I was interested in refinancing my mortgage since the interest rates had fallen. I just wanted to see if it would be a good option for me, so I filled out a inquiry on quicken.com. I had a phone call within in minutes from a representative that seemed helpful and friendly. The first question he asked was for my social security number and a credit card number this should have been a red flag, but I thought surely a company like quicken loans could be trusted. After a few more questions the representative told me he had great news and that they could deffinately help me he even told me that he could get me a new loan that would cost me less interest than my current loan which is rare (ISN'T THAT THE POINT OF REFINANCING). He then told me he would call me back with more information and he would create a website where I could look at the documents.
When he called back he directed me to the website and told me I had to esign some documents the first document was a form that does state you will be charged 500 dollars if you go any further, glad I read the whole thing. I refused to sign because I wanted to know if the loan was good for me before I signed anything. Once I refused to sign the friendly helpful representative turned into a rude, smug, and offensive representative. He even asked me what kind of man needed to talk to his wife to make a decision. Hello we are talking about a $200,000 loan of course I need to talk to my wife. Obviously the whole point is to rush you into signing that document so that can get $500 dollars from you. Why else would this be the first document for me to sign. Shouldn't I know what the loan details are before I have to sign a form giving quicken permission to charge $500 to my credit card. I did look over that other documents that were posted and with closing costs I would be paying more than the original loan on my house and would only be saving 1000 dollars in interest payments over the course of the loan. Anybody could see that this would not be a good option for me but who cares as long as they get their $500 dollars.
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