Can anyone tell me if lendamerica.com is legit? They sound too good to be true.

Fr_Chuck

What sort of deal have they offered,

There were doing alot of government insured loans, and was in the higher risk market before the bottom fell out.

Lend America Offers Consumers Relevant Mortgage Solutions | RISMedia

alconnell

It is a refinance deal for my sister. She asked me to look into the company. As they seem to be the only ones who will approve her, I am suspicious. There have been horror stories of so-called rescue lenders winding up owning people's homes.

Fr_Chuck

They may as many lenders do, have much higher interest rates and esp ARMS, where the rates go up greatly in a few years.

The only reason they end up owning peoples homes is that people borrow more than they can afford, or take out ARM that adjust very high in a year or two.