Quicken Loans (Livonia, MI)

Quicken Loans (Livonia, MI)

Borrower Beware!

Quicken Loans is a dishonest and unethical company. I recently applied for a refinance loan and was told that everything looked great and the loan would be approved. A Mr. Grant Wachler took all of the information, including my $500 deposit, which he said would be credited to my account at closing.

Well, after several weeks, Quicken decided not to give me the loan, and they refused to refund my $500 deposit! Fortunately, my credit card company (Chase Visa) was aware of Quicken's history of scams, and they credited my account for the full amount. I am also in the process of filing formal complaints with the FTC and housing authority, as well as the Better Business Bureau. Don't let this happen to you! (By the way, Mr. Wachler has never returned my phone calls.)

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I was contacted by Quicken Loans for a loan based on an inquiry I had. I wanted to refincne my 2nd mortgage and consolidate debt. Interest rates were going down at the time so Dustin Linenger, my rep from Quicken thought I should refinance my home as well. He indicated that I needed to leave a "good faith" deposit fo $500. I was very apprehensive and told him unless this deposit is completely refundable I was not interested. He insisted this deposit will be refunded at the closing or if the process did not come to fruition. NEVER did he state that this would be the cost toward the appraisal. He was so convincing and pushy that I had agreed to the "good faith" deposit. He literally called me numerous times throughout the day telling me we need to lock in the rate and can't do so until he receives the deposit. Well, the loan did not come to fruition and the deposit was not refunded. The reason the loan did not go through was due to the market not doing well on the appraisal.

Needless to say, I was completely swindled by this unethical person. I will never do business with Quicken Loans nor any other affiliates of this company.

Comment On This

Funny to have run across this complaint. I actually HAD Grant Wachler at Quicken Loans finance my mortgage. This complaint really surprises me because from my experience, he was nothing less than a pleasure to work with. I felt very well educated throughout the process, and it was my first home; I had a LOT of questions. I wonder; is it possible this individual claimed he/she had more/less debt/assets than he/she actually had, and then when all the paperwork started rolling in, those claimed assets/debts were entirely different? Something seems a little fishy on the end of the complainer, here. Sorry, but I just can't buy that a mortgage banker I referred to all of my friends would dupe an educated consumer.

Comment On This

Funny to have run across this complaint. I actually HAD Grant Wachler at Quicken Loans finance my mortgage. This complaint really surprises me because from my experience, he was nothing less than a pleasure to work with. I felt very well educated throughout the process, and it was my first home; I had a LOT of questions. I wonder; is it possible this individual claimed he/she had more/less debt/assets than he/she actually had, and then when all the paperwork started rolling in, those claimed assets/debts were entirely different? Something seems a little fishy on the end of the complainer, here. Sorry, but I just can't buy that a mortgage banker I referred to all of my friends would dupe an educated consumer.

Comment On This

Yes, Quicken Loans is highly unethical. We were trusting of our loan officer, Corey Wacker. He gave us a monthly payment on an interest only loan, with absolutely no explanation of it being negative amortization. When we received our first coupon, it was $500.00 more than what he indicated. We are seniors and were 100% bilked and deceived.

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I too have had problems with Quicken Loans. I am trying to sell my house, had a buyer (using quicken loans). To make a long story short, they were guaranteed the loan if some fix up work was done. I did the work, now they want another 10% down to give these kids a loan. They blame it all on regulations. You don't change in mid stream!! i wouldn't recommend this company to a gold fish!! They not only took the buyers money but have been jerking my chain for over 2 months. It has cost me in upkeep on the house, utilities, repairs, and stress. I figure Quicken loans has cost the buyers about $1200 and me (the seller) over $3000.

I hope Mr. Dan Shuper and Heather can sleep at night.