Customers with complaints about a national mortgage company now have a toll-free hotline to call to report their claims. The Ameriquest Mortgage Company has paid nearly $300 million into an account that will reimburse customers who were over-charged on their loans.
Attorneys General from several states, including Iowa, won the settlement earlier this year. The group accused Ameriquest of using a variety of unlawful lending practices, like giving borrowers inaccurate information about interest rates, inflating property appraisals and pressing customers to refinance even though the new loan terms didn’t provide a financial break to the customer.
Iowa’s Attorney General estimates that as many as five-thousand Iowans are eligible for a part of the settlement. Ameriquest loan customers who are eligible will get a letter in early 2007.
The company has just established a toll-free telephone number and a website for customers to check to see if they are on the list for restitution. The phone number is 1-800-420-5875. Follow the link below for the website with details about the settlement.
Related web sites:
Ameriquest Multi-State Settlement