we are going thru lending tree loans anyone have experience with them

Asked by Dee, 10465 Thu Dec 18, 2008

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11
Gregory Bain, , Ocean County, NJ
Thu Dec 18, 2008
http://www.youtube.com/watch?v=q2QhkCdC__g

and of course, you remember Stanley?

http://www.youtube.com/watch?v=hn5EP9StlVA

Get a pre-approval and then call me - I don't care which Mortgage Company you want to use.
Web Reference:  http://Ask4Greg.com
0 votes
Tony Grech, Mortgage Broker Or Lender, Southfield, MI
Thu Dec 18, 2008
These are all valid points Dee. Lending Tree is strictly a referral service and banks and brokers pay Lending Tree for access to leads. In my humble opinion if a loan officer is good at what they do, then they should be able to build enough relationshps to generate their own leads. Same goes for any realtor, insurance agent, etc...

Keep in mind that no lender out there "magically" has access to money that is far cheaper than the next guy. Large institutions have a little more financial power, however, that advantage is often wiped out by the additional overhead they carry.

As a result, everyone is probably going to be pretty close to one another UNLESS they're pulling a fast one on you. And at the end of the day if you have problems or issues, it is not Lending Tree that is going to help you with them but rather the lender you work with anyway.

My advice is to ditch L-Tree and check with a couple local, reputable lenders and compare their options. Check with your banking institution and ask a couple friends or your realtor for a referral if you need to. This should ensure that you get good service, localized expertise, and a FAIR deal. Notice I didn't say the cheapest deal or the lowest rate. Keep in mind that you get what you pay for. I'd encourage you to consider how important the following factors are in making your decision: customer service, strentgth of the financial institution, and delivering on promises.

Best of luck!
0 votes
Voices Member, , Benton County, OR
Thu Dec 18, 2008
Am I going to be sued for comparing Lending tree loan to a compost pile? I would like to suggest Lending tree sue David instead. I,ve been reading a lot about how we hit the bottom, buyers are grabbing up all the good properties, sales will increase, more loans will be made ect..

Now David having two hats (Lender & Agent) will be rolling in the big money pile and anyone sueing should obviously choose him..

Just in case, Dunes
0 votes
John Sacktig, Agent, New Jersey, NJ
Thu Dec 18, 2008
Ugh. did I say I have a headache?
0 votes
Paul Howard, Agent, Cherry Hill, NJ
Thu Dec 18, 2008
I don't. I've heard the name and seen the website. But who are you actually dealing with. Don't fall for the 'when lenders compete you win' hype. That is all it is. A lender can't quote you a rate without running your credit. Even then they would likely have to discuss with you. If you get that warm and fuzzy feeling from lending tree go for it. I don't.

If you 'are going through lending tree' it sound like you have already decided. If that is the case who is the lender and how did you choose them. I ask because lending tree is not a lender. It is a referral company. Their site says. "Our free service connects borrowers with multiple loan offers, helping them compare options and select the best loan for their individual needs." Sorry, I have never heard of anyone gaining an advantage using them.
0 votes
David Chambe…, , Saint Petersburg, FL
Thu Dec 18, 2008
"If anything is negative posted to the web could be considered slanderous comment." They can sue me if they like I am a real estate agent and mortgage broker, How much money do you think they will get. lol
0 votes
Voices Member, , Benton County, OR
Thu Dec 18, 2008
When you dig for gold in the compost pile, what do you think you will find?

Good luck you're going to need it, Dunes
0 votes
Debra B Albe…, Agent, Port St Lucie, FL
Thu Dec 18, 2008
Only bad experience. You need a local lender or a national lender to get a local appraiser who can do a good job for you.
Debbie Albert
Coldwell Banker
Web Reference:  http://www.ronanddebbie.net
0 votes
Erin Valovich, Agent, Laguna Niguel, CA
Thu Dec 18, 2008
Lending Tree can be a great resource for home loan information but the impersonal aspect is an issue. If there is a mortgage broker that can provide the same rates, points, etc, then this may be a better solution.
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Dec 18, 2008
With all nation wide or local services you will have pros and cons. If anything is negative posted to the web could be considered slanderous comment.
Web Reference:  http://www.lynn911.com
0 votes
David Chambe…, , Saint Petersburg, FL
Thu Dec 18, 2008
No but if you have to call a 1-800 number the sevice can't be that good.
0 votes
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