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.
Hi Guest,
Thanks for sharing your experience with the community. Hope it helps a lot of people.
Wish you a Merry Christmas.
Thanks
Thanks for sharing your experience with the community. Hope it helps a lot of people.
Wish you a Merry Christmas.
Thanks
I Recieved an official offer in the mail stating that they could refin on my home and pay some bills down. They stated that they were Freddie Mac and fannie may accredited. SO I started a lrefinancing/loan with them. tt is now Jan. the 2 and still no close as of yet. I also went on the internet just last night and did some research (something I should have done from the start)
I found alot of Advanced Financial services on the BBB with an A+ rating, BUT I realized that they all may not be the same. On their site, they state that they have been open since 1983 and work out of three places So I typed their address in and it shows NR...not reviewed and the address in Penn. shows another lender that has xhanged their name. not the same apparently...NOW I AM WORRIED SICK..I GAVE THEM 375.00 TO APRAISE MY HoME AND WE'RE VERY CLOSE TO CLOSING. THEN i READ ABOUT THT LARRY GUY WHO RIPPED PEOPLE OFF FFROM THERE. i JUST DONT KNOW WHAT TO DO. PLEASE HELP
SUSAN
I found alot of Advanced Financial services on the BBB with an A+ rating, BUT I realized that they all may not be the same. On their site, they state that they have been open since 1983 and work out of three places So I typed their address in and it shows NR...not reviewed and the address in Penn. shows another lender that has xhanged their name. not the same apparently...NOW I AM WORRIED SICK..I GAVE THEM 375.00 TO APRAISE MY HoME AND WE'RE VERY CLOSE TO CLOSING. THEN i READ ABOUT THT LARRY GUY WHO RIPPED PEOPLE OFF FFROM THERE. i JUST DONT KNOW WHAT TO DO. PLEASE HELP
SUSAN
hi susan!
welcome to forums!
you have mentioned that you are very close to closing. so i guess, you haven't closed the deal with them. in that case, you can cancel the deal with them and refinance the mortgage with some other lender.
feel free to ask if you have further queries.
sussane
welcome to forums!
you have mentioned that you are very close to closing. so i guess, you haven't closed the deal with them. in that case, you can cancel the deal with them and refinance the mortgage with some other lender.
feel free to ask if you have further queries.
sussane
Pre-screen clearly says that offer is based upon credit report. I got 5.5% and used it to pay off 26% Sears card. Russ
After receiving information on a debt consolidation loan from AFS in Rhode Island and doing research on line about the company I decided to call and see what they would say.
First I found no negative information about AFS in Rhode Island. In the material sent they first say that I have qualified for a loan inside the first page but the next page states "Dear Dave, I'm delighted to inform you that you have been approved for a Homeowner Bill Consolidation Loan of up to $417,000..."
When i called and spoke with a Kevin Preble and asked if i was truly approved for the loan he got defensive and asked what was the real reason for the phone call. I stated that i wanted to get a debt consolidation loan and was glad i was already approved and i just wanted to clarify my pre-approval status. He stated that our marketing department sends those out and that i was not really approved yet and would have to go through all the normal loan process steps." When i stated that I cold find a local company in my own state that can take me through the loan process he then stated "If all you want to do is argue then you should use someone local". He hung up after that.
Looks like i will cc this to the WA State Attorney General's office.
Sorry this is so long but i thought this would save a lot of people from wasting their time with AFS and getting their hopes up.
First I found no negative information about AFS in Rhode Island. In the material sent they first say that I have qualified for a loan inside the first page but the next page states "Dear Dave, I'm delighted to inform you that you have been approved for a Homeowner Bill Consolidation Loan of up to $417,000..."
When i called and spoke with a Kevin Preble and asked if i was truly approved for the loan he got defensive and asked what was the real reason for the phone call. I stated that i wanted to get a debt consolidation loan and was glad i was already approved and i just wanted to clarify my pre-approval status. He stated that our marketing department sends those out and that i was not really approved yet and would have to go through all the normal loan process steps." When i stated that I cold find a local company in my own state that can take me through the loan process he then stated "If all you want to do is argue then you should use someone local". He hung up after that.
Looks like i will cc this to the WA State Attorney General's office.
Sorry this is so long but i thought this would save a lot of people from wasting their time with AFS and getting their hopes up.
Thanks for sharing your experience with the community members Dave. I hope this will help a lot of people.
First of all you can check out a business on the BBB yourself without asking the company.
2nd Nothing is wrong with getting a preapproval in the mail.
You get them from credit cards all the time and I have got some real good offers.
Poster: I suggest you research the company yourself internet is your friend and not listen to these nay sayers that seem like they want to scare you away from a good offer to refinance.
Pretty much they are in business to make money and they can do that by consolidating your bills.
Any business can run a conditional credit score on you and it wont affect your credit but they know pretty much what your credit score is and are making you an offer based on your credit score.
Some even mentioned staying away because you got an offer in the mail, if that was the case almost nobody would have any credit cards.
So please don't listen to what you are being told here.
2nd Nothing is wrong with getting a preapproval in the mail.
You get them from credit cards all the time and I have got some real good offers.
Poster: I suggest you research the company yourself internet is your friend and not listen to these nay sayers that seem like they want to scare you away from a good offer to refinance.
Pretty much they are in business to make money and they can do that by consolidating your bills.
Any business can run a conditional credit score on you and it wont affect your credit but they know pretty much what your credit score is and are making you an offer based on your credit score.
Some even mentioned staying away because you got an offer in the mail, if that was the case almost nobody would have any credit cards.
So please don't listen to what you are being told here.
Do not get debt settlement this is very bad advice.
Because not only is the payment through the roof it will affect your credit score negatively.
Because not only is the payment through the roof it will affect your credit score negatively.
Very good rate and I have around a credit score of 580 (regular banks will not touch me) as someone mentioned before on FHA loan credit score has nothing to do with it. I make good money and owe very little on my house.
I did not go thru with it yet because it seemed to good to be true. I was thinking they just wanted to get my info and hit my credit card up for $350 for the inspection.
After reading this it seems some of you have gone thru with it and others seem to think this company has been around 20 years.
I think I am going to risk the $350 and see what happens. I will be sure to let you all know how it goes.
I did not go thru with it yet because it seemed to good to be true. I was thinking they just wanted to get my info and hit my credit card up for $350 for the inspection.
After reading this it seems some of you have gone thru with it and others seem to think this company has been around 20 years.
I think I am going to risk the $350 and see what happens. I will be sure to let you all know how it goes.
i had a very bad experience with them after faxing in papers and telling them my home was a mobile home which is on all the papers also and paying them 375.00 for a apprasial weeks later they say they dont loan on mobile homes and dont want to refund money after numerous unanswered phone calls and messages we finally got back 100.00 i fell cheated and lied to
IF YOU RECEIVE A BOOKLET IN THE MAIL FROM AFS FINANCIAL INC, DO NOT BELIEVE IT, IT IS ONLY A SCAM FOR YOU TO CALL THEM AND GIVE THEM YOUR PERSONAL INFORMATION OVER THE PHONE!
THE BOOKLET SAYS IT IS FROM:
AFS FINANCIAL INC,
FHA ACCEPTANCE DEPARTMENT,
FOR RESIDENTS OF: (YOUR CITY, STATE, AND ZIP CODE)
AND IT READS:
"IMPORTANT DOCUMENT ENCLOSED
DO NOT IGNORE: THIS IS A PRE-QUALIFIED OFFER (FOR UP TO $271,050 FOR SURE AND POSSIBLY EVEN MORE)!"
I HAVE CHECKED THE OFFICIAL WEB SITES OF:
MORTGAGE BANKERS ASSOCIATION OF AMERICA (MBA),
FEDERAL HOUSING ADMINISTRATION (FHA),
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD),
BETTER BUSINESS BUREAU (BBB),
AND NOT ONE OF THEM HAS ANY INFORMATION ON OR AFFILIATION WITH AFS FINANCIAL INC.
THE FUNNY THING IS ON THE LAST PAGE OF THE BOOKLET AFS SENDS YOU, IT STATES THAT THEY ARE PROUDLY ASSOCIATED WITH
MORTGAGE BANKERS ASSOCIATION OF AMERICA, FEDERAL HOUSING ADMINISTRATION, AND THE BETTER BUSINESS BUREAU.
BENEATH THAT UNTRUE STATEMENT OF AFFILIATION IS COPIED THE EQUAL HOUSING LENDER LOGO, TO TRY TO PASS IT OFF AS BEING LEGITIMATE.
PLEASE DO NOT FALL FOR THIS SCAM!!!
THE BOOKLET SAYS IT IS FROM:
AFS FINANCIAL INC,
FHA ACCEPTANCE DEPARTMENT,
FOR RESIDENTS OF: (YOUR CITY, STATE, AND ZIP CODE)
AND IT READS:
"IMPORTANT DOCUMENT ENCLOSED
DO NOT IGNORE: THIS IS A PRE-QUALIFIED OFFER (FOR UP TO $271,050 FOR SURE AND POSSIBLY EVEN MORE)!"
I HAVE CHECKED THE OFFICIAL WEB SITES OF:
MORTGAGE BANKERS ASSOCIATION OF AMERICA (MBA),
FEDERAL HOUSING ADMINISTRATION (FHA),
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD),
BETTER BUSINESS BUREAU (BBB),
AND NOT ONE OF THEM HAS ANY INFORMATION ON OR AFFILIATION WITH AFS FINANCIAL INC.
THE FUNNY THING IS ON THE LAST PAGE OF THE BOOKLET AFS SENDS YOU, IT STATES THAT THEY ARE PROUDLY ASSOCIATED WITH
MORTGAGE BANKERS ASSOCIATION OF AMERICA, FEDERAL HOUSING ADMINISTRATION, AND THE BETTER BUSINESS BUREAU.
BENEATH THAT UNTRUE STATEMENT OF AFFILIATION IS COPIED THE EQUAL HOUSING LENDER LOGO, TO TRY TO PASS IT OFF AS BEING LEGITIMATE.
PLEASE DO NOT FALL FOR THIS SCAM!!!
Twice I've received a pre-approval letter from AFS. And TWICE I've been turned down for a consolidation loan (based on the low equity I have on my house at the moment).
What's confusing is that in the second letter it states they've "reviewed my situation again" and apparently it was to their satisfaction. But alas, it wasn't meant to be...and maybe I should be thankful for that.
What's confusing is that in the second letter it states they've "reviewed my situation again" and apparently it was to their satisfaction. But alas, it wasn't meant to be...and maybe I should be thankful for that.
Hi everyone,
What IS the story with this company?
I have read the posts and it just seems to go both ways.
Would somebody who HAS already used them and has done business with them , PLEASE let the public know.
Many of us are looking for that reputable company that can save our homes, credit and sanity duirng these economic times.
I would like to know how one can verify this company's validity and CONFIRM the value of doing business with them.
Public records DON'T always include what these companies do and their true track record.
It would be nice to see this information made available to the consumer and help them to NOT end up in a more serious situation than they are already in.
Thanks R.C.
Atlanta, Georgia
What IS the story with this company?
I have read the posts and it just seems to go both ways.
Would somebody who HAS already used them and has done business with them , PLEASE let the public know.
Many of us are looking for that reputable company that can save our homes, credit and sanity duirng these economic times.
I would like to know how one can verify this company's validity and CONFIRM the value of doing business with them.
Public records DON'T always include what these companies do and their true track record.
It would be nice to see this information made available to the consumer and help them to NOT end up in a more serious situation than they are already in.
Thanks R.C.
Atlanta, Georgia
I just received the letter. My husband and I were very excited to get a great interest rate and clear up some of our debt. My score is 750. But, after reading all the posts on this forum, we decided to not do it and just work with our bank instead. Plus, doing this would lower my credit score.
I see "Buyer Beware" all over it now. Thanks for all the posts. I have shredded this mailing and am on the phone to get my name on the list to stop sending "prescreened" SCAM mailings. Such as this one.
It's hard to keep a high credit score. I think it's by not falling for these.
I see "Buyer Beware" all over it now. Thanks for all the posts. I have shredded this mailing and am on the phone to get my name on the list to stop sending "prescreened" SCAM mailings. Such as this one.
It's hard to keep a high credit score. I think it's by not falling for these.
I received an offer from Advanced Financial Services (AFS) as well and decided to check with the BBB (Better Business Bureau) since they proclaim to be "proudly associated with." I found AFS with an A rating (it was not this lending company) and I found Advanced Financial Services with an A+ rating (again, not this company) I found NOTHING for this particular company. Had I not carefully read the BBB report describing the other two mentioned companies I would have thought it was the company that was offering me the loan. Seemed suspicious and deceptive to me.....