Contacted Quicken Loans to refinance home at lower interest rate with no cash out, we went over the details and they stated to proceed they would need a 500.00 deposit that would be refunded at closing or if loan denied.
Should have read all of usacomplaints. Coms and consumer complaints first!
They come back with a super low appraisal and stated in order to close I would have to do a loan with PMI (which I do not have now) and excessive closing costs.
Why would they ever want to make a loan they pay the appraiser 200 and credit check 40 and then take a million applicants they have made 260 million without ever loaning a dime!
So they keep my 500 dollar deposit for appraisal fee and credit check since they said my loan was not denied but I was not willing to pay the 260 month PMI and 8700 closing costs
This scam needs to be checked into by the Ratio of Applicants/to actual Mortgages
Dave
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