They are nothing but a nightmare. We filled out a questionnaire with Lending Tree and Quicken responded.
I was presented a loan payment quote and assured there was absolutely no out of pocket expense multiplied times while we were talking. It looked impressive so I said let's start the procedure. Next I know I'm asked for a 400.00 good faith payment that will be subtracted from the loan cost because they want to make sure I'm going to go through with the loading with all the work that's involved. They sent me a ton of paperwork that I had to look over and approve the I had to get the payoff amount from my existing mortgage company that I thought was odd since I was assured they'd do all the work.
The process takes about 2 weeks and we set up a day to have an agent come and sign the paperwork. All of a sudden a mysterious set of charges appear on the final paperwork printout for home insurance and the escarow for a years worth of taxes. I questioned all this because I was told absolutely no out of pocket expenses but was informed that didn't include these charges and I had to pay them up front but that once the loan processed I'd get a check in that same amount from the old mortgage company because Quicken had called them and confirmed the loan payoff and the escarow amount so quoted me the amount I'd get back. The agent shows up no I had to cut them a check that was costly but was happy I'd be getting it back from the old mortgage company.
About a month goes by and I get a check the old mortgage company for about 10% of what I'd paid in escrow. I called Quicken and was told that's not their fault to contact the old mortgage company. I was told from the old mortgage company Quicken made the mistake as there was no escrow balance due to Quicken had instructed them to payoff the yearly taxes which drained the account for the most part.I called back and asked Quicken why they did that and lied to me and they said it was normal procedure to do this sorry. So they lied to me and asked me to pay escrow but I'd get it back from the old loan company a flat out lie to deceive me to get my business and force me to pay up front fees after claiming there were none.
So this took about a month to,find out which was beyond the backing out of the loan time period how convenient huh? So I super pissed at this point and unable to do anything about it as Quicken could have cared less when I called multiple times for help. Then 2 months later I get a bill in the mail from Quicken loans stating I had to pay it immediately or be in default of the mortgage. I called and asked what this bill was for.
I was informed that the loan payoff amount from the old company was wrong. They paid off the loan minus the escrow because because it was refunded to me. I said it was not refunded to me because you had them payoff the yearly taxes. I was told well sir that's not our fault it's your fault as you should had know this when you were instructed to get the payoff amount originally.
I asked how it's my fault? You did all the paperwork and I called the old mortgage company and they sent me a copy of the payoff amount they sent to you and it did not include the escrow. You underpaid them plain and simple. Looks like you screwed up and I'm not paying it.
I was reminded of I didn't pay I'd be on default so I had no choice. Then they precede to tell me in good faith they'd let me pay it off in 6 installment payments to help out. How nice they screw me and tell me they are helping me out. I would walked away from this loan had I known about all this upfront.
They screwed me and deceived my and frauded me and waited until I couldn't back out of the loan to do this. How classy. This is a dishonest company and please I pray stay away from them. Every month I write this check I curse them and pray they go bankrupt.
To add insult to injury I have had several calls from them because I qualify for the harp program and can lower my payment. Are you kidding me? What you didn't screw me over enough the first time?
I own a small business and when you make mistakes on pricing and the deal is done you have to eat it not go after the consumer. So because you hold the deed to my house that gives you the right to fraud me.
Product or Service Mentioned: Quicken Loans Mortgage Refinance.
Reason of review: Other issue.
Monetary Loss: $2300.
Preferred solution: Full refund.
I didn't like: Greedy, Incompetence and lack of common sense, False advertisement.