In Oct of 04 I purchased a home through Ameritrust lending. Due to unforseen circumstances we decided to sell. We were told by our Ameritrust broker not to do this as we wouuld have an early payoff penalty and over 30,000 in Capital gains. We asked for a refinance then to pay all medical bills and was told we could not. Our broker told us she could get us a buyer at 30,000 down and then actually make the full sale in Oct of 2006 to avoid all fees. When the date for the exchange of the 30,000 came, they only had 5,000 and a contract that we of course refused to sign. We then decided to sell our home and pay what we had to. When we recieved a purchase offer we were informed that we already had a option to buy real estate contract on file. It was by this same broker and her partner. This contract is hand written and bears the signatures of both myself and my husband, basically giving them my home for 1,400 down and they get 50% of its equity on closing. We signed no contract> My broker had set me up from the very beginning. My home is worth twice what I paid for it because of renovations and she saw this when she came over. Now we are in a lawsuit over this thievery and am pretty positive we are not the only ones they have done this to. We looked the investor up online and found that he has many businesses in both his and our brokers name. At least 15 that we found. They have bought several properties and resell them as fast. They have sent people by to look at our home> This is supposed to be a legal loan office? They are thieves.
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