American Advisors Group (AAG)
ConsumerAffairs Accredited BrandAmerican 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.
619 American Advisors Group (AAG) Consumer Reviews and Complaints
Dominick is very intelligent, dedicated, hard working person who enjoys his job. Dominick is extremely patient, explains in details your concerns and will walk you through the process of obtaining a Reverse Mortgage. If he was not my advisor I probably would not have chosen this company. It took approximately 4 months to decide if Reverse Mortgage was right for me. I was scared and confused. Dominick reassured me I was making the right decision. I could call Dominick at work or at home, he was never too busy to answer my questions.
Dominick also informed me that it's mandatory for me to meet with a FHA counselor to make sure I was not misinformed by him and that I understood what was told to me. The FHA counselor reiterated exactly what Dominick had explained along with them alternatives of not taking a Reverse Mortgage. Dominick was with me throughout this entire process to closing. I would definitely recommend AAG and to definitely ask for Dominick.
Representative was very knowledgeable and helpful from Day 1. AAG sent info that answered most questions we had on Reverse Mortgages. Great experience. Would highly recommend AAG if you are in the market for a Reverse Mortgage. Our Representative Kevin ** was one of the hardest working and most professional Representatives I have ever worked with in any Company!
After years of trying to decide whether or not to get a reverse mortgage I went to AAG's website to see what they had to offer. Shortly after I got a phone call from Brian from AAG. We had a discussion for an hour or so. He answered all my questions and made sure I was getting all the information I was looking for. I was impressed by the way I was treated. I never felt rushed. He never gave me the impression he couldn't wait to hang up and go on to the next call. It was such nice experience. I finally decided to apply for the reverse mortgage.
The application process was extremely easy. When there were papers to sign they sent a person to my house; I never had to go anywhere during this process. The counseling part was an hour phone call. They sent the closer to my house for the final paperwork that had to be signed. The whole process from original call to closing took less than 6 weeks. I now have a line of credit to use whenever I want. I heartily recommend AAG. They are fast, efficient and know how to treat their customers.
Thank you for sharing your personal experience working with American Advisors Group. It's great to hear that our team did such a great job throughout the entire process. We appreciate your business.
-AAG
My agent John ** did an excellent job of explaining the details of the process. The process itself was relatively simple although there is a massive amount of paperwork. In my opinion, the only negative is the total amount of fees that are charged.
The entire process went very smoothly. I appreciate Dawn's patience and persistence in helping me get all the necessary documents. Steve and Dawn were very good at answering my questions and moving the process along.
Mr. ** you were very professional and always available to assist me with my reverse mortgage with courtesy and kindness. If I needed any explanation with my loan, you were patient and made sure I fully understood your reply. It was a pleasure to work with you and a comfort knowing you would be there to assist me in this endeavor. I would highly recommend AAG and you, Mr. **, to anyone interested in obtaining a reverse mortgage. I appreciated the assurance you gave me throughout the whole time working with me and lifting the heavy burden I was carrying at the time I contacted you for assistance. Thank you very much for all your help and advice you gave me step by step. You were very informative at all levels of my loan.
My experience with AAG staff very helpful in every way possible. I was most comfortable working with Roxanne **. She kept me up to date on my progress weekly, could not thank her enough for all her work.
I was treated with the utmost respect. All my questions were answered and re-answered even when I would forget that I had asked before. Candace ** was wonderful to me and I was grateful for her honesty and help during this process, which really went rather quickly without too many stalls. Pedro ** was also excellent in his attitude to me and treated me very fairly. Thank you for helping me have control over my home equity.
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Things went smoothly, I enjoyed working with Mike ** and Katherine **. I received my first payment faster than I was expecting. Everything was quick and very professional. Would give AAG an A rating.
My wife and I are within a year of retirement. Both of us are self employed. ALL of our bills are either paid off or up to date. Credit scores over 700, my company Dunn & Bradstreet rating is over 80. AAG just had my house appraised at $460K and I owe $165K (mortgage & equity loans) as part of a reverse mortgage application by us. I am wishing to borrow slightly larger than what is owed; still way less than 50% of the appraisal value. What this means to us is that I'll will outlay less (appx 2/3 rds) on a month basis than we presently are (and next year on social security).
This process is extremely unfair to those individuals that are self employed. Let alone a household where both spouses are self employed. We were asked to supply 2 years of private tax statements. We were then asked to supply 2 years worth of corporate tax returns for both our companies. Between the actual official filling out the application, meeting and the internet/phone contacts with AAG representatives; we have been asked to supply duplicate number of times the same information. We have been asked to supply letters from our accountants that we are the sole owners of our business even though this is declared on the way tax returns are filed. I had to supply all of the information on any savings or retirement accounts that I had. I have been asked for this year's profit and loss statements for this year to date.
How many people that work for someone else and applied for a reverse mortgage been asked for all of these papers? Are you telling me that if someone worked for a large corporation like Microsoft and went in to apply that AAG would go to that person's company and ask for corporate tax documents? Don't think so. The federal government has accept the paperwork submitted, both private and corporate, as correct. But AAG doesn't appear to trust it. I was told that AAG cannot use data like FICO scores because it's based on the past. They cannot use the data from the future, as we are retired and on social security in ten months; so that all of our present financial income will change. Yet they want you to supply the past 2 years of tax returns (the past) -- that AAG doesn't seem to trust the information anyway?
No matter how you look at it; we self employed people who have survived through the years of good and bad. Have contributed to the growth of jobs. And have used the legal methods; outside CPA, of accounting. Have been discriminated against. Ask any immigrant that has come to America why - and a universal answer is - the land of opportunity. That is what small business is... Now I'm/we are in a position to finally reap some of the rewards from many years of hard work and retire comfortable and on the closing steps out the door = I have to promise my next of kin as collateral -- even when after years in business and we/all have reputable reputations both morally and financially. Slap in the face - once again. Thank You AAG.
Oh Yes - still trying to get the deal done -- about 5 months later -- on a no brainer -- Lower my monthly outlay by 2/3 with reasonable reimbursement from social security (both) and any retirement accounts. HMMM paying less and making more when we retire than when we were working... House paying mortgage from equity, which we presently pay for from directly from earnings. Borrowing less than 50% of the equity of the house - no brainer. Thanks AAG.
I must admit, It wasn't easy working with me and I apologize sincerely on that issue. Lara was patient with me in all my frustration trying to comply with the required requested information. The biggest problem for me was trying to comply with what was needed at the same time trying to recover from major surgery done May 30th. But Lara stuck with me like a true professional that she is. We eventually reached the end of the process and was very happy to see the results of her gallant efforts for me and my wife to succeed in securing this reverse mortgage. I realize many people on your staff worked together to make this happen. My wife and I want to thank all of you from the bottom of our hearts for this professional journey for a better life. God Bless you all.
Our experience and time spent with AAG was good. Candice was the one who made this process so quick and easy... Candice ** you were always so pleasant and helpful with every phone call. Thank you to you and also your team.
Our experience with AAG and securing a reverse mortgage was a long and drawn out procedure, mostly due to our needing to upgrade and/or repair various things around the home. I have to commend Vincent for his total support in helping us to achieve this. He never quit on us and believed that we could get it all completed. He treated us with respect and we totally appreciated that. The processing people at times left a little to be desired. It wasn't until the loan was assigned to the last processor (and I apologize that I do not remember her name) that things finally came together. She took the bull by the horns (so to speak) and went above and beyond to get this wrapped up and done. Because of Vincent's help and attitude I would recommend AAG to anybody interested in getting a reverse mortgage.
I have had numerous problems along the way getting AAG to resolve this claim including receiving checks that had to go back to AAG because the payee would not accept the check. Primarily I receive different instructions with each conversation I have with them. We are at the final 25% of funding for the repairs. Prior to todays conversation, I was told that once 75% of the work is completed, call in to arrange for an inspection and once verified, the remaining funds would be released to finish the repairs.
In today's conversation I was told that that is not correct. They want me to pay for the remaining repairs & will reimburse me after I pay thousands of dollars out of pocket, including a contractor waiting to get paid. I asked to speak to a supervisor and was told that yes I would need to pay first. Instead of working together to make the repairs a smooth process, everything has been made more difficult. I am very dissatisfied with the service provided and I would not recommend AAG.
A few minor required delays re processing and finalizing the loan but: Absolutely great communication and customer service with my loan officer Mario **. He ALWAYS kept me informed and returned my calls promptly. All of my questions were answered with a thoughtful and courteous attitude. Overall a very positive experience.
Everyone at AAG were super nice and cordial to me. They helped get my reverse mortgage done quick and walked me through everything from what I needed to know and what I needed to do to accomplish getting the type of loan that was just right for me.
My loan officer, John **, was extremely competent and knew just how to speak to me so that I would listen and hear what he was saying! Throughout all the obstacles that we experienced, he found a way to keep me thinking positive and to believe in this "new vision" that we had created for my life. I believe that I made a decision that is right for me and would tell my peers that and explain why. I look forward to enjoying this new freedom!
Roxan ** did a great job on our loan. She was very pleasant and efficient while working on our Reverse Mortgage mortgage request. Highly recommend her and your firm. Everyone that we dealt with was a pleasure.
Applying for reverse mtg. was our last choice. We were very skeptical. Once the process began when Charlie **, my agent, spoke with me, our skepticism began to fade. He answered every concern we had. We endured the “paperwork” which was based on factual info. Patience prevailed. All AAG reps were patient & very helpful. Soon - three months - later we were given the amount we requested. Small is fine. Have patience, follow directions & you will achieve your goal. Thank you AAG for your patience. We are very pleased to recommend you.
My overall experience with the service provided by Joe **, my reverse mortgage advisor, was outstanding in every way. He gave me a comprehensive and detailed explanation of all the aspects of the reverse mortgage program, answering all my questions and always returned phone calls in a timely way. He stayed in touch regularly and frequently on progress and how things were proceeding, always courteous and helpful. I am extremely pleased how everything worked out and am grateful and appreciative to the American Advisors Group and to Joe for helping me obtain the reverse mortgage.
AAG did an excellent job of guiding us through the process, suggesting who else to seek to clarify any questions about a reverse mortgage and then stepping us through the process. Follow up was excellent, I would (and have) highly recommended AAG to others.
Heather ** provided top drawer advise and care throughout the lengthy process. She was patient, caring, focused, and able to respond to all questions and concerns. AAG is fortunate to have Ms. ** as a professional representative. Thank You HEATHER!
From my first phone call to the completion of my reverse mortgage everyone I was in contact with was extremely knowledgeable and helpful. Five stars (*****) to James **. His knowledge and understanding through the whole process was priceless. From the many questions he answered to the follow up phone calls he made to keep us updated was really appreciated.
Very helpful over a long time period! My only concern was just before closing I found out that the taxes, which were included in the loan for life, was way too much, about 2,200 per year to much times 13yrs. That delays us getting this money which is a very big concern to us!!!
I emailed them requesting information on a reverse mortgage and must have given them my cell number. Shortly after I start getting like 15 calls a minute from them, even after calling them and asking to be removed. They just laugh and hang up! Their number call from is: 949-751-4598. They will robocall you to death! Lucky I have AT&T and they have "Call Protect" to stop these robocalls.
Good experience. Nice follow up from Sean and Nora. The reverse mortgage accomplished what we wanted to do. William the notary gentleman was great... he took his time with us and explained what the pages meant as we went along. The only recommendation to you is that you make sure we are contacted in plenty of time for the closing. For whatever reason we only knew about the closing on the same day, and we had already scheduled our day. We ended up closing from 9 p.m. to midnight because the dated closing papers had to be signed that same day or we would be penalized. Overall, it was a good experience and we thank you.
I certainly would recommend AAG to a friend who was; like myself; looking for a way to make ends meet if they retired. Terry and all the other people at AAG that worked my account were very clear and helpful. I want to thank them all for helping me navigate this uncharted territory.
Robert, Thank you for working with me every step of the way to obtain the reverse mortgage from AAG. This unlocks the locked up equity in my home and is helping me balance my budget on my low, fixed, retirement income and to do things I wanted to do at my current age of 77 years. This FHA Insured loan program is a winner and all of your efforts are greatly appreciated. Have a great summer, I know I will.
Both Ryan ** and Daniela ** were extremely helpful in completing the Reverse Mortgage on my mother's house. There were a few setbacks and much follow through in order to complete the transaction. At the end we needed a little help from Jeff ** to get it finished on time, but we are grateful that everything got correctly finished on time to take care of my mother.
I found AAG to be informative and was able to walk us through a life difficult decision and see the positive and negatives of a refi. I had concerns that were answered and explained in a way that made me feel comfortable about the decision. Thanks AAG.
It has been a wonderful experience. With all the bumps we encountered along the way, everyone was there to assist and encourage me. We cleared thing up and finalized everything faster than I imagined. I would recommend your company to anyone who is thinking about a reverse mortgage. Tell you everything, are very friendly and keep you up to date and well informed on the status.
Charlie was the key to making this whole process so simple. He was very professional and would not hesitate to recommend him or the firm to my family or friends. Thank you Charlie for all your help and making this so painless.
I was very pleased the way that Mr. ** led me through the process. He made sure that I was always updated and understood where we were in the process. In fact, everything was handled in a timely manner. I would recommend anyone that is interested in Reverse Mortgage go with AAG.
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.
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.
