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.
Capone, why do you show a different picture each time you post a comment ? Just curious, as I really am skeptical and want to be careful also. thanks for the input.
Yes they are my accounts. So whats the bottom line, do you think I got scamed? They are supposed to be ligit.
Thanks for saving me $375.00 If it sounds to good to be true, it is Bull
Your welcome New Yorrk Dan. I truly believe I got ripped off. I have refinanced a couple times before and it was always done within 30-45 days. I can't even get a response from this so called loan officer. Maybe the company IS legit but this guy is sure giving them a bad name in my book
gaylab1, unless someone chooses a specific avatar or uploads a picture, the picture that appears on each post changes. i hope that's sufficient explanation.
interesting name choice...
interesting name choice...
I received one, too. And I also get offers from Citibank, Bank of America, and others. So, you cant just assume it is fraudulant because of pre-approval; approval is based on your current credit rating. So these companies are simply target/marketing a group of us with good credit.
Makes sense to me :)
In this economic climate there are no guarantees!
Makes sense to me :)
In this economic climate there are no guarantees!
guaranteed is that your mailbox will be full of preapproved mortgage offers, your voice mail will be full of recorded pap disguised as a real person with whom you have already spoken, and, finally, that you'll get real sick and tired of all this foolishness in a hot minute.
Yes, I recently received a newsletter in the mail today. First time I have heard of them. Are the a legit company?
Is there way to bring a law suit against this company if you feel you have been scamed?
Hi,
To kathy,
I haven't personally dealt with this company, So I won't be able to tell your whether or not it is legit. It would be better if you could research a bit about them and then take a loan from them.
To Victom,
If you feel you've been scammed, then you can definitely file a lawsuit against them.
Thanks
To kathy,
I haven't personally dealt with this company, So I won't be able to tell your whether or not it is legit. It would be better if you could research a bit about them and then take a loan from them.
To Victom,
If you feel you've been scammed, then you can definitely file a lawsuit against them.
Thanks
received the qualified flyer of 417,00 w/ 5% fixed interest rate yesterday.
After reading and doing research I am throwing it away.
? though. . .we are currently in debt with credit cards, we are able to make the pmts, paying a FEW extra dollars to one, (read David Ramsey's book), but it really is getting us no where b/c of the high debt. And have to use the cards in tough situations, deleting the few extra dollars sent in.
So, wondering if anyone has any info. on a reputable credit counselor that would be able to consolidate all credit horrors into one horror w/ a decent rate?
And how long does this affect your credit score, looking at selling the home in 2 - 3 years and getting a new one.
Thanks in advance
After reading and doing research I am throwing it away.
? though. . .we are currently in debt with credit cards, we are able to make the pmts, paying a FEW extra dollars to one, (read David Ramsey's book), but it really is getting us no where b/c of the high debt. And have to use the cards in tough situations, deleting the few extra dollars sent in.
So, wondering if anyone has any info. on a reputable credit counselor that would be able to consolidate all credit horrors into one horror w/ a decent rate?
And how long does this affect your credit score, looking at selling the home in 2 - 3 years and getting a new one.
Thanks in advance
Welcome chalkdusthid,
You need to check out the local debt consolidation companies in your area and know about their programs. If you feel that you can afford any of their programs, you can go ahead with them. However, before enrolling with any debt consolidation company, check out their credibility. You can speak to people who have experience working with them. This will help you know whether their customers are satisfied with them or not.
As far as credit effect is considered, initially it can have a negative effect but as you start paying off the debts according to the plan, it will have a positive effect on your credit.
You need to check out the local debt consolidation companies in your area and know about their programs. If you feel that you can afford any of their programs, you can go ahead with them. However, before enrolling with any debt consolidation company, check out their credibility. You can speak to people who have experience working with them. This will help you know whether their customers are satisfied with them or not.
As far as credit effect is considered, initially it can have a negative effect but as you start paying off the debts according to the plan, it will have a positive effect on your credit.
Today, July 28, 2009, I checked with the BBB, and this company is non-existing. So beware, this is a SCAM. This company is not a reliable company. I am a Representative myself for a different company. I check with the BBB everytime I have a question.
Check under legal name Advanced Financial Services, Inc. They are listed but have no rating. Check Hud fannie and freddie websites and they are also listed
there are so many fly by night companies with no good intentions so i get very catious when doing financial business