I get something in the mail from "Ameriquest" (wonder how that happened). I read the insert they sent and called and was promised a cure all to my situation. I refinanced my home and was lied to about what my payments would include. I was told that escrow would be set up to take care of my insurance and taxes in the payment. That is not what happened. After the deal was closed, I recieved a notice about insurance and that I needed to take care of getting a policy on my home, or else! I called upset and asked what the problem was, because I thought it was included in my payment, well their answer was just "NO" we thought we told you, etc. etc. Well I specifically asked for it when the person came to my house and even signed a paper stating such. I reviewed all my copies and it magically disappeared. Needless to say I was only making 800.00 a month and going to school also and they set my house payment up to be 694.00 a month.
I couldnt then and cannot now afford this and have compromised friends, and my credit alltogether just to keep my home. I just found out that lending companies are not supposed to approve loans unless they are sure a borrower has the ability to pay, well case and point.
Now I am totally done with this company because I recieved a check for 5000.00 from my home owners insurance company from damage to my home from Hurricane Ivan which was written our to myself and Ameriquest. I called them and asked what the procedures are in this case. They said and I quote "endorse the check, we will sign it and overnight it back to you". Well after 7th day and no check in the mail, I called and they inform me that the check is in an escrow account because they want to monitor repairs on my home and want to divvy out the money as they see fit. I asked if it is common for them to decieve people and they basicall said the person I talked to did not know the policy. I feel sad that companies prey on desperate people and have the opportunity to take away someones livlihood and home. I am willing to do whatever it takes to get my word out and get revenge.
Helene
Fort Walton Beach, Florida
U.S.A.
I couldnt then and cannot now afford this and have compromised friends, and my credit alltogether just to keep my home. I just found out that lending companies are not supposed to approve loans unless they are sure a borrower has the ability to pay, well case and point.
Now I am totally done with this company because I recieved a check for 5000.00 from my home owners insurance company from damage to my home from Hurricane Ivan which was written our to myself and Ameriquest. I called them and asked what the procedures are in this case. They said and I quote "endorse the check, we will sign it and overnight it back to you". Well after 7th day and no check in the mail, I called and they inform me that the check is in an escrow account because they want to monitor repairs on my home and want to divvy out the money as they see fit. I asked if it is common for them to decieve people and they basicall said the person I talked to did not know the policy. I feel sad that companies prey on desperate people and have the opportunity to take away someones livlihood and home. I am willing to do whatever it takes to get my word out and get revenge.
Helene
Fort Walton Beach, Florida
U.S.A.
1 Updates & Rebuttals
Lisa
MISSION VIEJO,California,
U.S.A.
I feel your pain! Ameriquest has changed my status with all three credit agencies from 30 day pay to 60 day pay, which has put a stop to my efforts of getting away from them.
#2Consumer Comment
Thu, March 03, 2005
I am currently dealing with the same problem. I set up a forbearence agreement with the home retention department and when the time came to make the first payment I called with my bank account and routing number in hand, ready to process the payment. The rep in the home retention department told me she couldn't take my payment over the phone (the majority of my past payments were made that way). The rep told me I had to send the money through Western Union. When I told her that I wasn't going to pay any more fees she told me that she wasn't going to talk to me, and hung up on me. I took a few minutes to cool off then picked up the phone and dialed their call center to try to make the payment that way. I asked to speak to a supervisor and one was put on the phone with me. Without explaining my situation I just told him I would like to make a payment. He pulled up my account and asked me what the amount of my payment was going to be. I gave him the amount that was agreed on from the forbearence agreement. He replied with an amount that was way above the agreement. And when I asked for a breakdown of that amount he told me he doesn't have access to that information but says it's probably fees. Since I refuse to pay these mysterious fees that have been added on I asked him to state for the record that he is refusing to accept my payment for the amount of my agreement, and his reply was that he wasn't refusing but he just can't accept anything less than the amount he had. And that is just one of the many problems I've had with Ameriquest. Prior to that incident I received a Notice of Intent to Foreclose. The date when the letter was typed up I was exactly 32 days late on my payment, and that was the first time I had ever been late. Not to mention that when I was initially contacted by the broker he assured me he could lower my payments. I chuckled and asked him what mortgage company would approve a refi for a homeowner who is currently unemployed. I do have to admit, my payments were lowered by about $150 a month. But I didn't realize he stated that I was an Ebay Trader. And I just recently found out that Ameriquest has changed my status with all three credit agencies from 30 day pay to 60 day pay, which has put a stop to my efforts of getting away from them.
