Posted: Mon Dec 04, 2006 5:39 am Post subject: Has anyone ever heard of Advanced Financial Services
Has anyone ever heard of 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.
For a preapproval you are required to fill out a loan application. Also you are required to provide verification of your employment and source of cash for the down payment & closing costs.
You also need to provide the lender the authorization to have your credit checked.
If you have not filled any loan application with this company then without all these formalities completed sending a pre-approval through a mail is all but just a kind of offer letter which does not have much value.
Posted: Mon Dec 04, 2006 10:24 pm Post subject: RE: who is AFS
Hi Arampy,
As far as I know, the Advanced Financial Services, Inc is a residential mortgage lender dealing with alternative financing for over two decades. However, it does operate with a different name – AFS Financial Inc in some states. And, yes it does it has an office in Rhode Island.
Posted: Mon Dec 18, 2006 4:51 pm Post subject: I also received this preapproved form letter
I did some searching and discovered that they are a lending institution that was founded arround 1992. They were issued a prliminary injunction on February 21, 2002 by Judge Jorge Solis of the United States District Court in Texas for fraudulent sales and making false guarantees about investments. Larry W. Tyler of Fort Worth, Texas and his company, "AFS" filed for bankruptcy two weeks before the suit was filed.
I don't know how this has affected the company at this date, but Larry W. Tyler was ordered by the court to cease and desist, and he has been barred from any further association.
Posted: Wed Feb 28, 2007 10:42 pm Post subject: AFSI
The Texas company is a different AFS. AFSI was founded in Rhode Island in 1983, I believe. It's still in business and is a direct lender through Fannie Mae and Freddie Mac, along with HUD.
beware of preapprovals sent through the mail. if you have not applied for a loan, why would a company take it upon itself to tell you that you've already been approved? does this make sense?
do you have to pay back the loan for which you've been preapproved? if we can believe that we've been approved for loans that we haven't requested, why can't we believe that we don't have to pay them back, as well?
the reason these lenders exist is because the public is gullible - we believe anything they tell us as long as it sounds good to us. _________________ George M. Akerley
Senior Loan Officer
Freedom Mortgage Corporation
37 Jerome Avenue
Bloomfield, CT 06002
860-221-5044
Posted: Sun Jun 29, 2008 5:10 am Post subject: AFS AdvancedFinancial Services, Inc
I got a letter in mail from this company about being approved for a consolidation loan. Has anyone set a loan up with them and found them to be good. I have never hard of them, but I am looking for good place were I can get a consolidation loan on my credit cards so I can just make one big monthly payment. I did find their site afsfitfinance. I would like to know more info on them to see if this company is really lagit, sence there is so many these days that are not.
Posted: Mon Jun 30, 2008 3:03 am Post subject: RE: consolidation loan from AFS
Hi TJ,
Frankly speaking I don't know much about AFS. But I guess you shouldn't go with companies sending you mails stating that you are approved for a loan. I mean on what basis did they approve you for the loan? they didn't mention it perhaps.
I've heard they are scam artists but I'm not sure since I haven't directly dealt with them. So, what i suggest is, request them to send you a copy of the BBB report, if they have any. It's a reliable report and will give you an idea as to whether they are worth dealing with.
Posted: Sat Aug 02, 2008 9:51 am Post subject: preapproval bill consolidation loan offer
I, too, received such an offer and would love to hear from someone who WAS APPROVED and who has had a good business relationship with AFS for over a year.
Posted: Mon Aug 04, 2008 3:21 am Post subject: RE: AFS loan offer
Hi Alice,
The wise move is to check the offer first. Most often such offers are nothing but mere scams. I'd like to ask what type of a loan offer you're talking about? Also if you say something more about the offer, it'll be helpful for me to give a concrete suggestion.
The fact remains that some people have good experiences with a company, while others may not. So, what matters is the kind of offer you get and whether or not all relevant information is being disclosed to you.
arampy01
