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Started By
Message
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Posted on 1/18/17 at 9:37 am
Posted on 1/18/17 at 9:37 am
(no message)
This post was edited on 8/29/17 at 1:25 pm
8
Posted on 1/18/17 at 9:46 am to CQQ
Go on Quicken Loans' website and find a number for mortgage banking or just customer service in general. Call the number you find online and ask for Greg Sage. If you're connected, you know its legit. If they say a Greg Sage doesn't exist, then tell them you'd like to report a phishing attempt.
Posted on 1/18/17 at 9:48 am to CQQ
Entertain it. Call him to find out what the catch is... Because there is one.
Posted on 1/18/17 at 9:48 am to kennypowers816
Good idea, thanks
Posted on 1/18/17 at 9:55 am to CQQ
If I was Cory, I'd email back saying that I'm running errands today and ask if I could just stop by my local Quicken Loans location to discuss things. If it's a scam, I don't think they'd want you to do that.
You could also think of a way to ask this Greg fellow what city he works in. That's a Detroit number, so if he says someplace far from Detroit, then it's a scam.
You could also think of a way to ask this Greg fellow what city he works in. That's a Detroit number, so if he says someplace far from Detroit, then it's a scam.
Posted on 1/18/17 at 10:17 am to Omada
It doesn't look like a scam whatsoever
Just google the 800 number he provided and see if it's from quicken or not
Just google the 800 number he provided and see if it's from quicken or not
Posted on 1/18/17 at 10:44 am to anc
I called the main Customer Service line and he was in the directory. I'm still a little leery.
He's basically telling me that this is just a review done out of good customer service. We talked about the value of our home and what I think it might appraise for now. Told him I see us moving in about 5 years and he said our best option may be to look at their "Amazing 10" mortgage. Rate is reduced and fixed for 10 years.
Supposed to run some #'s and call back this afternoon.
Amazing 10 Info
He's basically telling me that this is just a review done out of good customer service. We talked about the value of our home and what I think it might appraise for now. Told him I see us moving in about 5 years and he said our best option may be to look at their "Amazing 10" mortgage. Rate is reduced and fixed for 10 years.
Supposed to run some #'s and call back this afternoon.
Amazing 10 Info
This post was edited on 1/18/17 at 10:47 am
Posted on 1/18/17 at 11:21 am to CQQ
quote:
I called the main Customer Service line and he was in the directory. I'm still a little leery.
He's basically telling me that this is just a review done out of good customer service. We talked about the value of our home and what I think it might appraise for now. Told him I see us moving in about 5 years and he said our best option may be to look at their "Amazing 10" mortgage. Rate is reduced and fixed for 10 years.
Supposed to run some #'s and call back this afternoon.
Amazing 10 Info
There is definitely a catch here. If you are looking to refi, you mgiht be better going with a broker.
Posted on 1/18/17 at 11:33 am to Hawkeye95
He guaranteed no money out of pocket for this. Refinancing (currently at 4.75%) through anyone else doesn't give me that. The only catch I see is I'm essentially starting my loan over so if I do stay in this house forever, they've gained 3 additional years of me as a borrower. I'll post what he calls back with for you guys' input.
This post was edited on 1/18/17 at 11:34 am
Posted on 1/18/17 at 11:50 am to CQQ
So it's a 10 year fixed and then converts to a 1 year ARM.
WOW!! That is amazing!
WOW!! That is amazing!
Posted on 1/18/17 at 11:51 am to CQQ
quote:
He guaranteed no money out of pocket for this.
Yep, because I'm guessing the costs will be rolled back into the loan.
Posted on 1/18/17 at 11:55 am to CQQ
A few years ago Chase Mortgage offered to refi our mortgage with no closing costs at a lower rate. Why? Because they anticipated that we would start shopping around for lower rates and they would lose our mortgage.
There were absolutely no "catches" and someone even came to our house one evening for us to sign the paperwork.
There were absolutely no "catches" and someone even came to our house one evening for us to sign the paperwork.
Posted on 1/18/17 at 12:33 pm to Waffle House
So pay less/month but get less cash back when we sell?
Posted on 1/18/17 at 12:43 pm to CQQ
quote:
refi our mortgage with no closing costs
quote:
So pay less/month but get less cash back when we sell?
Why on earth would you think this after reading that? It's a straight up rate reduction refi. They do it so they can retain or sell the servicing of your loan which generates income for them.
Posted on 1/18/17 at 12:49 pm to VABuckeye
frick dude, stop being an arse. I'm trying to make sure I make the right decision on something I have limited experience with. Are you saying this is potentially a good move for me?
My logic was that although he says it would be no out of pocket NOW, there could be fees associated with the refinance that are essentially rolled up into the loan. If they were rolled up in the loan, we would pocket less money when we go to sell the house. Is this off base?
My logic was that although he says it would be no out of pocket NOW, there could be fees associated with the refinance that are essentially rolled up into the loan. If they were rolled up in the loan, we would pocket less money when we go to sell the house. Is this off base?
Posted on 1/18/17 at 12:51 pm to CQQ
Yes, I'm saying it could be a good deal. Straight up rate and term so they can keep the loan.
The risk to you is staying in the house more than 10 years and getting stuck in a bad market where you can't sell and your payment goes up every year.
My first post was a joke. The second was factual and you took it completely wrong.
Not legal. All fees have to be disclosed up front.
The risk to you is staying in the house more than 10 years and getting stuck in a bad market where you can't sell and your payment goes up every year.
My first post was a joke. The second was factual and you took it completely wrong.
quote:
there could be fees associated with the refinance that are essentially rolled up into the loan.
Not legal. All fees have to be disclosed up front.
This post was edited on 1/18/17 at 12:54 pm
Posted on 1/18/17 at 12:56 pm to VABuckeye
quote:
So it's a 10 year fixed and then converts to a 1 year ARM.
10/1 arms are pretty common. And 4.75 isn't that great of a rate right now. Or at least in Denver its not.
Check out bankrate
Posted on 1/18/17 at 12:57 pm to VABuckeye
Sweet 
Posted on 1/18/17 at 2:16 pm to CQQ
We have our mortgage with quicken we get a similar email each year around this time when they review our escrow for 2017 - we refinanced a couple of years ago on similar premises - we switched terms, got a lower rate and the only thing that would have rolled back into the loan was the appraisal fee and we just paid that upfront. They sent the notary to our house, our neighbor was a witness and we signed everything that night.
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