Has anyone ever used Lending Tree or Dietech for a loan?

[Stripersniper]

I keep seeing ads on tv and computer for these sites. Has anyone had any experience with these sites? just wondering if they are legit. They do have some really good deals.

[Tower Todd]

Never used either but did hear about Lending Tree getting busted for predatory practices and basically screwing people. Be cautious!

Tower Todd

[steeptek25]

I also believe they are predatory lenders

[GALAZIO]

It might be worth looking into, but I used E-Loan, and it couldn't have been any smoother or easier. Also, QuickenLoans was very helpful and professional.

[BrothaBob]

Stay away from Lending Tree........you basically have to put a $600 before you are "officially" approved. This is a fee that you get credited in the final paper work. Oh, did they mention the fee wasn't refundable?!?!!

They tell you the rate you are getting is going to be good until they get the $600 and then that one time you were 2 days late, 9 years ago, added 2 points to the interest.....oh......and they really push the 30 year loan. I can't remember how many times I told them "I want a FIXED RATE SECOND MORTGATE FOR 15 YEARS" Not a variable rate. They guy kept telling me that is not what I really want. I said repeat after me....FIXED RATE SECOND MORTGAGE FOR 15 YEARS and then told him that if mentioned anything other than that I wanted to speak to his boss because he was apparently to stupid to handle my paperwork. 2 minutes later, he mentioned and a minute later I had his boss on the phone and repeated the process with him stating don't mention anything other than a FIXED RATE SECOND MORTGAGE FOR 15 YEARS. Do you know that ******* tried to pull a fast one and we caught it at settlement.......He balloon paymented the loan. So little principal was being paid it might as well be an interest only loan. Needless to say, the second mortgage ended up somewhere else because they applied the $600 credit towards the first and I had no more obligations.

I will NEVER use lending tree again.

Ditech.com.........they are ok.....don't believe all the ads and their interest rates they advertise, you going to need a great credit score or better to get that rate. I think its over 730 but the process is easy and they seem to know what they are doing.

[capt. woodward]

http://www.ftc.gov/bcp/conline/pubs/tmarkg/loans.htm

[Stripersniper]

Thanks for the info. Sounded too good to be true and there had to be something going on.

[stockweiser]

As a realtor, I am always nervous to recommend a "discount service". I know it is very expensive for me to work in the real estate field and I can't give away too much. Just like everything else....you get what you pay for. If I were you, I would interview several LOCAL loan officers. Look for their knowledge and expertise when interviewing. Always and I mean ALWAYS ask for a good faith estimate. I can't tell you how many people get sucked into a good rate but they find out that the loan they are getting costs them 1 or 2 points up front. Or, they have admin fees that are extremely high. Good luck and just remember "buyer beware"!!!!