Consumers Beware Of Quicken Loans

RE: Consumers Beware Of Quicken Loans Post By Jack S (Guest Post) (08/17/2008) I have dealt with Quicken Loans on a refinance for my home several times, and through all the complaints I've seen here, not one person admitted to their mistake of signing documents based on that "Appraisal" or whatever else you say they lied to you all about. I can almost GUARANTEE that not one of us would be on this forum had your appraisal came in high enough. It sounds like everyone on here knew their home was not going to appraise for that and probably thought Quicken had their own way of appraising and will give you a higher value for working with them, so the greed in you makes you go for it, and do NOT say you didn't know, because even if you're rushed through the phone conversation, you still have more than enough time to read your documentation. You must understand something, Quicken Loans, or any other lender are NOT the experts on the value of your home, and can only go by online valuations and comps in your area. I have done 7 loans with them in the past 6 years, and NEVER have their estimated appraisals came in low except for the last 2 years. Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post By Kahn Davison (Guest Post) (04/25/2008) What's crazy is that I was charged $500.00 and I didn't even have a house to appraise! They told me $500.00 was just for an appraisal but how can I be charged for an appraisal when I don't have a house to appraise. A big waste of time and money! Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post By Katheryn (Guest Post) (04/23/2008) Victoria, I have also sent a detailed letter along with all supporting documentation to the same agencies except for Quicken. I don't know if you have researched other sites but there are so many complaints of the same nature that someone has to put a stop to them. If you haven't been to Ripp Off Report or Pissed Consumer you should have a look. I hope that the FTC will go after them since they have already taken them to court once. Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post By Anonymous (Guest Post) (04/20/2008) Perhaps Quicken should make a couple of changes: l. Name change from "Quicken" to "Sicken" Due to all the spinning you around they do. 2. Provide prospects a "Truth in Lying" statement in lieu of a "Truth in Lending" statement Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post By Same MO (Guest Post) (04/18/2008) My husband and I went through the same experience, however, they made us jump through every hoop they could come up with including providing us with a loan "approval" letter with a few conditions that they then kept changing on a daily basis. Our horror story is posted on "pissedoff.com" I have sent letters to basically the same agencies as you and hopefully they will, again, be investigated. Hopefully, many more will also contact these agencies. Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post By Scammed-Too (Guest Post) (04/04/2008) I have similar Quicken Loan complaint. I told my broker the value of my house was $290K (twice the SEV). He said that was always wrong, so he said he would talk to real estate agents in my area. With my house info, he then came up with values between $315K to $335K. I gave him the $500 to lock in a great rate. The first appraisal came in at $275K. My broker said he would have his management try a "value appeal" loan. That didn't fly so he ordered a second appraisal. It came in at $274K. To top it off, my mortgage company says I owe $20 because of a sign-off letter for Quicken Loans. Why I don't know, since we never got past the appraisal and I told them repeatedly that everything depended on the appraisal. I've found over 20 similar complaints online. Somebody needs to do something to stop these crooks. Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post by Jantoo (751) | (03/13/2008) Contact Wow. I just heard an ad for them on local radio this a.m. I hope you notified the Better Business Bureau too. On their website, you can check any company. People need to be warned about them. Good luck to you. Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post By Kathy (Guest Post) (03/12/2008) My husband had some dealings with them also. The guy hurried him through as well and when it came down to it he used a much higher price for our house than what my husband had told him it was worth to get the payment down where we wanted it. When my husband told him that our house would not appraise that high he tried to raise the payment and DH told him to forget it. We were charged somewhere around $15. I guess we got off easy compared to you though. Bottom line is I agree - STAY AWAY FROM QUICKEN LOANS! Report Spam or Abuse RE: Consumers Beware Of Quicken Loans Post by ILuvDobes (319) | (03/12/2008) Profile | Contact Bravo Victoria! I was warned about this company by two separate mortgage brokers, I am supprised Quicken Loans is still in business since the brokers told me this was fairly well known. They could have been talking about people in the business though. Hopefully if anyone else who has fallen prey to their scam they will follow the path you are taking. I'm so sorry they "got you" and it could have happened to me. Thank goodness I was warned and I hope you "get them back." Good luck and please keep us posted. Jennifer Northern Virginia Report Spam or Abuse