Tree mortgage?

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I had a personal loan with any of those who applied, “Lending Tree” type brokers, where they shop for a loan for you. Then yesterday I received a call from a company called “Mortgage Lending Tree “They knew me on the loan amount, what I was looking for and other details, but I’ve never heard of them. I can not find it on a site work for them again but my wife said she saw commercials for it on television. Does anyone know anything about this company?

3 Comments
  1. Reply
    Barbara R
    May 3, 2011 at 6:46 am

    They are a company who will search the lenders for you and what you need, then turn around and get a nice fat finder’s fee from them. Who pays it? You do in the end in your closing costs and I guarantee you it will be a high cost.

    It looks like they have switched you from a Personal Loan to a Mortgage.

    There are so many gimmicks out there, it’s sickening.

    Your best bet is to look around your city or town and find an office of a mortgage company (if you think a mortgage will do the trick). If your credit is good, the better choice is a local bank. Once you find the place, make an appointment with a loan officer and talk to them. They are established, not fly-by-night, and not another company found on the internet. I don’t trust any of them, I have heard too many horror stories.

    Check your newspaper for foreclosure notices and you will be shocked at how many are losing their homes. Alot of it is “tricky” mortgage companies you have never heard of….the rest is the economy.

    It’s your money, be very careful. Find a local lender.

    Good Luck!

  2. Reply
    Digger
    May 3, 2011 at 6:49 am

    LendingTree is nothing more than a lead generation site. Mortgage companies buy leads from LendingTree. So when LendingTree advertises that you have lenders competing for your business, that’s only because they sold your application info to a bunch of different companies. I have no doubt that Mortgage Tree Lending is nothing more than some broker working out of his spare bedroom who came up with that name. (Great name for a mortgage company buying LendingTree leads, by the way. I wish I’d thought of that!)

    Bottom line, call a few national mortgage lenders and compare their offers. You’ll get calls and emails for months now that you’ve filled out the LendingTree application.

    Good luck!

  3. Reply
    Block B
    May 3, 2011 at 6:52 am

    Hi,

    Hundreds of companies born every month for personal loans. But, you will have to be careful and don’t ever pay anything in advance in the guise of processing fee to get a loan. You can visit http://personalloan.friendlymarket.info for some useful tips and info on obtaining a personal loan. Good luck!

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