Complaint / Review
Quicken Loans
Scam

I applied, after allot of research on my part, to re-finance our

Home on 1/6. I informed the representative after some

Discussion, that under no terms was I coming out of pocket with any

Money or paying for anything unless he and his company were 100% sure

My loan would go through. I informed him and his director in

Numerous conversations that I did not wish to proceed with the process

If I did not have this guarantee. When I was verbally assured by him

And with the approval of his director that it would go through, I gave

A $400 deposit for various fees which were to be returned at closing.

I once again explained that if this was not a sure thing that I did

Not want to proceed and once again given assurances that there would

Be no issues.

The appraisal came in grossly under valued at $210,000 which is well

Under the range they assured me my home was worth $270,000-285,000.

When I asked to see the appraisal I found home sales used as a

Comparison were not any where near my home's location, size or age.

After many conversations between a variety of Quicken Employees I

Submitted per their request listings that I have found in my area that

Are the size and closer to the age of my home. These listing showed a

Number of homes to be selling for anywhere from $276,000 to $350,000.

There are currently 2 homes for sale in my neighborhood by the same

Home builder for $350,000 and $400,000 and they are the same size and

Age or smaller. I also discovered that a neighbor home sold for

$270,000 last year which was not considered by the appraisal. All

These prices are are big difference from the insulting appraisal

Conducted by Quicken. I then receive the yearly assessed value of my

Home and it is $334,500.

I have submitted my findings to Quicken and to no avail they have not

Changed or considered changing their position.

I finally received a credit of $51.00 after waiting for weeks.

I just want everybody to be warned about the poor business practices of this company

So others are not scammed as we were. Don't trust them, go to someone else!