• Report: #1035122
Complaint Review:

Quicken Loans

  • Submitted: Fri, March 15, 2013
  • Updated: Fri, March 15, 2013

  • Reported By: Jcorcpa — Boston Massachusetts
Quicken Loans
Internet United States of America

Quicken Loans Overcharging my escrow account, Internet

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I refinanced with Quicken in late 2012, and had no issues until this year when they calculated my monthly escrow deposit based upon an inflated quarterly payment. It was inflated because my home was a new construction home, and the city dragged their feet to reassess the property with the building on it.

I sent a copy of the real estate tax bill that shows the actual real estate tax for the fiscal year, of which the escrow should be calculated on, but that was not sufficient. I offered to make a deposit into the escrow account and have them adjust my monthly payment so that it'd be based on the actual annual tax and they would not adjust. The customer service team was no help. I spent hours on the phone and got nowhere.

They are able to overcharge me and I can NOT make a payment of the amount of the bill without dinging my credit, so I'm forced to make an inflated monthly payment. I can afford the payment but it's the principle. My money would be best served in my hands to pay other bills, not to sit in an escrow account earning zero interest. I'm disgusted with the entire company, and feel like I'm being robbed. I would stayed away. The customer service team is full of incompetent people.

This report was posted on Ripoff Report on 03/15/2013 05:02 PM and is a permanent record located here: http://www.ripoffreport.com/reports/quicken-loans/internet/quicken-loans-overcharging-my-escrow-account-internet-1035122. 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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