Quicken Loans
Good Faith Money Gone After Appraisal Came In Low

I too was a victim of Quicken Loans. They seem to have the same MO. Beware! They ask for good faith money then under value your house and presto they make $400-$500 person.

I was told they needed "Good Faith Money" as my commitment to the process after I was approved. Of course I was committed. Not until the all the papers were in and almost completed did the fine print read about it paying for the appraisal with that money.

What is one to do when you're almost done with the process. So I still signed thinking they were on the up and up. A few days later I get a call saying our appraisal came in $56k less than what we owe and $91k less than tax value. They said there was nothing else they could do.

It would be a little different if it has only happen to just a few of us, I believe they should investigated for fraud. Read every complaint about them before you make your decision.

Company: Quicken Loans
Country: USA
Site: quickenloans.com

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