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Unlock Techologies
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Testimonial: Under a year ago I was in a very difficult financial situation. I signed up for a loan with unlock for approximately $70,000 it ended up being $73,000 after the appraisal and fees. Less than a year later I decided to pay it off, knowing the loan was at 19.9% APR I assumed it would be around $93,000. Nope apparently there additional fees of approximately $4000 just to pay it off. It may say 19.9% which is indeed a predatory rate but there are over $7000 in additional fees on top of it. This organization is crimin... read more
Business response:
Thank you for sharing your feedback. With a Home Equity Agreement (HEA), you receive funds upfront in exchange for a share of your homes future value. The 19.9% annualized cost limit is not an interest rate or APR, but rather a cap to protect homeowners. Wed be happy to walk you through the details of your agreement please reach out to us at ******************* so we can assist you directly.
Communication was nonexistent. I had no clue as to what steps were going on like i knew the process. When I spoke to supervisors they agreed with the company and not the customer. The amount I was to receive kept changing and the time I would receive the equity was all over the place.
Started with Unlock on March 28, 2025. Was told that if I met their requirements the process should be completed within 30 days, but that it could be less. They pulled the title of my home from the county and a some old fines showed up. I explained that they had already been paid off, they verified this and on 4/15 we moved forward to the appraisal process which was done on 4/22. After the appraisal it would take 7-10 days to calculate final numbers. I reached out to them on 5/6 for an update and recieved a call later that d... read more
Business response:
Were truly sorry to hear about your experience and the frustration its caused. The delays and miscommunications throughout the process fell short of the expectations we set and the experience we aim to deliver. We understand the importance of clarity and timely updates, particularly when dealing with a matter as significant as a home equity agreement.Your feedback highlights areas where we need to improve, particularly around communication and coordination with third parties. We take this seriously and are actively working t... read more
Started the process online application and the offer was way low as the value they gave was wrong on my house, they made a appointment to ring me at 7pm and no one ever rang, i tryd called and got voicemail everytime, i sent emails no replies, seems shady to me when you cannot get someone especially if your dealing with rocket mortgage or someone else they are on top of things
Business response:
Thank you for your feedback. Were sorry we missed the opportunity to connect and understand how that would be frustrating. Our records show that two call attempts were made at the scheduled time, and the home value used was based on information entered in the application. Please feel free to contact us directly to discuss your application. Thank you,The Unlock Team
Really, really poor customer service with ********************** - once they have your money and you've signed on the dotted like, expect to get the complete run around for days or weeks on the simplest of issues - for example, need to change your primary e-mail address so you can log into their portal - how about NO. How about you chase them around for months trying to get it changed. Really, really poor customer services
Business response:
We're sorry for the frustration you've experienced. Updating your email requires coordination between our servicing and operations teams to ensure account security, and we recognize this process caused unnecessary delays.Your feedback is valid, and we're actively working to streamline this so its easier moving forward. We will be reaching out to you once this is resolved. We appreciate your patience.
The biggest problem I found is communication. They do not return calls or emails. I was approved through them but I knew something was wrong with my appraisal because it came in much lower than expected. I have been trying to contact my *** by text and email to get this resolved so I can move forward, but no response. It has been almost a week with no follow up. Because of this i started looking at reviews to make sure was a legit company.
Business response:
Thank you for sharing your feedback. We sincerely apologize for any frustration caused by the communication issues youve experienced. We recognize how important clear and timely updates are.We understand you have been in contact with your Home Equity Consultant and we are all working to ensure this matter is resolved as quickly as possible.
You all need to learn what customer service is. I completed the online application for the *** on ********. The application software is pretty good but machines do not answer questions and making an important transaction that involves our home with a machine seemed not trustworthy. So I paused and called. And here problems started. ****** was the person to work with me and he was simply rude, from the get go, minute by minute. Not a day I would talk to him that he would not be rude. I even basically begged someone once if th... read more
They sold me on 3% annually for the first three years. Then, they refused the contract. Then, they said they would do the contract but the terms of it were completely misrepresented to me. They did not send a complete contract at the time of signing. I did not understand what I was agreeing to at all. These people are thieves and taking advantage of senior citizens.
Business response:
Were truly sorry to hear about your experience and any confusion regarding the terms of your home equity agreement. We are deeply committed to customer education and provide a product overview and detailed information about our home equity agreement throughout the process to ensure that customers can ask questions and gain a thorough understanding of how the product works. From researching your file, we found that you had many questions about various details of the agreement and those questions were answered promptly and in ... read more
We loved the process to obtain an Unlock Home Equity Agreement (not a loan, right). Pretty painless. Some things are too good to be true though. We checked on our payback yearly. Two years later, our $52k "loan" had a payback of $74k! We wanted to refinance and pull some more equity; but you can't cash out unless you pay Unlock back in the process. So yeah $22k later, Unlock became the real winner because they have a secondary lien on your property!
Business response:
Thank you for your feedback. We are sorry to hear about your dissatisfaction with your experience.Unlocks Home Equity Agreement (***) is not a loan and has never been positioned as such. Throughout the process, we provided numerous disclosures and detailed information to ensure you understood the terms of your agreement and the cost of the transaction. We also provide regular updates on the estimated cost to settle.The cost of your *** is based on the duration it remains in place. Terminating early may result in higher costs... read more
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Unlock Techologies has a 4.2 star rating with 525 reviews.
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Unlock Techologies is open now. It is open 24/7.