Complaint Review: Quicken Loans - Michigan
- Quicken Loans Michigan USA
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- Category: Veterinarian Services
Quicken Loans lowballed my house with TSI appraisal. improper comps causing undervalue to my home Michigan
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I have had the same problem with Quicken Loans using TSI appraiser. I was asked to put up deposit money to pay for the appraiser, and that I would get it back at closing. However, I did not anticipate the appraiser lowballing my house! I looked at the report to find out that the comps used were nothing like my house. I have a colonial style house and he used two ranch style homes with square footage that was significantly lower than my home. One ranch home was 1414 sq. feet and my home is over 2,000 sq. feet. I asked him why he did not use homes similar to mine, and he stated that the lender wanted him to use properties that soldin the last 90 days. I asked him why he didn't go outside my neighborhood to get a better comparison, and he stated again that he was doing what the lender wanted.
I was told with the new laws that lender and appraisers are not to communicate, but I am thinking that something fishy is going on and I chose to cancel my refi.
I put a lot of hard work and money into my house to have an appraiser lowball it 14,000 less than I paid for it!
MY house could sell for more than I paid for and I even sent comps from other companies for proof, but Quicken says they can not do anything and the appraiser said he has to go by recent sales even if the comps are not like my house!
Totally wrong!
This report was posted on Ripoff Report on 05/05/2014 04:37 PM and is a permanent record located here: https://www.ripoffreport.com/reports/quicken-loans/michigan/quicken-loans-lowballed-my-house-with-tsi-appraisal-improper-comps-causing-undervalue-to-1144256. 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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