QUICKEN LOANS ripoff alert, do not give them 1 red cent! Cannot close a loan! Livonia Michigan
Recently my wife an I went looking to refinance our home and decided Quicken Loans was a good way to go. The process started smoothly, except for the $500. deposit they ask for up-front, which we gladly paid to start the refinance. Everything seemed to be goiong smoothly until it came to the appraisal. They sent there own appraiser out to do the appraisal. A few days later we got the appraisal back at $216,000. We only owe $129,00 on the house.
We both have good jobs and better than 600 credit scores. About a week later they called us back and said that the appraisal couldnt be used because we have only lived in the house for 9 months and they had to revert back to the appraisal that was done when we bought it, mind you we built this house brand new for $130,000. So they withdrew the loan becaus ethey "couldnt" apprais eit for what we wanted to refinance at, $172,000, well under the appraisal.
Well, we are finishing the ref with AmeriFirst Financial who appraised it at $225,800 and we are just about to close that loan with only $365 up front for credit reports and appraisal fees. NO MONEY BACK from Quicken and no returned phone calls. WHAT A SCAM! NEVER, I REPEAT NEVER, use Quicken Loans, unless you have $500. you dont really need.
Chris
Queen Creek, Arizona
U.S.A.
1 Updates & Rebuttals
Chris
Queen Creek,Arizona,
U.S.A.
Update: Charged Again for same loan!
#2Author of original report
Mon, June 20, 2005
Just received my credit card statement on June 17th, Quicken has again charged me $332.00. I was infuriated and called my credit card company. They were more than happy to reverse the charges from both times that Quicken had done and said that they have had MANY problems with Quicken Loans. Thank You Capital One, You saved me, and hopefully many others who dispute the charges from Quicken!