- Report: #79267
Complaint Review: American Savings Life Insurance Co. Inc. & Attorney Gove Allen - Mesa Arizona
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Author Not Confirmed
Why?
American Savings Life Insurance Co. Inc. & Attorney Gove Allen
935 East Main Street, Mesa, 85203 Arizona, U.S.A.
Phone:
480-835-5500
Web:
N/A
Categories:
Business Rating:
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Tell us has your experience with this business or person been good?
American Savings Life Insurance Co. Inc., & Attorney Gove Allen Preditoral lenders attempt to strip land owners of equity, misleading terms on contract, charged for fire insurance thats not provided Mesa Arizona
This family run company is very decieving to even the trained eye. They are very receptive to potential borrowers that is untill they get you to sign the contract.
With my refinance loan they first came out to view my real estate to make sure I had enough equity to be worth the effort to strip me of my land. Once the two brothers David & Clark Allen had been to my place it was all green lights, however they did not come through with the financing for several months.
Waiting untill I was with my back solid against a wall then agreed to fund my loan for 25% less than originally set for.
This had effect of giving me just barely enough cash from refinancing after 15 years to pay the huge fees and costs of getting the loan paperwork set up.
Leaving me with a lot bigger payments to pay, with no realistic way to pay them. They tryed to get me short funded so that I would default on payments so that their Company could forclose on my home within a few months, flip the property at a fast sale reaping the fast cash of say only double their investment within a few months.
Well so far I have managed to keep them from their goal, by some crazy string of luck. I really just had a lot more in assetts laying around as inventory in my bargain center inventory than even they antisapated i would have.
They charge high interest rates, and even higher penalties, all in the name of helping you out.
Everyone be aware these people are relentless in there pursuit of unfortunate peoples homes. They have no feelings period.
James
Salome, Arizona
U.S.A.
With my refinance loan they first came out to view my real estate to make sure I had enough equity to be worth the effort to strip me of my land. Once the two brothers David & Clark Allen had been to my place it was all green lights, however they did not come through with the financing for several months.
Waiting untill I was with my back solid against a wall then agreed to fund my loan for 25% less than originally set for.
This had effect of giving me just barely enough cash from refinancing after 15 years to pay the huge fees and costs of getting the loan paperwork set up.
Leaving me with a lot bigger payments to pay, with no realistic way to pay them. They tryed to get me short funded so that I would default on payments so that their Company could forclose on my home within a few months, flip the property at a fast sale reaping the fast cash of say only double their investment within a few months.
Well so far I have managed to keep them from their goal, by some crazy string of luck. I really just had a lot more in assetts laying around as inventory in my bargain center inventory than even they antisapated i would have.
They charge high interest rates, and even higher penalties, all in the name of helping you out.
Everyone be aware these people are relentless in there pursuit of unfortunate peoples homes. They have no feelings period.
James
Salome, Arizona
U.S.A.
1 Updates & Rebuttals
Kirk
Apache Junction,Arizona,
U.S.A.
American Savings Life Insurance Is NO Predator
#2UPDATE EX-employee responds
Wed, May 10, 2006
I worked at American Savings for over five years, from March of 1999 thru September 2004. My responsibilities included billing, receiving payments, collecting delinquentcies and handling any customer service issues that might arise. I know first hand the policies regarding delinquent loan accounts at American Savings. Also, I know the gentleman who wrote the complaint against American Savings. I can remember sending him letter after letter, and making call after call, in an attempt to bring current the payments he'd obligated himself to. If I remember correctly, the Company gave him more opportunities to bring the account current than they were legally obligated to. In fact, this was a regular practice of the Company. While I am very sympathetic of the situation he placed himself in, I am absolutely certain his one-dimentional view of American Savings' upper management crew, Clark and David Allen, is completely unsubstantiated and borderline libelous. I've knew these men professionally for nearly 15 years, and prior to working there had actually borrowed money from the Company on three different occasions. In all transactions I was honestly and justly delt with. I would not hesitate to do business with American Savings and David or Clark Allen in the future. After working for American Savings for five and a half years, and seeing the lending and collecting process up close and personal; I can say without hesitation that American Savings Life Insurance Company is NO predator, but rather a savior in most of their customers eyes. Rip-Off Report complainer, "James" is the one who breached a legal contract with American Savings, and thereby exposed himself as one worthy of ridicule and distrust.
