Quicken Loans
1050 Woodward Avenue
Detroit Michigan 48226
United States of America
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Quicken Loans Promised a refinance on home loan Detroit, Michigan
*Consumer Comment: liers
1Author
1Consumer
1Employee/Owner
Quicken Loans told me that they would be able to refinance my home. I told the lender that I had previously got an appraisal six months ago and the value of my home had dropped significantly. The lender, Randy Ross, said it would be fine and told me they charged a $500.00 fee to do the appraisal.
He also said that my address showed a value between 290,000.00 and 360,000.00. Again, I told him that even though my home was purchased in 2007 for 319,000, my appraisal done in September of 2010 was for only 274,000.00. He assured me that it would be fine.
I paid the money and an appraisal was done. It came back at 260,000. He told me in order to do any type of refinance, I would need to bring $46,000.00 to the closing. I feel that I was ripped off. He should have never said that I even had a chance of refinancing.
At one point, he even told me after the appraisal was done, that I still qualified for a 293,000.00 loan with no money due at closing. He then said it was an error due to fuzzy math. His fuzzy math wasted my time and money.
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REBUTTALS & REPLIES:
1Author
1Consumer
1Employee/Owner
Updates & Rebuttals
#1 Ex-Employee
AUTHOR: ABC - Phoenix (USA)
SUBMITTED: Thursday, March 31, 2011
POSTED: Thursday, March 31, 2011
Sorry to say, but that is par for the course. LO's are expected to get applications regardless if they will close. The easiest way to do this is by inflating the appraised value and then telling you tough luck when the value doesn't come back high enough. That particular LO was able to put a mark on a sales board when he took your $500 "deposit" and everyone probably clapped and told him great job. When your loan was cancelled, nobody cared. The reason you will never get your $500 back is because if you do, the LO will be docked this $500 from their pay check. There is no way the LO will approve a refund if they are the one that loses the money at that point.
#2 Consumer Comment
AUTHOR: farclequeen - (United States of America)
SUBMITTED: Friday, July 29, 2011
POSTED: Friday, July 29, 2011
i love how all these employees like to try to discredit the people who they are ripping off. we put up the money then someone called and warnd us and told us to go to this site, we are currently trying to stop payment before they take it out. i know they are lieing because it does not cost to get your credit report and other info. if anyone talks to you from them dont beleive a word they are saying its all talk.
