Ameriquest, Town and Country Credit Corporation and AMC Mortgage, Services, Inc., formerly known as Bedford Home Loans are paying $325 milling restitution to settle with homeowners for allegations of failure to disclose home loan terms.

“Hard-working families trying to buy a home wound up as targets of improper sales practice,” said California Attorney General Edmund G. Brown Jr. “This settlement provides homebuyers with at least some of the restitution they deserve.”

Eligible consumers who wish to participate in the settlement may do so by completing claim forms which will be mailed to them.

“Texans will not tolerate predatory lending schemes that lock would-be homeowners into a seemingly endless cycle of debt,” said Texas Attorney General Greg Abbott. “We are pleased that Texas homeowners who were harmed by this lending giant will share nearly $21 million in refunds. The Office of the Attorney General will continue protecting homeowners from deceptive lenders.”

Pamphlets have been mailed out along with the claim forms to consumers “forms to provide additional information about the restitution process for eligible consumers.”

Here is the link to the full article:
http://www.consumeraffairs.com/news04/2007/07/ameriquest_states.html

Michelle