• Report: #302704

Complaint Review: Live Well Financial

  • Submitted: Wed, January 23, 2008
  • Updated: Thu, January 01, 2009

  • Reported By:Beverly Hills California
Live Well Financial
830 East Main St Richmond, Virginia U.S.A.
  • Phone: 804-767-5608
  • Web:
  • Category: Employers

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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LIVE WELL FINANCIAL NICKEL AND DIMES ITS EMPLOYEES!!!

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!**

Next...

**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!!!**

Next...

**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.

John N.
Beverly Hills, California
U.S.A.

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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

LEADS ARE A SCAM!!!!!!!!!!!!!!!

AUTHOR: John - (U.S.A.)

LIVE WELL FINANCIAL IS A TOTAL SCAM!
ALL THEY CARE ABOUT IS SELLING THEIR TERRIBLE LEADS FOR UPWARDS OF $100.
THE LEADS TAKE FOREVER TO COME, THEY CHARGE WAY TOO MUCH, AND THE
LEADS ARE NEVER GOOD.
THIS COMPANY ONLY CARES ABOUT SELLING LEADS! DO NOT WORK FOR THEM
THEY HAVE MANY, MANY, MANY COMPLAINTS ON THE BETTER BUSINESS BUREAUS WEBSITE. THIS COMPANY IS A SCAM. DO NOT WORK FOR THEM.
CHECK OUT THE RICHMOND, VA'S BBB WEBSITE FOR YOURSELF.
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#2 UPDATE Employee

Live Well Financial: A reasonable company at this point.

AUTHOR: Jim Floyd - (U.S.A.)

As a rebuttal to the Californian about the health insurance. I am an employee of Livewell for about a month. I just inquired about this, and was told that there are no earnings contingencies for health benefits. The current program is available after 90 days of hire. Rates vary, depending on the age of the employee and number of persons insured. For example, employee monthly rates range from $93.93 (less than age 24, male) to $353.18 (age 65 or older, male). As more persons are added to the policy, the rates increase. For the family rate (3 persons, ages over 55) would be $956.59 per month! So it appears that the health benefits are mainly for the employee only, and too expensive otherwise.

As for the $50 for the use of company software, I have not been required to pay anything, and there are no sales stipulations to use it; Leads in my state are $55 apiece, and I received a lead within one week of ordering. It takes time to generate these pre-qualified leads, and the company makes this clear when you order. I don't believe the intent of such leads are to squeeze the loan agents; much more money is generated by successful sales.

Jim Floyd, Portland, Oregon
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