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2.4

Applied with Third Federal THREE WEEKS ago for a Home Equity Line of Credit. Just heard back today I was denied.

What really sucks is that a quick review of my application on DAY 1 would have revealed a deal-killing item based on their strict qualification requirements. Why they didn't do a quick pre-qualification based on my information and spare me hours and weeks of wasted time is beyond me.

So donโ€™t waste time with applying with Third Federal if you have less than perfect credit or are self-employed. Go with your local community bank or credit union who can evaluate and grant loans to people with situations that are not black and white, or perfect.

Reason of review: Poor customer service.

Monetary Loss: $25000.

Preferred solution: Change your business processes to not *** consumers off.

Third Federal Pros: Low rate.

Third Federal Cons: Strick qualification guidelines, Slow processing and underwriting, Only apply if you have perfect credit.

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