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 just read someone who is really not happy with this company. they are losing their house and blame this company for it. Not completely sure if that is valid, but thought you would want to know there are unhappy customers out there.
Stay away from this company. I applied and sent all the documents back on10/06/08. Two weeks passed and nothing. I called my loan officer and he told me I missed signing two documents. Okay so when was this idiot going to call me and tell me. That was taken care of. Then again, nothing. I call again. Now its an old mortgage that was never released. He said another ten days and we will close. Ten days l;ater, nothing. I call and now we need something else. Finally I get angry and call last week and he promises to close by 11/11. Today I get an email that the loan was denied because I was late with octobers mortgage payment. That was his fault because he promised to have the loan closed before the end of the month. FHA does not reject a loan for one late payment.Even his supervisor new nothing. Not a company you want to trust.He didn't even have the courtesy to call me and tell me. He sent an email.
Hi linda,
Thanks for sharing your experience with the the community members. A lot of people will be benefited from this.
Thanks.
Thanks for sharing your experience with the the community members. A lot of people will be benefited from this.
Thanks.
I have done business with AFS. They are fabulous. the AFS that was mentioned in the lawsuit is not the same company as someone else stated. The pre-approvals are really just a solicitation. A way to get their name out there. They have used none of your personal information, except name and address, when choosing whom to mail these to. In the industry, they are called "mailers". Check them out. In my experience with them, they are not pushy at all.
This is a very long running thread!
But I have picked up something valuable from the last few posts that I think should be highlighted. This isn't addressed to any one person in particular. These are mistakes I very commonly see happening in the mortgage process.
First, if you are in the process of refinancing a home, realize that - depending on the company and the timing and your individual circumstances - the process could take anywhere from 10 days to 6 weeks and that is all within a normal range of processing times. Still, do expect to be contacted regularly without having to chase down your loan officer.
Second, please do not ever let a payment be late while in the process of getting a mortgage no matter what the loan officer says or when they say you will be closing. There are many hundreds of details that all must come together to get a loan to the closing table. These can range from something you filled out wrong that didn't get noticed through mistaken liens that don't belong on your property to incompetence of your mortgage broker, their lender, the appraiser or the closing agent. Any one of them can delay your closing. At the bottom line, no one is ever going to hold any of those people responsible for your credit.
So if the loan officer tells you that the closing will be on Wednesday but your payment will be 30 days late on Tuesday, go ahead and make the payment before then. I can't stress strongly enough that the people wrongly telling you to wait before making your payment will not be there to help when something goes wrong.
This hasn't come up in this thread, but it is a related issue. Don't sign anything you haven't read and don't understand. No matter what pressure the salesman may put on you. No matter how long it takes you to read it.
But I have picked up something valuable from the last few posts that I think should be highlighted. This isn't addressed to any one person in particular. These are mistakes I very commonly see happening in the mortgage process.
First, if you are in the process of refinancing a home, realize that - depending on the company and the timing and your individual circumstances - the process could take anywhere from 10 days to 6 weeks and that is all within a normal range of processing times. Still, do expect to be contacted regularly without having to chase down your loan officer.
Second, please do not ever let a payment be late while in the process of getting a mortgage no matter what the loan officer says or when they say you will be closing. There are many hundreds of details that all must come together to get a loan to the closing table. These can range from something you filled out wrong that didn't get noticed through mistaken liens that don't belong on your property to incompetence of your mortgage broker, their lender, the appraiser or the closing agent. Any one of them can delay your closing. At the bottom line, no one is ever going to hold any of those people responsible for your credit.
So if the loan officer tells you that the closing will be on Wednesday but your payment will be 30 days late on Tuesday, go ahead and make the payment before then. I can't stress strongly enough that the people wrongly telling you to wait before making your payment will not be there to help when something goes wrong.
This hasn't come up in this thread, but it is a related issue. Don't sign anything you haven't read and don't understand. No matter what pressure the salesman may put on you. No matter how long it takes you to read it.
Ditto. Has anyone out there spoken to an AFS representateive directly on the phone? Has anyone been approved? I'm looking for a consolidation loan, not a re-fi. What is the interest rate of the AFS consolidation loan?
With banks freezing lending and credt card companies shrinking credit lines, of course there will be lending outfits jumping in to lure people with such offers. But do we know if they have integrity?
With banks freezing lending and credt card companies shrinking credit lines, of course there will be lending outfits jumping in to lure people with such offers. But do we know if they have integrity?
Hi lmelton!
I was visiting the official website of AFS and got their contact number. Its 1-800-644-3327. You can speak to a loan officer with the help of this number. Its better if you speak to them directly and get the details. To know more about them and what the community members feel about them, you can check the following link:
http://www.mortgagefit.com/know-how/about5856.html#54475
Thanks,
Jerry
I was visiting the official website of AFS and got their contact number. Its 1-800-644-3327. You can speak to a loan officer with the help of this number. Its better if you speak to them directly and get the details. To know more about them and what the community members feel about them, you can check the following link:
http://www.mortgagefit.com/know-how/about5856.html#54475
Thanks,
Jerry
Hi, I called to see what they could do for me on 11-6-08 after being layed off from my job. I have a home loan fixed at 6%, $805 mth. (with insurance included) owing $110,232 on the house, (2) C/C bills getting close to being max-out @ $2200 each, and (2) car loans with intrest rates above 9%, with a total debt of @ $162,800. Things are starting to get tight for my wife and I, and I was trying to lower some monthly bills. I was told I would have to fill out a credit application, have my credit report pulled from all 3 reporting agencies and if I was approved for the loan, there would be clossing cost (which I could pay or have added to the loan value) and the intrest rate would be determined by my credit score..which is 724. The flier I recieved in the mail said the intrest rate was fixed at 6%. This was NOT the case.I was approved at 7.9%. So to make a long story short, my payement would be $1183.71 mth. for all bills to be wraped in one loan vs. $ 2192.54 paying them as I do now, which would save me @ $998.83 mth. by consolidation, but this could be done with most lenders using your home, cars, ect. for collateral as all of these items are owned by my lenders anyway. So, use your own judgement , but it can be done....I'm still trying to decide in my own case with the offer good through 12-5-08...Scared of market , lenders mailing fliers and FHA at this time. Hope this was help someone in their case
i had recently received a letter from them too, and talked to them for refinancing. They will ask you to get an appraisal for your own benefit, but appraisal fee will come out of your pocket cost about $350. Im looking for dbt consolidation co. that is trustworthy, any idea? I will appreciate it.
Hi
To FirehouseSmokers!
If you are looking for a FHA loan, then I must say that it is not a credit score driven loan. You can get a FHA loan with as low as 580 credit score. Moreover, they had send you an interest rate by roughly estimating you credit, income and other details. Once you get finally pre-approved, it is easier for them to tell you the exact interest rate you need to pay.
You have mentioned that you are planning to lower some of your monthly bills. For that it is better if you can go for a debt settlement or a debt consolidation rather than going for a FHA loan.
Thanks a lot for sharing your experience with the community. Do keep the community updated so that the experts here may help you in a better way.
To mabext!
I know of a community who offer debt consolidation - "debtconsolidationcare.com". You can check out their website and also contact the financial coach who will help you to decide the best option.
Thanks,
Jerry
To FirehouseSmokers!
If you are looking for a FHA loan, then I must say that it is not a credit score driven loan. You can get a FHA loan with as low as 580 credit score. Moreover, they had send you an interest rate by roughly estimating you credit, income and other details. Once you get finally pre-approved, it is easier for them to tell you the exact interest rate you need to pay.
You have mentioned that you are planning to lower some of your monthly bills. For that it is better if you can go for a debt settlement or a debt consolidation rather than going for a FHA loan.
Thanks a lot for sharing your experience with the community. Do keep the community updated so that the experts here may help you in a better way.
To mabext!
I know of a community who offer debt consolidation - "debtconsolidationcare.com". You can check out their website and also contact the financial coach who will help you to decide the best option.
Thanks,
Jerry
I have just received a Bill Consolidation Loan Acceptance letter from them as well. I am curious. My mother is on a local board at our local bank. I will check with them and other financial people as well to see what I can learn. I am not gullable and will investigate and reply as soon as possible.
If anyone else has any info please forward it to "kimmy_123_41339@yahoo.com"
[Link deactivated as per forum rules. Thanks.]
If anyone else has any info please forward it to "kimmy_123_41339@yahoo.com"
[Link deactivated as per forum rules. Thanks.]
Hi Blondie,
I guess you have not applied for the Bill Consolidation Loan. In that case, you should immediately contact them seek an explanation from them.
Thanks
I guess you have not applied for the Bill Consolidation Loan. In that case, you should immediately contact them seek an explanation from them.
Thanks
I just closed an FHA 30 yr fixed loan from them tonight. Refinanced an interest only ARM into a very good rate on a fixed rate mortgage. They are very responsive and keep you informed at all times of any changes or documents you need to supply. I too was skeptical at first after receiving one of their mailings but decided to call about 2 months ago. Had to do some leg work on my own to get the documents they needed, but it was well worth it to get a more secure loan and peace of mind. Hope this helps. :D
Hi captkc,
Thanks for sharing your experience with the community. Yes, it's always better if one does some research about the background of the company with which he or she is applying the loan with. Moreover proper documentation of all the details is also very important.
Thanks for sharing your experience with the community. Yes, it's always better if one does some research about the background of the company with which he or she is applying the loan with. Moreover proper documentation of all the details is also very important.
If it's american financial solutions, then it's a debit management company that I used in 2003 though 2006. They helped us with our credit card debits (very please with them).