Consumer complaint received 2017-05-16
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Rocket Mortgage, LLC (PA)

On  XXXX / XXXX /  XXXX   I responded to multiple  email from Quicken loans regarding refinancing or home equity line of credit. I spoke to Quicken Agent   XXXX   XXXX . I really did not know what the value of my home is. The call was very high pressured and rushed. I even stated during the call " well maybe is good you are n't giving me time to think because I probably wound't do this if I had time to think about it ''. I said this because of all the promises  XXXX  was making rapidly about how much money I could get to fix up my home on refinance. He said $  XXXX  to  XXXX  would be the amount I would have left over on refinance to fix up my home. I had to pay {$500.00}, but was assured that I would get it back when my home was refinanced.  XXXX  also asked if I was doing any remodeling and I said that I had pulled down a lot of wood trim to strip a lot of paint.  XXXX  said that this would not matter to the appraiser. I got some document from  Quicken by email two days later saying that I was approved based on a home  value of  XXXX . I was shocked. I called  Quicken and spoke to one agent and said " where is Quic  ken  coming up with  XXXX  ''? I was getting very nervous about Quicken at this point. I was transferred to  XXXX , who said he got  XXXX  from me. " From me?! '' I said. We 'd talked about a lot of numbers on the original call, based on numbers I 'd been given by real estate agents,  XXXX  numbers looked up by  XXXX , the  XXXX  appraisal I was quoted by  XXXX  bank. I reminded  XXXX  of this. I was shocked that Quicken was using  XXXX  and questioned this amount to  XXXX .  XXXX  said the appraisal might come in on the low side at  XXXX  but I will still get something. I said I was n't so sure, and I do n't want to be out {$500.00}, I 'd stated to  XXXX .  XXXX  said that wo n't happen.  XXXX  would n't discuss it further and rapidly stated " you 'll get something ''. I figured it must be too late to back out now.   Then the  appraiser came out. He complained about the wood trim being pulled down in two rooms and the paint stripping going on. He rated my hom e " fair condition ''. He appraised the home ridiculously low at  XXXX . Nothing in my town sells that low. This appraisal is lower than appraised value  XXXX  when I bought it  2 1/2 years ago ; and despite major upgrades made by me since then (  new electric, new heating system ect. ) Its $  XXXX  lower than the identical houses two doors down and across  the street s old for in the last few weeks. Those homes are the same size and style as mine and they ARE ON MY BLOCK. The  appraiser did n't even consider them and went with homes farther away in time and distance since I 'd been rated " fair condition ''. My comps became homes on highways and in distress. Then Quicken offered this horrible refinance deal that would raise my interest rate by 1 % and leave me with nothing after closing costs ect. I 'd be back to square 1 with my mortgage, only at a higher interest rate, and {$100.00} more a month payment. I believe that I was just scammed out of {$500.00}, and I want to find a way to get this refunded. Unfortunately I did n't read the Quicken  consumer reviews until after I was " scammed '' out of {$500.00}. I found a whole bunch of complaints stating the same thing- low appraisals that do n't make sense and feeling completely scammed out of {$500.00}. Everyone rolls their eyes when you say you think your appraisal was too low. Everyone who does n't live in my town, that is. I know that you no one believes you when you say that 's a crazy low value. But I did n't believe that my home was of the same value as my neighbors at  XXXX , because mine needs cosmetic work like painting and paint stripping and hardwood floor refinishing  (  a little ). I do n't think I 'd over valued my home. But this value that came back  XXXX  is really crazy. I think the low appraisals might be part of the scam, based on what I am reading of other 's complaints