Complaint Review: Ameriquest Mortgage Company - Orange California

What this company did IS against the law and they should be held accountable for it! We as home owners do NOT deserve to be scamed by these rotten companies. I too have been scamed and my story is here in Ripe-off-report under Ameriquest Duluth, MN help is on the way on how to stop them, thanks in part to Rip-off-report web site!

What this company did IS against the law and they should be held accountable for it! We as home owners do NOT deserve to be scamed by these rotten companies. I too have been scamed and my story is here in Ripe-off-report under Ameriquest Duluth, MN help is on the way on how to stop them, thanks in part to Rip-off-report web site!

What this company did IS against the law and they should be held accountable for it! We as home owners do NOT deserve to be scamed by these rotten companies. I too have been scamed and my story is here in Ripe-off-report under Ameriquest Duluth, MN help is on the way on how to stop them, thanks in part to Rip-off-report web site!

What this company did IS against the law and they should be held accountable for it! We as home owners do NOT deserve to be scamed by these rotten companies. I too have been scamed and my story is here in Ripe-off-report under Ameriquest Duluth, MN help is on the way on how to stop them, thanks in part to Rip-off-report web site!

A previous rebuttal noted that nearly all mortgages get sold. My experience with my FIRST time around (before Ameriquest) got involved weas that both my primary and secondary mortgages were sold before the second payment was due. Apparently that's how mortgage companies make a good deal of their money: after funding the loan, they sell it for a lump sum more than the amount of the loan but less than the total of all payments. To read the ever-increasing list of complaints against Ameriquest, it seems to appear that they don't follow this practice. The image I have (correctly or otherwise) is of a company determined to hang onto customers at all costs. Ultimately, I've dealt with CitiFi and found them to be a hundred times more accceptable than Ameriquest. I consider you to be fortunate. Best of luck to you.

YOU, the borrower need to due some due diligence. I am NOT defending any company by my following statements. An appraisal that is $100,000 overstated, well, honestly I find that to be a bit of an exaggeration. While it is certainly possible, the true value would have to be $500K-$600K to get that one to fly past the underwriters. That is just too much even for a shady company to make work. I took a look at the comps in Saint Michael and homes for $500K are few and VERY far between. Your premise just doesn't fly. You, as a borrower must have some concept of what the comparable values might be. You have a duty to have even a basic idea of what your home is worth. If you accepted a deal in which you saw that your value was WAY out of whack, then you were wrong to let it proceed. There are no doubt some very shady lenders that prey upon people out there. BUT, as I tell my clients, if a deal looks too good to be true, it almost always is. If 2-3 lenders tell you they can't do the deal, then what makes you think that the 4th guy can? WE ALL, sell our loans to the secondary market, and it is their guidelines that we must follow is constructing a loan program. As for your follow up question, almost every direct lender, and 100% of the mortgage brokers loans are sold to the secondary market. That is a normal business practice. It doesn't mean that the loan was a "bad" loan or somehow "shady". They are all investment grade paper of some kind. Protect yourself. If you made it to this website, then you can cetainly make it to the vast amount of websites that provide very detailed information on how to shop for a mortgage, how to spot the shady deals, and how to make judgements on a good or a bad deal. Basically...Don't let yourself get caught up in a deal that you KNOW is stretching the boundaries of reason. YOU are your own best protection if you want to be.

I also forgot to mention that Ameriquest Mortgage Company sold my mortgage to a company called Citi Financial. After all that has happend, I question the reasoning behind this.

I also forgot to mention that Ameriquest Mortgage Company sold my mortgage to a company called Citi Financial. After all that has happend, I question the reasoning behind this.

I also forgot to mention that Ameriquest Mortgage Company sold my mortgage to a company called Citi Financial. After all that has happend, I question the reasoning behind this.