If you’re one of the 12,000 Washington residents who financed a home with an Ameriquest loan, it’s time to sort through your mail. The company will pay $9.1 million to Washington homeowners as part of a $325 million nationwide settlement, in which states alleged widespread fraud.
Claim forms were sent last week to eligible Washington consumers who financed loans between Jan. 1, 1999, and Dec. 31, 2005. Washington borrowers who participate in the settlement will receive payments as little as $100 to as much as $4,400, depending on when they applied for a loan and individual circumstances. And because the Attorney General's Office and the Department of Financial Institutions received additional money for our leadership role in the lawsuit, many folks here will receive larger payments than those in other states.
To receive money, you must mail your form to the settlement administrator by Sept. 10, 2007. Find more info online at www.ameriquestmultistatesettlement.com. You can also call the settlement administrator at 1-800-420-5875. (Hearing-impaired persons may call 866-494-8274.)