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'm also curious about this AFS, did you ever figure out if they are legitimate?
Who regulates AFS ADVANCED fINANCIAL SERVICES INC and how do we contact the regulators to make sure the Bill Consolidation Loan Acceptance is legit?
Every State banking department regulates all Lenders who operate in their state
As I read the postings it hit me - the positive responses could easily be make by AFS. Clark Howard says to NEVER use solicited loans. IF you need one do it yourself through whomever is best for you after you do your research.
For me to be pre-approved, this company must know something about me. If they know that much about me, why would they offer me a 30 year loan? They probably have my medical history which tells them that I'll still be around at 103 to continue paying off this loan.
I don't trust anyone who says "the last time we talked" when I never even heard of him.
Just received my own. Called them, they stated it is a pre-approval until they do app and check credit...How is that a pre-approval? Anyway, I asked several questions. They offer 5% (5.48 APR). Not unless you have top of the line credit. If that were the case why would I need them. I could go anywhere. They also said that they get reports with names and address from the 3 major credit bureaus but no social or anything else. Then they send out these "pre-approvals".
well, go figure, that there are outfits like this making blind phone calls referring to previous conversations that never existed.
you might think it had something to do with the general public being so unsophisticated as to believe some of the nonsense that comes over the phone lines, the internet and in the mail.
oh wait...that's why these scams have proliferated! wow...how do we put a stop to them? only by alerting every single person who has a phone, an internet connection or a mailbox.
you might think it had something to do with the general public being so unsophisticated as to believe some of the nonsense that comes over the phone lines, the internet and in the mail.
oh wait...that's why these scams have proliferated! wow...how do we put a stop to them? only by alerting every single person who has a phone, an internet connection or a mailbox.
Scooter be careful. I do not like your APR being about a half point higher than your interest rate.
I, too, have just received a "Bill Consolidation Loan Acceptance" in the mail from AFS Financial, Inc. and wanted to know if this was a legitimate company. I searched for their name and phone number (which is 1-800-644-3327), and found that this is Advanced Financial Services in Rhode Island, and I also found their website at myafsloan.com.
I've read all 8 pages of this thread, but am still not sure about actually consolidating with them, even though they do have an "A" rating with the Better Business Bureau. Though, this does seem to be a legitimate company, I'd rather read/see more personal interactions with them. It does look like some of the people here dealing with AFS, might be dealing with a different company with the same name, which makes things confusing.
I've read all 8 pages of this thread, but am still not sure about actually consolidating with them, even though they do have an "A" rating with the Better Business Bureau. Though, this does seem to be a legitimate company, I'd rather read/see more personal interactions with them. It does look like some of the people here dealing with AFS, might be dealing with a different company with the same name, which makes things confusing.
that's precisely why i suggest you know who you're dealing with, guest. if you went out and found them first and called them, that would make sense. how did they find you? random call, no doubt. why would that make you trust them?
i am not trying to say that afs is a bad company or that you should or shouldn't do business with them, but i think it's something you really need to think about before putting your foot into the water.
i am not trying to say that afs is a bad company or that you should or shouldn't do business with them, but i think it's something you really need to think about before putting your foot into the water.
Yes, I'm definitely taking everything with a grain of salt and am suspicious of these pre-approved loans that come through the mail anyway. If I do end up contacting them, I'll be sure to keep everyone updated about the proceedings.
OK. So we also got a "pre-approved" letter from them. The posts are very conflicting and it makes it hard to decide if I should even call the company. I am very skeptical of this type of thing and it is not like we are struggling. It seemed like it would be a good idea to consolidate and lower some payments but I don't want to find ourselves in trouble. I did find them on the BBB website. The address is different but the phone number is the same. They rec an A and yes there were complaints over the last three years but all had been resolved to the BBB's expectations. No they are not accredited, but I wasn't even sure that they said that on the mailing (I don't have it with me right now) Also, they are listed on the HUD list of approved lenders. All you have to do is go to hud.gov and then follow it approved lender list. I have read all these pages and it would be helpful if anyone has had dealings with them that were positive or negative because I would like to hear. Thanks for you help.
Stephanie
This still comes back to what many of us have mentioned here on this forum in the past. The person you should be concerned with is the loan officer you are working with. That person is where the rubber meets the road. Youo can have an excellent loan officer who works for a lousy company and will still get great service. In addition, you can call the most reputable company in the world and have a horrible experience if your loan officer does not treat you like family.
Do not get too hung up on the BBB.
Now, if you want to feel more comfortable about who you are dealing with, then contact one of the people here on this forum for some help with your loan. Or, work with someone who was recommended to you by a friend.
This still comes back to what many of us have mentioned here on this forum in the past. The person you should be concerned with is the loan officer you are working with. That person is where the rubber meets the road. Youo can have an excellent loan officer who works for a lousy company and will still get great service. In addition, you can call the most reputable company in the world and have a horrible experience if your loan officer does not treat you like family.
Do not get too hung up on the BBB.
Now, if you want to feel more comfortable about who you are dealing with, then contact one of the people here on this forum for some help with your loan. Or, work with someone who was recommended to you by a friend.
I too received a whole booklet from Advanced Financial Services, Inc out of 25 Enterprise Center, Newport, RI. They offer a 4.75% fixed rate for home refi and money for bills. Looks good, but am like several of you on this. When I looked up and calculation, there was no mention of 4.75%, but 6.5%. I WOULD ALSO LIKE TO HEAR FROM SOMEONE WHO HAS ACTUALLY DEALT WITH THEM. Thanx.