I talked to Quicken Loans regarding a refinance. After giving them my credit card to proceed with the loan, faxing all documents they requested and jumping through the rest of their hoops, I was told that since they were paying off 3 of my credit cards I had to close the accounts. I was very hesitant as I had these accounts for over 20 years and they all had balances. I was assured that they would be paid off and they couldnt close the loan until AFTER I closed my accounts and sent them letters proving I had closed them. Once again, I complied with their demands. THEN they send over an "appraiser" that was at my house for 5 minutes, said he only needed to check that the electrical and plumbing was "code". The next day they told me that my house, which had appraised for $240, 000 had only apraised for $104, 000 and therefore they could not refinance my loan. I appealed the appraisal as the appraiser had given them incorrect square footage, comprables that were over 2 miles from my house, along with several other inaccuracies.. The appeal, of course, did not change anything. Now my credit score has dropped over 100 points for closing the accounts and I am unable to get a refinance through any other company as my credit score is too low. What a terrible way to run a company! I really think that the way they make their money os their $500 they ask for up front, with absolutely no intention of going through with the loan