"When Banks Compete, You Win" This is the slogan of Lending Tree. It is very attractive for potential borrowers, right? But do you have any idea what Lending Tree is all about? There have been many lending tree complaints from past and current customers.

Lending Tree is an online mortgage lender that would scout for lenders that would fit to your loan requirements. When you go to their site, you will be asked to fill out a form stating pertinent information including that which would allow prospective lenders to pull up your credit report form the bank. Lending Tree promises not less than four companies to be able to get back to you about your loan as soon as you fill out their form. For a time being, this online mortgage lender was very popular, until some Lending Tree complaints were raised against them.

A person's credit score is very important for him to get a valid loan from a reputable bank or lender. In the case of Lending Tree however, since the information that you fill out do not include all important details for a certain lender to properly appraise you, the prospective lender will need to pull up your credit report several times. Sometimes lenders would get to pull up your credit report for a dozen times before even contacting you. When this happens, your credit score is really affected.

So for some people who wish to take out a loan through Lending Tree, whether for a card credit debt elimination, or for a home mortgage, better make sure that you can stand your credit score going down, if not, try to seek out a local lending company instead.

They say that most lending institutions have hidden charges applied on your bill. This is also found in the list of Lending Tree complaints.

Those who were able to secure a loan using Lending Tree, find out sooner or later the different hidden charges that the online mortgage company will be adding to your total monthly bill with the lender. The sad part about this is that, Lending Tree states that that they do not charge you for coming up with the leads to the different lenders, and that the lenders are the ones that pay Lending Tree $9 each. With four lenders promised to answer to your application, they get $36 every time, plus the $1000 that they get for a closed loan.
 
If you look at it more closely, lenders, being business entities themselves, would always find a way to get back what they invested in shelling out initial fees to have you take out your loan from them. And have you tried to consider the best way to do this? It is to charge you with additional fees.

While Lending Tree happens to advertise that you do not need to pay them for finding the right lender for you, despite all these, if you try to go to their licenses and disclosure page, you will find that the lenders would charge you a whopping $1300 once you close the loan with any of them. This is the sum that you will pay for using Lending Tree to find your lender.

Most people have balked at the thought of using Lending Tree, stating that they would rather spend days on the phone inquiring about each lender than spend a minute or two filling out the forms of Lending Tree.

All these Lending Tree complaints prove to be very disadvantageous. From the number of times of credit report pull ups, hidden charges added, up to the $1300 unknown fee, these complaints are sure to put you on a difficult situation.