Lending Tree = useless

[WickedLou9]

So I was looking at refinancing my mortgage and I decided to try Lending Tree. When banks compete right? haha. yeah right.

So I got a couple of offers or bids that came in. One of them was pretty good so I contacted the company and started working with them.
When I get to the actual paperwork, the rate I was quoted, 5.25%, has now jumped to 5.65%. The closing fees I was quoted in my Lending Tree bid were 800 dollars. When the paperwork arrived, they were 5500 dollars.

So what is the point of ever using Lending Tree if the bids are not binding? A company like this can just put in a low bid to get your attention and then change the numbers a few weeks into the process.

I want what you told me you could give me... If you put in a bid for 5.25%, that is what I expect to get from you. If you suddenly raise it a half point on me, take a fucking hike. I don't need that kinda shady crap.

[Stylerod]

That sucks. I thought about trying them out for our car loan. I just ended up getting the loan through Car Max though. It was probably higher interest than if I would have spend some time going other places but we hope to pay the car off within a year anyway so it's not going to make that much difference.

[Ardentfrost]

which company was it? I found my current loan prospect through lending tree and he seems to be doing pretty good.

[WickedLou9]

Originally Posted by Ardentfrost

which company was it? I found my current loan prospect through lending tree and he seems to be doing pretty good.

A smaller local company.

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