I applied for a quicken loan by telephone from an advertisement found on the internet. Craig advised me that with my credit history, a loan would be no problem.
So he pre-approved me and charged $500 to my credit card for a deposit on the closing costs. Then days later he calls me and tells me I'm 'marginal' and that I would need to get documents from my son (who is not on the loan) to possibly qualify. I told him that I did not have access to my son's checking account or documents and that Quicken could not require me to provide such documents since my son was not on the loan. Craig said that if I didn't, Quicken would declare that I was being un-cooperative and keep my $500 dollars and I still would not get the loan.
I have challenged the charge on my credit card. The battle has only begun. But beware. Do not do business with Quicken Loans. They aren't honest or forthright. I was told I would not be charged if I was not approved. But they won't approve me if I don't give them my son's checking account information for the last year. That isn't kosher or legal.
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