Consumer complaint received 2022-12-28
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Rocket Mortgage, LLC (MA)

Predatory lending is an attempt through deceptive practices to entice, mislead, or dupe a consumer into a loan that is not in their best interests. This includes higher interest rates. I am writing to report predatory lending practices by my mortgage company Rocket Mortgage. 

Rocket Mortgage made several attempts to reach me from XX/XX/XXXX through XX/XX/XXXX. I was not interested in anything they have to offer since my current mortgage is at XXXX XXXX and current rates were above XXXX XXXX at the time of these calls. 
On XXXX, I accepted a call from Rocket Mortgage service rep named XXXX. I clearly, in no uncertain terms, told XXXX that I DID NOT WANT TO REFINANCE. My goal in accepting the call was for them to stop calling me. XXXX was offering to consolidate my debt a car loan and a personal loan into my mortgage with some equity cash out. My car loan is XXXX XXXX with only 4 years left. My personal loan has a quick repayment schedule less than 2 years. XXXX tried to convince me that this new mortgage would save me money because I would have smaller payments each month. I told XXXX that paying off a car and personal loan over 30 years, when I would be done in less than XXXX would be ludicrous. A rough calculation is that the new mortgage loan Rocket Mortgage proposed, would cost me {$360000.00} over the 30 years. There is no car that I own, worth even a fraction of that amount. XXXX and Rocket Mortgage are trying to dupe consumers into believing they would have savings through a refi because their monthly payments would be less. When I told him his logic was extremely flawed, he agreed to note my account that I WAS NOT INTERESTED and stop calling. 

I received subsequent calls and voicemails from Rocket Mortgage trying to re-engage me into this scam. XX/XX/XXXX from XXXX, XX/XX/XXXX from XXXX again, and XX/XX/XXXX from XXXX. Incoming phone number is XXXX. 

The worst part of this scenario is not the harassment, it was when I received a pay-off statement on my current loan with Rocket Mortgage via email on XX/XX/XXXX for my loan ending in XXXX. I immediately logged into my app with Rocket Mortgage and my current loan was no longer visible! They had initiated a refi WITHOUT MY APPROVAL! I can not even describe how violating this felt to me. 

I immediately spoke with someone at Rocket Mortgage via chat through the APP. They said, I had told XXXX on XX/XX/XXXX I was interested I refi! I told them to pull the call recording. I CLEARLY AN DISTICTLY TOLD XXXX NO on XX/XX/XXXX. They did show me how I could pull up information on my current loan with them because I wanted to make my monthly payment. I directed them to remove the refi from my account immediately. 

The worst part of this, is the number of uneducated consumers or mortgage holders that will fall victim to this scam. It is a deceptive practice and fraudulent to say the least. I suggest an investigation into how many refinances Rocket Mortgage obtained through these fraudulent means ( promising lower monthly payments while knowingly robbing consumers long-term of their hard earned money ).