Expert: Dick Dennis - 7/16/2006

Question
Hi Dennis,
   I have a question reguarding my right to cancel.  I received a letter informing me  that Ameriquest was found to be using illegal tactics by over appraising home when refinancing in order to qualify the home owner for the loan.  The result was that Ameriquest had to pay restution in the amount of 600.00 to customers.
    My home is now in foreclousure and on the 15th of July a registered letter sent to me from AMC Mortgage saying that I might have the right to cancel the mortgage before it is sold. How do I go about doing that can I file on my own since I have no money to pay an attorney? AMC took over Ameriquest customers and they are the ones foreclousing on my house. So Ameriquest was found to not only violate appraisal laws they were also found guilty of not giving right to cancel mortgage information and that could be an issue that would qualify me the right to cancel and void my mortgage with Ameriquest due you think I could do that?
   I also wanted to ask how to go about removing my daughters name on the title by having her sign a quick claim deed and protect her credit.
   I live in the state of Michigan and my home is scheduled for sale on July 24th. Any advice you can give me would be greatly appriated.  I lost my job December 2004 and fell behind on my payments resulting in my current situation.  I cannot pay the past due amount and I would like to stop the foreclouser and sell my house in a couple of months once some minor repairs are taken care of.
 Thanks Sandy Oliver.  

Answer
Are you sure you are understanding it correctly? If they say you have the right to cancel the mortgage, I don't know what you're waiting for. Go ahead and do it. But you should ask somebody at AMC how. If they tell you they can't advise you or are not willing to help, somehow you should get yourself a REAL ESTATE attorney to do it correctly. This is giving your credit a fresh start from what I can understand.

The whole state of Michigan is going down the tubes from what I have read and heard. So, many people have written to me from Michigan. Do not hesitate. Get someone to help you with the cancellation.

I do wish you well.

Dick Dennis             dixiedee13@aol.com