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.
My experience dealing with AAG to date has been with Scott **. He has been friendly, courteous, knowledgeable, extremely helpful, and patiently kind enough to wait a considerable time while I made up my mind about a reverse mortgage. He was excellent with follow-through on providing information and follow-up whenever I needed to furnish info to him. I would highly recommend dealing with Scott if you are considering a reverse mortgage with AAG.
My finances took a drastic turn for the worse and I came to realize my best asset (100% equity on my home) was my way out. I researched home equity lines of credit, credit reconciliation companies, bankruptcy options and reverse mortgages. When it became obvious that the reverse was best suited for me to honor my financial obligations and still enter my senior years with some security, I set about researching several reverse mortgage companies. I chose AAG and soon learned I could not have made a better choice.
My loan officer, Lindsay, treated me with respect, maintaining a professional yet friendly attitude during the entire process. She answered all my questions (I had many: I am a paralegal and read EVERYTHING) accurately and with aplomb. Though there were a few hiccups during the process, she and her associates expedited the paperwork to the extent that resulted in my getting everything I expected and needed well within the time frame advised. I highly recommend this company and especially loan officer Lindsay. Ask for her.
My husband and I live in a very nice manufactured home on a little over an acre. Because of my anticipated medical expenses, we felt very pressured to find a way to pay the bills. We were helped immensely by Robert at AAG. He patiently explained the process of getting a reverse mortgage loan and we decided that would benefit us. It took four months to complete. This was very stressful for us, sometimes we felt that the loan wasn't going to go through. The appraisal was a bit of a nightmare, and the underwriting didn't send the necessary paperwork for the foundation inspection. Finally it all came together, and we thankfully have our bills paid and are in the process of repairing a few things (like tires on vehicles). The idea of the reverse mortgage is an excellent one for seniors. I am thankful it finally happened for us.
DEBI ** DESERVES a PROMOTION! With all the delays and frustrations satisfying H.U.D. I was getting very frustrated with the process becoming so slow I was beginning to feel ill. Debi was so confident and compassionate she brought me back from feeling too much stress to Sheer Relief! I want to publicly Thank Her for Her Relentless and Tenacious Work Ethics! Thanks Again Debi **. GIVE HER a PROMOTION!
Our contact with AAG especially Kellie and her assistants has been more than we could hope. Questions were answered promptly and professionally... We feel so much better about our financial situation.
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I had a pleasant experience with everyone involved with this mortgage, especially Debbie **. She was friendly and helpful in all areas. Other people involved with this loan were friendly and respectful with my needs. Thank you all for this pleasant experience.
The response on their end was very slow process, three months! I expected more from appraisal but, was a low ball amount but, I qualified. The only Rush was when Notary arrived with paperwork to be signed! I reviewed closing cost's, seemed high at $9k, I discussed with AAG contact, it was explained at that time. This was how it was to go through too final signage per my contact! After all was complete on their end, I was approved! I expected notary within days. When She arrived was in hurry, she sorted papers to be signed and notarized. I asked if there were any additions to discuss, Her reply was, No!
Two days later I compared first set of papers with final paperwork and found discrepancies in closing costs! The final paperwork showed an increase of $4.3k, now closing costs were $12,760.00! This was a horrible mistake. Could not be, correct! Wrong. AAG refused to correct this error and gave some very lame excuses for it! So, I was cheated it if $4000.00 by them!!! I would never trust them and if you use AAG, be sure to have the person, AAG Rep or Notary explain every detail before signing anything, period! Thanks.
My husband and I try to get a reverse mortgage with AAG, spent two months getting all our information together and having our home appraise. Then they come back with that FHA does not allow Condos for reverse mortgage. It's really not fair that only townhomes and houses qualify for reverse mortgage, and not condos. Very dissatisfied with how AAG handle our situation. The person we worked with was Carol **.
Our experience was fine. Our "go-to" person was the best and very attentive to our wants and needs. The people that were sent to help complete the process were very nice also. Good experience.
We had a slow start which made the process longer. Once everything was completed then the last month went quickly. My Agent that worked with me was so patient and thoughtful which completed all the information needed. All the people I spoke to also were so kind and helpful. But Terry ** was the best Agent a customer could have. He worked so hard in helping me complete and find all the information I needed. Thank you Terry. Yes I would recommend AAG to a friend or family member.
I say this because when you first speak to AAG it all sounds good. They neglected to tell me that I would have to pay $150.00 for a counseling fee (required) and $400.00 (required) for an appraisal of my property. They said that would be my only out of pocket expenses. Wrong. I did not have straps on my water heater and had to buy them and have them installed and the appraiser had to come back out and take a picture in order to proceed. Nobody told me that this charge of $175.00 would be tacked onto my reverse mortgage loan. Communication is poor. As you progress through the process. The latest is I was supposed to have money from my line of credit, I recommend this to all, it earns 5%, on 10/23. Never got it. Took 3 days for AAG to respond to my phone calls and emails.
Supposedly the money was put on hold due to The California wildfires and the president declared a state of emergency or disaster area. Even though my home isn't near the fire area I have to have it inspected again to make sure there is no fire damage, a HECM requirement. OK but in the meantime, AAG has a lien on my home and I don't have the money I was supposed to get. Am I concerned? VERY! I grew up in this house and don't want to lose it due to a government issue I have no control over while AAG has control over my house. Be prepared to sign your life away more than once, be prepared to give them information that you have never had to give to anyone before because if you don't they won't process your request.
Updated on 11/22/2017: I went through a lot to get this reverse mortgage. Communication was poor. Lots of things left unsaid and tacked onto my reverse mortgage loan. Had a problem due to President Trump declaring California a fire disaster area. Stopped my loan. Nobody contacted me regarding this for three days even after repeated phone calls and emails. Got the money eventually a month later and then I found out they tacked on property tax to my loan after I had already paid the County in full. They are supposed to send me a refund. Don't know when that will be. If I didn't need the monies to do repairs I never would have started this in the first place. Changed Loan officers on me at the start after he had gotten all of my personal information. He was fired. He had cancer. Or so he said... Signed my life away and my house. Be careful folks before you do this with AAG.
We initially were very pleased with Adam **'s sales process. He explained everything in detail and we had all of the documentation required (so we thought). Adam ** is a liar. Flat out. He should he stricken off of President's Club. Our home is paid off and we have had to use our credit cards and cash/investments to pay for cancer treatment. When we started this process, we still had cash reserves plus monthly royalty payments from gas income, Social Security and my husband's income. We were told that all of this would be 'A-OK and Fine!'. Lie. After 4 months of the 'back and forth game' about gas royalty payments, the appraisal expired and they stopped returning telephone calls and emails. We were 'conditionally approved' 2 months ago and fulfilled the document requests for this condition.
My husband drove to their offices in Orange, California to speak with Mr. Harold ** (the customer service 'manager'). No one was available...in THEIR office?! ** then stopped returning telephone calls and emails. When he did finally reach out, our financial affairs had imploded due to cancer bills and we were waiting like welfare recipients to hear back from this company. They would not accept my husband's income as it was 'not in English' (all documents are from the UK... not in English lol). All tax records provided, all bank statements etc. We were told we would have to pay to have these 'translated into English??!' and then reapply as everything had expired on our initial application.
After all of these months, my husband has been thrown out of his care facility as we cannot afford to pay. I explained to ** that if Adam ** had simply said 'NO, we can't help you', we would have listed our home for sale and sold it months ago, avoid all of this. Instead, these people are LIARS, DECEPTIVE and most of all they discriminate against people due to age. My husband is 42 whereas I am 64. I have been told that it is not in their interest to fund a reverse when there is a living spouse with 'so many years left to live'. I am definitely heading to the Better Business Bureau and also taking a law suit out on these people for discrimination and horrendous business practices.
I am a patient man who prides himself on tolerance and undemanding. I also realize these matters take time; 7 MONTHS is not reasonable when I can clear and transparent from the VERY BEGINNING about everything. Mr. ** and his team are LIARS and UNETHICAL beyond comprehension. I do not know how they sleep at night, screwing and setting people up in such a way for failure. Please do yourself or anyone who is considering using these people: Just sell the house and move in a different direction; it is less headache and heartache than watching your life wither away waiting for another set of lies.
It was a pleasure working with Harvey **. He did his best to keep things rolling along and he was always responsible, respectful and humorous. The only problem I had was the long delay before October 2 because so many people were trying to get in before the reverse mortgage regulations changed. It meant waiting around a week and a half for something that should have taken a couple of days. Aside from a few delays during the two-month process, I was very happy with my experience and I'm thrilled I now have a reverse mortgage. Thank you.
The agent for this company (Gayle **) was wonderful to deal with. She was there each step of the way. She was careful to explain things in an easily understood way and was reassuring and helpful about paperwork and documents needed. She phoned and e-mailed at junctures and each correspondence was helpful and reassuring about the process.
I was fully advised on the details of a Reverse Mortgage and how it would be helpful to me. The process was thorough, and timely in moving from step to step. The personnel were pleasant and helpful... comfortable to deal with. I would recommend AAG to others.
I am very happy with the outcome of my reverse mortgage. My loan officer, Michael **, was extremely helpful in answering any questions/concerns I had and very prompt in returning phone calls. He continually kept me apprised of the progress of the loan from beginning to end. I would highly recommend him and American Advisors Group.
We were able to contact AAG easily and got ball rolling that day. We were kept abreast of all aspects of the process. Only problem was not getting a list of needed documents so had to do that part piecemeal which took longer than normal. Still, worked out well and received funds. Began process in early June and had funds at end of August. It was worth the effort and appreciated Ms. ** assistance.
My primary problem was lack of communication with the person named Michelle who was in charge of processing the loan. She gave me a phone number which she insisted would reach her directly but which was always attached directly either to a fax machine or computer not to a person. Additionally, I was asked repeatedly for duplicate copies of information such as income proof, SSA information, bank records which always seemed to get 'lost". Had it not been for the work of Ms. ** and her boss this loan would still be lost in processing. Lastly, there was a serious difference in the initial sum of money suggested I would receive the first yr and what I received even though the appraisal was higher than first estimated.
My advisor was very knowledgeable and if had to find out the answer to a question he was not sure of he would take the time to find it and call me back with the answer. He would always return my calls and was very friendly. I am very satisfied with my experience dealing with AAG.
Customer service was extremely very professional especially Shaunee **, want to really thank her for her help throughout all the process. She was very thorough explaining all the steps and always updating us on the status of our application. We did have an overall excellent experience with AAG in our reverse mortgage loan.
I got what I wanted - no more mortgage payments, but the process was daunting. I started out the first week of June and just finished up the first week of October. There was a definite breakdown in communication several times. I was told no more mortgage payments in August, but when I kept checking my mortgage acct, it wasn't changing to 0. My payment for Sept. was due. When I called my loan officer, he said the underwriters had pulled the loan, but he did not inform me. The signing had to be done over & he told me that I would not be charged for a resign since what happened wasn't my fault.
I was charged for it even though I brought it up to him again and he reassured me that it would be gone on the third signing. The second signing was voided because AAG rolled my property taxes in & I had already paid them. Why didn't the loan officer tell me that was going to happen? I would have told him that I'd paid them. It took so long that "things" expired & I was recharged for them - credit reports - payoff amounts - etc. Like I said. I'm mostly satisfied with the result even though I gave up fighting some of the charges even though I was told they would be taken off.
The entire team was informative, courteous, and knowledgeable in every area of my concerns. During the past year or so, I have had some doubts about Reverse Mortgages. I chose Adjustable, rather than Fixed Sum. That works best for me. I now have a better cash flow.
We received prompt and professional service from AAG as soon as we contacted them about our interest in doing a reverse mortgage. All contact was personal and informative and we were walked through the process every step of the way. We are happy with our decision to go with this company for our future retirement needs!
There are a lot of reviews about how great and easy it was to get into a reverse mortgage but not about those who are trying to get out. My parents were talked into a reverse mortgage thinking it would help them save on their retirement income. They had plans to move from their house in a few years and told this to their representative. They were given false information about how the interest would work and soon found they were losing $1000 a month just in interest.
They decided to sell their house to get out of the mortgage. The day of the closing AAG changed the amount owed to cover the whole month instead of the prorated amount, and overcharged them. Now they are waiting on a refund check for an overage that should have never been charged. I hate to think what might have happened had they not noticed the overcharge. Buyer beware, make sure you know what you are getting into and for those getting out make sure that AAG does not overcharge you.
We were very pleased with the services rendered by AAG. Process was lengthy, however, understood due to the amount of guidelines that had to be followed. Felt that they were honest in their answers to questions. Thank you for your services. Think we filed at right time for we understand there will be some changes that may not be beneficial to us.
Thank you, the agent that I worked with was so good, I'd use him again in a minute. He kept me informed throughout the whole process. He called me weekly to keep me updated on my journey. I would, and am recommending AAG to all I know about reverse mortgage with AAG. AAG is a company that I trust with my future.
Mr Anthony ** handled my mortgage with AAG. He was excellent in every way. Very knowledgeable and answered all my questions easily and completely. I feel I have made a good friend and couldn't be happier with the entire transaction.
Other than the failure to fully inform me as to how long it would take to fund my loan once it had been "approved," I have no complaints. That, of course, assumes that the info I was given on my ability to repay the loan which was required to be funded at the closing and the % "increase" on the amounts which I don't borrow is true.
The overall process of completing the reverse mortgage loan was complicated by the constant lack of information provided about FHA requirements. If one assumes that the applicant has been in their home for several years and that FHA requirements have changed over the years it is likely that there will be compliance problems in the home. If a simple overview of the current requirements was provided to the applicant as part of the pre-application packet then it would be possible to avoid compliance problems that would be found during the appraisal process.
Also, the types of certifications needed from contractors concerning repairs or maintenance programs could be obtained prior to the inspections. This information would have saved much lost time and frustration in the ready to "show" your home in the ready stage. I felt the AAG staff was likewise less effective in bring about a smooth application process because of the repeated lack of readiness from the consumers. This circumstance must be common as they were very understanding and kind in helping me through the entire loan process.
We were so very happy to have been lucky enough to have Suzanne help us through the whole process. Suzanne was always patient with us and explained things to us often more than once. She responded to our e-mail messages very quickly which surprised us. She made us feel we were her only client. I'm so happy to have an opportunity to share our experience.
American Advisors Group (AAG) Company Information
- Social media:
- Company Name:
- American Advisors Group
- Company Type:
- Year Founded:
- 3800 W. Chapman Avenue
- Postal Code:
- United States