Report: #302139

Complaint Review: Live Well Financial - Richmond Virginia

  • Submitted:
  • Updated:
  • Reported By: Dallas Texas
  • Live Well Financial 8360 E Main St Suite1000 Richmond, Virginia U.S.A.

Live Well Financial And Mike Hild And Brett Ludden Crooks, internet scam Artist unscrupulous and deceptive business practices, thieves, Stay away from these guys they have no business morals Richmond Virginia

*UPDATE Employee: No problems here

*UPDATE Employee: Pretty extreme allegations for such a short term experience.

*UPDATE Employee: Stay Away from Live Well Financial

*UPDATE Employee: Live Well Financial: You need the facts from current employees

*Consumer Comment: Live Well Financial - Worst Company to Work For

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These guys are real criminals. They recruited me on line (Monster and Careerbuilders) as a loan officer. I have mortgage loan experience and it became immediate clear to me these guys had no clue what they were doing. They made us buy materials at inflateed prices, required us to use their software at $50 per month. They sold us leads for $50 each. The leads were far inferior to the leads you could buy on the web for $5 They lied numerous time during the loan process. i.e. the electric power was off at the Title company so they can't issue checks today. NOT After the loan closed it is suppose to take 4 days to fund the loan. It took them 30 days to fund the loan after it closed. Two weeks after closing they made the borrower sign a whole new set of closing doucuments before they would release the funds to the borrower the loan. My signed employment agreement provide for them to pay me 1% of the appraised price. Yep, thats right you guess it they did not pay me for the loan I orginated and closed. They owe me $1300. I am going to try to put these guys out of business any help would be appreciated. I have turned them over to FHA Inspector General, FBI Internet fraud section. Virgina Bureau of Financial Institution. National Reverse Mortgage Lenders Association ..... and I have just started. I will be filing suit in Court to try to get a judgment so I can levy on their property so I can get my $1300 dollars paid. Stay away from these Guy as they are very toxic

Dallas, Texas

This report was posted on Ripoff Report on 01/21/2008 04:41 PM and is a permanent record located here: https://www.ripoffreport.com/reports/live-well-financial/richmond-virginia-23231/live-well-financial-and-mike-hild-and-brett-ludden-crooks-internet-scam-artist-unscrupulo-302139. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#5 UPDATE Employee

No problems here

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

POSTED: Wednesday, May 27, 2009
I have been a Loan Officer for Live Well for about 3 years and have never had any of the problems you have mentioned. Everything is spelled out and if you don't want to participate, you don't have to. I have found them to be honorable and honest. If there are any problems, they go out of thier way to correct them. No Problems Here!
Lea in Virginia
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#4 UPDATE Employee

Pretty extreme allegations for such a short term experience.

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

POSTED: Tuesday, February 24, 2009
I have had just the opposite experience. I have found management to be very helpful and my checks have all been direct deposited just as they said they would. The lead program is not the best but thy were always ready to give me credit for a lead that was unqualified. I don't think the Aviator gave the program enough time to work. Many times paperwork has to be redone. It is part of the mortgage business.
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#3 UPDATE Employee

Stay Away from Live Well Financial

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

POSTED: Thursday, January 01, 2009
I was a Loan Officer with Live Well Financial for a short time. I quit due to my utter dissatisfaction with the company.

I did an internet search for them today, and found this website. I was not surprised that many people have also had bad dealings with Live Well Financial.

After reading some of the posts on this website about Live Well Financial, I decided to post my experiences.

Here is my experience:

1.) Live Well Financial is headquartered in Richmond, VA, and has 47 complaints filed against them on the Richmond Better Business Bureau's website. It appears that most of these complaints deal with their leads program. Some of these were resolved with refunds, most were not.

2.) I called and asked what requirements they have to be a loan officer, for all intents and purposes they do not have ANY requirements to be a loan officer (aside from having a clean criminal history, and not having a real estate license)

3.) They push leads on people, and if you don't buy leads from them, don't even think about getting any support from Live Well Financial.

4.) They take forever to close a loan.

5.) It can take months to receive your commission payout.

6.) Live Well Financial takes 50% of your commission.

7.) They never refund leadsever. Even if they sell you a bad lead, they will not refund your money or give you a credit. If you call and complain about the quality of leads, again and again they will tell you They are not guaranteed, and Read the fine print, we never offer refunds

8.) This company appears very disorganized. They couldn't tell me what stage of closing/underwriting my loan was in. They simply didn't know. When I asked What do I tell my client?, they said Tell her it will be done when it's done

9.) The Sales Manager was extremely rude, and would talk down to my client when the three of us were on the phone trying to close a deal.

10.) All they want to do is make money by selling leads.

I don't know if my post will be attacked by employees of Live Well Financial or if others will agree and post the same type of experiences. But, I can tell you, based on my experience (and many others' apparently), Live Well Financial is not a good company to work for, or get a loan through.
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#2 UPDATE Employee

Live Well Financial: You need the facts from current employees

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

POSTED: Tuesday, June 10, 2008
I am a current employee, and just want to set the record straight. There once was a $50 fee to new loan officers for using the company software, as a way of getting a commitment to their program, but this is no longer the case; the software is accessible once the loan officer has satisfied their state licensing requirements to originate loans. Regarding the funding issue, the Dallas employee failed to mention any other details as to why the loan did not get funded quickly.

There may be several reasons why this could occur, such as an incorrect signature, date, or other information that surfaced after the initial underwriting of the loan, that required new loan papers to be submitted. He did not mention any details why he was not paid his commission. Regarding the lead generation program, there is a charge for them ($50 - $55 in most states) per lead, and are generally obtained from the company marketing efforts. These, however, are not required, and there are ample marketing methods and materials available, downloaded from the company to use.

Other materials, such as business cards, brochures, letter-head stationary, envelopes, etc, are not inflated, but at reasonable prices, and are provided on order from a contacted printer, not Live Well. As for the company being Toxic, I would say my experience has been positive, supportive, and which provides me with a substantial opportunity to work out of my home. I would urge any readers to view the Live Well Financial web site and talk directly to the real players involved, and then make an informed decision, apart from spiteful comments from disgruntled former employees.
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#1 Consumer Comment

Live Well Financial - Worst Company to Work For

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

POSTED: Wednesday, January 23, 2008
I totally agree!!! In my opinion Live Well Financial is just trying to figure out ways to nickle 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 nickle 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 nickle and dimed by Live Well Financial) you can check out companies like ((((competitors' names redacted))) etc.

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company, ..plus, if you post a competitors name more than likely they will show up on search engines as a Rip-off! - - your comments on this policy are welcome. CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report. In this case we removed an alleged competitor's name
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