My husband and I wanted to turn our 30 year mortgage and line of credit into a 15 year mortgage. We went to Lending Tree and Lower Your Bills.com and filled in the information. Quicken Loans happened to get to us first. Robert Antaya seemed nice enough.
We had just had an appraisal on our home within the last four months so we knew what our home was worth. Quicken sent another appraiser who looked at the house and took a few pictures totaling 10 minutes and then sat in our living room for 2-1/2 hours talking about his upcoming vacation, previous vacations, etc. Later we find out that his appraisal was $65,000 less than the one four months previous and we had upgraded a few things since then so the appraisal should have gone up, not down.
I have since read that this is Quicken's practice. They send people they know will appraise exactly the way they want so you'll have to come up with more fees, etc. To close the loan.
We have excellent credit and live in a highly desirable area in the north Georgia mountains. We have 16 acres. Robert Antaya tried to tell me that this section of our state is highly depressed right now and house prices are falling like leaves. Ha. Not true. This is the section of Georgia everyone wants to move to. Nowhere near the pollution and smog of Atlanta yet you can work in the Atlanta area and live in the mountains. Mr. Antaya told me he could find no comparable sales which is not surprising since not too many people have acreage as we do.
Mr. Antaya also say they need money, in our case $500, to start the loan process and we will get the money back at closing. Now we are told we aren't getting a dime back.
I have contacted the Better Business Bureau and my credit card company to try to recoup some of this $500 because, being a cancer survivor, I'm not used to just giving my money away.
Stay away from Quicken Loans or you might find yourself in the same situation as myself and the legion of others who made the same mistake I did - tried to deal with Quicken Loans.
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