Complaint Review: Quicken Loans - Livonia Michigan
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- Quicken Loans Quickenloans.com Livonia, Michigan U.S.A.
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- Category: Credit Services
Quicken Loans I am another victim of Quicken Loans scam/ripoff against consumers. Livonia Michigan
*Consumer Suggestion: Quicken Bait and Switch Predatory Lending Stay Away
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I foolishly belived Quicken Loans to be reputable because of their association with SalliMae (Student Loans). Because my history with SalliMae has been positive, I did not think Sallimae would endorse/lend their name to a Company committing fraud upon the public. I was so wrong!
I am a first time homebuyer shopping for my first home-mortgage. My representative at Quicken was Nicolas Tomas. He seemed personable and assured me that based on my credit rating, job history etc., obtaining a home loan would not be problematic. Maybe I should have sensed a scam when he asked for a $500.00, good-faith deposit. I did ask plenty of question but was mislead into believing the deposit would either be applied to closing cost or refunded (in the event the loan was not funded).
At the outset, all the documentation, verifications and proof required was submitted. Nicolas called frequently to check on the progress of my house-hunt. Despite his lack of knowlege of the California real estate market (the low estimate for property taxes in the GFE was unreal) I felt so optimistic closing on my dream house would be uneventful. Again, I was so wrong!
During escrow was the first time he bothered to ask the property's zip code. Guess what he said -- "DECLINING MARKET we didn't know. You'll need an additional $5,000 to close. Can you get it from your retirement account?"
I really loved the house so I found the additional $5,000. Then guess what he said -- "Your income did not check out." My response: How could my income be a problem at this point...I work for the State. I've given you pay stubs, tax records, you've verified my existence with my employer for God sake. He knew that wouldn't work so he went back to "Declining Market and we need an additional $7,000" (that makes $12,000). My response: This is a bait and switch... refund my $500.00. Nicolas said he would send my request to their accounting department. I expected a prompt refund. Again, I was so wrong!
Initially My credit card company reversed the transaction and credited my account. However, Quicken re-charged the account for $500.00. How can they justify taking money this way? Something has to be done. Anybody know a good class-action attorney?
Anonymous
Oakland, California
U.S.A.
This report was posted on Ripoff Report on 04/07/2008 11:50 AM and is a permanent record located here: https://www.ripoffreport.com/reports/quicken-loans/livonia-michigan/quicken-loans-i-am-another-victim-of-quicken-loans-scamripoff-against-consumers-livonia-324283. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#1 Consumer Suggestion
Quicken Bait and Switch Predatory Lending Stay Away
AUTHOR: Kurt - (U.S.A.)
SUBMITTED: Friday, April 11, 2008
Quicken Loans how to avoid problems and get you money back!!!
What to do when you have problems with Quicken Loans!!
Please follow these steps to resolve problems at Quicken Loans:
1. Contact the Banking department of your state where they have licence to operate
2. Report them with the better business bureau at bbb.org
3. Send a letter to their CEO and avoid the Directors and Bankers. Go above their heads right to Client relations or the CEO and tell them you were lied to
4. Threaten to take them to a small claims court.
5. Contact your state attorney generals office and file a complaint, just google 'attorney general state of michigan' and you can complete the complaint on line.
6. Call your credit card company and dipute the charge.
7. Demand them to listen to the call clip -- ALL CALLS are recorded
8. Contact the Banking department of your state where they have licence to operate:
Detroit Alliance for Fair Banking
76 Lothrop
Detroit, MI 48202
(313) 871-9050
9. I would personally email Tom Walsh from the local Detroit paper.
10. Complain to local tv stations and consumer protection agencies for the state and county.
11. Contact Teresa Drexler at NKA at 612.256.3268. They are in the beginning stages of a class action law suit against Quicken Loans about this very thing, bait and switching loans, not disclosing fees etc. If the APR that they quoted you is more than 1/8th off - they HAVE to get you all new paperwork. They are excited to hear from you.
12. Demand to see the invoice from the appraiser and demand the difference back. And do NOT pay for any QLSS or any other junk fee. Screw it, call the appraiser direct and ask for a copy of the invoice.
13. Tell your friends and family not to do business with them.
14. All of this will not cost you a penny and in most cases you will get your money fully refunded.
15. Predatory Lending HOT Line - 1-800-SOLVE88 for the state of Michigan.
Also file a complaint with the FTC
http://www.ftc.gov/ Make sure you complain with this Government Agency and they will investigate Quicken Loans as the database grows with complaints.
Other Contacts to complain to about Quicken Loans!!!
FBI Contacts: Search the website
Neil Power, Chief of the FBI economic crimes unit
Bill Carter, an FBI spokesman
Kenneth Kaiser, FBI assistant director for the Criminal Investigative Division
The Securities and Exchange Commission
More places to file a complaint about Quicken Loans
Office of the Comptroller of the Currency
http://www.occ.treas.gov
Customer Assistance Group
1301 McKinney Street
Suite 3450
Houston, TX 77010
FAX: 713-336-4301
Federal Reserve Board
www.federalreserve.gov
Board of Governors of the Federal Reserve System
Division of Consumer and Community Affairs
20th and C Streets, NW, Stop 801
Washington, DC 20551
(202) 452-3693
Americans for Fairness in Lending
http://www.affil.org/get_active/complaint.php?gclid=CJ3E6aaR5ZECFQGysgodxFRRew
Thank you
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