Doug
Lf,#2UPDATE EX-employee responds
Thu, May 20, 2004
If you are considering refinancing your Ameriquest Mortgage or have done so within 12 months from the time you originally got your mortgage with Ameriquest, you have been ripped off. There are Predatory Lending Laws as well as High Cost Loan Laws that forbid such a practice. With Ameriquest Mortgage, they will call you indefinitely to refinance their existing loan, not telling you that they will cahrge you 3-5% to pay off the pre payment penalty. THERE IS NO WAY THAT AMERIQUEST MORTGAGE CAN WAIVE THIS PRE PAYMENT PENALTY SINCE THE LOAN WAS SOLD TO A PRIVATE INVESTOR/MORTGAGE COMPANY AND THAT LENDER PAID THEM A FEE TO BUY THE LOAN. THIS IS JUST AN ATTEMPT TO GET YOU TO REFINANCE AGAIN WITHIN TWELVE MONTHS. This is predatory lending. Call your state's Dept of Banking and tell them that you have refinanced with Ameriquest 2X within 12 months. Also, call up Ameriquest if they want you to Refinance and tell them that you were not made aware of the 6% pre payment penalty and that you are insisting that they waive the pre payment or you will contact the Dept of banking in your state. For your information,please reach the following Ameriquest Mortgage Company personnel to lodge a complaint or concern: 1) Roland Arnall...Owner/CEO California HQ 2) Kirk Langs, President, California HQ 3) Mary Jo Shelton, VP Minnesota Office