Why I recommend not using online lenders

NovaStar Home Mortgage Inc. and two other lenders accused of engaging in bait-and-switch tactics on the online mortgage-lead-generation site Bankrate.com have been hit with a $46 million judgment.

Without admitting fault or liability, Bankrate in October agreed to pay American Interbanc $3 million to settle allegations that the company did little to prevent lenders from engaging in bait-and-switch tactics.

July 10, 2007 by Realtor John Wake

About The Author

John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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