QUICK LOAN FUNDING - ED Hueward ripoff, Under Appraised property after taking $475.00 for Appraisal Fee with no refund IRVINE California

The appraiser has go inside your house for a complete appraisal review. If he only did a "drive-by" this would only cost about $200, and it would not be 100% accurate. $475 is about $100 over what people are paying for appraisals in California, but if they informed you of this there's nothing you can do about it. Any broker in California should let you use your own appraiser, even if you have an appraisal that's less than 4 months old you can use it. I doubt that they just wanted to rip you off for the $475 dollars, the L.O. definitely wants to close as many loans as possible (he's probably working on a commission only pay, and he's not getting paid for the appraisal). The appraisal is legally your's to keep, and you can take it to a different lender. I would ask to talk to the manager for you loan officer over at Quick Loan Funding.

The appraiser has go inside your house for a complete appraisal review. If he only did a "drive-by" this would only cost about $200, and it would not be 100% accurate. $475 is about $100 over what people are paying for appraisals in California, but if they informed you of this there's nothing you can do about it. Any broker in California should let you use your own appraiser, even if you have an appraisal that's less than 4 months old you can use it. I doubt that they just wanted to rip you off for the $475 dollars, the L.O. definitely wants to close as many loans as possible (he's probably working on a commission only pay, and he's not getting paid for the appraisal). The appraisal is legally your's to keep, and you can take it to a different lender. I would ask to talk to the manager for you loan officer over at Quick Loan Funding.

The appraiser has go inside your house for a complete appraisal review. If he only did a "drive-by" this would only cost about $200, and it would not be 100% accurate. $475 is about $100 over what people are paying for appraisals in California, but if they informed you of this there's nothing you can do about it. Any broker in California should let you use your own appraiser, even if you have an appraisal that's less than 4 months old you can use it. I doubt that they just wanted to rip you off for the $475 dollars, the L.O. definitely wants to close as many loans as possible (he's probably working on a commission only pay, and he's not getting paid for the appraisal). The appraisal is legally your's to keep, and you can take it to a different lender. I would ask to talk to the manager for you loan officer over at Quick Loan Funding.

The appraiser has go inside your house for a complete appraisal review. If he only did a "drive-by" this would only cost about $200, and it would not be 100% accurate. $475 is about $100 over what people are paying for appraisals in California, but if they informed you of this there's nothing you can do about it. Any broker in California should let you use your own appraiser, even if you have an appraisal that's less than 4 months old you can use it. I doubt that they just wanted to rip you off for the $475 dollars, the L.O. definitely wants to close as many loans as possible (he's probably working on a commission only pay, and he's not getting paid for the appraisal). The appraisal is legally your's to keep, and you can take it to a different lender. I would ask to talk to the manager for you loan officer over at Quick Loan Funding.

The appraisal fee does seem excessive, but you did agree to it. In Arizona you can hire your own appraiser, I am not sure about California. It sounds like this is a predator lender, or the loan agent was acting like a preadator.

By law (at least in AZ-not sure about CA)you have a right to a copy of the appraisal, essentially it is yours. This is probably your only out. You can file a claim in small claims court (and I would name Quick Loans as a secondary defendant). Your arguement should be along the lines you paid for an appraisal, and never received. As far as you know the appraisal never even happen. I would avoid the negative opinion that you rightfully have about Quick Loans. This will only muddy the waters, and the judge just might give up. Focus on not getting the appraisal. State you want your money back, not a copy of the appraisal because it is no longer valid (the judge may rule to just give you a copy of the appraisal).

The appraisal may be accurate. Consider the condition of your house compared to others. I recently had a phone appraisal done, and it was about $35K off of what I thought. Then they did an actual walk through. My upgrades are above most of my neighboring homes. Remember these are just neighborhood averages. If he just did a drive by appraisal, and lets say the outside needed to be painted he might assume the inside is in disrepair. Probably not true, and I don't mean to say this to offend you-just telling you how they think. Sometimes your neighbors homes can impact your appraisal too.

You may also want to file a complaint with the CA Attorney General and Banking Commission for predatory lending activity against Quick Loans.

Best of luck!