ED Magedson – Founder
Quicken Loans Rejected for loan despite incontrovertible evidence of my status and ripped off for $500 deposit Detroit Michigan
I applied for a refinance with Quicken. Upon talking with them, i was assured that given my credit scores (800), income and job history, thngs would proceed smoothly. Feeling assured, I provided the $500 they requested. After approx 3 wks, I was informed that the underwriting dept. had determined the property in question was not my primary address. Because I reside at the property for a minimum of 320 days per year, I disputed this finding. (I rent the house for 45 days per year to Canadians seeking warmer climes). I provided *incontrovertible evidence* of my presence in the house for 10.5 months per year....including bank statements, utilitiy bills showing me as the resident and responsible party, bank checks and driver's license showing the same. They would not reconsider. I now find out that the loan has been denied and they are keeping my $500 dep.
Nice racket these folks have going. Let anyone considering Quicken for a loan beware. It's been a terrible and costly experience
This report was posted on Ripoff Report on 03/25/2014 12:00 PM and is a permanent record located here: http://www.ripoffreport.com/reports/quicken-loans/detroit-michigan-48226/quicken-loans-rejected-for-loan-despite-incontrovertible-evidence-of-my-status-and-ripped-1133501. 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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