ED Magedson – Founder
Quicken Loans1050 Woodward Avenue Detroit, Michigan USA
Quicken Loans Won't refund my extra month's payment after a re-finance! Detroit Michigan
Be Ready to not refinance if you are a Quicken Customer!
Quicken is a great company while you are their customer. Once you refinance, you are at Lord's mercy. After having quicken as my mortgage company for a year, I decided to refinance. My escrow company paid off the loan in full. However, I had an automatic monthly payment set up for Quicken mortgage payments and that withdrew an extra's month's worth of mortgage payment (Over and above the payoff amount). I called Quicken and asked them to refund that the next day of this extra payment. This is what they said - We take up to 3 weeks to settle your closed loan and send any applicable refund. I tried explaining to them how this extra payment was NOT part of the escrow settlement and should be refunded promptly. But to no avail
Now 3 weeks have passed. They sent me the settlement check but still no refund for the extra month's payment. I called again yesterday and was told to wait till the end of this month before I will hear back from them. Really??? Is this how you will treat your ex-customers? Do you think pissing them off and giving financial hardships is good business practice? I don't think so!
So beware! They are good mortgage company as long as you are their current customer. Once you refinance and leave them, you are on your own!
This report was posted on Ripoff Report on 05/24/2013 11:33 AM and is a permanent record located here: http://www.ripoffreport.com/reports/quicken-loans/detroit-michigan-48226/quicken-loans-wont-refund-my-extra-months-payment-after-a-re-finance-detroit-michigan-1053610. 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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