Report: #1049644

Complaint Review: Quicken Loans

  • Submitted: Thu, May 09, 2013
  • Updated: Thu, May 09, 2013
  • Reported By: M L — Mandeville Louisiana
  • Quicken Loans
    Quicken Loans - Arizona 16425 North Pima Suite
    Internet
    USA

Quicken Loans I informed Mr. Dan Munson, " Team Captain " of Quicken Loans that I had been through refinancing attempts before twice, and did not want to continue unless my application was approved subject to an appraisal, as I knew that the property values were more than enough to qualifiy for a refinance, as I am in the design & construction business and that the mortgage banking regulations would not refinance because I had shown enough income the last two years. I went through the application process only because he assured me that the rules had changed and after receiving my financial information and that everything was approved subject to an appraisal. I then gave him my credit card to use to order an appraisal. They took $1000.00 from my credit card and then came back and said they did'nt approve of the zoning, and that one of the my properties, a rental duplex, only appraised for less than the mortage on it now. This property is only 6 years old and has been rented since it was built. A rental property is only worth what it will earn in rents and I was told that they could'nt find any duplex properties to use for comparables. One of the reasons I have a high credit score is because I earn more than enough money to pay my bills due to the rent collected from my properties. My two present mortgage lenders have not had any problems with my zoning as it has been the same since they funded the loans 6 years ago. It is obvious that the rules have not changed and Quicken Loans is nothing but a scam to collect fees by taking advantage of people ignorance of the regulations, and desparate to refinace and will string you out with phone calls by different people stating that they are working on getting everything approved and investigating the appraisals, zoning problems. Internet

Show customers why they should trust your business over your competitors...

Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

I informed Mr. Dan Munson, " Team Captain " of Quicken Loans that I had been through refinancing attempts before twice, and did not want to continue unless my application was approved subject to an appraisal, as I knew that the property values were more than enough to qualifiy for a refinance, as I am in the design & construction business and that the mortgage banking regulations would not refinance because I had shown enough income the last two years.

I went through the application process only because he assured me that the rules had changed and after receiving my financial information and that everything was approved subject to an appraisal. I then gave him my credit card to use to order an appraisal. They took $1000.00 from my credit card.

They then came back and said they did'nt approve of the zoning, and that one of the my properties, a rental duplex, only appraised for less than the mortage on it now. This property is only 6 years old and has been rented since it was built. A rental property is only worth what it will earn in rents and I was told that they could'nt find any duplex properties to use for comparables.

One of the reasons I have a high credit score is because I earn more than enough money to pay my bills due to the rent collected from my properties. My two present mortgage lenders have not had any problems with my zoning as it has been the same since they funded the loans 6 years ago.

It is obvious that the rules have not changed and Quicken Loans is nothing but a scam to collect fees by taking advantage of people ignorance of the regulations, and desparate to refinace and will string you out with phone calls by different people stating that they are working on getting everything approved and investigating the appraisals, zoning problems.

This report was posted on Ripoff Report on 05/09/2013 01:56 PM and is a permanent record located here: https://www.ripoffreport.com/reports/quicken-loans/internet/quicken-loans-i-informed-mr-dan-munson-team-captain-of-quicken-loans-that-i-had-bee-1049644. 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

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
Also a victim?
Repair Your Reputation!
Ripoff Report Recommends
ZipBooks Accounting Software

Advertisers above have met our
strict standards for business conduct.