Quicken Loans Quicken Loans makes a significant portion of their profit by scamming customers Detroit, Michigan

28th of Nov, 2011 by User549662

Quicken Loans is a company that specializes in deceiving and confusing customers; extorting deposits and switching terms once customers are financially committed. Dealing with mortgage bankers of Quicken Loans is like dealing with used car salesmen. I was offered a rate that would save me a couple hundred dollars off my monthly payment; they assumed lowered closing costs through CEMA program (that is expected to reduce mortgage tax). When I got better rate from another company they offered to match it. They did not post the actual matched numbers until the appraisal was done. Quicken Loans were unable to obtain the loan with the lower closing costs so they switched terms to a more expensive loan (higher taxes) without even telling me. There was always a delay in posting documentation; they would not respond to e-mail but insist of phone calls. In phone conversation they would switch subjects, be pushy, vague and unclear. All attempts to convince them to refund my good faith deposit were unsuccessful. I fired Quicken Loans as the bank for my refinancing because the modified terms of the loan were no better than my existing loans yet they recorded the cancellation of the loan process as a denial with the reason of insufficient funds for closing. All requests to have these facts corrected were disregarded by Quicken Loans. Anybody dealing with Quicken Loans have to be prepared to go to court. I will advise as many people as I can to not have any business with this company.

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