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.
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.
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.
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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.
Our experience with AAG throughout the entire process was excellent. We felt that everyone we dealt with was professional and very courteous. All the people we talked with treated us very nicely. We would recommend AAG to anyone we know.
This process was relatively smooth as I had great guidance from AAG in what would happen, when, and how. I'd highly recommend this company for a reverse mortgage. It takes a while but worth the time!
Very enjoyable experience. Was not hard to do at all. All the people we worked with were true professionals and did an outstanding job of explaining everything. My only concern with the process was the fees that are involved which were all explained fully but still seemed to be a bit much. Overall a great experience.
AAG and Ashley ** in particular made our experience with AAG very and with minimal stress. She was concerning and answered all the our questions/concerns and monitored the process from beginning to end. Very easy to talk with and personable. Would highly recommend AAG and their staff.
Our experience was very satisfactory thus far. Hopefully this will continue over the years. The only complaint we have is with a third party (Title Search Co.). They had us mixed with other Linda **. Other than that again we are extremely happy with the process.
Thought long and hard about doing this but in the near future it will need extra cash. Whole process was fairly easy, I just collected documents needed and the rest was like a regular mortgage, lots of paperwork to sign. The only hard pill to swallow were the closing costs, $10000 for HUD Mortgage Insurance and about $11000 for closing costs. So for $21000.00 I have peace of mind til the end of my days, Hard to put a price on that! My Agent was Evelyn **, a very nice and knowledgeable Lady. My advice - Go for it!
Everyone I spoke with or dealt with did a great job. My only problem with the process was when I would be told only one more thing would be needed and I would have to send several more things. Seems like too many things were required but overall it was a good experience.
I’m not writing this to scare you away from a reverse mortgage but to share our experience using AAG. We hope other families can get something positive out of the Hell we endured from AAG. We started the loan process with another company but I became a little nervous when they wouldn’t disclose their investors or where the funding was from. I went with AAG because they were supposedly the #1 company (so they say) and offered a better deal but we ended up with one that was way worse. It was supposed to be a quick and easy 15 day turnaround loan process since we already put together all the loan docs needed with the previous company which met the FHA guidelines for approval. The appraisal and terms of the loan needed to be completed to fund the loan. I was told by my advisor (who I had to train how to do his job and that’s no lie) that it would be painless so don’t worry they would take good care of us.
We started to work with AAG in July 2017 and it was finally funded in March of 2018! YES MARCH OF 2018! We were lied to and went through a endless series of problems that were created by all their mistakes, unprofessionalism, carelessness, lack of experience and knowledge, poor management and complete chaos in their organization. The appraisal wasn’t completed until Nov. 22nd and had to be done by their appraiser only. We were given every excuse possible for the delays until I blew up on the advisor to learn. He dropped the ball and no one ever ordered it.
I had no other options of going elsewhere because the laws changed on Oct 1st and we would had to start from scratch and not be able to get the same loan The rules had changed and the allowed % of cash that can be disbursement decreased dramatically and would have be useless for us. I learned all of this when I escalated my problems to a supervisor who said she would do anything to speed up the process that we had to wait our turn in line. There was double the volume of loans since Oct 1st and They were short people. I said our loan has started months before those and we should be ahead of them but she said no and said I could take my business elsewhere if I didn’t like it. They knew our hands were tied so what could you say and she took great joy in shoving her power back in my face. So I was sent back to my advisor who told me every two weeks the loan would be done for next 3 months until I finally lost my lid.
So I called the receptionist and told her I had a special delivery for the CEO and could I speak to his secretary. When I finally reached I told her what we were going through to that point and calling my lawyer to file elderly abuse charges. That changed their tune and it still took another month of their stupid mistakes but the loan was funded the first week of March. I told them to stop calling me over that time and I didn’t want to hear one more fake apology. When the loan was funded they could email me. The morning it was the finder the advisor called me to tell me but I hung up the minute I heard his voice and have spoken to them since.
You can’t even imagine how those 7 months of Hell affected my 84 yr old disabled mother. I was week after week of promises that it would be done and we needed to stay at home to sign the final loan docs with their Notary who had to come to the house. We couldn’t leave our home because the loan could be approved for funding at any time and docs needed to be signed within a day so they said. You have no idea the toll it took in her spirit and how she felt about her losses.
When you apply for the loan you have explain why you want the reverse mortgage and certain reasons wouldn’t be approved. Our plan was buy an RV to take a 6 month vacation across the USA/Mexico/Canada that we had planned our whole lives. It was our final item on my mother’s bucket list. I write this with tears because it never happened and now she’s too ill to do it. What can I say or how could I ever apologize enough to her for what has happened. She missed her first Great Grandchild’s birth, all the holidays which might be her last and so many other important final events for her. I’m not asking for anyone's pity but I wanted you to know what they’ve done to my family and those ** haven’t called, sent a card or apologized for the HELL they put her through! HOW MUCH ** RUDER CAN YOU GET!!!
OH but wait because they found a way! Three days ago when I was looking at our first statement We’re paying interest on a line of credit we don’t have access to for a year which goes into their pocket!!! You would think that interest would start when you are able to have the money and not be forced to pay for it prior a year prior to the access. My name is Eric and I hope in some small way this helps you when deciding to use this company for your reverse mortgage. Please don’t be discouraged from doing a reverse mortgage because it was the right option for us but DON’T USE AAG! My email is ** if I can help.
Could not be more pleased with the entire process. By the end of the second conversation with Adrena ** I was sure this was what I needed to do. She convinced me to read the material and watch the video and having done so she walked me through the process. She made herself available every step of the way, answered questions and took care of several problems along the way. Cannot say enough about her effort to make sure that we were taken care of. Thank you Adrena, you are truly a major asset to AAG.
Excellent service from my advisor, Jason **. If Jason didn't know the answer to any of my questions during the process he would find out and quickly get back to me. All in all, AAG does an excellent job of thoroughly investigating the borrower and explaining a rather complicated loan process.
Our agent Manuel ** was very good, he kept us informed either by phone, e-mail or mail. I would rather have been able to go into an office to do paperwork and have things explained to us. When we had the Notary lady come one night, it was a bit overwhelming. I couldn't believe how many papers there were to sign. It was virtually impossible to be able to read all of the papers thoroughly.
From the very first contact with our loan officer on the phone our experience with AAG has been informative and supportive. Bonnie and Ed took us through the steps on what paperwork was needed and helped us go through this process painlessly.
Working with Josh ** - I was very pleased with my loan officer, Josh ** who always seem to have the right answers for my questions. Everything he told me from day one was correct. The process was very simple except for all the paperwork I had to sign. Good luck in the future to Josh.
questions. They also completely explained in a manner in which we could understand. We would definitely guide our family and friends to call AAG for any reverse mortgage interest.
AAG reverse mortgage - not in your best interest - they foreclose when (in their opinion) you're not able to keep your property maintained - and as you get older, maintaining your property becomes harder (and more expensive). AAG foreclosed on my dad when they declared the property was not properly maintained. Dad covered the taxes, covered the insurance, did what he needed to do like he was supposed to do. But AAG declared the property (their property, by the way) not kept up. They foreclosed. The house went to auction at the county courthouse. A house flipper bought it with cash.
The house flipper got the sheriff to evict my dad from his own home. We sought legal help, but it was too late. In disbelief, we had to quickly scramble and dispose of all his property and move dad into an expensive apartment with stairs and a whole new set of challenges. Don't get into this arrangement. Sell your house on your own terms. Don't believe the Tom Selleck commercials - which is what prompted me to write this review. This is a (slimy) big business for them. Our entire family has been impacted. Please seek some other avenue, on your own terms.
Lance ** was the loan officer I dealt with and was extremely professional and exceptionally polite. Only issues was pertaining to some documents that were required last minute before closing (through another person), but when Lance got involved the problems were solved. Great job Lance!
For the most part, the experience with completing my reverse mortgage was great. The only recommendation I'd make is to improve communication. In the beginning the communication was great. Greg let me know what was happening and what was about to happen. Further down the line, though, it wasn't clear to me what was happening. After the appraisal, for example, I wasn't sure how the estimates were affected since the appraisal was somewhat lower than the original estimate. I asked for an updated Good Faith Estimate but didn't receive one until the day we were to sign the closing papers.
AAG staff great! Felt like they became part of my family! We had one problem, we had to go through 2 separate appraisals. The second appraisal was $21,000.00 higher than first and was more accurate to the sale prices around us last few years.
Dealing with Chris ** and Joseph ** was a pleasure. Both were pleasant, courteous and knowledgeable and kept us fully aware of the progress of the transaction at all times. It is necessarily a tedious procedure, but they made it as pleasant as possible.
Angie is truly an excellent agent. She is very knowledgeable about the product that she is selling. It is a delight to work with a person that knows and presents the details of her product. We were kept inform at all times of the status and the progress of the project.
I never realised how much work went into obtaining a reverse mortgage. I would like to thank Allen ** and Christina ** for their help, they were very helpful and professional. Thank you so very much. Looking forward to future contact if needed.
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.