Called Quicken Loans to refinance mortgage. The loan officer told me what my costs were and how much money I would receive at closing. After I put down a large hunk of money, they called me to go over the closing cost figures, and gave me a totally different figure.
Well I had a bait & switch experience too. When I 1st talked to them I was only looking to see what options I had. I told my if I could pay off certain other debts. I gave all my info and he gave me a call back "Congrats, not only can we cut your rate we can also pay off everything else you asked for!" Of course at that point I said let's proceed. When asked what I thought my home was valued at I gave a price and the guy kept trying to get me to say more but I told him I was only comfortable saying it's worth this because I don't want to be conservative until the appraisal comes back. He kept on asking over and over am I sure I don't want to say more but I said no. I was then told I had to pay $500"in good faith" for an appraisal. I did and the appraisal came in a few thousand more than what I said I thought it was worth so I thought we were good. All the sudden all the terms online changed and not only would I not be able to pay off one of my extra debts I would not be able to pay off any of them. My agent claimed it was because the house came in lower than expected, which I said was wrong because it came in for more than what I stated I thought it was worth. Then I also noticed my original loan quotes closing costs went from $4K to now close to $7K. When I asked why this happened I once again was told "well the appraisal came in lower" which really is no excuse as to why their closing costs went up by over 50%. I then said I am backing out and want them to legally release the appraisal to me so I can use with other lenders or give me a refund. They stated the money is non-refundable and never gave me an answer on releasing the appraisal. Luckily for me I paid for $500 with my CC, and because they changed the terms of the loan from the terms that I agreed I filed a claim and my CC company gave me my $500 back. Quicken changed the terms of the deal on me after I paid, and made me the original offer knowing that if my home appraised for what I said it would I would not be able to do what I wanted to do, and never told me until they thought I had no other choice but to go thru with it. On top of that they restructured the deal to get more money out of me for closing than what they originally quoted, they are frauds.
Idiots request W-2's and then claim they can't verify employment there. Isn't the W-2 proof? [censored]s, delay tactics.
I have been lied to two times first was when the first payment was l was told Jan 1/2018 and now l can not get the 6231.00 from them .We closed on the 30 of Oct .l have had all can stand if this money does not show up Monday I going to my lawyer .Quickin loans is the bigist mistake I have ever made lie lie lie
I was pre approved by Nicole Taylor...found home...then denied by Dennis Charron. I have excellent credit...no debt..no credit cards...down payment...proof of income. D. Charron lied on denial letter...stating late payments..not true..debt ratio to high..not true...no debt...cant prove income...not true...very unfair
I just got done with Quicken Loans today, got ripped of $500.00, They told me I do not get it back because the loan did not go thru, because the appraised value was to low, well they should have appraised it prior to, I can tell you to the best of my knowledge they told me i was going to be refunded the $500.00 now i was told they listeded to a recored conversation and it was explained to me, I would like to hear that, Also it it legal to record a conversation without a persons consent, this company need to have the United States Goverment to investigate them
i would advise all, do not call Quicken loans, get your loan from someway else you can trust
I don't deny the truth to all the bad experiences (I have had plenty financing & closing nightmares from other lenders & experiences), but I just happened to read the review on the positive experience the user had with a representative named Darrell Winslow. My wife & I were contacted in the same way- Quicken was offering to buy us out of our current mortgage (a primary loan with a small equity line), and give us one 30 year fixed loan. We wanted that anyways, but didn't think we could refinance this soon into our loan (under 2 years!). the rates had come WAY down, and we went from 6.5% to 4.1%. There were NO closing costs, and our payment was lowered almost $200 per month as well. It really did sound too good to be true, but I swear it was the easiest closing I ever had (I've had 7 previous closings)> they sent a local rep to our house to go over all the paperwork, and answer questions for us. They also paid for the appraisal, and had a reputable local company come out to do it.
All I can say is, try to get this Darrell Winslow guy... he seems to have his sh*t together. We were extremely happy with the whole deal, and plan to use him again next time!
Don't deal with QuickenLoans! What they SAID and what they finally SHOWED me were two different things - especially regarding closing costs and the interest rate. Unfortunately, when they e-mailed the terms I apparently "eSigned" them while only trying to open and print them out. They consider this legally binding; I consider it misleading and predatory. I may be out $500 which I was TOLD was for an appraisal, but became a "Good Faith Deposit". This is a typical response:
" Quicken Loans team,
Please show him the part of the “e-sign” that explains by clicking the form he “accepts” the form.
That’s where the confusion is – I will not authorize a refund" (from Quicken.) Thanks.
I have contacted Carl Monday with Channel 19 Action News in Cleveland, OH. I hope he will help us. The representative made fraudulent statements to my husband and I. He lied for personal gain which is fraud! I will write the FTC but we will be speaking to an attorney. I will also email the person @yahoo.com. Nobody should let them get away with fraud.
Ramon Guevara is the biggest con artist at this establishment; "QUICKENLOANS"! He is not qualified to sell life insurance at a FUNERAL home... let alone fill out paperwork to refinance a mortgage!
I was supposed to have my refinance DONE 3 weeks ago! He is the SOLE hold-up on my signing... & I am still WAITING...three weeks ago "all that was needed" was a document from my insurance company & then we would schedule a closing date... he got that within a cpl hours... but according to his e-mail it takes "24 to 48 hours to review"...
Then he said he needed a tax statement, he got that immediately.. again it will take "24 to 48 hours to review"... I scanned it & e-mailed it... should only take minutes to "review"...
This process "all I need now" has repeated for 3 weeks...I followed his "all I need now" with "are you sure this time"?
Ramon could have told me on DAY 1 ALL THE DOCUMENTS NEEDED UP FRONT to avoid the HOLD UP NOW...I was told last Friday they have everything & we will probably sign this week, TODAY(8/10/2010) he informed me I need to send him proof, that I do not have any liens...
Why didn't he say that LAST WEEK??? BEFORE HE TOLD ME WE WOULD CLOSE THIS WEEK???? he must be under the influence of drugs or alcohol... how can anyone be so screwed up??
I paid him $500 already he can do all the searches he wants... liens are PUBLIC information... it would show up on my credit report, it would show up on a bank check... mortgage lien search, tax history... why am I doing HIS WORK???? what did I pay this clown for??? his drug habbit??
Ramon is completely incompetent! The excuses are overwhelming... one lie after another... it is beyond me how this company can still be in business...they MUST hire elementary school DROP OUTS!
I have over a 760 for a credit score... I am only refinancing because CITIZENS bank is requiring me to purchase an additional flood insurance policy for more then my loan is (my home is in a 100 plus year flood zone, my house was built in 1800's & has YET TO FLOOD), in my state it is ILLEGAL to make someone insure a home for more then the loan amount.
So I decided to ditch my bank & go elsewhere... QUICKENLOANS already took my money...I GOT SCREWED!
but I know my rights, I will follow through with my legal options NOW!
******STAY AWAY FROM QUICKENLOANS!!!*********
I worked for quicken and have been in the industry for 15 years. These guys really only care about themselves. They sell you hard on the phone and push and push you to think rates are going up in 5 minutes. Stay away everyone. Plus they charge you so much more than anyone else. Just go to the local bank or credit union.
I want to thank everyones input ~ both negative and positive. Since there was MORE negative than positive, my decision to back away and not even bother with Quicken Loans has been decided -
first experinace was good with quicken...second was a repeat and confirmation of what everyone ehre has said
I had bad experience as well. Bait and switch, misrepresentation, deceptive practices, rude and condescending--you name it. I've filed a complaint with the FTC, Texas Mortgage Banking regulators (who did follow up), Texas State Attorney General, the Better Business Bureau and there will be a small claims lawsuit if I don't get my $500 back. I agree to a deal with a maximum amount of closing costs and quick and easy close in my home. It was a simple refinancing of my home. This morphed into my being told I would have to drive over a 100 miles to another county to close. The closing costs were many times the limit I said I would agree to (they tried to hide that my increasing the loan amount). Then they opened title on not only my house--but on two other lots I own in the subdivision. (Then they said I had a title problem because there was a third lien on my house--not true.) Finally got past that one after a lot of pain. Then they went from a drive by appraisal to a regular appraisal after saying that drive by was okay. The appraiser they sent out was an affiliate according to their own documents. He came from 3 coungties away and didn't know the market. He under appraised the value of the home by using distressed sales (which should be used unless the market is composed primarily of those type of sales--which it isn't). I know the appraisal was wrong because I used to work for a bank and have had appraisal courses and have had real estate training. I verified the value with a local realtor and had a third party appraisal done. It took me several days to get the appraisal because Michael Goldapper, when he saw the appraisal amount, suddenly was too busy to respond other than to say "I can't tell you what you want to hear" and he promised he would send a copy of the appraisal, but never did. I was supposed to under their documents get the appraisal at least 3 days before closing--well that didn't happen. On day 46 after the 45 day rate lock expired and they were defending their appraisal, I told them I was done. They said they would show the loan was withdrawn. I said it wasn't. They faile to perform as promised. On the title issue I talked to Goldapper and his supervisor who told me, now Ms. ___, you know you are wrong. Guess what--I used to work as a paralegal and did title searches. I know when a title problem exists. They just tried to do a collateral grab and got caught. Bait and switch. STAY AWAY FROM QUICKEN UNLESS YOU ENJOY A HEALTHY DOSE OF AGGRAVATION AND CAN THROW MONEY AWAY. BTW I closed with another company who was great to work with--and no problems.
Just went to refinance our home mortgage and worked with a Senior Mortgage Specialist...oh let me tell you how special he truely was! He called every day, every 30 minutes. This went on for 5 days...he woke my husband up after we told him not to call during the day. I spend hours on the phone with him and could not get a direct answer out of him regarding the interest rate, fees, or new payment amounts. He sent me the paperwork with no interest rate, no Interest Disclosure form or "Here's How the Numbers Work" worksheet which would give us our new monthly payment amount. I called his supervisor and got all the information that he left out and review the paperwork finding several errors on the forms. First, the interest rate quoted was not the interest rate locked in to the proposed contract. Second the new payment amount only included half a years worth of real estate tax...he did not think I was going to catch that one and was very condescending when I did. The final straw was his email stating that contract was to be sign the paperwork back to him by end of day or he was going to close the loan because the interest rate was only locked for 5 days...even though the paperwork itself stated 30 days...He did not like that at all and stated and this is a quote "let me know by end of day so I can invest my time and resources in more appropriate matters. Well that was it for me. I was being told that I sign the incorrect paperwork and pay more for my mortgage or he was done with me...oh by the way did you sign that $500.00 Non-Refundable Advance Fee thing...please.
I have to say I was very disappointed in the way this loan was handled...and thanks my lucky stars that I did not let him fast talk me or pressure me into signing something I was not comfortable with. Want to let you know that this is our second experience with Quicken Loans. The first was 12 years ago and we were so impressed by their professionalism and customer satisfaction...this company has gone to hell...would not recommend them or refer any one to use this company!!!
I bought my second house with 2 mortgages through quicken loans and was happy with their process. Now, 5 years later I am doing a refi to a 15 year loan. DO YOUR HOMEWORK BEFORE YOU GET A MORTGAGE, PEOPLE. No lender is going to look out for you - they're going to look out for themselves. There is no need to spend any money before committing to a loan, and yes things change - don't expect if you have crappy credit to get the advertised rate! And if interest rates are going up and you're not locked in, don't be surprised if they go up 1/2 a point in a few days!! And, if you are in an advantageous position credit-wise and asset-wise, EVERYTHING IS NEGOTIABLE. If not, you shouldn't be getting a mortgage.
Quicken refinanced my mortgage & somehow MISSED THE ENTIRE YEAR 2009 PROPERTY TAXES!!! Now, instead of having $3500 financed over 30 years, I have to make up the difference in extra escrow payments over the course of a year.
I've filed a suit in small claims court, but I'm seriously considering trying to pull together a class action suit. Anyone interested please email me at [email protected]
My loan with my former loan holder was just paid off by Quicken Loans and I want to share my experience.
I was contacted without solicitation by Quicken Loans on February 6, 2009 with an offer for refinancing my 5 year ARM expiring 2011. They offered refi terms that intrigued me, so I made a quick Google search to see if it is not a scam. After I read many complaints, I became even more suspicious, so I called my bank to ask them about Quicken Loans. They confirmed that they work with them. In short, I found out, that the bank was improving its balance sheet and cashing in its ARMs. Very cautiously, checking meticulously all paperwork posted by Quicken in my account, I went on. Like a hunted deer, I was ready to cut and run at the smallest sign of wrong doing.
Now that the deal is through, I want to clear my conscience for giving a hard time to my loan officer – Darrell Winslow. If it weren’t for his patient following of the deal, I wouldn’t be saving $200/month. I would have closed earlier, had it not been for my diffidence.
I want to note that a company is made of individuals and I had luck with this one. I don’t want to disparage complaints made by others, who might or might not be right.
In essence, my experience was a positive one, with the ability to examine the paperwork on Quicken’s web site during the process. I did not feel rushed and proceeded at my own pace.
I just completed my refinance with quicken loan. I honestly must say that they handled my loan with complete honesty. During the whole process they were always willing to help and quoted me the correct information. I highly recommend their service if you are looking to refinance.
The same thing is currently happening to myself!
I'm still wondering if finding another loan is worth the $500 fee, because with the harrassing calls, condescending attitude, and double-talk from them we are ready to walk.
They will not work over e-mail (I believe because they will be held to their WORDS instead of able to talk me in circles as typical), so I'm forced to send and resend the same questions over e-mail asking WHY things say one thing one minute, and then change the following day.
And they seem to have "agents" everywhere, finding any complaints and counter writing a fake rave review.
I was asked to write a "recommendation" before my loan has even been processed! The nerve!
Quicken Loans should change the name to "Sicken Loans" because after they are done spinning you around you may indeed feel very "sick". I also think that perhaps they should change the title of the "Truth in Lending" statement to "Truth in Lying" statement. Both of these changes seem appropriate to me.
I would encourage each and every one of you who feel you have been the victum of unethical treatment by Quickenloans to contact the FTC. They have already taken action once against Quicken and if they receive enough complaints of the same nature, perhaps they will go after them again.
FTC
Consumer Response Center
600 Pennsylvania Ave., NW
Washington, DC 20580
Please make sure your correspondence to them is concise and factual and attach all support documentation you think may be useful.
The same exact process occurred with me. The APR shot up .75% - which is a classic "bait and switch" maneuver. Technically, I or anyone can back out that point but since they ring you in, consume your time, - its easy to give in. I wish didn't not just for monetary sake, but on principle alone.
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ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
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Unfair...lies about denial
Denied unfairly