- Report: #609290
Report - Rebuttal - Arbitrate
Complaint Review: QUICKEN LOANS - quickenloans.com
QUICKEN LOANS - quickenloans.com20555 Victor Parkway Livonia, Michigan United States of America
QUICKEN LOANS - quickenloans.com Christine McIntyre Liers and cheaters united to a common cause... Rip off the american public. Livonia, Michigan
*Consumer Comment: Please Report This To...
*REBUTTAL Individual responds: Wow
*UPDATE Employee: Response from Quicken Loans
As with every other complaint that I have read it all started out ok. Christine was very nice, only slightly pushy. But I "must" give them my credit card info so I can "lock" in my interest rate. I understood that once I gave them my credit card info a refund would be next to impossible to get. I was worried about my appraised value coming in low, being denied the loan and then losing the deposit. Before I gave in and moved forward with this I called and asked if my appraisal came in low would I still qualify for the loan. What I was told was "yes and no. Yes it matters if the holder of your second mortgage refuses to subordinate and we have to combine the 1st and 2nd into a FHA loan and then we have to come it at 80% loan to value. And no because the Making Home Affordable program is designed for homeowners who's homes have recently lost value." That statement has been recorded by Quicken and the client services member Michelle reviewed the tapes and told me that was what was said. She refuses to let me hear the tapes to confirm it myself. But I hardly see how it matters. I was told that the type of loan was meant just for low values. I did not realize I was supposed to grill the loan officer until she gave me the correct answer. I had no way of knowing she gave me the incorrect answer. When I asked the client services member the exact same question her reply was "of course it matters" How do two people at the same company come up with two completely different answers for the same question? Somebody is either withholding pertinent information, uniformed, or simply lying.
I asked Michelle why Christine didn't tell me what value my home had to come in at for the loan to go through. I also asked why I wasn't informed of the the "loan to value" required for the loan. I was basically told that those are questions I should have asked the loan officer at the time. So, I didn't ask the right questions. My problem is that I did ask. I didn't phrase it exactly like that but the question was asked. It is the loan providers responsibility to provide information to the client so they can make an informed decision. Given the question that I asked and the answer that I was given I assumed I was making an informed decision. Obviously this was not the case, one can not make an informed decision if the information they receive is false. These figures were not disclosed in the beginning. I was only made aware of these figures after the third phone call with client services arguing over the deposit.
Their argument is that the contract was signed, therefore I have no recourse. It doesn't matter what was said or what was implied, the contract was signed. Even though the contract was signed under false information on their part. I am still out of my money. Now, if I was to provide false information on the application I would be held accountable, but apparently they are immune from such basics of good business.
Basically they can tell you whatever they want to get you to sign the contract then they have you by the balls and there is nothing whatsoever that you can do about it. I have dealt with them one on one, I have gone through the BBB, but there is nothing I can do. So I will just keep on posting complaints and hopefully I can prevent someone else from being ripped off.
This report was posted on Ripoff Report on 06/01/2010 08:25 PM and is a permanent record located here: http://www.ripoffreport.com/r/QUICKEN-LOANS-quickenloanscom/Livonia-Michigan-48152/QUICKEN-LOANS-quickenloanscom-Christine-McIntyre-Liers-and-cheaters-united-to-a-common-609290. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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