- Report: #302704
Report - Rebuttal - Arbitrate
Complaint Review: Live Well Financial
Live Well Financial830 East Main St Richmond, Virginia U.S.A.
Live Well Financial Live Well Financial Nickel and Dimes Its Employees Richmond Virginia
*UPDATE Employee: LEADS ARE A SCAM!!!!!!!!!!!!!!!
*UPDATE Employee: Live Well Financial: A reasonable company at this point.
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In my opinion Live Well Financial is just trying to figure out ways to nickel and dime their employees. I looked on Monster.com a few weeks ago and called about the loan officer position. Here is how Live Well Financial RIPS OFF their loan officers:
**Leads are $90 a peice. That's right, $90! That's not a typo, $90 per lead. I was told because I live in California, the price PER lead is $90, and it can take up to 90 days to get them after I buy them. So, I have to lay down $90 per lead and then wait up to three months to get them! WHAT A RIP OFF!**
**The software fee is $50 a month. Can you believe that?! $50 a month!!! They said that as long as I close at least one loan a month that the fee is waived, if I don't, I have to pay $50. That means that while I wait up to three months for my leads, I will be having to pay $50 a month! That's probably why they drag their feet with leads, they can get an extra $150 of software fees out of you while they take three months to get you your leads!!!**
**They told me that the loan officer position was eligible for full benefits (health, dental, etc.) but there was a CATCH and you have to read the fine print. You are only eligible for benefits if you close at least one loan a month for six months in a row! So, if you dont close at least one loan a month for six months in a row, you are out of luck, NO insurance for you!!!
Let me give you an example of what that means. If you close one loan the first month, 10 loans the second month, but cloase no loans the third month...you're SCREWED! No insurance for you! You have to start all over again until you close at least one loan a month for six months in a row. To me, that seems like they are doing everything possible to ensure they don't have to pay out benefits.**
Everything I just wrote is completly true. Here is the phone number on Monster.com 804-767-5608. If you don't believe me, call them yourselves and see what a big RIP OFF they really are. In my opinion, Live Well Financial lives to nickel and dime their employees.
After hearing about all of the charges and fees for Live Well Financial, I looked for and found employment with another reverse mortgage company as a loan officer.
I'm not going to mention which company I finally went with, but I will tell you that if you want to work in reverse mortgages (and not get nickel and dimed by Live Well Financial) you can check out companies like Financial Freedom, Wells Fargo, Countrywide etc.
Beverly Hills, California
This report was posted on Ripoff Report on 01/23/2008 02:40 PM and is a permanent record located here: http://www.ripoffreport.com/r/Live-Well-Financial/Richmond-Virginia/Live-Well-Financial-Live-Well-Financial-Nickel-and-Dimes-Its-Employees-Richmond-Virginia-302704. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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