- Report: #201461
Complaint Review: Ameriquest - Rancho Cordova California
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Ameriquest
amcmortgageservices.com/ Rancho Cordova, California, U.S.A.
Phone:
866-603-9225
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Ameriquest ripoff Predatory Lending Rancho Cordova California
My mortgage was sold to Amerquest Mortagage company about two years ago. In the spring of 2005 the company rolled taxes, and insurance into an escrow account. When the were finished my escrow account totalled $7000. The only problem was I had paid my school taxes, property taxes, and had current insurance on my home. I informed AMC that these bills were paid. This started a thring circus of BS designed to forclose on my home. I faxed over several copies of tax info, proof of insurance and bank statements. AMC said they had all the info the needed, then they would say they never got anything. Certified letters everything. This went on for months.
Meanwhile my mortgage went from $782 to $1400 a month. Needless to Not In My Budget. AMC will hold all payments until they total $1400. I was already behind 2 months before I knew I was behind at all. They had been sending my statements to my brothers home instead of mine. Finally AMC stated they had all the proof they needed. Then a month went by and no change in payment. I called AMC and asked why my escrow was not adjusted. They stated that I had to formally request that my escrow needed to be change. By October 2005 they foreclosed on my home. I found out from other victims of predetory lenders that this is pretty common. It should be illegal. $1599 and three lawyers later I was kicked out of my home, had to move in with relatives. I was convinced by one lawyer to file banckruptsey and give back the home. This was supposed to delay the process until we could sue. I even had trouble getting an apartment.
Watch out for predetory lenders like Amerquest Mortgage Company
David
Webster, Texas
U.S.A.
Meanwhile my mortgage went from $782 to $1400 a month. Needless to Not In My Budget. AMC will hold all payments until they total $1400. I was already behind 2 months before I knew I was behind at all. They had been sending my statements to my brothers home instead of mine. Finally AMC stated they had all the proof they needed. Then a month went by and no change in payment. I called AMC and asked why my escrow was not adjusted. They stated that I had to formally request that my escrow needed to be change. By October 2005 they foreclosed on my home. I found out from other victims of predetory lenders that this is pretty common. It should be illegal. $1599 and three lawyers later I was kicked out of my home, had to move in with relatives. I was convinced by one lawyer to file banckruptsey and give back the home. This was supposed to delay the process until we could sue. I even had trouble getting an apartment.
Watch out for predetory lenders like Amerquest Mortgage Company
David
Webster, Texas
U.S.A.
2 Updates & Rebuttals
Bill & Ted
Orange,California,
U.S.A.
JUDGE ORDERS WARNINGS FOR AMERIQUEST FORECLOSURES
#2Consumer Comment
Tue, July 18, 2006
Ameriquest complaints JUDGE ORDERS WARNINGS FOR AMERIQUEST FORECLOSURES BREAKING NEWS - On May 30, 2006, a federal judge in Chicago issued a preliminary injunction requiring Ameriquest to give special notice to borrowers facing foreclosure on their homes. U.S. District Judge Marvin Aspen ordered Ameriquest to inform borrowers 60 days before a scheduled foreclosure sale that they might still have a right to cancel their original loan agreement. The order stems from allegations from more than 150 Ameriquest borrowers who told the court they weren't properly informed about their cancellation rights at the time of closing. In granting the borrowers' motion, the judge cited "the hardship that would be suffered by class members who may lose their homes and rescission rights." Tampa attorney Jill Bowman, who is representing Ameriquest borrowers nationwide, applauded the judge's ruling, and said that many more Ameriquest borrowers could be affected by the ruling than those who were identified to the court. ?Ameriquest needs to do right by all its customers,? Bowman said. ?The judge agreed with us that borrowers need to know about their recission rights.? The judge also ordered Ameriquest to file follow-up information on the situation by June 7, 2006. If Ameriquest is foreclosing on your house now, contact us by filling out the form below. Read the judge's order by clicking here. Jacked-up interest rates. Improper late fees. Inflated property appraisals. Hidden extra costs. These are a few of the consumer complaints we are investigating against Ameriquest Mortgage Company. If you are a customer or former employee of Ameriquest with information relating to these complaints, contact us for a confidential, no-cost consultation by filling out the form below. Here are some of the issues we are investigating: Did you show up at closing, only to find the interest rate you'd been promised had increased? Maybe you needed the cash out, so you signed the papers. But if you can't afford the inflated payment, you're liable to default almost immediately. Foreclosure or even bankruptcy can follow. Have you been subjected to unlawful late fees, or other unjustified fees, or to harassing collection calls and letters during the grace period on a monthly payment? Inflated property appraisals can cause you to borrow more than your house is worth. You'll find yourself "upside-down," owing more on your house than you can sell it for. Warning signs of a fraudulent appraisal include use of comparable sales or "comps" from other counties or other relatively distant areas; changing the age of a house; or using unlicensed appraisers. Did anyone mention anything about increasing your salary, downplaying your debts, or doing other things to increase your credit score, and increase the amount of money you can borrow? Did you find out too late that your new house payment did not include taxes or insurance, and that you'd be responsible for large separate bills for taxes and insurance in addition to your monthly mortgage payment? The law firm of James, Hoyer, Newcomer & Smiljanich PA has extensive experience representing consumers in class-action and individual cases of fraud. Our recent participation in class-action litigation against Fairbanks Capital helped cement our reputation for uncovering mortgage-related scams. I hope this information helps
Kay
St. Louis,Missouri,
U.S.A.
David
#3Consumer Comment
Tue, July 18, 2006
I'am so sorry that happen to you, so many of us on this site are in the same situations. I would still fight them, keep trying to find a lawyer, there is a web site predatory lending practices, it has some good info, if they illegally took your home, fight, also go to google and search ameriquest lawsuites, there is so much info out there, There is help out there, you may not get your home back, make them pay for a new home. Good Luck and God Bless
