Quicken Loans Harpooned the Right Whale for $750 ripoff Livonia Michigan

What man?

i will admit it is deceptive since you have no intention of closing the loan, but why give them 750 bucks for doing nothing. The appraisals only cost 275-300, don't let them pocket your hard earned money.

By law they have to return you the money. Best kept secret in the industry.

They don't like complaints on the better business bureau website either, go there and they will refund at least the money lest the appraisal charge of around 350 or so (unless you are in alaska or hawaii)

Good luck man, I know how their system works. They make a lot of money off a lot of people. They try to please as many people as they can that are doing a loan with them but the second you say, "no thanks" you are no longer getting excellent service. That is why so many people either love or hate, those that hate are the ones that decided to go somewhere else. Then quicken isn't friendly.

I don't think it is deception though man. You can change your mind and not do the loan after closing. You get the full 750 back even if they used money for an appraisal, they have to refund that too.

Pete, the loan was approved. Given the slight payment advantage it provided over my existing loan, and given that these people were so eager to take my $750 and hold me hostage, I decided not to hop into bed with this company for upwards of 30 years.

Mike, I'm positive this was really Quicken loans.
Brian, you are right we should run from monkeys like this. What they did to me will hurt for a while. We should also run from disappointment and bitterness. May I be able to take my own advise.

Robert, your plan is brilliant but deceptive. As long as we regard deception and greed in business (or anywhere else) as normal we are no better than the company I'm complaining about.

You don't have to pay a penny. BY LAW if you go through with the loan and close on it, you have a 3 day right to rescind. After you close, just rescind on the loan, then they have to give you back all they money you gave them.

I used to work there, and that is the law in America. Pretty simple. You get every penny back, if you want to email me you can. Just post your email and I'll email you or something

You don't have to pay a penny. BY LAW if you go through with the loan and close on it, you have a 3 day right to rescind. After you close, just rescind on the loan, then they have to give you back all they money you gave them.

I used to work there, and that is the law in America. Pretty simple. You get every penny back, if you want to email me you can. Just post your email and I'll email you or something

You don't have to pay a penny. BY LAW if you go through with the loan and close on it, you have a 3 day right to rescind. After you close, just rescind on the loan, then they have to give you back all they money you gave them.

I used to work there, and that is the law in America. Pretty simple. You get every penny back, if you want to email me you can. Just post your email and I'll email you or something

You don't have to pay a penny. BY LAW if you go through with the loan and close on it, you have a 3 day right to rescind. After you close, just rescind on the loan, then they have to give you back all they money you gave them.

I used to work there, and that is the law in America. Pretty simple. You get every penny back, if you want to email me you can. Just post your email and I'll email you or something

Looks like they got you Larry, you need to read my other postings. If 462 people who worked for the company can't get paid, then what makes you think you will get your money back?
They teach us to go after FISH like you. Quicken has a 1000 of so-called MORTGAGE BANKERS (pure joke) doing this to people like you everyday. How do you think DAN GILBERT became a billionair and owns the sorry a** CLEVELAND CAV'S (they suck by the way and will NEVER win a RING). GO PISTONS! They care NOTHING about the clients best means. They only care about the GREEN BAR (which is what they over charge you - an inside term)
I wish you luck on proving your case and hope other people learn about the way they do business and treat their employees.
People worked for 70 to 80 hours and only was paid for 40 hours, and they will pick and choose who to pay commission - you have to close like 10 loans to even get a pay check. Classic SWEAT SHOP.

What happened to you was called a fee in advance loan and I'm sure it wasn't actually Quicken loans, but a sham company using their name.

To Pete the "mortgage broker". all fee in advance loans are scams. Any company asking for a fee in advance of a loan is a scam company as it is an illegal practicve. The contact names aren't real, the numbers will be disconnected as soon as they start feeling the heat. You as a "mortgage broker" should know that.

I am NOT AN EMPOLYEE OF QUICKEN LOANS. I WAS a mortgage broker, though. Let me first ask this; why did the loan not go through? Was it denied due to credit issues, appraisal issues, past credit issues? I used to write loans that I knew had little to no chance, but my boss could "push" to get done. Teaser rates were quoted, low costs were too. BUT...once the deal was bought by a lender (usually at a higher rate or at the cost of buying points by the customer) the figures changed. It was easy to explain the change because we never pulled credit reports until before we sent the loan to a lender. That way, we could always place the blame on the customer. We NEVER quoted a full good faith estimate either. You just need to keep that in mind. We always left out origination fees, broker fees, etc. Customers saw those full, accurate numbers at closing on the HUD statement. I would call Quicken Loans to find out exactly why. If no services were provided, and nothing was done or paid for on your behalf, they should give you back your $750. Just some thoughts.

P.S. I lost a lot of deals to Quicken as well as other direct lenders. They always beat our fees, time to close the loan, and ease of working a deal. Professionally, I HATED that. Personally, I NEVER got mad at a customer who made the smart move. That's why I left the business and went back to advertising.