MISTY
ST PAUL,#2Consumer Comment
Thu, March 06, 2003
I refinanced w/ Ameriquest about 5 years ago. I knew that I would be selling in about a year so I requested that there be no pre-payment penalty. The "preliminary" papers that were brought to my house had a big black X in the box that sais No pre-payment Penalty. Silly me, I thought that my mortgage would be what they told me it would be. When I sold the house later, there was a 5% prepayment penalty. Needless to say I was not happy that I had been lied to. I had to pay the d**n penalty which was almost half the money I was making on the sale of the house. I did contact a lawyer (I had kept all my paperwork including the preliminary papers that said very plainly No Pre-payment penalty) and I did end up getting my money back, but it did cost me over $500 in lawyer fees. I would not suggest that ANYONE EVER use this company no matter how badly they want to refinance or how good they make it sound. It will cost you a lot more than money in the long run. They are rude and theives and lairs.