ED Magedson – Founder
Quicken Loans1050 Woodward Ave Detroit, Michigan USA
Quicken Loans $350 'Credit Fix' Scam Detroit Michigan
I spoke with Quicken to refinance my home believing they were a reputable lender. Before even taking my application, they pressured me into signing up for their $350 credit repair program promising me easier approver and a better interest rate. They said it was refundable. They did not refund my money.
After signing up for this program and providing them with my financial information, I almost immediately realized my problem. I was transferred between three credit specialists and they recommended that I pay down my two small credit cards (under $1000) to improve my score. I was a little baffled. That was it? I paid $350 to be told to pay down to cards to 50% balance. When I asked them why is costs $350 for that stellar advice, they simply explained how the credit game worked. I asked for a refund stating that this information is common sense and nowhere worth $350 dollars. I was shuffled around several times between the three specialists and the 30-day trial was almost over. I was finally transferred to a so-called manager who never answered the phone. I left voice mails and he never called back. And, the 30 day free trial had ended and as far as I got with a refund was a non-existant manager. I was able to track down another person to speak to who said my problems were handled by another department, again, back to one of the specialists I talked to earlier, and finally once again to the non-existant manager voice mail. I sent a letter to the company, I never got a response back. I am curious how they get away with this behavior.
I complained to a few co-workers and one co-worker had an unrelated complaint about Quicken where Quicken tried to tack on $4000 worth of fees to a refi, half of the fees the broker didn't know what they were. My co-wroker had the sense to walk away from Quicken at the table. He also closed with a different bank with less fees.
In the mean time, my current mortgage lender offered me a refinance at a much better rate and we took care of business. I'm from the Detroit area, and apparently Quicken does not seem to be resputable lender they claim to be.
This report was posted on Ripoff Report on 11/19/2013 06:37 AM and is a permanent record located here: http://www.ripoffreport.com/reports/quicken-loans/detroit-michigan-48226/quicken-loans-350-credit-fix-scam-detroit-michigan-1100543. 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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