I TOO WAS SCAMMED BY QUICKEN LOAN LIVONIA Missouri
Quicken Loans need to be stopped! THEY SCAM PEOPLE OF $500. IMAGINE SCAMMING 100 PEOPLE OF $500 EACH DAY, THAT IS $ 50,000 A DAY FOR THEM!! THAT'S A GOOD BUSINESS!
I hope the federal govt will do something about this.
The same thing happened to me last month. With all the complaints here, the same scenario, promised to refund back the $500 when I told them that the processing fee seemed to be higher compared to the $300 asked by other lenders. But I went ahead assured that it will be returned to me regardless if I am not qualified or that it will be credited to the loan if I went ahead.
The loan numbers they give you at first is too good to be true, but the appraisal came in $25K lower like all the complaints here, ( I had the property appraised at $173K 6 months ago, and their appraisal came in at $155K only, even lower what the county had appraised it) and they started to deal with you with higher interest rates, and need to buy down points. They asked for a $10K cash from me because they saw that on my checking acct. When I said no, I received a letter denying my application.
I called and asked that my $500 be returned they said no for reason that I withdrew my application. I did not withdraw the application, I was still negotiating and waiting for their response for approval. I never got my $500 back. I think they are only after your $500. They are not interested in giving you the loan and they never really give you the loan. If you go with the loan, you will pay them higher interest rate. With a now higher interest rate offered and a loan value more than the property's worth, they know people will not continue with that offer. Beware!!!
Sharon
Glendale, California
U.S.A.
2 Updates & Rebuttals
Sharon
Glendale,California,
U.S.A.
QUICKEN STILL DOES THEIR THING
#3Author of original report
Thu, November 02, 2006
In response to the rebuttal from this company, I have given all the requirements they requested, even the previous appraisal report from another company jsut to compare, EVERYTHING WAS SUBMITTED AND COMPLETE, go check with the agent who handled this case.
THIS COMPANY WILL JUST TAKE YOUR $500.00.
I have lost my $500. EVEN IF YOU GO AND DISPUTE THE AMOUNT WITH YOUR BANK, IT WILL NOT BE RECOVERED.
SO FOLKS, BEWARE!
Maria
Pinckney,Michigan,
U.S.A.
Client Relations Team
#3UPDATE Employee
Tue, August 01, 2006
This posting is from the Quicken Loans Client Relations Team - we have identified the author of this post in an attempt to resolve her concerns. We did speak with the author in July 2006; however, we have not received a copy of the author's previous appraisal as requested. Due to privacy reasons, we are unable to elaborate further, however if the author contacts us at 1 800 863 4332, or via email at help@quickenloans.com, we can resume our research. Our goal is for every client to have an outstanding experience with Quicken Loans which is why 94% of our clients say they would refer us to friends and family. We look forward to hearing from the author at her earliest convenience.