- Report: #84621
Complaint Review: Quicken Loans - Michigan
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Quicken Loans
Michigan, U.S.A.
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Quicken Loans ripoff, Watch Out!!!! Michigan
I contacted Quicken Loans for my refinancing and before they asked me for any important iformation regarding the loan, they first asked me for my credit card number. After they have taken the $500.00 fee we started on a long and "going nowhere" journey. A very nice and soft spoken agent gathered all my information and since I am self employed asked me to fax them my tax returns and bank statements. After spending over 40 minutes in front of the fax machine feeding the equipment with all my life's history I received a call from her telling me that I was well qualified for the loan (after the appraisal come very positive) at a rate of 5.8%. After that she called me again to ask me for a letter from my accountant stating that my business would not be in jeopardy if I made withdraws from the business account (My business is my only source of income. Where does she think I a'm getting my money from???).
I called my accountant and he faxed her the letter and send me a bill for $75.00 for doing that. We were almost ready to close on the loan when she calls me at evening saying that after the review by the underwritter, I did not qualify for that program after all but she coud me offer a rate almost 2% higher than the one I was originally approved for.
Since I was not desperate for a loan and felt decieved I decided not to go with them. So If you are out there looking for a loan, be carefull before giving out your credit card number to Quicken Loans they may take your money and take you nowhere after that.
Al
Melrose, Massachusetts
U.S.A.
I called my accountant and he faxed her the letter and send me a bill for $75.00 for doing that. We were almost ready to close on the loan when she calls me at evening saying that after the review by the underwritter, I did not qualify for that program after all but she coud me offer a rate almost 2% higher than the one I was originally approved for.
Since I was not desperate for a loan and felt decieved I decided not to go with them. So If you are out there looking for a loan, be carefull before giving out your credit card number to Quicken Loans they may take your money and take you nowhere after that.
Al
Melrose, Massachusetts
U.S.A.
1 Updates & Rebuttals
Mary
Livonia,Michigan,
U.S.A.
Quicken Loans, Ripoff, Watch out!
#2UPDATE EX-employee responds
Thu, November 04, 2004
First of all Al, Lets be real here. I worked for Quicken Loans and know the entire loan process. In your statement you said "I contacted Quicken Loans for my refinancing and before they asked me for any important iformation regarding the loan, they first asked me for my credit card number." That is completly untrue. There was two calls. On the first call, they asked you about your personal financial situation to find a way to best fit your needs. They also asked you about your home's value and what you did for a living. They explained how the process worked, saying that they would take all of your information, and find a program that would work best for your personal situation, and would call you back with some program options. If at that point it made sence for you to refi, they would accept a $500 good faith deposit. So, you obviously agreed, and when they made the second call back to you, you agreed that it made scense. At that point you gave them your $500. If this happened any other way, it is your fault for just giving someone your money without them asking you any information about your loan.
