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American Advisors Group (AAG)
American Advisors Group (AAG)
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Overall Satisfaction Rating
4.08/5
  • 5 stars
    79
  • 4 stars
    16
  • 3 stars
    3
  • 2 stars
    5
  • 1 stars
    15
Based on 118 ratings submitted in the last year
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American Advisors Group (AAG)

ConsumerAffairs Accredited Brand

American Advisors Group (AAG) is the leading reverse mortgage provider in the United States. Our mission is to help adults 62+ improve their lives and plan for retirement through reverse mortgages.

AAG is a U.S Department of Housing and Urban Development Approved Lender, a member of the National Reverse Mortgage Lenders Association, and a Top 3 place to work in Orange County, California.

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686 American Advisors Group (AAG) Consumer Reviews and Complaints

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Rated with 2 starsResolution In Progress
Verified Reviewer Verified Buyer
Original review: Jan. 24, 2019

I mainly wanted the reverse mortgage to cover my property taxes. Before AAG, I had $15,000 in a bank HECKL and $5,000 in credit card debt. By being required to do all repairs to the property, my credit card debt went to $10,000. By closing, my HECKL was paid off, which left me with no emergency funds. At the end, my mortgage is now $47,000 and my credit cards are still over $10,000, which I am still struggling to pay off. I felt the appraisal was low compared to other properties in the area; as a result, the funds available the first year were relatively low. As a final note: I am sorry I did this because I feel I am in worse shape financially then I was before.

American Advisors Group (AAG) response

Sheryl,

We apologize this was your experience, our team will be reviewing your feedback to further enhance internal processes.

4 people found this review helpful
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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 14, 2019

It was a long road to finally get to signing on the dotted line. Mr. ** was extremely patient and knowledgeable. For a few months I was back and forth with questions and he would periodically check with me. He went out of his way to arrange a convenient place for us to handle signing paperwork and the closing. He helped me every step of the way.

American Advisors Group (AAG) response

Claudia, thank you for being patient with us throughout the process! We’re glad to hear that things went well for you.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 13, 2019

We had Dorie ** as our AAG advisor, very straightforward and precise about the program, was very patient with us and took all the time we needed to explain answers to our questions and how things worked. Also kept in touch with us as things were progressing.

American Advisors Group (AAG) response

Thank you, David!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 10, 2019

My interaction with AAG was primarily through Rob **. Because of him, my impression of the company is such a good one. He was forthright, made himself available, returned phone calls and made the whole experience a real pleasure. Whatever contact I had with other AAG representatives was generally unremarkable.

American Advisors Group (AAG) response

Anita, thank you for taking the time to leave us a review. It’s great to see that you had a positive experience!

2 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 10, 2019

We were very happy with our experience. Everyone was very helpful and answered all our questions. When we would come up with other questions, Ms. Ashley ** was very helpful. We could call her anytime and she would help us in any way she could, or put us in contact with someone who could answer our question.

American Advisors Group (AAG) response

Great to hear! Thank you for sharing your experience, Russel!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 7, 2019

I had a very satisfying experience with Greg. He was most courteous and thorough in explaining the process, what is needed, what to expect and most important, the low pressure sales approach. I learned a lot about AAG, and that from his office he could see Disneyland (I worked for Disney at one time). I would surely recommend Greg and your company.

American Advisors Group (AAG) response

John,

Thank you for taking the time to leave us a review. It’s great to see that you had a positive experience!

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Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Jan. 5, 2019

This was one of the worst mtg lending I've ever experienced. It took close to a YEAR to get this done. Everything from no one calling back to the appraiser not showing up and not being told that the first one had quit or something. Then it took too long for another to be sent. I was EXTREMELY disappointed with how this was handled. I would not recommend AAG to anyone who is looking for a reverse mortgage.

American Advisors Group (AAG) response

Ronald,

Thank you for the review. We apologize that you didn’t have a great experience; we’d love to take the opportunity to try to improve. If there is anything we can do, please give us a call.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 5, 2019

Very good and timely experience working with AAG. I did everything from home which really helped me out as I have cancer. Always kept in touch with me when they said they would. A good company to work with.

American Advisors Group (AAG) response

James, this is great to hear! Thank you for sharing!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 4, 2019

I don't know what you pay her (Jean) but I do know she's worth every cent! It was a real pleasure to talk to her because she really listened and answered any questions that we had. If a problem came up she was on it 100% and stayed in constant contact. I really can't say enough about what a pleasure it was to deal with her, she's one in a million!

American Advisors Group (AAG) response

Thank you! This is great to hear, Thomas.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 4, 2019

Up to this point I have had no bad experience with AAG. They gave me what I ask for when I needed it. I still have some concern about the final outcome but overall I am satisfied. I have had this loan just a little over a year. Thanks Phyllis for your help.

American Advisors Group (AAG) response

We appreciate you taking the time to leave us a review. We’re happy we could help!

2 people found this review helpful
Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

The company you had doing the repairs barely spoke English. Their work not good at all. Painting needed 2 coats on the house. Only got one. So coverage is sparse. They said paint and scrape house, nothing about pressure washing so ran my well dry. What was paid out was hardly worth the effort. Very dissapointed in my situation now.

American Advisors Group (AAG) response

Stella,

We’re sorry that you didn’t have a great experience with us. We will be reviewing your feedback to further improve our procedures.

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Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

AAG agreed, in writing, to pick up the appraisal fee. I was charged with this expense at closing (and included in my closing costs). In addition, interest is accruing on this amout. Complaint has been filed with BBB since I haven't been given courtesy of hearing from AAG since my call of 10/31. If not satisfactorily resolved, legal action will be pursued. Glad I pursued reverse mortgage, but not pleased with AAG's not honoring its commitment!

2 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

Christine ** walked me through all the steps and there are a lot of steps. Her guidance and support got me through some of the more difficult tasks. I am grateful for the AAG loan. It is making a difference in my mother's life.

American Advisors Group (AAG) response

Great to hear! Thank you for sharing your experience, Victoria!

2 people found this review helpful
Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

The process to get the loan in place was extremely professional and went very smoothly. Now that it is in place (and we have such great peace of mind having done this!), my only complaint is the lack of an online presence. The paperwork is very primitive in that we have to wait for a monthly paper statement that comes in the mail (and we fear mail theft). Please implement an online presence! Thanks!

American Advisors Group (AAG) response

Denise,

Thank you for bringing this to our attention! We’re always looking for areas where we’d be able to improve on, so your feedback is greatly appreciated!

4 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

I am so thankful for AAG. They are the best understanding, accurate company that was able to all they said they could in and on time they said. Each step was just as I was told. No hidden fees or surprises.

American Advisors Group (AAG) response

Thank you, Dorothy! We’re very happy to hear this

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

Speaking for Jackie **, we were pleased with the overall process for this process. The only complaint is that Jackie had to receive the full amount of money from the transaction. The plan was to draw a portion of the money and additional funds at a later time. The option was given to return most of the money to the account to be drawn on later. We have been unable to talk to a live person about returning some money to the account to be used later, and Jackie was to receive paperwork in the mail within a month to make that happen. No paperwork was received. I request someone contact us about how to make this transaction happen.

American Advisors Group (AAG) response

Hello,

Our team will look into the issue! Please also feel free to call us at 866-219-7753 to answer any questions or address your concerns.

3 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

We love having the extra income coming in every month. It has made our lives very comfortable. Sue and I are still having a little trouble understanding the monthly mortgage updates. Something clearer, in an easier format would be very helpful. Thanks again for your help!

American Advisors Group (AAG) response

Richard,

Thank you for the feedback, we’re always looking to improve so we greatly appreciate it!

3 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

Our experience in getting a Reverse Mortgage Loan was very easy. We appreciated the ease with which we got the loan. The fact that we needed a counselor was very important and we appreciated that feature in getting the loan. Thank you for making this a memorable experience and I have recommended AAG to a friend and her husband and they have also used AAG and are very happy with the program.

American Advisors Group (AAG) response

Charles,

Thank you for taking the time to leave us a review. It’s great to see that you had a positive experience!

Be the first one to find this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

I would recommend a reverse mortgage to a friend but I would tell them to check all other financial possibilities before applying for one. That being said I would recommend AAG for their reverse mortgage because of the fact that their advisors (in our case Sean **) were very professional and explained the process in terms that could be understood and were very good about answering any questions we had.

American Advisors Group (AAG) response

This is so great to hear, James!

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Rated with 3 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

2 disappointing encounters: 1. I was hoping to go paperless with my monthly statements. I made a phone call and left a message to an AAG number and never heard back. 2. I received a letter from AAG saying that I hadn't paid my taxes, which I had. I called to discuss with the number listed and got a very unfriendly rep, who seemed not to believe me. When she finally acknowledged that the taxes had been paid, she was still rather grumpy. Very different than the experiences I had when I was obtaining the mortgage when everyone was very helpful.

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Rated with 3 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

Overall this was a pleasant experience. Especially dealing with Ms. **. She was very helpful and professional and pleasant in her dealings with hiccups in the process. However, the rest of the experience was not as pleasant. I felt that the people dealing with the finalization were slow and lacked communication among themselves. There were a couple of items we had to deal with that could have been avoided with proper communication. The most glaring was the double payment of property tax and trying to find someone to deal with it. The person I was given to call was never in the office and it took quite some time to get this issue resolved. Requests for withdrawal are also slow and can take up to two weeks to complete. I realize that many of these processes are farmed out to other entities under contract. I don't believe that these entities receive very good supervision by AAG.

American Advisors Group (AAG) response

Robert,

Thank you for bringing this to our attention. We’re constantly looking to enhance the quality of our services and will review this internally.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

I am real pleased with AAG. Nathan ** was great. He was understanding with my questions. So far no trouble. It has sure help me living mouth to mouth with paying my bills with the AAG help. Thanks a lot.

American Advisors Group (AAG) response

Jerry,

Thank you for taking the time to leave us a review. It’s great to see that you had a positive experience!

Be the first one to find this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 3, 2019

Sean ** took care of us and helped us through every detail. He never betrayed our trust and gave us the best outcome possible. We felt as if he was our own son watching out for our best interests. He kept us informed and arranged for personal help with documents and guidance with all requirements. Everything happened as explained and described and on schedule. Couldn't be happier with experience and results. Thank you Sean and AAG.

American Advisors Group (AAG) response

Thank you, Michael! We’re very happy to hear this.

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Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Jan. 2, 2019

I thought I had a good relationship with Michele **, but after I was told final amount I was told $50.000 was being held because of bad credit with a past mortgage co. I sold my previous home because I couldn't make mortgage payments. I was upfront with this. So why wasn't I told this from the beginning. I had already committed to pay my rent with the $38,000 I got so I had to go through with mtg. Now I have no equity in my house and still have debts I was going to pay with $50,000 that was withheld.

American Advisors Group (AAG) response

Cathleen,

We’re sorry that you didn’t have a great experience with us. We’ll be looking into this matter further to improve our services. If you would like, please give us a call at 866-219-7753 to further discuss.

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Rated with 1 star
Verified Reviewer Verified Buyer
Original review: Jan. 2, 2019

Steve ** was and is a gentleman. However, he obviously is held under the thumb of a money grabbing jerk! Your program is an absolute scam to older folks. I was dragged through the mud for about 5 months. I was asked to provide info a little bit at a time instead of altogether. I was almost accused of hiding info and assets. I'm still not sure why I just didn't just walk. I ended up paying you way too much and then saddled from the start with $14K I owe and am paying interest on. Rip off artists like you should be in jail!

American Advisors Group (AAG) response

Terence,

Thank you for providing your feedback. We apologize that you didn’t have a great experience. Our team will review this to further improve the quality of our service.

3 people found this review helpful
Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Jan. 2, 2019

Tara ** of AAG was wonderful in guiding our application through the process to approval and funding. As the owners of multiple businesses, our situation was complicated and required extra steps and persistence which Tara provided.

American Advisors Group (AAG) response

Great to hear! Thank you for sharing your experience, John!

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 2, 2019

I called AAG to get more info on a letter I received re a jumbo loan which is now available. I wanted to know if my situation fit. I was particularly interested in the feature that no MIP is required. It took awhile to get a call back on some messages I received. The person who wound up responding to me did a good job of explaining things.

American Advisors Group (AAG) response

Sheldon,

Thank you for your positive review! We strive to provide the best experience for you and we’re happy to see that it was reflected.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 2, 2019

It took longer than expected, but the people that worked with me were professional and amazing. Didn't realize it would take a year later to get the balance of the funds, that is the biggest problem I have with it.

American Advisors Group (AAG) response

Martha, thank you for being patient with us throughout the process. We’re always looking for areas where we’d be able to improve on, so your feedback is greatly appreciated!

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Jan. 2, 2019

The people I dealt with were fantastic. The actual reverse mortgage experience has not lived up to hype. It is probably because I live in a small rural town, because nothing has been what was told to me. Guess that is my fault, should of asked more questions. This process seems to be suited for large cities where houses are worth more, cause this hasn't helped me at all and now I'm stuck. But I'm sure that's my fault, always been told if it sounds too good to be true it usually is.

American Advisors Group (AAG) response

Hi Sheila, thank you for the feedback. We are always looking to improve so we appreciate it!

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Rated with 2 stars
Verified Reviewer Verified Buyer
Original review: Jan. 2, 2019

Your frontline people ie: Ryan **, Susana ** were the best and THEY are the reason any stars at all. Helpful - courteous - THEY are the best. Your behind the scenes people, the decision makers were absolutely the worst people I've dealt with in 60 years of dealing with humans. Their approach came across to me in such a way that made me believe they did not know what they were doing.

I would get a list of things I needed to do and once they were done the loan would fund. I would do those things, send in the proof and 3-6 WEEKS later here comes another list with more things to do and for sure the loan would fund, get the list done, send proof - 3 to 6 weeks later here comes another list. ON and ON and ON this went on. I felt like I was being grossly harassed.

I was convinced that AAG maybe needs to hire someone that can review an application, its documents, submittals, that knows what they are doing. That can generate a check off list 1 or 2 times to complete. I can understand that per some information there might additional information needed but advise your client upfront. Get someone that can look at the submittals MAKE A DECISION! STOP HARASSING YOUR CUSTOMERS! I have been asked who I dealt with and honestly I do not recommend AAG. I tell them my experience. They can decide for themselves.

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American Advisors Group (AAG) response

Merritt,

Thank you for providing your extensive feedback. We’re sorry that you didn’t have a great experience with us. Our team will review this to further improve the quality of our services.

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American Advisors Group expert review by Michele Lerner

American Advisors Group has been in business for approximately 10 years. Its mission is to help seniors convert as much home equity into tax free cash as possible.

  • Fairly well-known company: AAG has been offering reverse mortgages for over 10 years and has used celebrity spokespeople in its marketing campaigns.

  • Clear info on site: AAG’s website includes a frequently asked question section, which contains detailed information about reverse mortgages.

  • Offers free informational kit: Rather than applying online, consumers are encouraged to send for free information before making their decision.

  • Customer service: There have been consumer complaints alleging that it took months for AAG to close on a reverse mortgage.

  • Comparison: Some consumers claim that they got less money once AAG closed on the mortgage than they would have from competing companies.

  • Best for: Seniors who want to enjoy their later years and seniors who expect their house’s value to rise.

Profile picture of Michele Lerner
Michele Lerner Mortgage & Real Estate Contributing Editor

Michele Lerner, author of “HOMEBUYING: Tough Times, First Time, Any Time”, has been writing about personal finance and real estate for more than two decades. Michele writes for regional, national and international publications in print and online for a variety of audiences including consumers, real estate investors, business owners and real estate professionals.

American Advisors Group (AAG) Company Information

Social media:
Company Name:
American Advisors Group
Company Type:
Private
Year Founded:
2004
Address:
3800 W. Chapman Avenue
City:
Orange
State/Province:
CA
Postal Code:
92868
Country:
United States
Website:
www.aag.com
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