DeepGreen Financial - Home-equity lender
2007-01-31
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stories: housingwire.com
Housing wire reports (link above) that DeepGreen was founed in 2000 and originated over $5bln in home equity to over 65,000 customers in 47 states.
The company was based in Cleveland but served customers all over the country. It was bought out in 2004 by a private equity firm, Lightyear Capital (those of you who think private equity is somehow smarter than average should take note).
Bakersfield Bubble delivered this lead and reports that the web site of Deep Green has dropped off the face of the internet, but the following statement was available through Google's cache:
Life is full of expenses... A home equity line of credit or home equity loan from DeepGreen Financial is a great way to pay for education, home improvement and life's other big expenses like a new car or wedding. And, because the interest you pay may be tax-deductible, it's ideal for debt consolidation and often a better choice than a credit card.
Ah, yes. It's like free money. As long as everyone believes it exists.
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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.