Complaint / review text:
Was told by rep for Quicken loans that my 500.00 appraiser fee would go toward my new loan and if my loan did not go through, I would get my money back. We have owned this home for 17 years, refined 2 other times and got a home equity loan last year because we needed a new oil burner. We decided to refi again because interest rates are so low. And also, we wanted a 15 year loan. The former appraisals came back at 99,000 for the home equity loan and 104,000 for the both appraisals for the refi's.
We always paid our mortgage on time, we have excellent credit and my husband has had the same job for 37 years. The Quicken loan appraisal came back at 80,000!! So we could not get the loan and then we were also informed that they get to keep our 500.00 on top of that!!! We told them that a lot of the info was wrong on the appraisal, but they got back to us in a few days and said sorry but the underwriters agreed with it. We are fighting this of course and they have the nerve to say they make no money from the appraisal? Sure. They are guaranteed to rip off amazingly!!! We want our 500.00 back!!!