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.
Overall, I was pleased with the experience. I worked with Robyn **, and found her to be very helpful and a great resource person. We did hit a few bumps along the way, but in talking with her, she was able to satisfy any major concerns I had. It gives me a degree of comfort to know that I now have a guaranteed source of additional income, should I need it, in the event of some unforeseen major expense.
Enjoyed talking with Nadine King. She is easy to talk with. That is the one thing I enjoyed the most! The processing was delayed due to the holidays and the repairs were delayed a little due to the winter weather. But, Robert was helpful working with me once he saw the processing had been delayed. So, I am very happy with the outcome. I may not have qualified for the reverse mortgage program without Nadine's attention to detail and her timely helpfulness walking me through the application process.
The only reason I gave 4 instead of 5 stars is because of the length of time it took to complete the paperwork/review and close. And I think AAG should give their local notaries more than 18 hours notice. My agent, Mario ** was excellent: well informed, helpful and quick to respond.
The agent that helped us secure the reverse mortgage was available to talk with me. I was able to leave messages or email pictures of family member whose signature we needed. Very helpful. Unfortunately the loan was stuck with the holidays of Christmas and New Years. Thank you AAG. Even though the total amount was less than expected it is all good.
We are pleased to have worked with Gregory ** and Deanna ** in securing the loan for Lorraine... I know a lot of others also helped with this endeavor and it was appreciated. Greg was very thorough, and encouraging, and Deanna very precise and both were a pleasure to work with them. My hat is off to AAG. Thanks again.
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We had a great experience with James ** who started the process with us and was always available to answer any questions or concerns we may have. When we were turned over to Brandi, the experience became frustrating in the extreme. She seemed to expect us to know the process and didn’t seem to have an understanding of what was needed. Process became very piecemeal. Thankful we had James to talk us off the ledge.
The process took longer than my original Reverse. Paperwork was requested and supplied but repeat requests for additional info was frustrating but had already been supplied. Some of the hold up could have been avoided if the person handling the paperwork could have told me unless water heater got the second strap the loan would not close. I had previously sent a note about this.
Good Reviews and Bad Reviews however, Honesty and Integrity are vital especially when you are required to provide extremely sensitive financial information. AAG fails miserably, misinforming and deceiving the Applicant, Real Estate Companies, Escrow Officer, and FHA Appraiser throughout the loan process, which did not successfully conclude in spite of written and oral communications to the contrary. The following will provide details and specifics associated with my personal experience:
On October 26, 2017, an AAG Vice President, JM personally assigned me to his loan officer NM. In my conversation with NM, specific requirements pertinent to obtaining a reverse mortgage loan were disclosed. They included purchase agreement, counseling, FHA appraisal, and financial disclosure, all of which were provided. Nothing more was requested or deemed required. I explained my current and past residency and lack of credit history. NM clearly indicated this was not a problem since I was "the perfect candidate for a reverse mortgage considering my age, marital status, and substantial net worth". Since that time, endless amounts of data have been requested and furnished whether the data was relevant or not. In early October the account was reassigned to JM immediately after NM had called to advise the loan had been rejected due to a conflict between the Sun City HOA Nora Fee, and FHA requirements.
A Realtor's interpretation of the facts along with my email to Mr. R. Jahangiri, AAG CEO resolved the issue overnight. The loan was then reinstated. JM has repeatedly lied, misled, misrepresented and failed to disclose requirements initially, and throughout the loan process. JM's standard answer is "I don't make the rules", but he certainly knows how to break them. This has placed all parties at financial risk, and in my case, resulted in health issues. The UNITED STATES OF AMERICA CONSUMER FINANCIAL PROTECTION BUREAU ADMINISTRATIVE PROCEEDING File No. 2016-CFPB-0026 of December 07, 2016 levied a $400,000 fine against AAG, its Officers and Directors for fraudulent actions comparable to that of what has occurred here. Once again AAG has violated Federal Law, and should be held accountable.
I would strongly advise that anyone considering a Reverse Mortgage require written specifics of exactly what is required of the applicant prior to initiating a relationship. Knowing if you will initially qualify is essential prior to releasing sensitive data and incurring significant expenses which will not be voluntarily refunded should the loan nor be approved for valid or invalid reasons. AAG refused to provide me with these specifics.
The last advisor was great. The previous one not so much. My experience was long 10+ months from the time I started and had check in hand. My experience was terrible in the fact that sending an email or making a call was grueling because it would take days or week for an answer. A lot of the time you had to do it twice. For a large company with their reputation is the reason I chose them but was very very disappointed.
Overall I was pleased how things went, I just feel like it took to long to complete the Reverse, seems like there was always an issue with something. But the loan office was great and so was the underwriter on keeping me updated on everything.
Tom ** & Rhonda ** were very helpful throughout the process. I have little patience with paperwork but they helped to get me through the process. Rhonda has an excellent telephone voice. This was important to me since I have hearing difficulty which is not fully corrected with aides.
Everything with our transaction was as expected. The staff, Francisco ** and Matthew ** made the process as best and as pleasant as possible. However, it will be the long term and future relationship with AAG that will count because I know we will have future questions and concerns down the line. But so far, AAG has been excellent and I would highly recommend them.
My mother has been dealing with AAG for over 10 months trying to secure a reverse mortgage. Every time she gets everything they need to process...something else comes up and then they need more and more information! She is now wondering if this is all a scam of some sort! If anyone is trying to secure something like this...beware...it could take forever. If you ever do get approved no one seems to know how to really do this.
I'm satisfied with AAG. Most of the members were very helpful and responded quickly to my questions BUT ONE member just won't answer my questions. Not sure why but it's over now. Some of the paperwork AAG needed shouldn't have been needed but I complied with their requests but it's over now!
This was quite a learning process. My counselor was extremely informative and called every week for a progress update. He was always available to take my calls or returned them in a timely manner. The first part of the application was smooth. It wasn't until the last month that issues occurred which pushed back my closing. The issues were eventually corrected.
Requested a very important withdrawal and needed it by the stated 5-day window. 5th day and no monies AND their office is closed today (Friday). Rep assured me it would be sent via ETF and did not happen. This cost me thousands of dollars. Once they have you - they really don't care - BEWARE.
Had a bad start with agent named Sean. He had a very condescending attitude. However after Tanner ** took over the ball got rolling. There have been a few glitches along the way such as my phone number was incorrectly entered in profile which caused major delay in the appraisal process. I have never experienced a mortgage loan that has taken this long. It has been very stressful. In fact I am still waiting for the final payoffs at this time a week after final closing date.
Extremely happy with the level of communication and upfront information given to me. Everything was explained in detail before it happened. Nicholas **, our contact, was extremely helpful. I would recommend AAG and Nicholas to my friends.
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.
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.