| Quicken Loans |
| Quicken Loans quickenloans Misrepresentation of Good Faith Money/Dishonest Information and Avoiding communication. Internet |
| 24th of Jun, 2011 by User212901 |
I received a followup sales call from "Quicken Loans" wanting me to reattempt to obtain a Refinance Mortgage Loan after being denied 2 months prior. I spoke at length with Jacob Siegal who is a loan officer. I agreed for them to pull my credit for prequalifying purposes. I was told I was preapproved for the loan in which we had discussed for Refinance of my mortgage. They wanted a payment of $400.00 as a "good Faith" committment to ensure that I did not put them to all the trouble then back out. I repeatedly asked Mr. Siegal if there was any chance I would loose this money as I lived on a fixed income and could not afford to loose this payment. He assured me the only way I would loose it was if I backed out of the agreement. I then spoke with his supervisor and he also assured me of the same promise. I was to receive a credit of this money at closing which they assured me that occur within 30 days. Again, this was presented to me as 'good faith' money which would be returned at closing and I would loose Only if I backed out of the loan. I preceded based on that promise. 2 weeks into the loan process, they stopped communicating with me by email or by phone despite leaving many messages. I finally get a phone call requesting information that had NO bearing on this loan. They claimed the appraisal came in at a much lower figure but I later discovered that the apprasial came in at exactly the amount I needed to refinance as was per our initial plan. They kept requesting documents relating to property condition and repairs even though the apprasial reflected the property was in excellent condition and had pictures and descriptions of condition. They kept $376.00 of the 400.00 for the so called apprasial and credit report fee. The actual and factual refund policy is only made known to consumers after they establish the online account which cannot be done until after you have put forth your 'good faith committment' money and they prepare the loan documents for signature for you to sign. I have come to learn that this is a very common practice with Quicken Loans misrepresenting the so called Good Faith Money with the promise it will be returned to you at closing. They prequalify you and make you think that you are the only way your loan will not close when in fact, they find dishonest reasons to fail your loan and retain your money. I had to borrow this good faith money that they kept and they knew this as they agreed to wait almost a week to send it through the bank and then they later wanted proof that it wasn't borrowed. Again, they refused the loan stating the apprasial was too low when in fact it was exactly what was required to obtain the loan. I report this to my bank in an effort to get back my good faith money since they dishonestly denied the loan and kept it which will cause me to fall behind on my mortgage next month when the bank reverses the temporary credit. All in all, they are completely dishonest and are just a bunch of telemarketers who just want your 'GOOD FAITH MONEY" and will promise you anything to get it and assure you that your loan is a DONE DEAL. Even after they deny your loan, they will send your information to another loan officer to restart the phone calls again. They cause people financial hardship instead of helping you save your home.
In todays market, these people keep hurting the hurt, kicking them while their down all the while making you think JD Powers and Associates named them top on the list of Mortgage lenders.
Do your research before dealing with this company, you will find many of the exact same complaints and some worse.
DO NOT DEAL WITH QUICKEN LOANS!!! They are dishonest and deceivers. You will not get what you expect.
bradford
dallas, ga
|
|
|
|
Post your Comment
|
|
|
