- Report: #907544
Report - Rebuttal - Arbitrate
Complaint Review: Quicken Loans
Quicken Loans1050 Woodward Avenue Detroit, Michigan United States of America
Quicken Loans lie, bait and switch, or just incompetent Detroit, Michigan
1. They are either incompetent or dishonest. In my case, no estimate that they provided was even close. My monthly payments increased multiple times totaling 12% in increases during the process, and cash required at closing increased 1400%. That's no typo, one thousand and for hundred percent. You only learn of these tricks after paying their $500 fee, which makes it less cost effective to shop around at the stage you begin realizing things are not going well. This is a typical bait and switch, and very unethical.
2. They appear to twist what you report to them during initial phone conversations into what they feel would work best, ignoring the truth. Read the details they are providing in thier initial application very closely. They may lie (or are exceptionally error prone) about employment, income, or data specific to your current home or loan. Several items that I tried to get corrected multiple times were still inaccurate for me as of my closing date.
3. Advertised rates must only apply to God, or other people who would not need a loan in the first place. I have really good credit, great income and a great credit history. In short, don't think for a second that you will get the best offer available in the market from QL. I only stuck with them due to the increased costs of switching at the late stage I came to realize these things. Had I started with a different provider, I am confident the process would have cost less. I have spoken with several other providers in the last few days who all support this theory.
While parts of their process are nice, you just don't get the best quality service or offers from QL. The issues I had stem from incompetene or dishonesty. Either way, they cost you more than you should pay, and cause severe headaches along the way.
Their process makes you feel abused and dirty, and I plan to keep spreading the message above until there is some evidence that they have changed. Life is hard enough these days without having companies like QL in the mix to lie, cheat and con their way into higher profits on the backs of those people just trying to get by. We deserve better.
This report was posted on Ripoff Report on 07/06/2012 08:27 AM and is a permanent record located here: http://www.ripoffreport.com/r/Quicken-Loans/Detroit-Michigan-48226/Quicken-Loans-lie-bait-and-switch-or-just-incompetent-Detroit-Michigan-907544. 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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