Posted on: 04th Dec, 2006 04:39am
Advanced Financial Services, Inc. is a financial institution providing mortgage lending services and bill consolidation loans. It is based in Rhode Island but it is licensed to operate in a number of states. In some states, Advanced Financial Services operates as AFS Financial Inc.
What are consumers saying about Advanced Financial Services?
In spite of getting an A+ rating from the BBB, the company has received mixed reactions from consumers who have opted for their services. They have shared their feedback about this company in our community forums. There have been complaints against Advanced Financial Services whereas some of the consumers seem to be quite happy with the services offered by AFS Financial Inc. Here's what consumers have to say about AFS (Advanced Financial Services Inc.):
While some consumers have sent their complaints against Advanced Financial Services, others are of the opinion that the company isn't pushy at all. Though the company may send you flier mails for pre-approval, they do not use your personal information, except the name and address when sending the flier mails. Some consumers claim that there may be complaints against Advanced Financial Services (as revealed in BBB reports), but the company has resolved every complaint to BBB's expectations.
If you wish to go for the services of AFS (Advanced Financial Services Inc), or if you'd like to talk to a representative at the company, you may use the contact details given below.
Advanced Financial Services
25 Enterprise Center
Newport, R1 02842
Phone: 1(800) 644-3327
Fax: 1(800) 333-3450
Website: "http://www.myafsloan.com/"
- Affiliation: The company claims to be approved by Fannie Mae/Freddie Mac and the HUD but consumers are quite skeptical about it as they haven't found details of the affiliation on the websites of Fannie Mae/Freddie Mac or HUD.
The company says they are an active member of Mortgage Bankers Association of America and the National Home Equity Mortgage Association. But consumers say, the websites of these organizations do not speak about any affiliation with AFS. - Delayed closing: A borrower missed signing 2 documents but the loan officer at AFS didn't inform him about it. Instead, he kept delaying the closing. The person made repeated calls and each time he was given a closing date, but nothing actually happened. Finally, the borrower called and he was told that his loan has been denied. They cited the reason that he hasn't paid the first mortgage payment. But it wasn't the borrower's fault because the loan wasn't yet closed.
- Advertising low rates: AFS may send you mails promising to approve you for a bill consolidation loan at a low rate of interest. But once you go through the loan process, you may be approved for a loan at a much higher rate. Thus, you may not be able to save as much as they initially promised you.
- Dispute over financing issues: A guest in our forums has spoken about his dispute with AFS Financial Inc. regarding a mobile home loan. He says he had a very bad experience with the company. He had faxed the required papers to AFS for a mobile home loan approval. He had even paid them around $375 for the appraisal and finally he came to know that the company doesn't lend mobile home loans. After repeated calls and messages, the person could only get $100 as refund.
- Flier mails: The marketing department at AFS (Advanced Financial Services, Inc.) may send you mails stating that you're pre-approved for a bill consolidation loan. But this doesn't mean that you're approved. You'll have to go through the entire loan process in order to get an approval. So, it may be just a flier mail to promote the products of AFS and make you contact them in case you wish to choose their services.
- Response to customer calls: The official website of AFS (Advanced Financial Services, Inc) says the company is fast in approving loans. But there are consumers who have sent all necessary paperwork to AFS for pre-approval only to get no response from them even after repeated phone calls and email messages.
While some consumers have sent their complaints against Advanced Financial Services, others are of the opinion that the company isn't pushy at all. Though the company may send you flier mails for pre-approval, they do not use your personal information, except the name and address when sending the flier mails. Some consumers claim that there may be complaints against Advanced Financial Services (as revealed in BBB reports), but the company has resolved every complaint to BBB's expectations.
If you wish to go for the services of AFS (Advanced Financial Services Inc), or if you'd like to talk to a representative at the company, you may use the contact details given below.
Advanced Financial Services
25 Enterprise Center
Newport, R1 02842
Phone: 1(800) 644-3327
Fax: 1(800) 333-3450
Website: "http://www.myafsloan.com/"
Related Forum Discussions
Had anybody use Advanced Financial Services, Inc. (AFS)? They sent me a preapproval file in the mail. They list their address as 25 Enterprise Center, Rhode Island, 02842 with an 800 number.
I too have often wondered who is offering good, reputable debt consolidation loans these days?
So many finance options have dried up lately and interest rates are horrible with risk-based pricing based on credit score... you often have to have an extremely high FICO to get a decent rate and often a person who is carrying debt doesnt have a super high credit score just due to the debt level (even if they have a perfect payment history) It's sort of a catch-22.
So many finance options have dried up lately and interest rates are horrible with risk-based pricing based on credit score... you often have to have an extremely high FICO to get a decent rate and often a person who is carrying debt doesnt have a super high credit score just due to the debt level (even if they have a perfect payment history) It's sort of a catch-22.
Even I'm not aware of debt consolidation loan providers. I guess going for a debt consolidation program is a better choice.
I received a pre-approved offer and I could really use it, so if anyone can vouch for this company please do so.
well i don't know what kind of offer you have received. Can you tell us more about it.
I too have received a packet stating that I have been "pre-qualified" for a FHA Bill Consolidation Loan. I believe there is a difference between a "pre-qualification" and a "pre-approval". I am not sure if the statements made here, or the questions are truely regarding a 'pre-approval' or 'pre-qualification'. As stated here by others, approval can only be obtained by means of application in which you disclose your finacial information, credit history, wages etc. and then sign and date that you have made not knowingly made any fraudulant statements. If that has not happened, you cannot be pre-approved. Pre-qualification, on the other hand is nothing more than and offer to file an application. There is no guarantee, implied or otherwise, that you will actually receive approval for either the loan amount they state you are "pre-qualified" for or that you will receive the interest rate they have stated.
What I believe is taking place, and this is my own opinion, is these companies use this type of mailer to get folks to call the 1-800 number thinking they are 'pre-approved' when in fact they are not. Then, however once they have you on the phone the sales pitch begins and they will attempt to convince you that should at the very least allow them to 'put a package' together for you showing you just how much you can save by consolidating your debt through re-financing. They will be very carefull note to guarantee anything, especially the final amount or the interest rate.
I am not implying that what they are doing is in any way illegal or that companies that imploy this tatic are not completely legitimate. They may very well be very good companies, this is just another marketing tool that, while it may seem to some is borderline on the ethics, is used to get you to talk to them. Once the dialog starts, you MUST pay close attention to EXACTLY waht is being offered.
I know this is long, apologies, but I just thought somone should step in here and clarify things. Go back and look at the documents you have received in the mail and double check weather it states 'pre-qualified' or 'pre-approved'. Hope this helps.
What I believe is taking place, and this is my own opinion, is these companies use this type of mailer to get folks to call the 1-800 number thinking they are 'pre-approved' when in fact they are not. Then, however once they have you on the phone the sales pitch begins and they will attempt to convince you that should at the very least allow them to 'put a package' together for you showing you just how much you can save by consolidating your debt through re-financing. They will be very carefull note to guarantee anything, especially the final amount or the interest rate.
I am not implying that what they are doing is in any way illegal or that companies that imploy this tatic are not completely legitimate. They may very well be very good companies, this is just another marketing tool that, while it may seem to some is borderline on the ethics, is used to get you to talk to them. Once the dialog starts, you MUST pay close attention to EXACTLY waht is being offered.
I know this is long, apologies, but I just thought somone should step in here and clarify things. Go back and look at the documents you have received in the mail and double check weather it states 'pre-qualified' or 'pre-approved'. Hope this helps.
Hi Jones!
Pre-qualified means that you may be offered a mortgage loan. Whereas pre-approval means that you submit a loan application to the the mortgage company or lender and go through various formalities so that your loan is finally approved.
You can check the following page to know more about pre-qualification and pre-approval.
http://www.mortgagefit.com/qualification-approval.html
You will also come to know about the factors that are taken into considered for Pre-qualification and the documents required and factors involved in Pre-approval.
Thanks,
Jerry
Pre-qualified means that you may be offered a mortgage loan. Whereas pre-approval means that you submit a loan application to the the mortgage company or lender and go through various formalities so that your loan is finally approved.
You can check the following page to know more about pre-qualification and pre-approval.
http://www.mortgagefit.com/qualification-approval.html
You will also come to know about the factors that are taken into considered for Pre-qualification and the documents required and factors involved in Pre-approval.
Thanks,
Jerry
Making money is their bottom line, like any business. The problem I have is what they will allow their employees to get away with. Complaints of serious unethical behavior falls on deaf ears. I would make sure all information, points especially, are checked and double checked.
Hi Guest!
You are absolutely correct in saying that. One has to be very careful while choosing the lenders and judging their credentials.
Thanks.
You are absolutely correct in saying that. One has to be very careful while choosing the lenders and judging their credentials.
Thanks.
The document that they send out is actually a pre-qualified offer. Based on a list they bought from some company you do business with they send out these letters. They solicit for their business through the mail. They have good standing with the BBB. I know there is something in regards to a case regarding fraudulent practices in the early 2000's - I belive that was rectified with that CEO (CFO???) leaving.
As another stated this is a refinance/consolidation loan.
Just remember regardless of how much they offer you or how much you get - you have to make sure you can physically pay for it yourself. Regardless of what they say you can afford - you know what your monthly bills are and what payment you are comfortable with. Many of these foreclosures may have been due to companies giving too much, but remember each loan was signed by the home owner who agreed to receive that money. Just be smart about what you can afford :)
As another stated this is a refinance/consolidation loan.
Just remember regardless of how much they offer you or how much you get - you have to make sure you can physically pay for it yourself. Regardless of what they say you can afford - you know what your monthly bills are and what payment you are comfortable with. Many of these foreclosures may have been due to companies giving too much, but remember each loan was signed by the home owner who agreed to receive that money. Just be smart about what you can afford :)
Has anyone had a good experience with AFS 25 Enterprise Center, in Rhode Island? We are considering re-fi'ing our mortgage.
Hi Apache!
I haven't heard much about them but what I can find out from Internet was that they offer alternate financial services and a lot of people have good experience with them. You can find a detailed description on AFS 25 Enterprise Center in the link mentioned below:
http://www.mortgagefit.com/know-how/about5856.html
Please have a look what the community members have to say about the company.
Thanks.
I haven't heard much about them but what I can find out from Internet was that they offer alternate financial services and a lot of people have good experience with them. You can find a detailed description on AFS 25 Enterprise Center in the link mentioned below:
http://www.mortgagefit.com/know-how/about5856.html
Please have a look what the community members have to say about the company.
Thanks.
Any body took a loan from this company currently?
Hi Thelma!
Are you taking a loan from them? Did you face any trouble while dealing with them? You can discuss the experience with this company at this forum. To know more about the company, you can also visit the link mentioned in the above post and have a look what the experts have to say about the company.
Thanks
Are you taking a loan from them? Did you face any trouble while dealing with them? You can discuss the experience with this company at this forum. To know more about the company, you can also visit the link mentioned in the above post and have a look what the experts have to say about the company.
Thanks
jameshogg
your link posted above is just the link to this page...what was the link you were intending to provide?
your link posted above is just the link to this page...what was the link you were intending to provide?
Hi Walt!
I am extremely sorry for the inconvenience caused to you. You can refer to the link given below.
http://www.mortgagefit.com/know-how/about5856.html#54475
I hope it will help.
Thanks
I am extremely sorry for the inconvenience caused to you. You can refer to the link given below.
http://www.mortgagefit.com/know-how/about5856.html#54475
I hope it will help.
Thanks