Quicken Loans, Alan Ross, David Tressler $500 Ripoff Cleveland Ohio
David Tressler convinced me that I should go with Quicken Loans. He offered me (over the phone) a great rate and everything I wanted, and stated that since I have 65% equity in the home and was preapproved, all he needed was a $500 fee up front. I gave him my credit card number.
Wow, how stupid am I ?!!!
He called back about a half hour later and stated that they could not fund the loan and that the $500 was NOT charged against the credit card.
20 days later, I found the $500 charge posted on the same day that Tressler said that they could not fund the loan and that they had NOT billed the card.
The simple answer is refund the money, but they are fighting like pit bulls to NOT refund my $500.
Cegahr
Colton, California
U.S.A.
1 Updates & Rebuttals
Darens
Chandler,Arizona,
U.S.A.
Run For the hills when you hear Quicken
#2Consumer Suggestion
Mon, August 20, 2007
I am in the same business and come across so many clients who have paid this $500 fee only to find that Quicken is either not able to honor the rate quoted or not disclosed the discount point needed to get there. Now that they can't do home equity lons or Alt-A, they will tell you anything you want to hear to get your $500. If ANY lender charges you anything to receive a good faith estimate, you need to look elsewhere.
The market is getting tighter and who really needs a 23 year old, been in the business for 6 months, working 70 hours a week to make no bonus working on their behalf. I am truly shocked that any "mortgage banker" could even work there. They are without a doubt the "Ameriquest" of the business. Who do you think pays for all of the ad's on radio and t.v.? Who pays for all of their employee turnover? Who wants to get treated like a number, that is until you question their figures, then it gets much worse.
Take you loan to any local mortgage broker and see how much you save. And if you believe their "what no-name company are you talking to crap they throw at you, than you are a sucker. Quicken does NOT service any loans! They have no affiliation with Countrywide or anyone else. If you work there, you are a fool amking no money and for some reason pround of it. If you are a prospective borrower, do your homework. There is simply too much information out there on this company to say "I didn't know".