ED Magedson – Founder
Quicken Loans1050 Woodward Avenue Detroit, MI 48226 Detroit, MI, Michigan USA
Quicken Loans Unprofessional Company - Money Rip-off !!! BEWARE !!! Detroit, MI Michigan
Company is set up apparently to rip off the consumer. They have a few tactics to do so it seems.
One huge tactic is ot not approve the loan after the consumer pays for an appraisal. QL can terminate the loan for an appraisal that does not meet criteria or their standards, etc. for any reason, and they have a clause that states they can choose to not refund your money, EVEN IF, in our case, the appraiser could not do their job - IE: they could not find comps in our area for our property/residence. !!! so we were denied and we did not get our refund on the appraisal. We tried again, and again, to refund.
I have gone back a 3rd. time to try and get this loan which there is no reason for it not to be funded, and now they will not accept the previous appraisals, my realtor had no issues finding comps. that also, and are requesting we pay QL again for a 3rd. appraisal, (these have all been done in a timely manner as well), ... and now are also requestion further funds in my bank account... ??? That was it for me.
With every turn around as well, the loan has been stalled out. They needed a document, they were given detailed information as to remedy this, and they never followed through, the loan process was passed to not 3, but 5 different people, none knowing what any of the others were doing, that amazed me !!! really. ... therefore I refused answeing phone calls any longer from any of their reps' - very confusing and went straight to emails to document the entire escapade and also to try and get a handle on what exactly was needed, throughout the process of also being very ill. This has been going on for months, way back in Nov. 2013. Today in my email I see they have now cancelled my loan and are referring me to something like "customer solutions" ??? who knows. This entire event has been stressful, they have not followed through with what "they" requested, and do not answer my questions, complete refusal when i asked if there was any more surprises, or requests for more monies, etc. Absolutely no answer. We really need to get this loan funded, and that is why i presisited, at first, then it became apparent what they were doing, ... therefore i continued to try and follow through with them via emails to document. It presents very badly. Consumers need to beware.
It appears they stall out the loans with whatever they can use, and also request monies as well, and then do not fund the loans. Easy loans too, as our is not "rocket science" and a small loan. Very distressing and for me with my illness and disabilities, ... very stressful. Being patient and watching their responses, and lack thereof responses, really annoying and highly unprofessional. The Better Business Bureau will be contacted as well, and any other entity I find that this can be reported too, as now time has been lost as well, 4 mos. a huge amount of phone calls for no reason, letters for the loan guarantee, yet there was consistantly one more thing, one other thing, ... more and more, no follow thru by them, ...and no questions answered. Then they tell me I have not followed through with everything, yep, they will get no more money. So we are cancelled now.
This report was posted on Ripoff Report on 02/17/2014 12:52 PM and is a permanent record located here: http://www.ripoffreport.com/r/Quicken-Loans/Detroit-MI-Michigan-48226/Quicken-Loans-Unprofessional-Company-Money-Rip-off-BEWARE-Detroit-MI-Michigan-1124206. 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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