The strength of LendingHome is that is there is a broad selection of properties to invest in. However, I have found that when borrowers fail to pay, LendingHome is very bad about communicating with investors about the status of the loan or their efforts to collect.
I have one loan that is in default for the second time, now over 90 days overdue, and despite repeated inquiries, LendingHome has not told me what they are doing to collect. I have invested in other platforms where defaults have occurred, and I can say that lending home is much worse than Patch of Land, for example.
Bottom Line: No, I would not recommend this to a friend
Michael, any chance we could get in contact? I am having issues with LendingHome as well, and I would like to chat. Thanks!
Contact me at: Lendhfraudcase [at] gmail.com.