Marge
Holland,#2Consumer Comment
Sun, February 05, 2006
i can totally relate. in desperate times we take desperate measures. i also knew that they were charging a lot of fees. i needed a very quick fix. you can read my story. my husband had passed away at a young age. i thought i was using my head but obviously i was not. i sympathize with you. ameriquest used their power to pray on the needy and we fell for it. shame on them and shame on us. i bet we never make a mistake like that again. in the mean time but can they make your credit look awful. i have worked for the same co. for 30 years. paid lots of bills and now i look like garbage. i hope you get things straightened out. we have to remember a house can be replaced. ameriquest will pay for what they have done but ubfortunately it won't be near enough and it won't help many who have lost all dignity and there home
Sherrie
Spokane,#3REBUTTAL Individual responds
Sat, January 28, 2006
Craig, from MA; thank you for taking the time to respond. You gave good advice and I hope others follow it. Again, I know now what a foolish thing it was. My job is so demanding, I have little time to handle big items like this--the pressure from time and the fact that I really needed some quick cash... It has been hard to save since the layoff, hard to catch up. We had a LOT of savings, but when a layoff goes upwards of a year and a half, it will eat up everything you have, then the credit cards. Gees, got rid of those and won't ever go back there. I needed a way to catch things up and to create an emergency fund. After the many lack of responses (from my inquiries to internet co.'s) and a local rejection, I just assumed my choices were extremely limited. Ameriquest was the only company who responded to my email. I had gotten several solicitations from them over the years, they nationally advertise. I thought it was a safe bet. (this is 'why' you won't find me in Vegas any time soon!) Lack of time and money is NO excuse for letting a huge company take advantage. I am probably one of many that assume a huge company is less likely to rip you off than a small firm. There are so many people working for Ameriquest, so many 'watch dogs', I am still amazed that this happened at all and even more amazed that it happens to so many people. I am still bugging my LO for the refund he promised. So far, his excuse #1 was the fact that he has been out of the office due to dental work. I asked for the check to be Fed Ex'd, excuse #2 was 'it has to come from corporate so they can't do that'. Hmmmmm.... the original settlement check came from corp and it was Fed Ex'd. I am just so mad at myself. I knew about the cancellation policies and didn't exercise my right, again. STUPID. I just didn't want to go thru all of the signing and stuff again and the guilt--making people 'do over'. My job was in full over-time mode and to try to schedule the notars again... Lazy and hopeful on my part. My LO promised he would make it right and the interest I would save by re-writing everything wouldn't be enuf for the hassle. Yeh, 'whose' hassle are we talking about? I just hope we have saved someone else from the same fate. As soon as I can get out of this I will. You were so right about the embarassment, I didn't want to talk to friends or neighbors (I actually have a neighbor who is a mortgage broker!!), because of my credit and financial situation. I don't want my friends, neighbors or coworkers knowing my pathetic situation. The one friend I have who had difficulties too and had actually filed bankruptcy, I talked with her, she gave me the name of firm that I was turned down by... so, Knowing that she had refinanced with a bankruptcy and I couldn't,... well, it just reinforced that I had limited resources to go thru. I felt cornered. Thanks again for your input, thank you for being kind about it. I am hard enuf on myself without all of America calling me an idiot too! :)
Craig
Quincy,#4Consumer Suggestion
Fri, January 27, 2006
As I do feel bad for your circumstances, I cannot express to you enough your really bad decision. I was in mortgages before, and I know that about 90% of people think that they can't cancel a loan once they sign. You have 3 days legally AFTER YOU SIGN to cancell. Ameriquest gives you 7. I dont want to throw this in your face, I just want to make it known that once you sign its ok to cancel, its your lawful right. Also, just because notarys came to your house doesn't mean you have to sign their papers. If a credit card company came to your door would you sign theirs? no. People seem to think that mortgages are these giant moster loans that are impossible to qualify for and full of BS. Truth is, there ARE people who do their job ethically. My best advice is to ask your friends, neighbors, etc who they did business with. Also, some people find it embarrassing to let people know they are refinancing. People refi on average every 2-3 years. So don't feel embarrassed. If you have problems with your loan, questions, then have them answered either at the closing table, or in the day after. If you cant get ahold of your broker or loan officer, than threaten to recind, I guarentee they'll call you back. Also, when you are applying, try to do so in the beginning of the month. most mortgage companies pay their employees monthly and on a sliding scale, so they want to close that loan before the end of the month so they get paid more on it and faster, they also get pressured from management to do so so their numbers are higher. If you apply early in the month, then there is less pressure and you won't feel rushed. If someone is going too fast or slow, TELL THEM, speak up. Mortgage brokering is a SERVICE. They are SERVICING you and your needs. If you are unpleased at a restaurant you say so don't you? Same here. To you, I am sorry, I know their game well. But you should have realized what you are getting into. Best of luck Also, check out the boston globe article on the Attorney General running for Governor who asked the people of MA not to do business with Ameriquest