We've seen social media begin to change the face of business and we are excited to be a part of it. For us, social media is more than just a trend. Sites like Twitter and Facebook give us unique opportunities to build relationships with our customers and lenders in ways we couldn't before.

Clay Shirky said it best, "these tools don't get socially interesting until they get technologically boring. It isn't when the shiny new tools show up that their uses start permeating society. It's when everybody is able to take them for granted."

Here is how we are utilizing the following services to better serve you: We check Twitter consistently for mentions of LendingTree and ensure people are getting an experience that represents our values. We love hearing your honest feedback, so if you Twitter, please follow @LendingTree and let us know how we can help.
http://twitter.com/LendingTree

With Facebook, we have an opportunity to build stronger relationship with our fans and customers. If you love LendingTree, and want to interact with our team on a more engaging basis, we suggest connecting with us on Facebook.
http://facebook.com/LendingTree

Can't get enough of Adam West? Are you guilty of watching our "You To The Rescue" commercials online? If so, you can follow our latest creative work at YouTube.
http://youtube.com/LendingTree

Last but not least, you can subscribe to all of the LendingTree article and blog content via RSS. You will find all of our feeds at http://www.lendingtree.com/smartborrower/rss-feeds/ Today, as social media sites become common place, we are extending our participation in these communities to better serve you.

Our presence on YouTube, Twitter, and Facebook embody our "You To The Rescue" spirit, and put you--the consumer--in the drivers seat. And that's just the way we want it. We hope you reach out to say hello and we look forward to your comments.

On Thursday, the Senate agreed to continue the popular home buyer tax credit and offer a new tax break to homeowners who want to move up to middle-market homes.

The tax credit for first-time home buyers, which was scheduled to expire at the end of November, is considered by economists to be a major contributor to the increase of nationwide home sales. Under the bill, both first-time and existing homeowners would be able to take advantage of the expanded program through April 30, and close by June 30, 2010.

The government-backed program would continue granting an $8,000 tax credit to first-time home buyers and would provide a new $6,500  credit to property owners looking to move up to middle-market homes (with a purchase limit of $800,000) who have lived in their home for at least five consecutive years out of the last eight.

The first-time home buyer tax credit, along with record low mortgage rates and reduced home prices, has led to a rush by qualified buyers to close purchases before the November expiration.

Economists from the National Association of REALTORS®, which has strongly favored the extension, estimate that the current tax credit has contributed approximately $22 billion to the general economy, and approximately 2 million people will take advantage of the tax credit this year.

In addition to the tax credit extension, some states offer additional financial incentives for first-time home buyers. For a full list of state-by-state rates, please visit www.lendingtree.com/mortgage-loans/rates/.

President Obama is expected to sign the tax credit extension into law on Friday, November 6, in an effort to stabilize the battered housing market, stimulate the economy and create jobs.

There are only a few more hours to submit your film creation for LendingTree's $10,000 video commercial contest. Put the final touches on your work and submit your video to Tongal by tonight at 5:00pm EST.

If you aren't the creative type, that's ok. You can still win something when we give our community a chance to predict the winner. Go to Tongal.com and pick the top videos in the same order as the judges for a chance to win.

Two weeks later the judges will announce the winner of Phase 2 awarding them $7,650 for their video production. The person that predicted the outcome and the contestant with the most views will also win cash prizes.

This is our way getting you more involved in the messages we share with our community. We appreciate your participation and we look forward to seeing what our next commercial might look like, thanks to YOU.

If there’s one thing we’ve all learned from the financial meltdown, it’s that bigger isn’t always better.

This CNBC.com article by Jennifer Woods gives a great explanation about how the best mortgage deals can often be found at smaller banks and lending institutions.  Plus, it features some words of wisdom from our very own Darren Beck:

“One of the things that always gets me is that people will spend weeks or months pondering the purchase of a digital camera,” says LendingTree’s Beck, "but when they go to get a mortgage they often just go with whatever bank with which they do their checking."

In fact, the article states that on average, people spend eight hours researching the purchase of a car, but only five hours researching a home loan. Once you stop and consider how much a mortgage will really cost you over the life of the loan, it makes sense to ensure you're getting the very best deal possible.

That’s why it's always a good idea to compare at least four different loan offers from four different lenders. Keep in mind that offers are different than quotes. A rate quote is generally not customized to your personal financial situation, and the actual rate and term you’re offered can vary greatly after the lender checks your credit.

No matter where you decide to shop for a loan, remember that you're in control. Ask questions, do your research, and negotiate, negotiate, negotiate!

The first phase of our $10,000 video contest on Tongal.com is now complete and we’re excited to share the top 5 winning concepts with you. These were chosen out of 99 submissions—congratulations to the winners!

1. Don’t Sleep On Your Finances                   $1,000
   Tina R. - Kennebunk, ME
   Daughter replaces elderly mom's mattress as a surprise. Panicked Mom says that's where she kept her savings. Garbage truck pulls away. Mom knocks kid off bike and starts chasing truck. Don't sleep on your finances. New financial tools to take on a new financial world.
2. Wrong Tool for the Job                                 $300
   Barry B. - Atlanta, GA
   Shots of people trying to use the wrong tool for the job such as: writing with a nail on a chalkboard, cutting wood with a knife, trying to blow up a balloon with a car exhaust. Cut to a man with a LendingTree toolbelt who has the right tools.
3. Troublesome Toolbelt                                  $150
   Jacob S. - Vista, CA                                         
   Man 1 shows off his homemade financial toolbelt, which has computers, books, and all sorts of gadgets attached. It also weighs a ton, and makes getting out the door nearly impossible. Man 2 offers a solution: LendingTree's online toolbelt.
4. What’s Your Super Power?                         $125
   Ad S. - New York, NY
   Ask real people: If you could have a superpower what would it be? Show typical responses. Now offer/demo MR features as REAL powers e.g. "see your future" (by saving for it), make your credit score super-strong, etc. Show happy reactions, music, end.
5. Superhero Training Facility                         $100
   Nick M. - Culver City, CA
   Now that ordinary people have become their own hero, and Superheroes are now out of work, Lending Tree has set up a training facility. One that teaches out of work superheroes coping skills and how to use the LendingTree toolbelt.

PHASE 2 -- Create a Video
Now it’s time for you to bring these concepts to life! In Phase 2 of our contest you choose one, or more, of the top 5 concepts (above) to create a 30-second video commercial for LendingTree. We’ll award over $7,000 in cash to the top 5 winners.

We’ve pulled together a short FAQ to help you along:

Must I use the 1^st place concept for my video? No, you can choose any of the top 5.

How much does the 1st place video win? $5,000

Do I need to create the concept exactly as it is written? No, you have full creative freedom to tweak the concept as needed. If you find a funnier, better way to communicate the concept, go for it!

Can I submit a video, even if I didn’t submit a concept? Yes, absolutely. The video phase is open to everyone!

Does it have to be shot on commercial-quality video equipment? No, not at all. Grab any video camera and start filming. Of course, if you’re lucky enough to own some high-quality equipment, then by all means…

When is the deadline to submit a video? October 26

Want more info? Ready to enter? Go to Tongal.com.

Oh, to be a first-time home buyer again! Folks jumping into the housing market today have several distinct advantages I would have loved when I bought several years ago. Yes, first-time home buyers today are facing a rocky economy, stricter lending standards, and a still-volatile housing market, but there’s also a silver lining to this cloud. Here’s a rundown of things first-time home buyers should be thankful for – and take advantage of:

1. The first-time home buyer tax credit
$8,000 in your pocket is nothing to scoff at. The government has instituted up to an $8,000 tax credit for first-time home buyers (or buyers who haven’t owned a home for at least three years).. Some lenders even let you apply this amount toward your closing costs or down payment. For more details on the credit, read our story “New tax credit for home buyers.” And remember, the tax credit is set to expire Nov 30th, 2009, so if you want to take advantage, you may want to start your home search soon.  

2. Lower housing prices
Of course all real estate is local, so if you happen to live in an area where home values are still rising, congratulate your friends who bought there and skip to number three. If you’re like the rest of us, you may have noticed that housing prices are getting more affordable. Lower values aren’t good for current homeowners, but they do spell opportunity for first-time buyers. 

3. More regulation
Many people see “regulation” and their eyes glaze over, but some recent regulatory changes may just improve your home buying experience. For example, new rules that went into effect on July 30th, 2009 require lenders to disclose loan fees and terms three days before the borrower pays for anything more than having her credit score pulled. What’s more, a new Good Faith Estimate (GFE) coming in January 2010 will help borrowers understand and compare their loan options.

4. More awareness
You may be sick of hearing housing market talk dominate the evening news, but unless you’ve been living under a rock for the past few years, you’ve probably learned a few lessons from this whole mess: Rising home prices aren’t a sure bet, a bigger down payment is better, a good credit score is key, and risky, exotic loans are, well, risky. If nothing else, the last few years have helped raise awareness that owning a home isn’t necessarily a road to riches (to paraphrase Neal Templin from the Wall Street Journal). It can be a solid part of your financial plan, but it’s a major decision that involves careful consideration, research, and a serious look at your finances. If buyers entering the market today avoid buying more home than they can afford and take the time to ask questions and read the fine print on those loan documents, I’ll call that a silver lining. 

So when I was refinancing my house, I could never shake that feeling in the back of my mind that there was something better out there: better closing costs, a better rate, maybe even a better loan product.  How was I ever going to be sure that I was getting a good loan offer and shouldn’t continue the loan shopping process?  Well I was lucky.  I work in the mortgage industry and have numerous friends that work in the industry to help guide me.  And then it occurred to me: not everyone is that lucky.

Enter the LendingTree “Look Before You Lock” tool.  We’ve made it super simple.  Before you lock your mortgage, give us a little information about your loan offer and we’ll compare it to our network of initial lender offers and third party pricing and show you how you fared.  We’ll even tell you areas of your loan where you may have room for improvement. With our "Look Before You Lock" tool, now YOU have a friend in the mortgage industry, too.

Peace of mind is a valuable thing.  If you have a loan offer in hand, don’t delay – “Look Before You Lock” today!

FHA loans have been all over the news lately.  Back when I was getting my mortgage, I didn’t even consider one.  But in today’s market, you might want to have a look.

An FHA mortgage loan is insured by the Federal Housing Administration.  (It’s important to note that the FHA doesn’t make loans, it just insures them.)  Lenders can offer these loans after going through an approval process – so that means you can shop around for an FHA Loan.

Typical advantages of an FHA Loan include lower down-payment requirements and closing costs, and an easier qualification process.  These features often make FHA loans a good choice for first-time homebuyers.  Be sure to evaluate all of your options though, including conventional loans – you can find out if you may be eligible for an FHA loan with our easy-to-use FHA Qualifier.

Do you have a great idea for a LendingTree commercial? Do you love creating videos? Do you dream of becoming a famous film director? If you answered “yes” to any of these questions, it’s time to enter LendingTree’s $10,000 Video Commercial Contest at Tongal.com.

What is Tongal? Tongal.com is a new crowdsourcing site that allows anyone (you) to compete against others by submitting their creative ideas and/or videos to win cash. Becoming a Tongal.com member is free and is open for anyone to join. So, what’s the catch? There isn’t one,  Tongal.com is simply connecting companies like LendingTree with creative people like you to develop great commercials. We believe there are many untapped creative people who just need an outlet to express their ideas and share their talents with the world -- whether you are a marketing pro or not. This is your opportunity to prove us right. And Tongal.com provides your outlet. 

Here’s how the contest works:

Phase 1: Concept (Deadline August 28, 2009)                          
Cash Awarded: $1,675
Submit your creative ideas for a new 30 second commercial for LendingTree’s new “You to the Rescue” campaign. The new site features a superhero toolkit which includes the new MoneyRight tool--an online personal money manager to help you budget, plan, and really take control of your finances. Top 5 will concepts will be chosen and awarded cash.

Phase 2: Video (4 weeks)
Cash Awarded: $7,650
Develop and produce a 30 second commercial based on one of the top 5 concepts from Phase 1. Top 5 video submissions will be chosen and awarded cash. (Winners will be announced after the Prediction Phase).

Phase 3: Prediction (2 weeks)                                  
Cash Awarded: $925
Simply pick the top videos in the same order as the judges and win cash.

Ready to enter? Phase 1 has officially started, so visit Tongal.com to get more details and earn your way to becoming LendingTree’s newest commercial film director.