Complaint Review: Ameriquest Mortgage - Orange California

My experience with a ripoff lender. Few years back some ripoff company contacted me about refi on my house. I was paying appox. 7.5%. This kid comes by the house Wed. night. He gives us this spiel about how they'll lower, the interest rate to appox. 5.5% and my monthly house payment. He can't give us an exact figure but I know we'll get a truth in lending sheet before closing. The weird thing about is that after paying extra for a few years, the original balance was $106k. Now I'm down to $94k. They're gonna refi for the $106k. WTF??? $12k in closing cost? I don't think so. I get the truth in lending statement and they're gonna charge me 6.5% PLUS $12k in closing costs. Are they insane? TWO days later my insurance company calls me at my office to say this lender was attempting to change them as the payee. Mind you our closing date was another TWO weeks off. I told them no way were they to allow any change. I called the ripoff company and told them if they did anything, they'd be dealing with my attorney. The stopped everything and refunded my $250 deposit. I ended up refi the house at 5.75% and $800 in closing cost. A big difference from 6.5% and $12k in closing costs.

Hi I would like to let as many people as I can, know about our service that legally (lawyers are used), goes after Predatory Lenders. About 99% of homeowners have Violations and blatant fraud on their mortgage documents written by lenders and brokers..we go after them. There are monetary awards for the home-owners. We have an expert who audits for the violations and fraud, puts together the violations , law associated with those violations and exhibits. He states , (using their mortgage docs that they gave to the home-owner to sign) the name of the doc., page it is on and the paragraph and sentence, the violation or fraud and the law that is broken..they can not lie, it is all black on white. Attny Generals have won $300 Million in settlment fees form Ameriquest, $430Million form HHF, AARP has won $60 Million in settlement fees. These predatory lenders are causing people to lose their homes, charging high interest rates, making people pay hundreds of thousands of extra dollars with out informing the home-owner. What we do is EMPOWER home-owners with the proof togo after these thieves and make them pay HEFTY amounts of monies to the home-owner that they have victimized. If you are interested in learning more we have live guest calls on Thursday evenings, please contact me. Blessings, Geri

I am a Mortgage Broker, and I understand completely where everyone is coming from regarding Ameriquest. Fact of the matter ROBERT, is that most homeowners are as " savy" as you claim to be. Purchasing a new home or refinancing often can be overwhelming ( all the paperwork). It is up to the mortgage broker or lender to explain everything completely to the borrower, and because Ripoutquest is in business, homeowners think they know what they are doing. The long and short of it is if your with Ameriquest, GET AWAY NOW! I have mentioned it before, I have clients that were " ripped off" by Ameriquest, big time, but.. I helped them break loose from the chain of hell of this company. I have seen first hand how Ameriquest inflates the value of homes, forces people to stay in arms ( adjustable rate mortgages) with a 3 year prepay, but the rate is only locked for 2 years. Robert, Robert, Robert, and how much do you make at Ameriquest?!!!!!!!

You are lucky you have an "edge" but most of us out here don't have that. I did my research on Ameriquest and what I found was good. What the reps said was good. What I got was not good. Yea, I broke the contract by being late on a few payments. I was placed into a situation that I had NO control over. And you know ... most companies will work with you. I said MOST companies. That does not include Ameriquest. Who am I to decide what they charge? I am a customer. Customer as in if they didn't have customers, they would not be in business now would they? I'm not trying to DECIDE what they charge. I am protesting the fact that they are charging fees that are unreal. I am protesting the retaliation I am getting from this s**t company since I was involved in a class action suit. I am protesting their fraudulent ways. So if I wish to DECIDE to sue them again, I signed a document stating I could not, BUT only for what I sued for in the class action suit. They have upped the ante now. They are charging fees even their own reps can't explain. So, yea, I can DECIDE a lot of things and I am smart enough to know that the fees they are charging are bogus. As I said before, I did my HOMEWORK but, unfortunately, I did not find this site before I became a customer. Check out their website, their commercials, hear their reps. NOWHERE did I see they were a SUBPRIME company. I had perfect credit, even though my now ex-husband did not, but the loan was based primarily upon me. I could have refinanced anywhere. Ameriquest seemed like the best choice at the time. I know what company I will refinance with as soon as November gets here when I can get away from the theives without paying their stupid pre-penalty fees of over $6,000. And before you say you knew this because you signed the contract, yes I did BUT I was not told I had the option to select another plan without these fees. Yes, it's up to the consumer to research but consumers can be fooled. And that's exactly what happened to myself and the hundreds of others on this website. I guess since we don't have the "edge", that is what happens right?

Kathleen, By no means am I defending them and if you bothered to read any of my posts I clearly state that I do not like them. I was simply asking how they were ripped off. No I do not have my home financed thru them because early on I was taught to do my homework when doing a business transaction. I also work in the industry so I have an edge on most people. I am sorry everyone feels ripped off but I am just stating that most reasons are not legitimate. Not paying your mortgage and get foreclosed on is not being ripped off! Yes these companies can charge legal fees and I am sure you know how expensive lawyers are. Who are you to decide how much they can charge? You are the one that broke the contract you signed, not them. One final comment on this subject.... I DO NOT like Ameriquest and they will soon be out of business and the quicker everyone realizes they have options and does a little homework when refinancing or purchasing a home, the quicker they will be gone. But be warned, as soon as they are gone there is another company right behind them to take their place! It is up to the consumer to research their options!

Thanks for posting the info for The National Association of Consumer Advocates. I located an attorney through them today, spoke with him and set up an appointment for Wednesday. When I explained my situation and said the EVIL word Ameriquest he told me he has other clients he is working with as well that are in the same boat. And best of all......there is no charge unless we win. I'm also going after the appraiser as well. So, if anyone needs legal help with their own Ameriquest nightmare, I hope this will help some of you!!!

4/12/05 at 07:15 PM NOTARY GOOD TO HEAR FROM YOU, ALEX WAS FEEDING ME SOME INFO PAUL WAS AN OFFICE MGR IN CORAL SPRINGS , THEN SOMEONE TOOK HIS PLACE THIS WAS SMALL TABLE TALK !!!!!!!!!!!!! WE HAVE SOME QUESTIONS FOR YOU !!!!!!!!!!!!!!!!!!!!!! 1. IS IT TRUE THAT I HEARD THEY ARE CANNING ALL OF THE NOTARY'S AT THE END OF THE MONTH ???? 2. WHEN YOU DID A CLOSING , DID YOU SIGN YOUR NAME AS IT APPEARS ON YOUR STAMP ??????? 3. OR WERE YOU ABLE TO JUST USE YOUR INITIALS ?????? 4. WE KNOW YOU ARE NOT SOLELY RESPONSIBLE FOR ALL THE FRAUD WITH IN AMERIQUEST, BUT YOU KNOW AMERIQUEST IS GOING TO TRY TO PLACE THE BLAME, AS MUCH ON YOUR SHOULDERS AS POSSIBLE, BECAUSE THEY ARE SAYING THEY ARE THE VICTIM'S, SO IT'S OBVIOUS ALL OF YOU ARE GOING TO HAVE TO COVER YOUR BUTTS WHAT INFO CAN YOU PROVIDE , THAT WILL HELP US IN OUR FIGHT TO BRING THEM DOWN, WE NEED THE JUICY STUFF !!!!!!!!!! WE ALREADY KNOW WHAT HAPPENED AT THE AE'S LEVEL, YOU HAVE THE PROCESSOR'S WHO WERE CREATIVE WITH MANY DOC'S YOU KNOW THIS WAS WELL ORCHESTRATED FROM HIGHER UP , IN THE COMPANY !!!!!!!!!! WHEN YOU HAVE THIS MUCH FRAUD GOING ON ALL OVER THE COUNTRY, THIS PATTERN AND PRACTICE WAS ORDERED FROM UP ABOVE YOU COULD ALWAYS CALL ME , WITH THIS INFO I'M SURE YOU KNOW MORE THAN YOU CARE TO KNOW I'M SURE YOU HAVE READ AND SEEN MY PART OF MY STORY IN THE TAMPA TRIBUNE , ST. PETE TIMES AND THE LA. TIMES HELP US OUT WHERE 'S THE LOYALTY WHEN A COMPANY LIKE AMERIQUEST CAN BEND YOU OVER AND STICK IT RIGHT UP YOUR AS_ , AND THEN TELL YOU TO GET LOST

You said they need to break a law? Don't you think they have since there are so many class action suits? I was already involved in one and they had to pay for "breaking laws". As for having no leg to stand on ... I did NOT know about some of their little fees they now feel they can add to my loan. Attorney fees, THEIR attorney fees of over $9,000. Yea, I'm gonna pay that alright. When I was experiencing financial hardship after my divorce, I was late a few times but have more than made up since. They claim I owe over $700 in late charges. Another yea right. So don't comment, negatively, on everyone's posting until you know the whole story. If someone takes the time to post their story on here, they feel they have been wronged. Since this is all Ameriquest rip off postings, ALL have been wronged I'm sure. I'm sure you don't have your home financed with these theives or you wouldn't be so quick to judge others.

How were you ripped off? I am sure you posted a seperate thread on this, but what exactly did Ameriquest do to you? If you feel the rate and fees were too high after you signed the paperwork then you don't have a leg to stand on. They need to actually break a lwa to be sued.

How were you ripped off? I am sure you posted a seperate thread on this, but what exactly did Ameriquest do to you? If you feel the rate and fees were too high after you signed the paperwork then you don't have a leg to stand on. They need to actually break a lwa to be sued.

How were you ripped off? I am sure you posted a seperate thread on this, but what exactly did Ameriquest do to you? If you feel the rate and fees were too high after you signed the paperwork then you don't have a leg to stand on. They need to actually break a lwa to be sued.

How were you ripped off? I am sure you posted a seperate thread on this, but what exactly did Ameriquest do to you? If you feel the rate and fees were too high after you signed the paperwork then you don't have a leg to stand on. They need to actually break a lwa to be sued.

You can obtain the name of a lawyer or consumer advocate through the national association of consumer advocates. They have a listing of professionals by state who specialize in consumer law. You can also look for attorneys who specialize in consumer law in your local yellow pages. Be wary of anyone who requests payment of a large retainer up-front. In many states, the law provides that the company who defrauded the victim has to pay the victim's attorney's fees. Mostimportant is to trust your attorney or advocate. Good luck

What type of attorney do I contact? I've tried several different ones today and pretty much every one of them said it would be hard to prove. One attorney even had the nerve to say to me "did you get the cash out that you needed? Then what is the problem?" The ones who would listen informed me that it would be expensive to pursue. What type of compensation could I possibly get from Ameriquest if I were to sue or get involved in a class action suit? All I really want is the difference between what they claim I appraised at so I can sell this house, move to a different one and forget about this nightmare!!!

What type of attorney do I contact? I've tried several different ones today and pretty much every one of them said it would be hard to prove. One attorney even had the nerve to say to me "did you get the cash out that you needed? Then what is the problem?" The ones who would listen informed me that it would be expensive to pursue. What type of compensation could I possibly get from Ameriquest if I were to sue or get involved in a class action suit? All I really want is the difference between what they claim I appraised at so I can sell this house, move to a different one and forget about this nightmare!!!

What type of attorney do I contact? I've tried several different ones today and pretty much every one of them said it would be hard to prove. One attorney even had the nerve to say to me "did you get the cash out that you needed? Then what is the problem?" The ones who would listen informed me that it would be expensive to pursue. What type of compensation could I possibly get from Ameriquest if I were to sue or get involved in a class action suit? All I really want is the difference between what they claim I appraised at so I can sell this house, move to a different one and forget about this nightmare!!!