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Guidance Residential LLC

Phone: (703) 885-0800 Fax: (703) 885-0811 11109 Sunset Hills Road Ste 200, Reston, VA 20190 http://www.guidanceresidential.com View Additional Web Addresses

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BBB Accreditation

A BBB Accredited Business since

BBB has determined that Guidance Residential LLC meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.

Reason for Rating

BBB rating is based on 16 factors. Get the details about the factors considered.

Factors that raised the rating for Guidance Residential LLC include:

  • Length of time business has been operating.
  • Complaint volume filed with BBB for business of this size.
  • Response to 8 complaint(s) filed against business.
  • Resolution of complaint(s) filed against business.
  • BBB has sufficient background information on this business.


Customer Complaints Summary Read complaint details

8 complaints closed with BBB in last 3 years | 0 closed in last 12 months
Complaint Type Total Closed Complaints
Advertising/Sales Issues 1
Billing/Collection Issues 1
Delivery Issues 0
Guarantee/Warranty Issues 1
Problems with Product/Service 5
Total Closed Complaints 8

Additional Information

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BBB file opened: December 26, 2002 Business started: 06/01/2001
Type of Entity

Limited Liability Company (LLC)

Business Management
Mr. Kal Elsayed, President/CEO
Contact Information
Principal: Mr. Kal Elsayed, President/CEO
Business Category

Consumer Finance & Loan Companies

Alternate Business Names
Guidance Investments

Additional Locations

  • 11109 Sunset Hills Road Ste 200

    Reston, VA 20190

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Types of Complaints Handled by BBB

BBB handles the following types of complaints between businesses and their customers so long as they are not, or have not been, litigated:

  • Advertising or Sales
  • Billing or Collection
  • Problems with Products or Services
  • Delivery
  • Guarantee or Warranty

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BBB Complaint Process

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Additional Web Addresses

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Complaint Detail(s)

7/17/2013 Advertising/Sales Issues | Read Complaint Details
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Additional Notes

Complaint: It started out with the interest of getting refinanced with guidance. I was referred to rep. ***** *** who is a nice person and at first explained the process and fees and supposedly it took about 2days to get preapproved with them after they looked at my credit history. Meanwhile, I had to prepare all the docs and supporting paperwork talking to ***** during process and thinking its a done deal also he convinced me to rent my home instead of selling and waiting to sell after market gets better. The fees that we had to pay which is $99 credit and $375 appraisal is deducted from closing costs, so kept calling to see after 2 then 3 weeks he kept saying almost done then all of a sudden the email came saying we regret we can't work with you at this time. I don't have a problem with that answer but why did you look at my credit in first place and see what you needed and have me believe that everything is fine and do the appraisal. When I called ***** he said that you had a short sale and some payments weren't made so that's why but let me see what I can do even though the short sale was cleared the whole amount was waived and after that I left him an email and message and no return calls so at this point I think its misrepresentation and the services was not delivered as promised .

Desired Settlement: The disputed charges on my credit card to be returned .

Business Response:

In response to the Better Business Bureau complaint #******* from **. ***** ****** …

 I have reviewed the circumstances and agree with **. ****** that we should not have asked for a $375.00 property appraisal fee and completed an appraisal on **. ******’s property. After the application, credit, and underwriting evaluation, it seemed apparent that we would not be able to help **. ******. The $99.00 application fee was reasonable for both the credit and underwriting evaluation.

 Attached please find my letter to **. ******. We are sending him a check in the amount of $375.00 as a refund of the property appraisal fee.

 

Regards,

**** *****

SVP, Chief Operating Officer

Consumer Response: [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution is satisfactory to me. 

Regards,

***** ******

BBB's Final Determination: Consumer accepted resolution offered by the business.

3/26/2013 Problems with Product/Service | Read Complaint Details
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Additional Notes

Complaint: In or around the beginning of January 2013 I spoke **** ***** a loan representative concerning refinancing my home. I submitted a pre loan application, and upon completion was advised that I met the requirements to move forward with applying for a loan. At this point I explained that my past taxes had to be refilled and that I was in the process of taking care of these issues. I also explained that our deed still listed a guardianship which was dissolved due to our sons death. At this point I asked *** ***** if I should wait for these issues to be resolved or should we still move forward. He suggested that we could still move forward and instructed me that I could take my taxes to my local tax office and file my taxes. We filled out a tax request form for the IRS to get our past tax transcripts in accordance with the loan process, Which came back incomplete, and after this I still was advised that i could move forward. At the completion of the loan I was denied for these issues, which where already discussed before hand.

Desired Settlement: At the vey least I would like to be refunded my appraisal fee.

Business Response: Please see the attached response letter. 


Thank you,
Guidance Residential

Consumer Response: [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID *******, and find that this resolution is satisfactory to me. 

Regards,

********* ****

BBB's Final Determination: Consumer accepted resolution offered by the business.

1/26/2013 Problems with Product/Service
8/10/2012 Problems with Product/Service
5/23/2012 Billing/Collection Issues
2/1/2012 Problems with Product/Service
11/30/2011 Problems with Product/Service
11/10/2011 Guarantee/Warranty Issues
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