Complaint Review: Ameriquest Mortgage - Phoenix Arizona

I am not even sure what to write. I don't know if I am more mad at Ameriquest or myself. Every post I have read here I can account to, some even more. First I did not have 7 days to recant my loan, I had 3. I had just went through a divorce, needed to payout my ex, consolidate my 1st and 2nd and was hoping to pay off some CC debit. I should have known better to attempt this on my own but I was so proud that I could do this.

The orginal Account Executive I talked to was gone 3 days after I started the process, over the next 2 weeks I "delt" with 2 other people, everything got ready to my knowledge. I did not hear from anyone for over a week, I paniced, I had not made my current mortgage payment because I thought we were closing the previous week. I finally got ahold of a manager at Ameriquest, it took him 2 days to "find" my paperwork. In him going through it some adjustments needed to be made I knew that I would have higher interest rate then most due to my credit but he said it should still be in the 7's.

Try to keep this shorter, he arranged closing for Saturday morning 10am, friday night about 6ish he called to let me know that things changed, there was a prepayment penalty NEVER mentioned before, 3 year ARM (still not sure what that is) 8.99% interest, Over $8800 in closing fees and a payoff for my 2nd more then orginally told by almost $1500.

Due to these changes there was not enough to pay my ex, nor even 1 CC I paid off nothing out of this loan other then combine my 1st and 2nd, Closing was done at my house by a notary, she could not answer any question, she was always "not sure, contact Ameriquest" I know....I should have stopped right then and there!!!!! But I kept looking at it that the payment of $1191 was only $110 more then what I was paying for both payments before and a fresh start on my own. with in 6 months my payment went up to $1215 because escrow is short.

not going to lie single mom making $13.00 an hour that is a tight a payment, and I have been late, I never intended to ever be later then the month it was due, but they would not work with me, the first one I sent around the 25th, I know it is due the 1st but you do what you can with your mistakes. they sent the payment back with a sticky note stating they would not accept payment because I had not included the late fees.

I am not sure if this is there standard charge but the late fee is $65 my old mortgage was $35 and 9 times out of 10 they waived that for me if I asked. They call my work and speak to who ever answers the phone when looking for a payment, I can go on with many things. I put as much blame on myself for being so naive and stupid but I will not ever ever recommend them to anyone regardless of their situation and the aspect of how good of a loan they may be able to get.

If anyone has any suggestions on what I can do, should do, please let me know. there are many more things I can mention such as how my house appraised for $145 there is no way!! and of course that is about what the loan is for so I am mortgaged to the hilt. I know I can take some blame but I am sure if I set down with someone and really went through the doc's we can find many things.

Thanks for at least letting me vent, and it makes me feel bad that others are having the same experience but honestly a little better that I am not alone, if that makes sense.

Denise

Chandler, Arizona
U.S.A.