Quicken Loans, Inc. Engineered to Rip You Off. Nationwide

I was applying for refinancing with Quicken Loans, Inc via HARP on-line to reduce my mortgage rate and thus lower my monthly mortgage payment.

Quicken Loans, Inc. has incompetent employees from top to bottom.  This is probably established purposely.  They will lure you in with their very attractive and convincing initial Good Faith Estimate they called "Here's How Your Number Works".  The Good Faith Estimate is given to their clients after the initial screening, and taking the credit score, technique of winning your interest.  They will then instruct their client to registered on-line (MyQL.com) for monitoring the progress of your loan purposes.  Then, somebody will call you from other state to let you know they need more documents.  After the second contact, they will tell the client the loan is close to closing.  They will review your documents and after a day or two, they will tell you Your loan is approved with some condition.  At this point, the second Good Faith Estimate will be different from the first one.  This time, the estimate will be bit different from the first and will be to their favor but still acceptable.  This is when they will asked you for a deposit to perfrom an appraisal on your property.  In my case it was $500.00.  A TSI (Title Source, Inc) will contact you to perfrom an appraisal.  Beware of TSI and Quicken Loans, Inc.  TSI will give you a inaccurate appraisal for Quicken Loans to have an excuse to change the Good Faith Estimate.  In my case, the living space square footage was incorrect, and the cost per square footage was no where near their given comparables.  I questioned TSI about these concerns and I was told to take it up to Quicken Loans.  It is now finger pointing.  At the same time, the Good Faith Estimate for you to review on the MyQL.com will really be against you.  A large amount of cash will be required upon closing.  From the first Estimate of getting a couple hundred back, to second Estimate of a couple of hundred dollars required in closing, to third Estimate of almost $10,000 is required upon closing in my case.

I questioned all these shady procedures.  Since, I found a holes on their TSI appraisal and raised hell about it, this time a Solution Consultant department from another state contacted me.  Now, the issue is not the appraisal but something else why  I can't go through closing, they said.  This time they said, the subject property for refinancing was found by TSI to be in an Active 55 year old Community Development.  I was told, For them to continue with the loan process, I should be occupying the property physically.  They also said, "it is against the federal law for them to approved my loan if not I am living in the property.  Except for not living in my property and classified it as investment property which I was asked and I answered, This federal law, if there was such a law, was not revealed or asked from me during the INITIAL screening and during the exchanges of documents for at least a couple of weeks.  It was only revealed to me after they got my $500.00 deposit for appraisal.

I disputed it, and requested for my full deposit back.  The QLI Solution Consultant did not agree for all my deposit back but instead willing to split my deposit since they claimed they paid more than $500.oo on appraisal.  Since, they were holding my monies as hostage, I then agreed with the condition to include such questionaire during the initial screening to prevent such occurence of happening again.  I doubt it if they will include such questionare.

In summary, Quicken Loans, Inc. is a WANNA BE ENGINEERED TO AMAZE company.  They are out there to get your money, small or large amount.  The client contact were so many and very confusing.  I should be entiitled for full refund of my deposit because I was not asked as to my property in a Active 55 year old Community Development.  TSI is another fraud out there, too.  These two company were working hand-in-hand for one goal, get your money to their favor.