Equity Home Loans

Has anyone had any experience with a home equity loan search with Lending Tree or Ditech? does it work well?

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Public Comments

1. I used Lending Tree, oh, several years ago and was pretty pleased with the results as I was able to obtain a home equity loan from "Deepgreen Financial" for a good rate. Lending Tree gave me several hits from lenders and I chose DeepGreen financial.
2. I didn't like lending tree. Using it resulted in a lot of junk mail (that I am still getting 3 years later) and phone calls.
3. I used Lending Tree years ago, was very unhappy with the lender we ended up with, mostly because of lousy customer service. You would call, get put into the press this key queue, wait, wait, eventually talk to a live person, get put on hold, more waiting, talk to another person, get put on hold, wait. It was an exercise in frustration. We dumped that disaster ASAP. I agree about the junk mail, good gosh, that took ALOT of phone calls to stop all the solicitations generated from that stupid move. This was where I began to appreciate the value of a local lender who cares about customer service and can answer your questions, also doesn't say one thing, then do another.
4. If you are a first time borrower of a home equity loan it is imperative that you have a checklist of essential questions that you need to ask each and every lender. The answers to these questions will provide a valuable reference to base your comparisons on. What’s the interest rate? Knowing this is crucial. The interest rate will determine<!--the monthly payment you will need to make. You also need to know if the interest rate is of a fixed or adjustable nature. Fixed rate implies that the monthly payments will remain constant, while an adjustable rate implies that rates will fluctuate depending on market conditions. http://best-loans.awardspace.com/homeloans.htm In adjustable rate, when will rates change? If your interest rate on the home equity loan is of the adjustable variety, you need to know three things: when the rate is going to change (that is under what conditions), how frequently will the rate change and what’s the average-->percentage by which the adjustable rate will change. What is the Annual Percentage Rate or APR? The APR on the home equity loan will determine the yearly payment you will need to make towards this.The higher the payment in terms of points, the lower is the interest rate.