Finance of America Reverse
(844) 336-1893
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Finance of America Reverse

(844) 336-1893
toll free
Call now for more information

Consumer Reviews and Complaints

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George,

Thank you for leaving a review with Consumer Affairs. We are so happy to hear that your experience with us was very easy and upfront. Thank you for working with Finance of America Reverse, if you have any questions please contact us.

- FAR

Original review: May 25, 2017

I'm 78 years old. I had a wife to attend to and Finance of America Reverse were very easy to deal with and honest. I struggled for years and I got my credit land where I could do it. The loan officer was nice and he was on top of the job. During the process, he would call and stay in touch. That impressed me and everything has turned out good.

5 people found this review helpful

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James,

Thank you for leaving a review with Consumer Affairs. It is great to hear that you had a successful experience and that you are very please with the outcome. We appreciate your choice to work with Finance of America Reverse.

- FAR

Original review: May 24, 2017

I first read about the agent I dealt with, who I thought was in Tuscaloosa, Alabama and that's why I contacted her. I had her phone number and her work number and I had day-by-day contact with her. But later I learned that she was in California. Of course I lived 36 years in California, so I learned a lot about the program there. And then later on, I dealt with a lady in New York as well. It's a finance institution that handled the thing. Both ladies were very cordial and helpful. And then I went through the whole procedure to learn what mortgage it was and how it would affect me, and I decided to go ahead and do it.

I wanted to get some assistance because my total income was my social security benefit. But the rates are a little bit higher than I wanted, but the interest rates on paying back is like 6%. Of course, that's above most interest rates today in my position anyway. Then they told me a couple of times that I was gonna close, and then something else that was overlooked would come up, and I'd have to get another guy to come out to get me to sign stuff. But I've completed it all and was successful in getting the fund that I needed. I'm pleased with it.

3 people found this review helpful

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Nora,

Thank you for taking the time to leave a review with Consumer Affairs. It is wonderful to hear that you had such a great experience working with Andrew. We are so happy that he was able to answer all of your questions and walk you through the process. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: May 11, 2017

Andrew explained all my options. He was very easy to talk to and answered all of my questions in language I could understand without overwhelming me. I was not sure if this was the right decision for me or not. He listened to me until I talked through it and came to my own decision that reverse mortgage was the right choice for me. Without Andrew I know this process would not have been so easy... I would have come out on the other side questioning myself. So I thank Andrew ** for all his help and dedication in making me feel I was his only client. I also want to mention, if I had a question he wasn't sure of he would ask until he found out the correct answer. I would not have gone with this company had it not been for Andrew. I had spoke to a few other Reverse mortgage companies but chose Finance of America Reverse… because I felt so comfortable with Andrew right off the bat.

4 people found this review helpful

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Harold,

Thank you for taking the time to leave a review on Consumer Affairs. It is great to hear that you had a good experience with the representatives that you have talked with and we hope it continues. Thank you for choosing Finance of America Reverse.

- FAR

Original review: May 6, 2017

My wife has cancer and I need the money to pay some doctor bill so I used Finance of America Reverse. The representatives have been real nice and courteous if I have talked to them.

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Social Security doesn't go anywhere and I was continually going behind and so I started looking into reverse mortgages. I started with another company but Finance of America jumped in there and helped me so much more than the other people were doing. They answered all of our questions, sent us copies of whatever they were doing and walked us through the process. It was during the winter time and they worked on it for three months before we had it done. It was their office in San Diego that contacted me. and they didn’t let grass grow under their feet. They were Johnny on the spot and they helped us every way they could and I really appreciated them. Overall, our experience has been great.

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Patricia,

Thank you for taking the time to leave a review with Consumer Affairs and sharing your kind words about our service. We are so happy that we were able to answer all of your questions and help you through the reverse mortgage process. Don't hesitate to reach out to your loan officer or any member of the Finance of America Reverse team if you have any questions or concerns about your reverse mortgage. Thank you for allowing us the opportunity to serve you and for your recommendation.

- FAR

Original review: July 15, 2017

Finance of America were fantastic. I am very pleased with the way everything turned out. I had checked out five other companies also but Finance of America kept calling me to see if I was still interested and I kept putting it off while I was looking through these others. And then finally, I said "That's it" when they called again. We then started with everything. And if it wasn't for them, there were things that I needed to have done that was supposed to be done after my mom had passed was never done by the lawyer. And if I had tried to sell this house, I wouldn't have been able to.

I'm by myself. I don't have anything but my social security. And so, what I've done is I don't get everything. I don't take so much every month. Finance of America takes care of my taxes for me and my home insurance goes through them. I chose them because when I got all this stuff and I was reading it, I could see the difference in what they were saying in their paperwork rather than these others that didn't make any sense to me.

The loan officer was wonderful. He was so good to me, asks me if I have any question and even gave me his personal cell number to call him. They were really fantastic. If it wasn't for them helping me, being honest and letting me know that if I wanted to pay some money back, say if I won the lottery, I could. I don't have to but I can. They just went step-by-step with me. There was one here in town who sent me the paperwork, but never calls me back. And I'm like, "Well, he's supposed to do a reverse mortgage, now you send the paperwork out, you need to follow up." He never followed up once with me. So his paper went out in the trash.

It comforts me that if something happens to me, Patty, my goddaughter and to whom this house will go, will be given one year to decide what she wants to do, whether she wants to keep it or not. Most places will give you one month. And if she's 62, she would be able to do a reverse mortgage on the money that I have taken out. I was also told a lot of times it went with mortgages, they sell them to somebody else. Finance of America doesn't. Ten years down the line, if I have a question I can call them and they could pull up my file. My paperwork is still there 20 years down the line. My paperwork is still with them and they will not sell it. I've been so happy with them and I would recommend them wholeheartedly. They were the best I could ever have asked for.

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Suzanne,

Thank you for leaving a review on Consumer Affairs. We are happy to hear that your entire experience was pleasant and that Toby was able to be Johnny-on-the-spot with everything you needed from answering your questions to guiding you through the reverse mortgage process. Thank you for allowing us the opportunity to serve you and your recommendation of our services.

- FAR

Original review: July 15, 2017

I had debts that I wanted to pay off and I needed to paint my house. I heard a couple of my friends had a reverse mortgage and I liked what I heard even though I was a nervous wreck about it for some reason. According to the Better Business Bureau, Finance of America Reverse was one of the top five. When I called them, I immediately felt relaxed and comfortable with Toby, the young man who helped me. He answered my questions and he was very careful to try and address all issues that I was concerned about. I also talked to four others and I felt very comfortable with the company over the others.

I was surprised he advised against taking the whole amount that you could have for the first year. He said, "Of course, it's up to you. But why would you want to do that?" A couple of other companies were pushing and talking about the full amount for the first year. So, I felt very comfortable that I was being guided properly. From start to finish, they were Johnny-on-the-spot filling me in what to expect which is important to know and in calming my brain. I expressed that I was a nervous wreck about it and he said it was rightly so since this was a big step. They're professional from A to Z and they met the demand. I would definitely recommend them.

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Frederick,

Thank you for taking the time to leave a review with Consumer Affairs. We are pleased to hear that your loan officer was able to answer all of your questions around the reverse mortgage process. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: July 14, 2017

We had $30,000 in back-property-taxes, so we had to do a reverse mortgage. Also, my 95-year-old mother lived here her whole life and she wants to do everything possible to die in this house. Finance of America Reverse got a lot of good reviews and they seemed to be the best choice. It was a little tough along the way cause of a lot of things to figure out and understand. But, the loan officer walked me through most of it. Also, I've had a few thousand questions and he answered all of them for me and explained the things that I didn't understand. There were a few hiccups but I expected that.

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Vicki,

Thank you for leaving a review with Consumer Affairs. We are happy to hear that your loan officer was able to help you through the reverse mortgage process. Collecting all of the documentation is no easy task sometimes but allows all parties to be safe in the transaction. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: July 13, 2017

My Reverse Mortgage closed yesterday after 13 months of processing. FAR was always right on top of everything and had to assist me getting current documentation and information from my homeowner's association. If you really want a Reverse Mortgage make sure in advance that your homeowner's association has current and accurate documentation that FHA/HUD needs to process and approve your application.

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Marsha,

Thank you for leaving a review with Consumer Affairs. We are pleased to hear that we have been able to make an impact in your mother's life with a reverse mortgage. We appreciate the opportunity to serve you and your family.

- FAR

Original review: July 13, 2017

My mother was running out of money and she needed care, and the reverse mortgage was the only option. Then my brother set it up and we ended up with Finance of America Reverse. It really made a huge difference in my mother's life. The loan officer was a real nice young lady. She’s very helpful, friendly, and we really enjoyed her. We've done the reverse mortgage three times now. It was easy overall.

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Edward,

Thank you for leaving a review with Consumer Affairs. We are happy to hear that you were able to serve you through our reverse mortgage process.

- FAR

Original review: July 13, 2017

I was with another lender before. And when I wanted to increase my reverse mortgage amount, they referred me to Finance of America Reverse. I went back and forth for a long time dealing with the loan officer because it was a super jumbo loan. But I am satisfied with the guidance and service they gave to me.

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David,

Thank you for taking the time to leave a review with Consumer Affairs and sharing your story. It sounds like you and Julie hit it off and she was able to make the process easy for you. We are pleased that you chose to work with Finance of America Reverse and we appreciate your recommendation of our services and of your loan officer.

- FAR

Original review: July 12, 2017

I'm disabled and on a fixed income, and I couldn't afford to keep paying the mortgage and the bills. This is the second time I've gotten a reverse mortgage and this way, I'm able to live. Initially, I filled up something online and the next thing I knew, the Finance of America rep Julie called me. She’s a wonderful person with a great personality. She was nice and friendly and she told me what I needed to do without overstepping her boundaries. Before that, I had been trying to apply for a VA loan and people called me telling me what they could do for me. I spent almost $2,000 of money I didn’t have to get appraisals done and then all of a sudden they left me hanging. But I never encountered that with Finance of America Reverse. Julie was in touch with me just about everyday. She’d even call me on her way home to check and make sure I was okay. She was one of the best I've ever met over the telephone.

Anytime something started going awry, Julie was there. I was having a problem getting a mortgage counselor and at first, I told her she probably didn't have time but she said, “I work for you. I got time for it.” On top of that, she was from Philadelphia and she was even calling long distance. She spent two hours with me going over the sheet she sent me and we found a mortgage company that would do it until the reverse mortgage went through. She could have gotten me one where I got several thousand dollars of money, but she didn’t do that. She applied me for a mortgage that's gonna pay my taxes and my insurance. I don’t have to worry about that anymore and that’s the best thing she's ever done for me.

I don’t want to be a burden to my children and this way I'm not. When I didn't have the $1400 a month from Finance of America, I had a $600 mortgage payment and a $200 bill every month. I also had to have some type of entertainment and my cable and my computer was $150 a month. That doesn't leave much for anything else. I couldn’t even afford to have my vehicle fixed, buy gas or leave home. Since I took the reverse mortgage, I've got my vehicle going. It's in good shape now and I'm able to go see my kids.

Overall I can't praise Julie and Finance of America Reverse enough. I couldn’t believe how she took my financial situation and turned it around so I'll never be a burden. I know she had other customers and I don’t know how she did it, but she is good at what she does. And Finance of America was just so wonderful. Plus, if I ever want to pay it off so I can own a home tax-free, all I gotta do is call them up and start making payments. This is one of the best things to ever be put out there. I'd recommend Finance of America Reverse to anybody and I would advise everybody over 62 years old to go this route.

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Barbara,

Thank you for leaving a review with Consumer Affairs and sharing your story. We are so happy that our loan officers were able to talk with you about your needs and how a reverse mortgage can help. We know that a reverse mortgage is not for everyone and that is why we don't try to push it on people - just identify each persons needs and help them do what is best for them. It is great that you and Olivia are keeping in contact and have built a relationship. Feel free to reach out to her if you have any questions or any other member of the Finance of America Reverse team. Thank you for allowing us the opportunity to serve you.

- FAR

Original review: July 11, 2017

My money was getting a little lower. And I like to be completely independent. And I try to get all of my eggs in one basket. So, of course I don't know what the future holds, but I decided to get a reverse mortgage so that I can plan as well as I can to stay independent. I had a very good experience with Finance of America Reverse. I couldn't have asked for anybody to be more helpful. Their attitude is tremendous. I had talked to their rep prior to June of last year. And I was still turning it over in my head but I was very impressed with the couple of conversations we had. And then I just laid it down for a while. I also talked to some other companies but I was not nearly as impressed as what I was with the Finance of America rep.

I also spoke with one gentleman from another company two to three times and he was a little pushy. But finally, one day, he said, "Now, just be honest with me. Are you going to do this or not?" I said, "I'll tell you one thing, I'm probably about 95% sure that I'm going to do it but I'm a 100% sure you're not going to do it for me." And that was the last conversation we had.

But with Finance of America, I like that they're not pushy. Their rep answered my questions in a way like we were sitting at a table just having a conversation. It's very relaxed but also you knew that you could go to the bank pretty much with what he was telling you. From the very beginning, I just felt very comfortable with him. And when I was ready to do it, I found that he had been promoted and there was a young lady that had taken his place. And that gave me a little concern. But after talking with her two or three times, I felt like my concerns were totally unfounded.

I've sang their praises and everything. Olivia, the girl that took the first rep's position, we laughed a lot on the phone and she said, "I don't think you're 78 years old." And I said, "Well, if you could see me, you would." And she said, "But you got such a good sense of humor." And I said, "I'm going to live 'till I die." But anyhow, she said, "Please let's keep in touch. It doesn't have to be on a business basis but I just want to know that everything is fine with you." And I've gotten two personal cards from her. One I've got first part of this week. Just touching base and telling me how much she had enjoyed our conversations and she thinks about me often.

So I'm completely satisfied. I think entering into a reverse mortgage was the best thing I could have done. I'm not all that easy to please, but I would recommend Finance of America Reverse to anybody. Any doubts that I might have been entertaining, they get away with those just almost immediately with the answers that they would give me for questions. That comfort I've felt was just a pleasurable experience. At the end of everything, I knew I had made the right decision.

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Michael,

Thank you for leaving a review on Consumer Affairs. It is great to hear your story and we're so happy that Jamie was able to walk you through the reverse mortgage process and be available whenever you had questions. We are happy that you are satisfied with your service from Finance of America Reverse.

- FAR

Original review: July 11, 2017

I live by myself and I'm retired from work. I need a little bit of solution for my financial situation so I did a little research and started with one of the more prominent companies but I really wasn't getting any more from them. I started looking into Reverse Finance of America and the lady, Jamie, I talked to was excellent and very friendly. She took fantastic care of me and my situation that I was trying to get the reverse loan.

Jamie was knowledgeable and answered every single question I had and sometimes, two or three times over. She would answer immediately or just as soon as she could find the answer. She was extraordinary in the fact that she answered my phone calls even when she was off. She was trying to help me with all she could do and she did an excellent job and very professional. She was very astute, ready to go and wasn't messing around. I talked to Jamie's supervisor one day and told her how good a job Jamie was doing.

Her guidance in helping make a decision with a reverse mortgage was wonderful. I've lived 36 years in my house and I wanted to make sure everything would be okay with me, first of all, financially in doing this. I wanted all the details, so I could make a decision with some type of knowledge and it worked. I felt really good about doing this and still feeling better that I did it. Overall experience was exceptional. I am totally and completely happy with the reverse mortgage with Jamie, who helped me through this entire procedure.

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Rose,

Thank you for leaving a review with Consumer Affairs. It is great to hear that Ernie was professional and able to answer all of your questions in an upfront and knowledgeable manner. We are happy that everything has gone smoothly and that we were able to do everything to make sure you have a great experience.

- FAR

Original review: July 10, 2017

I did a lot of research on the internet and Finance of America Reverse was in the top 5 among the companies I Googled. After speaking to different people and making my initial phone call with Finance of America’s rep Ernie, I decided to go with them. Ernie was fantastic, upfront, very professional and knowledgeable. He was truthful and I connected with him.

Before we made the reverse mortgage decision, we had to set up a class where we had to speak to someone who’s not connected with Finance of America. Ernie gave me the names of some places where I could call and speak to different people to set up for this class to make sure that we found out exactly what was involved in a reverse mortgage and if it was right for us. Afterwards, I got in touch with Ernie. He didn’t try to do a salesman pitch on me. I did more of the talking than he did. He allowed me to make my own decision and he did not try to push something on me. After the whole process was summarized, I know I made the right choice. He was always there when I called. Also, if he didn’t know the answers to the questions I had, he would get back with me in a few minutes and give me answers.

Sometimes I ran into problems, but Ernie always had the answers. Finance of America has the answers ready in case they're needed. When the bank had a problem with the money being wired, I called Finance of America. Because Ernie was on vacation, his supervisor spoke to me. They were very prompt and they did what they needed to do to make sure that the bank did the procedure. Within less than an hour, my problem was solved. Finance of America was one of the easiest ventures I've had in my life. It was also one of the most prompt procedures that I've ever had with different things that I've had to deal with.

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Wilma,

Thank you for leaving a review with Consumer Affairs. We appreciate you choosing to work with Finance of America Reverse and are very happy that your loan officer was able to answer any questions and help you through the reverse mortgage process. It sounds like you were prepared and we're pleased that we were able to serve you and earn your recommendation.

- FAR

Original review: July 9, 2017

We went through several companies to see what they had to offer and we liked the reverse mortgage offer that was given us. We interviewed five companies and we have some knowledge in finance. I mainly wanted to hear what the representatives had to say because I work in that field. The loan offer, Robert of Finance of America Reverse, assured me in the end that I would be happy. He was very professional and knowledgeable. We had the counseling too. I'm very pleased with my decision to go with a reverse mortgage and I called Robert last month to tell him that. We can breathe now.

I read about how companies took 8 weeks or months before they gave a customer a decision but ours was completed in three weeks. It was very quick. Finance of America Reverse provided the service for everything that we were told could be done and I recommend them to anyone else that was looking for a reverse mortgage. The key thing on that is to have all your paperwork ready in advance and things should go swiftly.

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Joseph,

Thank you for leaving a review on Consumer Affairs. It is great to hear that you found our service helpful and professional and are very pleased with the outcome. If you have any questions about your reverse mortgage please reach out to your loan officer or a member of the Finance of America Reverse team.

- FAR

Original review: July 9, 2017

I checked the options and looked into one other company and the interest rate was more favorable from Finance of America Reverse. The guidance I received was helpful and the loan officer was very responsive. She kept in touch and was able to answer my questions. It was a very professional experience and I was very pleased. Finance of America Reverse is a good option and a very fulfilling and pleasant experience.

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Janet,

Thank you for taking the time to leave a review with Consumer Affairs. It sounds like you and Julie hit off immediately. We are so happy to hear that she was so helpful through the whole reverse mortgage process. If you ever have any questions about your reverse mortgage, don't hesitate to reach back out to Julie and the Finance of America Reverse team.

- FAR

Original review: July 8, 2017

We do not have children and no one to leave the house to. So we decided that we would take care of our retirement plan ourselves through a reverse mortgage and chose Finance of America Reverse because of their rates. Julie, the loan officer, was one peach and adorable. She steered me in the right direction. A lot of the times when I was thinking about doing something, she would say “No. You don’t want to do that and this is why.” It was excellent and she knows it all. She was right on top of things, telling me what's best for me. She was the best help ever. If you want the best service, call Julie.

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After we signed the documents, we waited and had to call the county to find out if Finance of America Reverse paid them off. Finance of America Reverse never informed us about anything. The only hint that we got is that they deposited the $2,000 in my checking account. There was no paperwork or follow up at all. It’s like we signed off on the mortgage and then they dropped the ball. They just disappeared and we’ve got a whole bunch of equity that we’re supposed to be collecting interest on that we didn’t use. Not only that, they lied to us on the terms of the loan with a $6,000 difference. For the second top-rated company, I’m really disappointed and I don’t know what to do about it and we’ve got absolutely nothing from them.

They're frauds and liars, and they're really sick. They told us they were going to withhold $12,000 set aside for tax and insurance. In reality, they took out $13,683.70. Then they sold their company to Celink which we never heard of before and yet they’re the ones sending us statements. We got no idea what they are doing because they didn’t stick to the terms. They were supposed to maintain our mortgage and guaranteed us that they would always hold the papers but then they turned around and sold the whole company.

2 people found this review helpful

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Ronnie,

Thank you for leaving a review with Consumer Affairs. We appreciate your kind words regarding our service and your representative from Finance of America Reverse. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: July 6, 2017

The representative from Finance of America Reverse were professional and knowledgeable. I had a bunch of questions and they answered. They were also very cordial and were strongly service oriented.

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Jack,

Thank you for taking the time to leave a review with Consumer Affairs and sharing your reverse mortgage story with us. It can be a very long process because of the safety rules and guidelines in place to make sure each party is protected. We are so happy to hear that your loan officer was able to develop a relationship with you and guide you through the reverse mortgage process without any major roadblocks. Thank you for choosing to work with Finance of America Reverse and your recommendation or our services.

- FAR

Original review: July 5, 2017

Being a senior, I wanted to try to get myself financially able to continue on with my life. I went online and applied for different reverse mortgage information. Somehow I got connected to one of the website advertisements to Finance of America Reverse. They got in line and I got in line with them. Their loan officer was very professional. She did a good job and didn’t prod me. It was a process because I wasn’t knowledgeable enough about reverse mortgage.

We fought through the discomfort into the process that they had to go through dealing with since the day she is involved. She and I became more or less connected in a professional friendship way. I had my own personal concerns and then after I get caught up in a situation of whether I want to go, I’ve got time and energy invested so I have got to try to make it work and she and I have got to try to work together. She also kept me informed and I did the same thing with her as I go through the process.

Going through the training process helped. Though I've got the loan and it's working for me, I'm not completely satisfied that it was the best investment for me. With the overall FHA process, they low-balled me on the value of my house. It put me in a situation where I was about ready to turn the reverse mortgage off and go ahead and sell my house outright. I made up my mind that I would be willing to stay at this home site, take their loan value, and go with it. I accepted the policies and the terms of what they had to offer and it’s a third party deal with FHA and the lender involved. It worked out.

Finance of America Reverse gave me guidance to the extent that they could. Once I was qualified and once they felt I was a worthy candidate as far as the lending process is concerned, they wanted to accommodate me to the extent that they process a loan. They did a good job and I would recommend them. I was happy and they were a good lender. The process was not easy, but I didn’t have any negative things happen.

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Marylou,

Thank you for taking the time to leave a review on Consumer Affairs. Pleased to hear that your loan officer was able to provide you with the information and service that you needed through the process. If you ever have any questions on your reverse mortgage or would like to speak with a licensed reverse mortgage professional, don't hesitate to call.

- FAR

Original review: July 4, 2017

My husband and I didn't want to get a conventional mortgage at our age, we're in our 70's and 80's, and getting a reverse mortgage just seemed like the thing to do. We were afraid we might have a problem trying to sell our house, as we've had it up for sale once and it didn't sell. Finance of America was the first place I went to and I was pleased with the information and the service that they gave me. The loan officer was very personable and knowledgeable, and he made me feel comfortable. If there's anything I would like a little better, it would be that they would send us an update a little more often, as it seems like it's only every couple of months that we get anything. But other than that, the guidance I received from them was exactly what I was looking for. It is a way to get free and clear on everything and not be a burden to our kids.

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Mary,

Thank you for taking the time to leave a review on Consumer Affairs and expressing your situation. We are so sorry to hear that your experience was less than satisfactory. Someone will be in contact with you shortly to review your situation and get a better understanding of what happened and what we can do to correct it. Look for a call from us in the near future.

- FAR

Original review: July 3, 2017

My experience with Finance of America was extremely frustrating. Their organization is fragmented. After the loan officer has taken your application, sent it in and told you it's been approved, he turns it over then has no more answers for you at all. He doesn't even know what department sets things up, so I don't know who to call and talk to for questions and answers. The next person you talk to wouldn't even know who your loan officer was. The communication is poor. Many of them work from home, so they'll give you their home phone number, but they're not working from home, they don't answer their phone or it goes to voicemail, so it's difficult to get information. They're all in different cities and don't know each other, but there's no excuse for that these days as there's video conferencing and teleconferencing.

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Finance of America Reverse

Susan,

Thank you for leaving a review on Consumer Affairs and sharing your reverse mortgage story with us. We're happy that Mark was able to assist you through the reverse mortgage and keep you 110% informed on everything. Thank you for allowing Finance of America Reverse the opportunity to serve you.

- FAR

Original review: July 3, 2017

My mother had bought this condo but shortly after, she was diagnosed with the beginning stages of Alzheimer’s. So, I sold my place and moved in with her. Unfortunately, she passed away in 2011 and left me the condo. I’m on disability and with that, I can do everything but pay my taxes. And so I decided to go with the reverse mortgage. I put in some information for LendingTree and Mark was the first one to call me. He's the loan officer from Finance of America and he was great. He gave 110% and kept me informed on everything. I wasn’t left in the dark by anything.

Previously, AIG also got to me and they told me I qualified and I just had to get on the condo board to get recertified for FHA. So I went on to the condo board and kept at them until we were recertified. But then, in October, they told me that I was no longer eligible and that the rules had changed. That was weird, but then I had Finance of America Reverse and I had a great experience with them. They got me in touch with the people I needed for counseling to help me make the best decision for me. And it was also great how they took care of my taxes, my property, and my homeowner’s insurance. Then I paid off my credit cards and now I really don’t have to dip into the money ‘cause I can live off of what I can get from disability.

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Nelson,

Thank you for leaving a review on Consumer Affairs. We are happy to hear that your loan officer was personable and on top of things through the reverse mortgage and that the counseling was a valuable experience for you. If you ever have any questions about your reverse mortgage, don't hesitate to contact your loan officer with them.

- FAR

Original review: July 2, 2017

It was taking longer for the company I started to get off the ground and get cash flow, and I needed some income. I couldn't get refinancing and I didn't want to take a chance. A reverse mortgage seemed to be the best option and it would eliminate expenditures like the mortgage payment. I went with Finance of America Reverse and their loan officer was very personable and stayed right on top of the process. The guidance I received was very good. The people who were even more helpful and I was pleased with were those who did the counseling. I can still call them if I have any questions.

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Pete,

Thank you for leaving a review on Consumer Affairs. It is great to hear that Robert was very good and that the reverse mortgage process went smoothly. We appreciate the opportunity to serve you.

- FAR

Original review: July 2, 2017

Finance of America came up for us and our reverse loan officer, Robert, was very good. Also, the guidance I've received was fine and everything went smooth.

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Barbara,

Thank you for leaving a review with Consumer Affairs. We are so happy to hear that you had such a great experience with your loan officer and that you are pleased with your decision to go through the reverse mortgage process. Thank you choosing Finance of America Reverse.

- FAR

Original review: July 1, 2017

My husband and I liked the idea of not having a monthly payment with a reverse mortgage, then we shopped around and Finance of America Reverse seemed to be the best. Olivia was great and easy to work with. She kept us informed on what was going on. Applying for a reverse mortgage is a little different than applying for a regular one. They wanted to make sure we understood what a reverse mortgage is and we had to go through a little course. It was fine and we're pleased with our decision to do it. We're very happy with Finance of America Reverse.

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Uwe,

Thank you for taking the time to leave a review on Consumer Affairs. We are sorry about your experience and are going to have someone contact you for further clarification on any issue that you have had. We appreciate your patience in this situation.

- FAR

Original review: June 30, 2017

I still work and my son was indirectly telling me that I'm spending too much money. When I left my parents, I paid for their funeral and so I don’t need to leave so much behind for him and decided to do a reverse mortgage. I took a little bit of money out and I’m gonna take more ‘cause I also have an apartment building that needed to be renovated again. I’m also using the money for traveling and all sorts of things. Then if my son wanted to eventually have the mortgage back, he has to pay that once he has the house so there's no big deal.

At the time, Finance of America Reverse sounded good. The gentleman who I spoke with originally seemed very knowledgeable and I stuck with him. But later on, he forgot things. He was embarrassed himself at times because it was just like, “That’s not what you said. Why is this? Why is that?” But whatever he promised eventually came true, however, he's not involved anymore. The other people who took over were not as knowledgeable.

I called them up the last time and told them that under the agreement, they would be paying taxes for my house. The lady that I spoke with said that they'll reimburse and that I have to pay it first. It’s my credit, so I took care of it and paid it myself. It was only a couple of weeks later that I got a check back from City Hall and the people there told me that my taxes were already paid by this mortgage company. So I called the mortgage company and asked. It's like one says this and the other one says that and it took them quite some time to tell me. I told them that I don’t want to fall into bad credit because they didn’t pay the interest on time and all the taxes. So, everything was a little bit of a hassle this time. The company surely needed some work. Then I expect the salesperson to follow through until everything is done into details.

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Bob,

Thank you for leaving a review on Consumer Affairs and sharing your reverse mortgage story with us. Glad to hear that everything went according to plan and that your loan officer made such a positive impact on your experience. If you ever have any questions about your reverse mortgage, give us a call. We appreciate your kind words and recommendation of our service to others.

- FAR

Original review: June 29, 2017

I had seen the ads on television and I filled out a reverse mortgage quiz online. Then, these people started calling me. Finance of America Reverse wasn't the only one that called me but they seemed to be the one that was most interested in helping me. I was just not sure how much the appraisal was going to be on my house but I did it and I hoped it was enough to pay off our mortgage so I don't have to make house payments anymore. It turned out it was. I only had 10 years left to go on a 15-year note but I was making a big payment every month. Now, it's fine. I'm happy with it.

The lady that worked with me stayed in touch with me and kept me informed of what was going on. She was upfront about everything and was honest with me. I didn't feel like I was being conned or lied to or anything. Like the appraisal thing, she said how much I have to appraise for in order for that to pay off my house. She told me that if it doesn't appraise for that, I could add some money of my own too and then get out from under that mortgage payment. If it appraises for more than that, then I get that money back. She said that we don't know until they appraise it and she was right. I put up the $250 and the guy came out and appraised it. It took about a week before I heard something back. But, she called me as soon as they got information and said, "Good news! You got it."

What was really good too was I had to pay for somebody to have a counseling session with me. It took about 45 minutes on the phone. That tells you a lot of the upfront stuff that you know that has to work on this thing. The counseling session was well worth it. Finance of America Reverse's rep said that she'll give me a list and they will charge about $150. I asked what if they charge more but she said that they'll negotiate with them. The first place I called to set up the counseling charged $175. The second place I called was in Tulsa, Oklahoma and the charged me $125. So, she saved me $50 because she told me the price upfront. Otherwise, I would have just went with $175.

All these other people at some of these other places would contact me and they said, "We're going to do this and this, and this." But, they would never do anything. Everything the rep said happened just like she said it would. She even gave me her phone number and told me to call her if I have any problem. One time, something came up and I called her and she just sat there and explained it to me. I'm really appreciative of them. It's the smartest thing I ever did. I hope anybody I recommended it too would also be treated as well as I was.

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William,

Thank you for leaving a review with Consumer Affairs. We are happy that your loan officer was able to guide you through the reverse mortgage process with ease. It is great to hear that you are pleased with our service. Please reach out with any questions that may arise with your reverse mortgage.

- FAR

Original review: June 28, 2017

Having a reverse mortgage seemed like something I should do and I needed to lower my monthly cash-flow so I went with Finance of America Reverse. The loan officer I dealt with was good and he worked hard. He was very patient and tenacious at some point. I had adequate guidance in discussing my options. So far, so good.

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David,

Thank you for leaving a review on Consumer Affairs. We are so happy that you and William hit it off so well. Everyone at FAR is trained and go through certifications to become professionals in the reverse mortgage field and all aspects that go with it. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: June 27, 2017

The process took approx 3 to 4 weeks to complete. I spoke with William sometimes several times a day; either he would call me or I could call him, but he was always available. When it came to signing time, I found an agent that I could work with and William was able to request that agent whenever necessary. Working with a Realtor is never easy for me but I found that working with William was as nontraumatic as it could be. I never had any qualms on the information I received from him or the answers I received, in other words I trusted him and he never lied or misrepresented any question I put to him. Even after having completing the process, he has called to check up on me and see if I had any problems. If you are looking for someone that will follow up with you, I believe this representative will fill the bill.

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Betty Jo,

Thank you for taking the time to leave a review and share your story on Consumer Affairs. We are pleased to hear that you chose to work with Finance of America Reverse for a second time and that everything went smoothly. We appreciate your time and recommendation of our services.

- FAR

Original review: June 27, 2017

My ex-husband and I owned our land together after the divorce. The house is on one part and his big shop was on the other. But, the time came when he wanted to build a house in the back or move in his house and the only way my husband and I could buy him out was to get a reverse mortgage. And later on, my husband died so I've been by myself, and then I got cancer. So I decided to refinance the house so I can pay the medical bills.

Initially, I talked to some people and then Finance of America Reverse called and asked me if I was aware that someone was running a credit check on me. I told her that it's probably because I was gonna refinance my house. Then she asked if I had considered using them again. At that point, I asked her who she was 'cause I thought it was the same people I had talked to. Then she said, "We're the ones that have your reverse mortgage now." It had actually never even crossed my mind to call them, but in the end, I went with them.

The loan officer was absolutely wonderful. She explained every detail to me and led me through every single step of the way. Then people started calling, trying to scare me from doing it with Finance of America Reverse. So I called her and she told me what they were telling me was not correct. She then gave me her personal cell phone number and told me to call her anytime I have a question, even if it's on the weekend or at night. She even checked on me when I was sick and that kind of service is completely rare.

The experience has been extremely helpful. I was worried about having enough money to pay my taxes and my insurance and still have some kind of life. I was in fine shape until I got sick and I’m a retired teacher but I’m too old to go back to school and teach. I was extremely stressed out and they just relieved it all. I highly recommend them. Several of my friends have been considering this and I've advised them to call Finance of America Reverse.

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Anthony,

Thank you for taking the time to leave a review on Consumer Affairs. We are happy that a reverse mortgage is able to supplement your living expenses. Thank you for the opportunity to serve you and your recommendation of our services.

- FAR

Original review: June 26, 2017

Financially, I'm on the wall. There were five or six lawyers previously advertised on television. Now, there are like 20, so I'm not taking the kind of money I was taking before. So I've got to pull in my horns and applied for a reverse mortgage. The loan officer from Finance of America that I worked with was fine although I suggest they charge less interest and give more money. I've also recommended them to my brother.

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Bettejean,

Thank you for leaving a review with Consumer Affairs. We are happy that your loan officer was able to guide you and make the long process easier for you. we appreciate your choice to work with Finance of America Reverse and your recommendation of our services to a friend.

- FAR

Original review: June 25, 2017

I did a long-term process with Finance of America Reverse. It came to fruition at an early stage and I was quite pleased. It was long-term because there were many things that had to be done. I had to have the house inspected and they had to take pictures. Then I had to have repairs done and they had to come back and take more pictures. It was quite complicated but I can see their point. Their lovely sales representative made things a lot easier for me. He was cooperative and polite. He also understood that I was a neophyte in this situation and took the time to explain things to me and how they worked. I have deep respect for that man. I would definitely recommend Finance of America Reverse to a friend.

Finance of America Reverse Company Profile

Company Name:
Finance of America Reverse
Company Type:
Private
Year Founded:
2003
Formerly Named:
Urban Financial Group
Address:
8909 South Yale Avenue
City:
Tulsa
State/Province:
OK
Postal Code:
74137
Country:
United States
Phone:
(844) 336-1893
Website:
https://www.fareverse.com/mktg/consumer-affairs-v2/?utm_source=consumeraffairs&utm_medium=display