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skeptical
Guest
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Post subject: unsure |
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| ok, I just got a letter stating I am pre approved do not know wether to do so or not. I have good credit so I am wondering if I should just go through a local bank or consolidator. |
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freddei
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Post subject: appraisal fee |
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| I am a mortgage broker. There is a new federal law called HVAC. Basically neither lenders or brokers may pick the appraisal firm. They must use an appraisal managment company forward the fee to them and they order the appraisal. I don't know anything about AFS but they would make no money if the loan doesn't close, so they are not going to order an appraisal just for the heck of it. As far as your value check with local realtors regardings, the market was dramatically higher 2 years ago and many areas of the country values dropped 25 to 75% |
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gibbie
Guest
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Post subject: afs financial |
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| Has someone actually gotten a loan from this company? We recieved a preapproval also and would be interested in info. about the reliability? |
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billyboy
Guest
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Post subject: scam?? |
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| My father went through AFS and they came out and did the appraisal but they knocked him down for the hot water heater; it was not on a permanent foundation. Sounds like they look for something to be wrong and take your $ 600.00 application fee. |
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disappointed
Guest
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Post subject: I have tried using this company |
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| They are a scam, first you pay for an apprasial and they make promises that they will get the loan done in 21 days...NOT. They also string you along and once you submit your paperwork its like pulling teeth to get an update on the status of your loan. I was not impressed with them at all. I would suggest to anyone who is looking to refi or consolidate debt to shop around. If its sounds too good to be true it probably is.... |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
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Post subject: |
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to freddei: i didn't know that "heating, ventilation and air conditioning systems" had anything to do with the appraisal aspect of mortgage lending. thanks for the update.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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freddei
Guest
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Post subject: hvcc |
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| to: Gmakerley, So I missed typed and added an a instead of a 2nd c. If you are such a knowledgeable mortgage person you would know what I am talking about. Theses appraisal rules are now in place for any Fannie, Freddie and Ginnie loans. Pay attention and you might learn something instead of making an a** out of yourself |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
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Post subject: |
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i guess when you try to be a little jokey, you have to know who your audience is.
no intent to annoy or insult you was meant - your insult was duly noted, though. thanks.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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D. B.
Guest
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Post subject: AFS |
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| It definitely is and they are offering to give you over 100% of your home's worth so tread with caution. Offers like this are how our housing industry ended up as it is. Accepting more than your home is worth is advisable only in rare special situations. |
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agustinjr
Joined: 21 May 2009
Posts: 1
1.72 Dollars($)
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Post subject: |
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| Well i thought i would share my experience with AFS as I like most people on here did a google search to see what i could find out about AFS after i received the infamous pre-approval booklet. I read all 9 pages of posts and was a little leery of moving forward after reading all the negative posts about them. I had already been turned down even by my current lender for a refinance and I had already lost hope that i was going to be able to at all. After doing additional research about them, I took a chance and called - person I dealt with was John Andrews and he immediately gave me some options. Gave me a timeline of 21-30 days and in about 30 days they sent someone out to sign the papers (was even able to get it done in my office) and in about 2 days I got an overnight envelope with all final docs. He kept me in the loop regularly and was just about everything you could ask for in this type of transaction. I read alot of negative posts talking about how much of scam it was - but they are licensed broker and are an approved FHA lender. As far as the pre-approval - the way i see it is that every business advertises and this is how they do it, we all have gotten the "preappoved" credit card offers and when you call, turns out it is not. So all in all...two thumbs up! |
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jt
Guest
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Post subject: |
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| how much do they pay you |
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Guest
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Post subject: |
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| are you serious jt?? this thread was started because people wanted to know if anyone heard of them or used them. I had a good experience and thought someone may benefit from the information - your assumption that my post is misleading is bs. |
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kll
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Post subject: |
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| Okay... I got a "preapproval" in the mail yesterday and was thinking that it was too good to be true but I was going to call anyway just to see what I could find out. I"m a court reporter and can always ask one of the attorneys I do work for once I receive any paperwork if it's legit or not. I read in one of the posts that they loan more than 100 percent of the worth of your house. How does that work? I want to pay off cc debt, possibly refi the car if the rate is lower than I have currently, etc. I have little or no equity in my home right now because I bought it five years ago and with the housing market the way it is... well, you know what I mean. Anyway, are they going to immediately turn me down because of the no equity situation? |
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Myphton
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Post subject: Not Accredited... |
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| These people are not accredited with the BBB (Better Business Bureau). Would, personally, not go with this company. Really want to invest your time, money, effort, and get a "loan shark" loan with someone who might try to twist your arm and hamstring ya? |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
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Post subject: |
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kll, you need to be extra wary of any outfit that claims to be able to lend you more than 100% of your home's value. not only that, you ought to be appalled at the thought, anyway. why would you want to put yourself in that situation?
i have no familiarity with this company, but i have to say i am most skeptical of any "preapprovals" that i get in the mail unsolicited. how can someone know i qualify for something if they have no information on me? they don't know my income, and they don't know my assets and they sure better not have looked at my credit rating, because that's only going to make me go off on them.
please everyone be careful when these knuckleheads call you claiming to perform miracles, or write you and claim the same nonsense.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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