- Report: #134084
Complaint Review: Quicken Loans - Livonia Michigan
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Quicken Loans
20555 Victor Parkway Livonia, 48152 Michigan, U.S.A.
Phone:
800-226-6308
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Quicken Loans ripoff Liars, Scam Artists, MAY SOUND NICE..DON"T TRUST IT!!! Livonia Michigan
WE tried to refinance our house through Quicken loans and boy do we have a story to tell....I won't get into all of it, but if you would like to know in more detail please let me know, I would be happy to ablige. Quicken not only stole our $500 dollar GOOD FAITH DEPOSIT, they also told us not to pay our property taxes that they would do it and apply it to our loan..Liars!
Now we have a penalty fee and are out $500! They not only didn't they bother to call and let us know that they didn't pay our taxes, as they said they would, they NEVER returned our phone calls when we tried to get in contact with them! They had there own personal Appraisal company come and appraise our house, which was a two minute walk in walk out, that came back as just above what we had it apraised for less than a year ago! We had 10 comparables done, which came back as what our house should have been appraised for.
Quicken would not approve our loan because they found ONE comparable that sold for $40,000 less than it was appraised for! Sounds like a forclosure to me. After weeks of trying we finally got a hold of ALEX who is the person who set this up and she gave us the bad news of why they won't approve the loan now, and that we won't be getting our GOOD FAITH DEPOSIT back. The appraisal was bogus and so was the whole loan!! We are going all the way with this, I have spoken with my attorney, the State Attorney General and the Division of Finance and Corporate Security. Next is our state legeslature and local news.
I am fired up and not happy about it.....it is wrong that companies can even come close to getting away with this! Let me know if we can help you in your battle against Quicken in any way!
Patti
Albany, Oregon
U.S.A.
Now we have a penalty fee and are out $500! They not only didn't they bother to call and let us know that they didn't pay our taxes, as they said they would, they NEVER returned our phone calls when we tried to get in contact with them! They had there own personal Appraisal company come and appraise our house, which was a two minute walk in walk out, that came back as just above what we had it apraised for less than a year ago! We had 10 comparables done, which came back as what our house should have been appraised for.
Quicken would not approve our loan because they found ONE comparable that sold for $40,000 less than it was appraised for! Sounds like a forclosure to me. After weeks of trying we finally got a hold of ALEX who is the person who set this up and she gave us the bad news of why they won't approve the loan now, and that we won't be getting our GOOD FAITH DEPOSIT back. The appraisal was bogus and so was the whole loan!! We are going all the way with this, I have spoken with my attorney, the State Attorney General and the Division of Finance and Corporate Security. Next is our state legeslature and local news.
I am fired up and not happy about it.....it is wrong that companies can even come close to getting away with this! Let me know if we can help you in your battle against Quicken in any way!
Patti
Albany, Oregon
U.S.A.
4 Updates & Rebuttals
Brian
Westland,Michigan,
U.S.A.
Get real
#2Consumer Suggestion
Mon, May 08, 2006
It is real simple. You give a deposit. That deposit is used to cover incidental cost incurred by the lender. You agree to the deposit. The lender then sends out and appraiser (one of the incidental fees). The appraiser is NOT connected to the lender in ANY way other than an order is placed and they accept to fill that order. The appraiser then does a complex comparison. This is where most of you get confused...if appraisal hits value needed or not... If the value needed comes in...then the loan closes and no issues. Now remember that deposit...it gets credited towards all of your closing cost. If the value does NOT come in then your loan may need to be re-worked if it can be...if it can be then you will be presented with that offer and you can choose to close or not. If you close then guess what happens to your deposit...you guessed it, it gets credited towards all of your closing cost. If you do not like the re-worked loan OR the loan can't be re-worked OR you CHOOSE not to close your loan. Your deposit is used to pay the INDEPENDANT appraiser and the other incidentals like credit report. The appraiser gets paid no matter if the loan closes or not, that is what your deposit is for, that is what you are told at the time of application, and that is exactly what happens and you still "file a complaint"...I don't get it. Quicken does not control the value of your home. 99% of ALL of the "complaints" against this company is in regards to the deposit and everything is fine until the appraisal is too low. If Quicken did that with its appraisers...if they said to the appraiser "get the value we need so we can do the loan or you will not get paid"...that would be illegal and they would be in as big of trouble as Ameriquest. That is exactly what all of you are trying to do. You are saying that if my appraisal does not come in at where we need to close...then please do not pay the appraiser and give my deposit back to me... Also Patti, how did you expect Quicken to pay your taxes if the loan didn't close? Do you not understand how the mortgage process works? It is ok if don't, but you can't blame Quicken for things that aren't their fault....
Patti
Albany,Oregon,
U.S.A.
GET A LIFE
#3Author of original report
Fri, May 05, 2006
Please lady!! Get A life and A REAL Job!! Quicken is not a perfect system, try to understand that it has flaws! You are standing up for something that will fail YOU eventually! By the way, how much did they pay you to post THEIR opinion? Good Luck with everthing!
Michelle
Livonia,Michigan,
U.S.A.
No resolution
#4UPDATE Employee
Wed, April 26, 2006
There was no resolution because she's full of crap. No one stole your deposit lady...READ YOUR DOCUMENTS! Also, Quicken Loans does not offer a pre payment penalty, give me a break. 97% client satisfaction. 1.5 billion in closings a month. Don't think your little "we hate quicken loans" club is going to thrive.
Cyndie
Folsom,California,
U.S.A.
Did you ever get resoloution
#5Consumer Comment
Fri, August 12, 2005
We are beginning our battle with Quicken and I need to post our story too :-) but I'm curious what the resoloution was if any....
