Complain about a product or service

Lending Tree

Dyane of Nyc NY (09/09/08)
I have 4 homes, a great paying job, a Primere customer at HSBC and Citibank and I was turned down by the one company that turned up. What a disappointing service.

Damage to Credit

Donna of Colcord, OK August 28, 2008

Donna of Colcord OK (08/28/08)
Dear Lending Tree Victims, I just want to thank you for your online information. I always check Consumer Affairs.com now when I'm about to purchase anything. I'm sorry so many of you have been hurt. But I'm very grateful you were bold enough to make statements to help protect others. I will not be contacting Lending Tree, and I already had their form filled out when I remembered I needed to check for complaints about them. I deleted it.

Gregory of Everett, WA August 19, 2008

Gregory of Everett WA (08/19/08)
Just over three years ago my wife and I built a 480 square foot addition to our home consisting of a 5th bedroom and a home media room. Before signing the loan for the addition our home which is roughly 1600 square feet was appraised for 328,000. We figured that the 80,000 additionl would increase the value quite a bit.

This week we started to consider refinancing and contacted Lending Tree who told us we had to make a payment of 600.00 in order to proceed with the loan process. This would cover the cost of an appraisal and other things as well and would be applied to our total loan. I estimated our home may now be worth close to 350,000+ having 5 bedrooms, 3 bathrooms and a home media room as well. Tom at Lending tree said this all sonded good and gave me estimates of the monthly payments, interest rates and APR which all sounded good.

Two days later an appraiser showed up and walked both inside and outside our home. I made some idle chit-chat with him and discussed what he thought our home was worth. He said it would be difficult to determine since there are very few homes to compare it to in our neighborhood.

Yesterday, we received a call from Tom at Lending Tree who said he had some bad news that our appraisal came in and it was only for 289,000! (39K less then what it was appraised for just over three years ago without the addition. He then said because the loan to value had dropped that my interest rate junmped and closing costs nearly doubled to almost 9,000 because I was required to purchase mortgage insurance too. Well, this angered me, but what was even more frustrating was that my wife and I found out they only appraised the upstairs of our house or 995 square feet because they said downstairs is basement. A basement? We have two bedrooms, bathroom and a media room that has a sliding glass door out to the backyard! Tom stated that because we live in a split level home that downstairs is a basement. By that analogy then I guess going upstairs to the masterbedroom, kitchen or living room means we are in the attic.

Anyhow, I demanded to speak with a manager who refused to refund me any of my 600.00 and when I asked if I could hire my own appraiser they would not accept it. My wife and I are now out 600.00 and I'm almost certain that my credit is being pulled because as many stories that I've read, I'm receiving calls and emails from other lenders that I have not contacted. I will not do business with Lending Tree ever again and highly recommend that others don't either.

My wife and I have already filed a complaint with the BBB and our state secretary. We are considering also filing a small claims against them as well because of their shady business practice.

Christina of Tampa, FL July 30, 2008

Christina of Tampa FL (07/30/08)
I have to concur with a comment made about Lending Tree. I am in the process of shopping for prices and found out that the potential lenders are all checking my credit without my permission. As I speak, my credit score is dropping. Lending Tree should include a disclaimer about the negative impact of shopping around. If it affects my ability to purchase at a good rate, I will sue them.

Jim of Show Low, AZ July 25, 2008

Jim of Show Low AZ (07/25/08)
Had the same dissapointing experience with lending tree that most people did. Took my 600 up front and didn't come through as they say they will. Don't bother using them if you are looking for financing.

Renata of Brooklyn, NY July 24, 2008

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