TRACY
NORTH BRANC,#2Consumer Comment
Wed, June 09, 2004
Laura- If you still have the chance to back out, do it now! They should not be giving your a mortgage for a certain amount without knowing the appraisal amount. This is a terrible mortgage company to begin with. If you still have that chance to back out, please do it, or join the rest of us who are stuck in Ameriquest hell.
Liz
Romeoville,#3UPDATE EX-employee responds
Wed, June 09, 2004
I used to work for Ameriquest. The reason why the loan officer had you sign your loan without having the appraisal completed is because May 24th was their last day to sign loans for that month. Either the loan officer needed one more loan to hit the next comission tier or for a signing bonus or he was being pressured by his manager. The last three days of the month there is pressure from the regional manager on down to find one more new deal for the month and get it signed regardless of what you may be waiting on. You still have the right to cancel your loan since ameriquest is has not funded your loan. Until they release the wire to the title company, you still can cancle your loan. Sign your one week right to cancle notice and fax it to the number at the bottom of that page. I would also fax it to the branch as well. Make sure you keep your confirmation. There is other options out there for people in your situation. I hope this is of some help to you. Best of luck.