CHARLOTTE, N.C., April 5, 2007 – LendingTree today launches ARM Central, a new Web site developed specifically to address the questions and concerns of homeowners who are facing – or have lived through – an adjustable rate mortgage reset.
Located at www.lendingtree.com/arm, ARM Central is the go-to source for objective information about adjustable rate mortgages. The site features Suze Orman, America’s most recognized expert on personal finance, who shares her advice for homeowners with ARMs through detailed streaming videos.
In addition, the site showcases a thorough list of questions and answers an ARM holder needs to ask themselves before making a change to their mortgage; the details of a sample ARM facing a payment adjustment; a step-by-step refinance tutorial; and the many options homeowners have to refinance.
“Many homeowners with adjustable rate mortgages just don’t know or understand what lies ahead with their monthly mortgage payment,” said Bridget Smith, editor-in-chief, LendingTree.com Smart Borrower Center. “This was the impetus behind creating ARM Central and developing a helpful tool for ARM holders. Regardless of all the doom and gloom surrounding ARMs, there is good news. Rates remain historically low so that means homeowners have options and ARM Central is here to help.”
According to the Mortgage Bankers Association, more than $1.5 trillion worth of ARMs face reset before the end of the year. Borrowers with an ARM could expect their interest rate, which may have been close to 4 percent if they originated the loan in 2003, to rise to 7.5 percent after it adjusts. ARMs make up approximately 25 percent of all outstanding mortgage debt, although that percentage is dropping as current 30-year fixed rates are hovering around 6 percent, which makes refinancing an attractive option for many.
In addition to ARM Central, the LendingTree customer care team is available around the clock by calling 1-800-555-TREE. Here, hundreds of loan specialists are on hand to answer questions about ARMs and to walk homeowners through their options.
To take a tour, hear from Suze Orman, and learn more about adjustable rate mortgages, check out www.lendingtree.com/arm.
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 20 million loan requests and $152 billion in closed loan transactions. LendingTree provides access to mortgages and refinance loans, home equity loans/lines of credit, auto loans, personal loans, credit cards and high-yield savings accounts via www.lendingtree.com and 800-555-TREE.
Launched in 1998 with headquarters in Charlotte, North Carolina, LendingTree, LLC is part of IAC Financial Services and Real Estate, an operating company of IAC (NASDAQ: IACI), which also owns or operates LendingTree Loans sm, LendingTree Settlement Services, LLC, GetSmart®, RealEstate.comsm, Domania®, and iNest Realty, Inc.