Please be aware that Tiffany Rodda, Quicken Loans (Livonia, MI) told me that I was her "new client" because my two mortgages (Sallie Mae's) had been sold to Quicken Loans. Please be aware that Tiffany went on to state that in the near future, that they, Quicken Loans, would be the only place I could get new loans (mortgages) and that Quicken would be my lender for life.tiffany then went on to state that she was aware that I had a mortgage in a declining market and she was there to help.
I told her I was not her client, that I had not contacted her nor requested her services. I told her I was suspicious of her phone call and that I found it predatory in nature, particularly given all that had been going on in the financial sector. I told her I didn't need her help, that I didn't want her help and that I had no plans to refinance my balloons - that I was trying to sell one of the properties and that I was considering paying off both mortgages in the next month.
She was exasperated and said, "why would you EVER pay off your mortgages"? Because I can, I said.
She then launched into another sales pitch and I hung up on her. I then googled Quicken Loans and found the usacomplaints.com website where I've seen several complaints. I also checked the Better Business Bureau in Michigan and found 98 complaints in 36 months about selling practices.
Just know that my banker and mortgage broker have both assured me that Quicken Loans is not going to be the only game in town, and that many banks will continue to write mortgages but with tighter terms than in the past - a very good thing given the meltdown in the mortgage market thanks to predatory lenders.
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