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success or horror stories with lendingtree.com affiliates?
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 2009-04-24 2:39 PM |
Master  3546     Millersville, MD |  Subject: success or horror stories with lendingtree.com affiliates?I'm currently mortgage shopping and have spoken with a number of local lenders through referrals from my real estate agent and financial planner, but also filled out a lending tree application to compare rates/terms. |
| 2009-04-24 2:59 PM in reply to: #2108552 |
Pro 4909 Hailey, ID | Subject: RE: success or horror stories with lendingtree.com affiliates? I don't see the problem. Either lender, local or internet based will probably sell the loan in 6 months anyways. Get the best deal you can and make sure to read the entire contract before you sign anything. |
| 2009-04-24 3:06 PM in reply to: #2108552 |
Champion 14571 the alamo city, Texas | Subject: RE: success or horror stories with lendingtree.com affiliates? i didn't use lendingtree.com but i did initially look at them. all the companies that contacted me were pushing cheap ARMs and other creative loans. luckily i had people to advise me against this. i went with a normal bank that gave me a conventional mortgage...in short, they are only bad if you don't know what you want...just like any mortgagor, really. |
| 2009-04-24 3:48 PM in reply to: #2108595 |
Veteran 177 | Subject: RE: success or horror stories with lendingtree.com affiliates? bradword - 2009-04-24 2:59 PM I don't see the problem. Either lender, local or internet based will probably sell the loan in 6 months anyways. Get the best deal you can and make sure to read the entire contract before you sign anything. x2 |
| 2009-04-24 4:12 PM in reply to: #2108595 |
Expert 1456 Central New Jersey | Subject: RE: success or horror stories with lendingtree.com affiliates? Try to stay away from ARM if you can. It might be more $ right now for a fixed rate, but if rates go up you can get hosed. Good luck. |
| 2009-04-24 8:07 PM in reply to: #2108552 |
Extreme Veteran 809 Central New Jersey | Subject: RE: success or horror stories with lendingtree.com affiliates? A couple years ago when we were looking to refinance our current mortgage, we looked into lending tree. We had two of their companies contact us with great rates and we requested they send their offer with the rates and details in writing so that we could review it. They sent us a lock in rate form that was blank. Told us to sign it and return it and then they would fill in the info. We told them not to contact us again. We ended up with a great fixed rate mortgage from Ditech that was not a compromise. I have never gone back to Lending Tree. Good luck! |
| 2009-04-24 9:24 PM in reply to: #2108552 |
| Delaware, OH | Subject: RE: success or horror stories with lendingtree.com affiliates? Lending Tree was the first place I looked when I purchased my home 5 years ago. Mortgage company was horrible- and when I called Lending Tree to tell them what was going on they said that there was nothing they could do. I would find a company that isn't going to sell your mortgage- I did a refi with INGdirect.com and I LOVE THEM! I do have a 5 year ARM because I will be selling 2 years before it comes up- but I had the offer for a 20 or 30 year fixed. |
| 2009-04-24 9:53 PM in reply to: #2109244 |
Pro 4909 Hailey, ID | Subject: RE: success or horror stories with lendingtree.com affiliates? k_watzek - 2009-04-24 8:24 PM Lending Tree was the first place I looked when I purchased my home 5 years ago. Mortgage company was horrible- and when I called Lending Tree to tell them what was going on they said that there was nothing they could do. I would find a company that isn't going to sell your mortgage- I did a refi with INGdirect.com and I LOVE THEM! I do have a 5 year ARM because I will be selling 2 years before it comes up- but I had the offer for a 20 or 30 year fixed. Unless...I don't know, the housing market crashes. ARMs can be bad news because of the risk you take if something unexpected happens. Getting and adjustable rate when rates are at all time lows doesn't sound like a good plan to me. Sounds like the only place they can adjust is up  . |
| 2009-04-25 8:03 AM in reply to: #2108552 |
Master 3546 Millersville, MD | Subject: RE: success or horror stories with lendingtree.com affiliates? thanks for the feedback folks. I plan to drop the profolio folks at the first hint of something fishy (like the blank form requesting signature - yikes). I am of course comparing apples to apples between the different companies, and only interested in a conventional mortgage. |
| 2009-04-25 12:41 PM in reply to: #2109279 |
| Delaware, OH | Subject: RE: success or horror stories with lendingtree.com affiliates? bradword - 2009-04-24 10:53 PM k_watzek - 2009-04-24 8:24 PM Lending Tree was the first place I looked when I purchased my home 5 years ago. Mortgage company was horrible- and when I called Lending Tree to tell them what was going on they said that there was nothing they could do. Unless...I don't know, the housing market crashes. ARMs can be bad news because of the risk you take if something unexpected happens. Getting and adjustable rate when rates are at all time lows doesn't sound like a good plan to me. Sounds like the only place they can adjust is up I would find a company that isn't going to sell your mortgage- I did a refi with INGdirect.com and I LOVE THEM! I do have a 5 year ARM because I will be selling 2 years before it comes up- but I had the offer for a 20 or 30 year fixed. .I agree in certain situations ARMs are bad ideas. However I did save about 1.5% getting an ARM vs a 30 year fixed. I own a 110 year old historic home. I am not worried about not being able to sell it in 2 years time. I have the same square footage as all the new builds and am 100,000 less. While other houses in my town have gone down in value, my grand old lady has stood the test of time. |
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