Question by patiently waiting 123: who is going to be awarded the monies from ameriquest settlement?
I had a mortgage with this co and opted to refinance–due to what I believed was bad practices on their part.
Answer by DidYouSearch?
Of the funds earmarked for customers, $ 175 million has been allotted for eligible borrowers who took out mortgages between Jan. 1, 1999, and April 1, 2003. The cutoff date represents when the lender changed loan pricing practices that were misleading consumers, the state officials said.
How much money is due to customers who make claims on loans acquired during that span of time will be determined by each state.
Another $ 120 million in restitution funds has been earmarked to compensate customers who acquired mortgage loans between Jan. 1, 1999, and Dec. 31, 2005. The fund for those claims will be split among the states on the basis of how much money in loans consumers in each state have.
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