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Quicken Loans / deceitful sales tactics

1 20555 Victor ParkwayLivonia, MI, United States Review updated:
Contact information:
Phone: 7348055000

Push sales people convince you into something after you say no, the costs are too high essentially insuring that the loan is an excellent idea and you would be crazy not to do it. He also claimed to have checked county housing trends and comparables to be able to assure me that we had plenty of equity to do it. The deposit is not disclosed until you agree to do the loan and it is "a commitment to do business" and "will be refunded at closing". He neglected to state that if the appraisal (which was not supposed to be a problem) did not come in high enough we would lose the deposit. He also neglected to say that 2 appraisals would be required. Turns out the second appraisal was too low and we lost nearly $500 (a small amount was refunded as he did not tell us upfront about the 2nd appraisal). Overall, had he provided honest, complete information up front, I would never have started the process and would have saved a lot of money and headaches. Unfortunately, it appears that they provide incomplete and inaccurate information to get people to agree, even on loans that may not go through as with the deposit, even though some will not they are not out that much money and they make money on each one that squeeks through. I would stay as far away from this company as possible.

Ka
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Comments

  • Hi
      12th of Apr, 2010
    0 Votes

    file complaint with state ins dept.

    you will win

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