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Quicken Loans / ripped off

1 United States Review updated:
Contact information:

We applied for a refinance and were turned down getting some story about the house depreciating and a problem with the appraisal. I was never told I would loose my $400 deposit, never!!! Now I am charged $325 for the appraisal and get a little over $65 back. Ripoff by a bunch of liars.. High pressure to get my money, then lie about it all!!!

I will definately be filing a complaint with the attorney generals office.

The people who talked to me originally would not return my calls, I found out on the website there was a problem!!!

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Comments

  • Qu
      3rd of Sep, 2009
    0 Votes

    Hi, I'm Kelly with Quicken Loans. I'm sorry to hear you feel that way and I'd like to try to help.

    I'm sorry that your banker may have not explained your deposit to you. However, the application you signed fully included an explanation of what the deposit is for. Specifically, it's referenced on the document entitled "Interest Rate Disclosure & Deposit Agreement". It's also available on our website for anyone to see: https://www.quickenloans.com/about/quicken-loans-deposit

    And the "story" you got about depreciating values is not made up. Historically, real estate does appreciate very well. But changes in the economy over the last couple years have changed that - it's widely known that home values have dropped across the country. This is nothing we can control - we hire unbiased, 3rd party appraisers so that we always obtain a fair value for your home. I'm sorry this didn't come in where we needed it, but there is simply nothing we can do to change that.

    I'd be happy to look into this further if you have questions. You can reach me directly at Kelly@QuickenLoans.com

  • Bu
      4th of Nov, 2009
    0 Votes

    The same thing just happened to us but we had to give a $500 deposit. We were in NO WAY told that it was contigent upon a home inspection!!! We only bought the house 2 years ago and knew we didn't have the equity from speaking to other companies in the past when the rates dropped. We were told we were approved and the deposit was the next step in securing our loan. We were refunded the difference from paying the home appraiser. I am actually off to call him now because I feel we were completely scammed. I will be filing a complaint with the BBB and whoever else I can. We are on one income and I'm a SAHM so refinancing was very important to us and we didn't have the $300+ to flush down the toilet. I am so upset about this :(

  • Jo
      17th of Aug, 2011
    0 Votes

    I have gone the the Sates Attorney, the FTC, the Governer, will be filing with the BBB, will be filing complaints with other resources

    The US Government needs to do something with Quicken loans

    i was ripped off of $500.00 and because of principal, I want it back, they are a rip off company

    I encourage everyone to file a complaint with you states attorney to get the legal prceedings going agaist Quicken loans

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