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.
cingram, you do realize, don't you, that the solicitation you received in the mail has nothing to do with this website?
if you take the time to read what's been said about this particular company, i have a feeling you may want to contact someone else. i don't know anything about them, but i have a distrust myself for unsolicited offers that arrive in the mail or by telephone.
if you take the time to read what's been said about this particular company, i have a feeling you may want to contact someone else. i don't know anything about them, but i have a distrust myself for unsolicited offers that arrive in the mail or by telephone.
After initial contact I was led to believe that the process would be a n easy close,however after 2 and1/2 months and extreme scrutiny( they would not proceed without a formal letter from the provider of a 72 dollar a month pension) they found something in my tax return that was related to my wife's business(who was not on the loan) and admonished me for not telling them about it.I don't think I would ever recommend this company to anyone.
I was gullable enough to call after getting a flyer in the mail. The person who took my application was very helpful and courteous. I was to find out that was short lived. I called him on numerous occasions and had to leave a message only to have to call again to finally talk to him. I am still waiting for a return call from 5 days ago. Stay away from them. They are changing their name to "Embrace Home Loans". When I originally setup my loan with Countrywide, they were always courteous and returned my calls in a timely manner.
"Embrace" sounds like a misnomer...most everyone who has posted here would never think of embracing them again.
How can AFS approve a loan for bill consilidation services and offer you a loan worth more than your home is valued?
Hi dmason,
A lender cannot approve a loan worth more than the value of the property. If he does so, that would be considered as illegal. If such a thing has happened with you, then you should take legal steps. You may contact an attorney and take his opinion in this regard.
A lender cannot approve a loan worth more than the value of the property. If he does so, that would be considered as illegal. If such a thing has happened with you, then you should take legal steps. You may contact an attorney and take his opinion in this regard.
does the loan have to be a 30 year loan to get the low fixed interest rates
Hi rdb,
I don't think there is any such rule that states the loan has to be 30 years in order to get low fixed interest rates.
I don't think there is any such rule that states the loan has to be 30 years in order to get low fixed interest rates.
rdb, in fact, you will find that the shorter the term, the better. mortgages are typically offered in terms of 10, 15, 20, 25, 30 and 40 years. what i'm speaking of is what we would consider a "traditional" mortgage product. for offbeat stuff, all bets are off.
would like to know what is going on with my mortgage and why no one will return my calls.it has been 7 weeks simce this process was started and i have submited all paperwork necessary. i neeed to hear from you as soon as possible in order to know what my next step will be. connie s.
Hi connie!
Welcome to forums!
This is a mortgage community and not the official website of Advanced Financial services. If you want to know about your mortgage application, contact the concerned lender.
Sussane
Welcome to forums!
This is a mortgage community and not the official website of Advanced Financial services. If you want to know about your mortgage application, contact the concerned lender.
Sussane
once again can someone tell me about my loan?it is now week 8 with no word from you.
[E-mail address deleted as per forum rules. Thanks.]
[E-mail address deleted as per forum rules. Thanks.]
Hi connie,
As Sussane has mentioned in the above post, you need to contact your lender to get further information about your loan. I don't think anyone of the members here would be able to help you.
Thanks
As Sussane has mentioned in the above post, you need to contact your lender to get further information about your loan. I don't think anyone of the members here would be able to help you.
Thanks
do not go with this company they discriminate the disabled,,my loan was ready to close and they said they needed a letter sayin my review would be in three years because it was federal guide lines got it they still will not close all they want is 375.00 for appraisal ,,,this company is a big rip off and how does the us department of housing approve them to write loans
to disabled man:
in their defense, the 3-year disability situation is a guideline that is standard. it appears your only other objection was to the appraisal fee of $375. that's pretty close to what everyone gets for an appraisal - and it's not the lender who gets the money, it's the appraisal firm that inspects the property and writes the report.
are there other issues in your dealings with them?
in their defense, the 3-year disability situation is a guideline that is standard. it appears your only other objection was to the appraisal fee of $375. that's pretty close to what everyone gets for an appraisal - and it's not the lender who gets the money, it's the appraisal firm that inspects the property and writes the report.
are there other issues in your dealings with them?