American Advisors Group (AAG)

The reason I came here was for the horrors my in-laws are going through with their reverse mortgage company. AAG has been great to work with. I became aware that we could purchase a house with a reverse mortgage, about four and a half years ago when contemplating retirement. We had some money in 401Ks that would never have provided enough income to cover a mortgage payment, but, if withdrawn properly, and even paying taxes on it, would provide us enough to buy a house that would suit our needs forever. We w/d just what we needed to make the purchase in October, w/d what we needed to pay estimated taxes in January. That way we didn’t have to pay max taxes on what we had to w/d for taxes.

My wife is retiring within a year, but she got laid off for several years, and we lived on my 401k along with a bunch of stuff. I was already retired and couldn't get a job at my age, and nobody would hire me. So, we kinda burnt up all our savings trying to live. Then we still have a house payment, but if we could get rid of that and a couple other bills, she could retire. We could still live off of my pension and our social security, and not be too strapped for money. And a reverse mortgage would take care of our house payment for the next 10 years.

I’m basically up against the wall right now. The house needs repairs, and the mortgage company that my father left me has been pressuring me to sell the house and give it to them. But I’m not giving up a quarter million dollar house for $20,000, especially this is the house I grew up in. Looking into reverse mortgage, I compared AAG against other organizations and George, my point of contact, gave me a number that I was happy with. My wife and I went over their estimate and it looked like the numbers were right.

My house really needs repairing bad so I wanted to apply for a reverse mortgage. I saw American Advisors Group's commercial, I got some information and read it. I felt like they were the one, that they wouldn’t lie to me and they would work with me so I decided to apply through them. I love working with their loan officer. She was very warm and friendly. As far as the process, I know I’ve told her to keep my file open because I was in the middle of getting a divorce. And she said, “I’ll wait. I’ll check with you about every three to four weeks,” which she did. Next Friday, my divorce will be final and I have a conference call with the people in charge. The loan officer told me to tell the people in charge of my divorce to fax the document over, whatever it is she needs, so she can get it into the computer system that afternoon and we can get started. I told her, “That’s fine. I’m going to Tennessee for a week and then I’ll be back.”

Our mom has dementia, and with her needing to get some care at home and getting her house fixed, we decided on doing a reverse mortgage. We figured that she has got the equity in her house, so we might as well spend it on her. We looked at a lot of companies and we were sold with American Advisors Group because of Rodman. He has been very good about getting back to us, answering questions and sorting out the details. If it wasn’t for him, we would have avoided a really big company. There were also other companies with lower quotes, but Rodman has been very helpful and excellent.

We learned a lot from American Advisors Group (AAG) and the information we got was wonderful. But I can't believe the 20 sheets of paper I had to sign. Somehow, that should be cut down. At first, when I was told I gotta sign all that, I said to forget it. My daughter was sitting right there and said I better sign it so I did. It's not fun having to write your name 20 times at once in one morning. If possible the papers could be grouped into five each.

AAG has performed perfectly in delivering personalized service, understanding my goals and answering all of my questions. My contact is tremendous and very helpful. I'm most impressed by his down-to-earth style. I’m looking forward to continuing the process, and I recommend AAG to others.

After working with John ** for over a month sending more and more paperwork almost daily, they just disappeared. Did not even have the decency to call me and tell me I had not qualified or anything. Even e-mailed him and asked if this how they do business, etc. NO ANSWER. Very bad business practices.

You reach a certain age that you realize that you’re not gonna be able to work much longer. Right now, all I have is straight Social Security and I have Medicare to take care of my physical needs. I went with a reverse mortgage mainly to supplement my income, pay off a few debts, and consolidate everything else. It’s the first time I’ve ever worked with American Advisors Group. We’re at the stage now where we’re about to have the appraisal and AAG has delivered the service wonderfully. I have a loan with my regular bank, and that’s one of the things that they are gonna pay off. I didn’t expect as many forms as I got when the someone came by to do the notary work. But everything else is just what I expected. It was impressive how personable their loan officer was. He was nowhere near me, but he was friendly and he seemed to care about my situation.

We were thinking about refinancing our mortgage and our son suggested that a reverse mortgage might be a better fit for us. American Advisors Group was the only company I’ve heard an advertisement from for reverse mortgages. Joyce, the rep, got all the paperwork and called the right people. She helped us get everything set up and when she said something, she meant it. I wish the process could’ve moved along a little faster and since I was dealing with people from all over, I prefer to deal with them face-to-face. Also, I don’t know how to use my email efficiently, so I chose not to do this on the computer. There was a lady who came and we signed all the papers sitting at our kitchen table. She made a second trip out because I didn’t date something. We’re not completely done yet and the appraiser was here this morning.