Quicken Loans stole $500.00 and stopped returning my phone calls regarding my reimbursement Ripoff Livonia Michigan

We as consultants have 0 contact with the appraisers. They get their values from comparable homes in your vicinity. We DO NOT employ appraisers to avoid an inflated value (which are illega) or We have to go with what you tell us from the beginning. We actually try to get MORE out of the appraisal then actual.... If the value comes in lower then what you tell us then we AUTOMATICALLY do a value appeal at NO cost to you. If the appraisal does not warrent or lose's the appeal, we try to re-stucture the loan first before denying or changing the terms per guidelines and client goals. If you asked for the appraisal then it will come via email, mail or fax. but it will come! Unfortunately we can not control some of the issues associated with the loans. Here is a question for all those who complain about the GFD..... Why should we pay for your appraisal? If that were the case then we would and sometimes do, but if we did, wouldn't you think that people would just come here for a free appraisals It cost's a lender money to start and LOCK your rate. Costs vary with your loan size and debt to income.... Credit is only 1 of four factors that determine rates and program. Please remember that when responding you will get a real answer. Not always the one you want to hear but what you NEED to hear!

I know about how financing a home works. When I gave the value of our home to the mortage company I low ball it according to the county assessor of property value etc. I only wanted the loan to replace an existing one with no cash out, but wanted to lock the lower interest rate. With the information provided including other home sales in our area called comps, she drew up a loan and said it would be simple to do. Our credit check came back good and we only neede the appraisal and the signature of the underwriter to finish the loan. On her advise she reccommended that we not pay our current mortgage payment for that month and did even call our current company to verify that a loan was being finalized. After the appraiser was here which wasn't long enough, and then when it came back low, we were shocked. She at first wanted another $500.00 for a second appraisal, and we couldn't do that we suggested that they provide the second one. After that we were having a hard time getting a hold of her. Our calls weren't being answered etc. I had to call the receptionist and ask for a transfer to her line with a fake name, just to get through to her. She assured me that I would get the $500.00 back and a copy of the appraisal which is our right, and it is quicken who contracted the appraisal company not us, so yes it is questionable. Almost 2 years is a long time to wait for an appraisal. I requested a hard copy to be mailed to me via usps. So as far as I'm concerned our verbal contract regarding the loan, $500.00 refund, and the copy of the appraisal, has been all a scam.

Quote - "We as consultants have 0 contact with the appraisers. They get their values from comparable homes in your vicinity." UnQuote

Well, looks like Warren is busy putting the spin out here.

As a matter of FACT, on the Quicken loan application, it states that TSI is the appraisal company used by Quicken.

Sure, the so called "Quicken BANKERS (sic)" do not have direct contact with TSI, the appraisal company. HOWEVER - Quicken OWNS TSI.

See a conflict of interest here, with the consumer being the LOSER?

You can nit-pick all you want to WARREN, but the real truth minus the SPIN is that Quicken Loans makes plenty of money off of the $500.00 fee. It just goes into another Quicken pocket called TSI.

A phone message was recieved on my answering machine froma quicken rep. She is calling regarding sending me a copy of the appraisal. After rereading my original message and them my additional comments I believe I made myself clear that I am entitled to not only a copy of the appraisal, which is now of no value now being that it is almost two years old, but my refund of $500.00 since the appraisal is of no value, and restitution of the verbal agreement that we not pay our mortgage that month as quicken will be sending the payoff within the week. It cost us another $1,800.00 as we had to sell profiting stock, plus late fees etc from centex. I will call them today and hope that it won't be more wasted time. I'm hoping that if enough people have had this conflict that we can all file a class action lawsuit.

They love to hold that deposit, think about it. If you are collecting a million $ in deposits (as Q calls it) per week. Can you imagine the interest they are making off of holding your deposit????

I spent years working with the company - They program all of the "Bankers" (LOL really an office of High School Telemarketers ages from 18 to 25 - most have no college educations ) to take your deposit upfront.

I'm now an Mortgage Broker who never would take a deposit - all of my clients pay at the door.

This posting is from the Quicken Loans Client Relations Team -

We have reviewed this situation with the author of this post in an effort to address her concerns. If you are reading this post and you would like assistance with your loan please contact the Client Relations Team at 1 800 863 4332 or via email at help@quickenloans.com. We'd appreciate the opportunity to discuss your situation. Our goal is for every client to have an outstanding experience with Quicken Loans which is why 94% of our clients say they would refer us to friends and family. We look forward to hearing from you.

After a phone conversation with a client relations rep. I have done some investigating regarding my loan, and find that the loan application, and additional paperwork differ from what she says happened regarding the loan. I guess I will have to require copies of the paperwork that they have to verify what she said.

In the mean time she states that after we signed a form that we were in process of getting a loan they don't have to refund any money regarding the appraisal, because I live in Washington state. So in other words I purchased an appraisal for approx. $400.00 and was not sent the appraisal for which I purchased for almost TWO/2 years. Now with any other business, if you don't receive your item of purchase it is a law that you be notified of the delay and/or receive a full refund until your item can be made available. Based on that law, regarding my purchase I did not receive for almost two years I should be entitled to a refund.

Perhaps dealing with a company regarding loans like this should be done soley in a local office that can be accessed by the person obtaining the loan. No more long distance loan deals for me.

After publishing this complaint on ripoff report, I was contacted by Quicken Loan's.  They apparently wanted to talk their way out of what they did by saying things like, I wanted more money than the house was worth and that the original offer expired, so they were not entitled to give me a refund. 

I always was in contact with them due to the fact that there are timelines when working on an offer etc, they were the ones dragging their feet and the loan officer was not communicating with us nor the underwriter.  We were prepared to take the lesser loan amount at the lower interest rate and then were told that the offer expired.  We still have not recovered from this scam and it's time they paid us back.  We have waited 3 years for restitution that apparently we aren't going to see.  I hope this company re-thinks the loan telemarketers they hire before others fall into this mortgage trap. 

Try this site and file a report if warranted:

http://www.ftc.gov/reports/index.htm

 

I sorry, but I have to say something here, First off. most of these guys are using landsafe appraisers.. the very company which was owned and operated by Country Wide which is now own by BANK OF AMERICA..

Everyone knows that Country Wide was accused of inflating values of the housing market before it burst..  What the appraisers ARE doing now is .. just the opposite. they run to the fact that they are forclosures and short sales that are affecting the values of propertys.. and  that is true. if that is all the appraisers are looking at..  BUT THEY ARE SUPPOSE TO LOOK AT ALL RECENT SALES.. IN YOUR AREA.. WITH IN  A CERTAIN MILE RANGE.

 YOU WILL BE LUCKY IF THEY TAKE THE TIME TO RESERACH  THE PROPERTY LIKE THEY CLAIM..

 AND I BET YOUR APPRAISER JUST LIKE MINE.ASKED YOU HOW MUCH YOU PAID FOR THE PROPERTY BEFORE SHE OR HE LEFT..  THAT GOES TO SHOW YOU HOW LAZY THEY ARE IF THEY WANTED THAT INFORMATION ITS ON ALL TAX DOC'S  BUT THEY ARE TOO LAZY TO LOOK IT UP..  

IN FACT MY APPRIASER HAD A FIGURE IN HER HEAD PRIOR TO EVEN EVAL MY POPERTY IT DIDNT MATTER WHAT UPDATES I DID TO MY PROPERTY BEFORE THAT APPRAISER WAS IN MY HOUSE SHE KNEW WHAT FIGURE SHE WAS GOING TO APPRAISE THIS HOUSE AT.

 ONE OF THE RULES IS  THE COMPENTENCY RULE MEANING  IFTHE  APPRAISER IS OUTSIDE OF YOUR COMMUNITY SHE HAS TO BE COMPENTENT ( SHE HAS TO BE FIMILAR WITH YOUR AREA.)

 IN MY CASE MY APPRAISER CAME FROM SPARTA, MI THERE WAS NO WAY THAT WOMAN WAS FIMILAR WITH HOLLAND MICHIGAN 

WHAT THE MLS DOESNT TELL YOU IF IT WAS A SHORT SALE

A FORECLOSURE..

THE APPRAISER MADE THE FOLLOWING MISTAKES WITH MY PROPERTY

THE SQUARE FOOTAGE WAS WRONG

THE NUMBER OF BEDROOMS WAS WRONG

THE NUMBER OF BATHROOMS WAS WRONG

SHE DIDNT GIVE ME CREDIT FOR MY LAND WHICH I OWN 1.4 ACRES

SHE USED COMPARABLES THAT WERE NOT EVEN OFF THE MARKET AND HAVENT SOLD YET

IF YOU CHOOSE TO MAKE A COMPLAINT YOU CAN GET THE APPRAISER RULES THRU THE BOARD

IF THE APPRAISER IS OUT OF YOUR AREA  (WHICH BY THE WAY MINE WAS) THE BOARD SAYS THAT  IF THE APPRAISER IS OUT OF YOUR AREA, SHE HAS TO BE FAMILIAR WITH YOUR AREA   USING THE MLS DOESNT MAKE YOUR APPRAISER COMPENTENT.. 

 Well to make a long story short I too recently went  FOR A loan with HOMESAVINGS OF AMERICA.. THE STRANGE THING IS THE SAME VERY THING IS HAPPENING TO ME.. MY appraisial was done by Landsafe and guess what it came in to low.  I did some digging you can make a complaint against the appraisers .

AND YOU CAN ALSO MAKE A COMPLAINT AGAINST THE BANK..

 You know the funny thing is when I orginally bought this property I couldnt say to the bank only two bedrooms because this is a bi level.

I INTENT TO FILE A COMPLAINT AGAINST THE APPRAISER AND LANDSAFE..  BY THE WAY LANDSAFE ONLY PAYS THE APPRAISER $130 DOLLARS TO APPRAISE YOUR PROPERTY .. SO YOU HAVE TO WONDER WHERE THE REST WENT.. THE BANK MAYBE??

YOU CAN ALSO GO TO YOUR PROPERTY TAX APPRAISER WHICH IS WHERE I GOT THE MOST RECENT COMPARABLES ON MY PROPERTY AND GUESS WHAT MY PROPERTY SHOULD OF WENT THRU

I'M ALSO GOING TO GO TO MY LAWYER FOR MY MONEY BACK

I HOPE YOU GET YOUR MONEY BACK.. GOOD LUCK..