Shannon B Wkz
LendingTree - Lending Tree is a RIPOFF!!
I contacted Lending Tree about refinancing my house. The lady I spoke to was very nice and assured me that not only could we drop to a lower rate but we could also pull cash out and still keep out payment the same. I should have known something was fishy from yhe get go because everytime I tried to ask her questions, she just sidestepped them and kept talking about how great this deal would be. She then proceeds to tell me that she needs my credit card number for the $400 for the appraisal. I told he I would need to speakwith my husband and we would need time to think about it. She called me at least 4x a day for 3 days. Finally I called to ask her what happens if the appraisal comes in too low. She says, there is no way it should come in too low. We bought it only 3 years ago and it appraised for $158,000. However, I told her that there had been about 6 foreclosures in my subdivision, and I also looked on Zillow and they had my home valued at only $100,000. She then told me that she ha access to a database that was better than Zillow that I did not have access to and they were showing property values in my area still around $130k-$140k. She also said the appraiser was not supposed to use foreclosures as comps. So, like a fool, I gave her my credit card number, decided to go ahead with the refi, and sent in all the neccessary documentation. The appraiser came out, valued our house at $70,000?!?!?!?!?! and I have not heard from them since. I really did not hav $400 to just waste down the drain. Next time I will listen to my gut. STAY AWAY FROM LENDING TREE.
Saint Louis, Missouri
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