CHARLOTTE, N.C., May 10, 2006 - The 50-year mortgage, while still new, is gaining in popularity with some homebuyers, allowing them to keep low monthly payments in an environment where interest rates and home prices are rising. The question is: should consumers finance their greatest asset for a half a century?
According to Anthony Hsieh, president of LendingTree.com, "Mortgage lenders are getting craftier with their product offerings to get the attention of consumers.”
The market has "come a long way," said Hsieh, referring to the days when consumers had few choices beyond a 20 percent down payment with a fixed rate mortgage. “The lending environment has certainly changed, and it’s critical for consumers to slow down and take the time to understand the products they’re being offered.”
For more information about becoming a smart borrower, please visit the LendingTree Knowledge Center, www.lendingtree.com/cec. Here, consumers will find hundreds of articles and related tools to help them make informed and empowered borrowing decisions.
About LendingTree, LLC
LendingTree, LLC is the nation’s number one online lending exchange, providing a marketplace that connects consumers with multiple lenders that compete for their business. Since inception, LendingTree has facilitated more than 18 million loan requests and $141 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, and credit cards via www.lendingtree.com and 800-555-TREE.
Founded in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating business of IAC/InterActiveCorp (NASDAQ: IACI), which also owns or operates LendingTree Loans, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.com®, Domania®, and iNest®.