Mortgage -- Trouble during payment process -- Complaint #6836950
Complaint Overview
Complaint ID: 6836950
Company: Rocket Mortgage, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Michigan
ZIP Code: 48307
Date Received: 2023-04-13T12:00:00-05:00
Date Sent to Company: 2023-04-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I have a current 20 year fixed rate mortgage with Rocket loans at 3.125 %. XXXX XXXX XXXX ID # XXXX called me on XX/XX/23 on a recorded call stating there was an opportunity for me to save money on my mortgage with them. I stated what my current rate and term was and that I did not believe he could save me on interest cost, as rates are currently much higher. He stated he had many ways to do this. One example he used was for me to refinance into a 30 year fixed rate at 6 % and then pay it off in 10 years. He said this would make my effective rate 2 % since it was paid in a third of the time. This is an outright lie. I tried to explain to him this is incorrect and that I work in financial planning, so I know how this works. He insisted he was correct and I further warned him this was an untrue and highly deceptive sales tactic. He became argumentative so I asked for a manager to file a complaint. He indicated no one was available and that I would receive a call the next morning. I did not receive a call. My complaint is to bring light to the deceptive and untrue sales tactics that Rocket mortgage is using. This could cause major harm to a consumer who may not completely understand how interest cost is accrued. I previously worked in home lending for over 20 years and this was the worst display I have ever witnessed. In addition, I do not believe XXXX provided his NMLS ID when he called, which is a violation if I am not mistaken.
Frequently Asked Questions
What is Complaint #6836950 about?
Complaint #6836950 was filed against Rocket Mortgage, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-04-13T12:00:00-05:00.
How did Rocket Mortgage, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Rocket Mortgage, LLC?
Yes, visit the Rocket Mortgage, LLC company profile at readthecomplaint.com/company/rocket-mortgage-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.