If your mortgage payments are out of control, it can feel like your home owns you instead of the other way around. If this sounds familiar, today's top mortgage refinance loans can help you regain control of your monthly finances. When Star Reviews took on some mortage refinance research, we knew we'd have to dig deep to find the crème de la crème of mortgage refinance lenders. LowerMyBills was one of the popular mortgage refinance websites we came across. We liked their simple, yet functional website interface, but continue on for the whole scoop below.
What's New?
- Interactive mortgage refinance calculators.
- Access to hundreds of tips from financial experts.
- Compare quotes from different lenders.
Star Reviews Favorite Feature:
We really like the Tips and Advice section of the LowerMyBills.com website. Borrowers can access expert answers to frequently asked questions, helpful financial tools, how-to advice, more than two-hundred free financial tips and more. It's really a great resource.
The LowerMyBills Experience:
We need to advise you that our experience with the LowerMyBills.com website was less than ideal. However, this wasn't the case at first. When we first accessed the site, we were impressed by the resources, tips and articles. But when we clicked on the “Loans” and then “Home Refinance Loan” links, the trouble began.
When we clicked the “Home Refinance Loan” link, we thought we'd be taken to a page explaining what LowerMyBills had to offer, what the process entailed and how they could help us refinance a mortgage. Alas, this just wasn't the case.
Instead of bringing us to an informative sub-landing page, we were taken to a form asking for information about the type of loan we wanted. There were only three basic questions to answer, so we figured “what the heck” and gave the site what it asked for. Unfortunately, this did not get us the information we were hoping to find. It simply brought us to another page asking us for more information.
Now, we figured there wasn't any harm in providing the information asked for on this new page because they still weren't asking for anything personal. Just our zip code, the year we purchased the home, how much it was worth and how much we owed as well as a few other general questions. We gave them what they wanted and hoped for the best.
Now, it was at this point we started to get frustrated. We still weren't given any information about LowerMyBills' home mortgage refinance options. We were just asked for more information – and this information was personal. Now the site wanted to know how much money we made each year, our specific address and year of birth as well as our email address. Again, we provided the site with the information it requested and hoped for the best.
The next page we were brought to told us that the site had a problem processing our request and told us to call their 800 number. It did this all three times we tried. We finally called the 800 number to get to the bottom of what was going on. Turns out that LowerMyBills.com is another one of those lender referral services that doesn't clearly disclose that fact up front. You don't get instant quotes online. You get calls from multiple lenders trying to get your business. This was pretty disappointing.
LowerMyBills Features:
- Interactive mortgage refinance calculators
- Expert tips and advice
- Online quote request form
LowerMyBills Customer Support:
LowerMyBills.com offers customer service via email, live chat and toll-free phone. Unfortunately, neither option seemed very helpful. We couldn't successfully connect to a live chat session if our lives depended on it and calling the toll free number was an enlightening experience to say the least. Our hold time was five minutes and we waited that time only to receive the “runaround” when we asked the rep a question. We finally got a straight answer, but only after being very blunt and less than polite. Email support never even bothered to get back to us. All in all, it was a less-than-ideal experience.
Upside:
Wealth of information can be found on website, compare offers from different lenders.
Downside:
Not completely up-front about what their website offers.
Summary:
We thought that LowerMyBills was going to be a great mortgage refinance experience when we first pulled up their page. However, we were thrown for a loop-literally. They are not a direct lender and finding information on their services was pretty difficult, we must say. After we had entered all of our information (on multiple pages) the site kept having 'problems' accessing our request and we were told to call the 800 number. But, customer support was a hassle here. Live chat would not connect numerous times and our telephone rep gave us 'the runaround' instead of up-front answers. We didn't hear back from email customer support. Overall, the LowerMyBills.com website experience wasn't our favorite.