- Report: #92255
Complaint Review: Ameriquest - Santa Ana California
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Author Not Confirmed
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Ameriquest
P.O. Box 11000 Santa Ana, 92711 California, U.S.A.
Phone:
800-430-5262
Web:
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Ameriquest rip-off! Santa Ana California
I refinanced with Ameriquest about two years ago and really got taken. I ended up with huge closing costs, tons of inaccuracies in the mortgage, a 3 year pre-payment penalty, adjustable rate mortgage with payments that keep increasing, very high interest rate of 9.65%, huge payment that I can't afford, people never call you back, etc.
After I got the mortgage the guy who "helped" me was fired and they made me re-fax tons of documents etc. I also keep getting offers that they will re-fiance and when I looked into it I was told they wouldn't do it (so why were they sending me letters to re-finance).
I'm stuck and can't even afford basic necessities. I just recently almost lost my house to foreclosure as I was behind on both mortgages. Before I re-financed I had gotten taken even worse by Bank One with a 14% interest rate on a second mortgage. I am currently trying to re-finance as Ameriquest had to take the pre-payment penalty off once I paid the huge fees associated with almost getting foreclosed on.
I had to borrow the money from my Mom and now I owe even more money. If my credit was good enough I'd move but I'm stuck there. I hope they get sued and are forced out of business.
Ann
Richfield, Minnesota
U.S.A.
After I got the mortgage the guy who "helped" me was fired and they made me re-fax tons of documents etc. I also keep getting offers that they will re-fiance and when I looked into it I was told they wouldn't do it (so why were they sending me letters to re-finance).
I'm stuck and can't even afford basic necessities. I just recently almost lost my house to foreclosure as I was behind on both mortgages. Before I re-financed I had gotten taken even worse by Bank One with a 14% interest rate on a second mortgage. I am currently trying to re-finance as Ameriquest had to take the pre-payment penalty off once I paid the huge fees associated with almost getting foreclosed on.
I had to borrow the money from my Mom and now I owe even more money. If my credit was good enough I'd move but I'm stuck there. I hope they get sued and are forced out of business.
Ann
Richfield, Minnesota
U.S.A.
1 Updates & Rebuttals
Doug
Lf,New Jersey,
U.S.A.
Refinancing in the last 12 months with Ameriquest, you have been ripped off.
#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
