There is big news in the second mortgage world. Ameriquest, a mortgage and second mortgage site for people with bad loans, will be settling a major lawsuit sometime next week. By getting a second mortgage loan from them, you could possibly be even more in debt or bankrupt because of their unlawful practices. Many people even loss their houses because they borrowed from this company. It is sad to see how many people were affected by this company, and the lack of punishment it received from the government. The settlement is only around 300 million, which compared to the total money lost by people, is practically pocket change.