Misrepresentation by Quicken Loans
After months of trying to get refinanced by Quicken Loans I was forced into a house appraisal by QL. They told me I could not obtain refinancing until I paid $500. for an appraisal. After the appraisal QL said I did not qualify, but kept the $500! Therefore, by contacting them online from an online advertisement, it cost me $500 just to be rejected. The man who really messed this up and who was never straight was Michael McLure. His associate was Sam Assad who at least was nice while taking me for 500 bucks. Understand that these fellows had all my credit and financial info BEFORE the housing appraisal so they could have been professional and have told me that chances were good that I would NOT be successful in obtaining a refinance. But no, they took me for $500. They also managed to mess up my credit score which will hurt me for years. When I started the process with Quicken Loans my credit score was 750. It has now dropped more than 70 points! $500 and loss of 70 points --- that's the unfortunate legacy of my experience with Quicken Loans.
Just in my defence of my credit worthiness;
- live in same house for 13 years
- self employed at same job for 42 years!
- very good credit history
- own 2 cars
- own other property with no mortgage
etc.
I have to wonder if my handicap (wheelchair) played a role in Quicken's decision making process???
Thanks for listening to my story.