Quicken loan experience was a disaster
Written: Apr 25 '03
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Pros: Telephone response within 24 hours
Cons: Almost everything else
The Bottom Line: Avoid. Slow to final closing, change of terms at last minute, rates slightly higher
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| quickblah's Full Review: Quicken Loans |
After years of online shopping with nearly universally good experiences, I opted for an online refinance with Quicken. I chose Quicken because of my familiarity with other products like Turbotax, etc., and favorable reviews on the internet. My experience, however, was horrendous. Initially, the rates were equal to other companies and it appeared that the brokers were interested in rapid closing of the loan. I spent two rushed days gathering information and faxing it to them (once just prior to Thanksgiving, then again just a day before Christmas) at their demand, only to be met with delays on their end. They seemed not to care about the inconvenience in my life at the time, and my efforts were not at all rewarded by faster service (in fact, the broker went home early the day he demanded all the papers, then wasn't even at work the next day!). The whole process took 10 weeks (in the meantime, a family member of mine refinanced his own home with Wells Fargo at a lower rate and in only 3 weeks!). On the day of closing, the final documents had been altered from the terms reviewed just the day before and the loan fees were higher. We sought independent professional council and were told "under no circumstances should you sign those documents with those terms." Overall, quite an unsatisfactory experience.
Recommended:
No
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Epinions.com ID:
quickblah
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Reviews written: 1
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