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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
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niiccs, i have to stop you there. the poster (most recent) indicated what he'd received in the mail, and there's no way that it is a real loan. it is just one of those millions of junk mail offerings we all get, telling us that they've set aside money for us, but if we don't take it RIGHT NOW, it will be set aside for someone else.
checking with "customer service" will do no good at all here. i doubt if they know the meaning of the words.
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George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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litisham
Joined: 23 Jun 2009
Posts: 116
-0.62 Dollars($)
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| AFS IS REALLY BENEFICIAL FOR PERSON WHO IS FACING FINANCIAL CRUNCH? |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
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if you read all of the above posts, you'll be able to make that determination for yourself. that's the purpose of the forum after all.
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George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
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to clarify a little bit...i am not at all qualified, nor do i desire to be, to comment on afs' ability to help people or to harm them. from reading what i have seen on here, however, i would have to state an opinion that anyone receiving a mailing from them not take it at face value but investigate as fully as possible.
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George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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keith
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Post subject: AFS |
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So it sounds like they get your credit information, and based on that they send this letter out, knowing you're high with credit card debt, etc. So it's enticing. It almost seems like they're doing two things - offering you a re-fi, and also acting as a debt consolidator. And that's the scary part. If i want to pay down debt the "right" way - i'm going to either pay it off from my own cash reserves, or get a loan to pay it off. Having a company contact my credit cards and negotiate a payoff is sketchy, and negatively impacts my credit rating. It sounds like - and i can't be sure - that this is one of the ways they make their money, by keeping the difference on the agreed payout.
In these tough times, it's very tempting. But like your mom always told you - if it's too good to be true, it probably is. The gentleman that worked for a hardship department at the bank said it best - if you can't pay your bills, talk to your creditors. I don't know that I've had HUGE success in talking with them, but it never cost me more money! |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
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i don't think all of the above is quite true, keith. they are not pulling a credit report, but they subscribe, no doubt, to a service that provides "leads." those who come up with the leads go through property records, which provides thousands of names of homeowners, who then get randomly called and/or mailed a solicitation.
they could not access credit files without the express permission of a prospective borrower.
and yes, they talk a "good game" so to speak. i just deleted a message this morning before i came to work that was such a solicitation. the guy stammers in his speech, as if to make it real, tells me he sees that i'm only paying my minimum payments, that i can get a 1.5% interest rate (for what? a day?), and to call him back so he can solve all my problems (i can throw away my extenze?) right away. it is so bogus that all people ought to recognize it, but there are those unfortunate many who think it's real and call back and get hoodwinked.
yes it is tempting if you are in trouble. some people think "any port in a storm" is their solution. well, this particular port isn't one in which to stop for more than a millisecond, i think.
_________________
George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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Jerome Douglas
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Post subject: AFS service so far |
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| I am in the process of buying an investment/rental property using AFS as the lender. I have found them to be very responsive, courteous, and forthright, .....so far. I am awaiting a very important appraisel which can show up no later than tomorrow or I will lose the property to another buyer. I will re-post in a week or two after the process is done. So far, so good though. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
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thanks, jerome; please do keep us posted. i'm sure afs will welcome some good publicity if that is the case.
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George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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fredwaltz
Joined: 17 Aug 2009
Posts: 60
1.12 Dollars($)
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it is a nice way to go for the validation process of what we get, and how can they offer (their credentials) so if you are promised something that is really a good deal then you should first investigate that whether it is really there or not? whether other competitiors are offering it or not?because it is not going to happen that good deals are offered by only one company.
So make your thorough analysis by visiting their customers if they happento be nearby your area or else just call them for the favor of sharing ther experiences with the company.
I hope it will add some valuee to the discussion. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
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wonderful idea if you can find their customers, fred. are you recommending that people run down to their town hall or county clerk or wherever the deeds are filed and research who has done business with this company, and then go ring doorbells? i'm not sure i can get down with that at all.
as for paragraph one, i got this: "it is not going to happen that good deals are offered by only one company." however, i'm still scratching my head about your opening sentence(?).
_________________
George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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fredwaltz
Joined: 17 Aug 2009
Posts: 60
1.12 Dollars($)
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George,
I do not want to go for the each and every county for the credentials rather if it happens to be somewhere nearby my area then only I will go for it.And How I will come to know about it, I will ask the company itself whether they have awarded this 'good deal' to anyone in my area.
As far as my first sentence is concerned, I just wanted to conclude that if at all, all the features of the offer are so good then that good deal becomes so popular that all your competitiors offer the same service sooner or later.
I hope my sentence is not that complicated. |
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leonmyerson
Joined: 24 Sep 2009
Posts: 1
1.35 Dollars($)
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I'm not sure about these companies not accessing credit reports. I got this type of offer from Chase a year ago, and it listed my credit card balances. It does make sense to me that if a lender knew what you owed, and had a ballpark idea of your home's value (Zillow or another website), they could make their offer. Of course, its still subject to an actual appraisal and confirmation of your income.
Is it true that they can help people who wouldn't otherwise qualify by directly paying off creditors rather than giving the borrower control of the entire sum? Does anyone other than AFS offer this type of package?
I'd be very concerned about the implication in some of these posts that AFS would be trying to "settle" your other debts for less than is owed rather than just paying them off. That would NOT be what I would want. Is this true? I want my debts paid in full, I'd just like a cheaper way to do that.
Would your mortgage balance then be what they actually paid out to your creditors, or are they trying to profit from the difference? If its the former, and its the only way they can make the loan, AND if you know all about it, that might be OK for some people, but certainly not most of us. |
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adonis
Joined: 22 Oct 2005
Posts: 10250
Location: ALASKA
1043.57 Dollars($)
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Hi leonmyerson,
In my opinion, it is always better to negotiate with your creditors rather than going through a third party for a negotiation. I haven't heard of such a package offered by other creditors. In order to have your debts paid in full, you will have to make the required payments. If you do not make the required payments, none of your creditors will mark it as paid in full. If you go for a settlement with your creditor it will always be marked as "paid as settled".
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Procrastination is the enemy of your financial success |
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justdeb12000
Joined: 25 Sep 2009
Posts: 1
1.28 Dollars($)
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I have received 3-4 letters from this company and finally called them today. Had a bad feeling when the loan officier wanted my SS#. He did tell me my current credit rating.
What really caused me to say no thanks was:
1. asking for my ss# and not agreeing to mail me the loan package without my ss#.
2. Loan officier told me he was working for Hud thru Advance Financial Services. Just give me a feeling something was not quite right.
I have sent an email to Hud to verify if this supposed loan officier works for Hud. If not haopefully this will be looked into by Hud.
I'm thinking SCAM!!!!!!!
Noticed this company didn't join BBB until last month.
They have over 350 employees wouldn't be surprised some are posting these few positive posts for the company here on this site.
I will be using the prescreen & opt-out notice for this company.
They will not scam me. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 12346
Location: bloomfield, ct
53.01 Dollars($)
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Post subject: Advanced Financial Services - Is it a reliable company? |
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justdeb...the first sign of alarm i would see is that he told you your credit rating...that's not reasonable if he was lacking your social security number.
i don't know if these people are scam artists or not, but my disposition towards unsolicited offers of this kind is to simply say no immediately and move on with my life.
_________________
George M. Akerley
Independent Contractor - Mortgage Consultant
Word of Excellence Editing/Writing/Proofreading
860-221-5044
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