Jury Awards Arizona Couple $1 Million Due To Ameriquest Mortgage Screw-Up

The Arizona Daily Star reports:

• "A jury has awarded more than $1 million to a now-divorced Tucson couple who lost their home after trying to refinance a mortgage through Ameriquest Mortgage Co. The lender, which also is facing $295 million in restitution payments for predatory lending practices, led homeowners Ronaldo Rodriguez and Jodi Aguirre-Rodriguez to believe they had refinanced the loan for their single-family home in Midvale Park, according to a complaint filed in the suit. But the loan wasn't approved, and the couple didn't learn that until their previous lender, Bank of America, foreclosed on the house, and it was purchased at auction by an investor, according to the complaint."

For more, see Tucsonans awarded $1M in bungled loan.