Finance of America Reverse
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Finance of America Reverse

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Consumer Reviews and Complaints

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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.

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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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Frank,

Thank you for taking the time to leave a review with Consumer Affairs. Happy to hear that we were part of your retirement plan. We appreciate your choice to work with Finance of America Reverse.

Original review: May 16, 2017

Due to my age, I chose a reverse mortgage as part of my retirement plan and I got the most information from Finance of America Reverse. They knew what they were talking about and I've had comfortable interactions with their loan officer.

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Kenneth,

Thank you for taking the time to leave a review on Consumer Affairs. We are so happy to hear that your loan officer was able to provide you with all the information you needed and walk you through the reverse mortgage process. Thank you for choosing to work with Finance of America Reverse and please, reach out if you ever have any questions or concerns.

- FAR

Original review: May 16, 2017

My experience with Finance of America Reverse was fine and I enjoyed it. My health isn't as good as it used to be. I was having to stop working before I was ready to and my mortgage was a little bit outstanding. I then decided to eliminate the mortgage so life would be a little easier. The representative that we were speaking with at Finance of America Reverse was bright and bubbly. We have talked to several different companies and we liked the way she presented herself and her company. We told her what our needs and concerns were. She jumped on them immediately and took care of everything as we requested.

They had told us what the processes were, where we needed to go, and who we needed to talk to. Also, they sent us to an outside counselor to get counseling. Once we're completed with the counselor, my wife called them back and they concluded the information. One of our basic concerns was my wife, who's been on the mortgage since we bought the house, wasn't allowed to be on the new mortgage deed because she's not 62. In any event something happened to me, her concern was that she's still gonna live in the house. Then, they talked her into it and we're well-satisfied with it. All in all, working with them was very delightful. They're very informative and as far as I'm concerned, they have my needs upfront.

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David,

Thank you for leaving a review with Consumer Affairs. We are happy to hear that you received excellent guidance and everything was straightforward. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: May 15, 2017

Saving $900 a month on the house using a reverse mortgage was a good deal. I didn't consider it for a while and when I was gonna work a little bit longer to get my equity up, Finance of America Reverse worked with me on a deal and so I was able to get a close on it. When they told me they were gonna do something, they did it and I appreciated that. The process was a grind, but I expected it to be. They gave excellent guidance and everything was above board and straightforward. They were good people and I enjoyed them.

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Robert,

Thank you for leaving a review on Consumer Affairs. It sounds like you had a great experience with your loan officer through the reverse mortgage process. We are happy that we had exceeded your expectations. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: May 15, 2017

Finance of America Reverse process went really well. Their loan officer was informative, nice and took care of things that we needed to do. He explained everything really well. He was also really pleasant and worked with us really good. The timeframe was reasonable. They had estimated about four or five months but we got it done in about three months which was really quick.

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Robert,

Thank you for leaving a review on Consumer Affairs. We are happy that you chose to work with Finance of America Reverse. It sounds like you had a seamless experience and that you and your loan officer got along great. We appreciate your choice to work with Finance of America Reverse and are so happy that you are pleased.

- FAR

Original review: May 14, 2017

Due to my financial situation at the time, I got a reverse mortgage as part of my retirement plan. And Finance of America Reverse were the best that everyone knew about. I got as much information from all of them as I could and at least one other company claimed to offer just as good or better reverse mortgage as Finance of America but they dropped the ball. They wouldn't respond to my inquiry and a month later, I made contact again but they were inconsistent.

Finance of America was consistent and did everything they promised to do. They were competent, professional and very helpful. They answered all my questions. And the person I worked with was very friendly, thoughtful and knowledgeable. He was very easy to work and he couldn't have been nicer. He's contacted me by phone or wrote me a thank you note. I couldn't have been more pleased with their expertise and their efficiency.

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Ken,

Thank you for leaving a review with Consumer Affairs. We are so sorry for the rocky start but happy to hear that everything got cleared up and you were able to use the equity from your home. We strive to always put our customers first and make sure that we can do everything in our power to help them.

- FAR

Original review: May 14, 2017

My experience with Finance of America has been pretty good though it started out a little on the rough side. They couldn't get their ducks in a row. I had another little house on my yard that I built for my dad in 1999. And the people who set it up and were supposed to record in on the tax thing didn't record it. And then they decided that because it was a completed house, they couldn't do the reverse mortgage. So, I went through that for a bit to convert it to a storage house. And then, they went back and forth with it.

There was also a problem with the people doing their appraisal. They came out and did the appraisal on the house, but they never returned it back in like they were supposed to. Then the man who was the head had a heart attack about the time they did their appraisal and they said nothing. And that whole thing took about eight months. The reverse mortgage wasn't something that I was quickly in need of at the time but I wanted to use the equity.

The other thing that had gotten into it was a loan application. I had helped my son-in-law and restructured a business loan for him and phoned everything. But I was not listed as the person who was responsible for the loan. We got that straight, but they couldn't get the numbers on the loan thing. They were telling me about one thing that didn't make sense to me. And when they finally narrowed it down, they had one loan number. It was another loan and they had that confused. My wife had cosigned for our daughter to buy their house through the same bank and the bank was the one given the wrong number.

Finally, I told them to forget it and we won't do it anymore. They came back and told me everything is under control and they can do it. And they did. They gave me all the money for the first year and I gave them $20,000 of it back because I didn't want it all in the first year. I'm getting older and I won't just spend all this money. Nevertheless, the people I worked with Finance of America were good and they were who I wanted to work with. They were the right company to deal with. I would recommend them. Everything they did was done with my interest. They were with me all the way on the reverse mortgage.

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James,

Thank you for leaving a review on Consumer Affairs. We are happy to hear that you were pleased with the speed and efficiency of our loan officer. Thank you for choosing Finance of America Reverse.

- FAR

Original review: May 13, 2017

There was somebody else I was doing reverse mortgage with that seemed to lag and took their time but Finance of America Reverse answered me quickly by getting back with me. They seemed to be interested so, I decided to go with them. I wanted to get money to do remodeling. The money I got wasn’t anywhere near enough, but I got what I got to try and help straighten up my finances.

But, I don’t understand that appraisal issue. It’s the little things that they pick like a tear in the screen. What does that have to do with the house? The house is only 70 years old so, I understand there’s gonna be some things. But I can’t understand that when he came in, he said I got issues with the foundation and I got termites. I don't have any of those. I still got this whole fireplace I’m tearing out because they built to it to add that on. I don’t want that there. I want it torn up and put back to where it originally was. I also want it open concept so, I had to take out some walls. But none of this was done when he came.

I got a sink that’s in my house that’s practically an antique and the drawer. I never found a drawer for that sink and they don’t even make them anymore. I don’t understand the people that are doing this appraisal. It was nothing majorly wrong with this house. It has good structure and foundation. I have people come in and inspect the foundation and it’s good and solid. It’s in good shape for how old the house is. It’s the little cosmetics stuff which, to me, is nitpicking and it makes it frustrating.

I had to paint this whole house on the inside before they'd approve the loan and I’m gonna have all these walls covered up. Why am I wasting $300 or $400 on paint and hours and hours of labor doing this? I don’t get it. It doesn’t change the value of the house. It doesn’t change anything. Also, there was a space outside under that porch that never had a door. It was a space that even if one goes in, that person can get out of it. It’s not like one can go in and get lost or trapped. It’s an instant space under a porch but I had to build a door and put on it. It doesn’t make sense and it's weird. It was frustrating. Why bring it up, just to have me do something with it?

There was also the sink upstairs that I had to take a look because the previous owners didn’t maintain the house, for one thing, and they didn’t use the water. I had to replace all the lines on that. I had taken it loose because it was leaking and the guy constantly picks the no running water. Nobody was living upstairs anyway but I was working on stuff. The balance of this loan is depending on these things.

I thought the thing was supposed to help you, but it’s like they’re throwing blocks in your way. I’ve been trying to get somebody to tell me why would they pick stuff like that but nobody seems to have any answers. It’s nothing you can look to give you answers as to how to deal with it or prepare for it. This is two different appraisers that pick the same thing and it was like there was nothing else they could find so, they picked on this hole under the sink that’s older than them.

There’s a lot of stuff that, if I couldn’t do myself, would be falling short because there's a lot of the things I’m doing there myself. The demolition, putting back up drywall and I got stuff in there that I have to do for the ceiling in order to finish out this appraisal. I was doing demolition, turning around my chimney and the plaster on the wall. It would seem as though I’m doing a remodel and I’m gonna get that fixed when I get the money to do that. I’m still stuck with a lot of the remodeling that I need to do because I didn’t get one-third of what I needed.

I have a $500,000 property that this person came in and appraised for less than two-thirds of the price of it. I only got one-third of that so, it’s like having a gold mine but you can’t access the gold in it. You can only walk around and kick over rock every now and then and that’s it. I’m sitting on $500,000 and I thought that I was gonna have at least a couple of hundred thousand but I can’t get for it $80,000 which is crazy. What am I gonna do with $80,000? That will help me barely pay bills. That doesn’t do anything to the house, where it will cost you $15,000 to do plumbing and maybe the same for electrical. I can't get the things that the house need and there are things I need to do that I can’t do.

They were the only ones that got something through. Then, they take $80,000 and tie it up to where I can’t get anything out of that whereas if I had gotten that, I could have had it up to where I could pay my own taxes. I don’t even think about paying taxes. I pay all my taxes but they’re taking that and setting that aside. They set aside money that I need. Maybe I should have sat down with a planner and I probably could have gotten a better negotiation out of this because I wanted to set aside two years of payment for all the utility which I couldn’t even get to do because I had nothing else to set aside after I had already done the things that I’d already planned to do. I didn’t have enough funds.

But other than that, because we had been trying to a get traditional loan, the house is paid for and we don’t owe any money on it. All we owe is taxes and the water bill. It was a help and I’m using it as a stepping stone. Also, I was looking at getting what I was gonna get, do what I needed and then maybe in seven to eight years, paying this money back. The way it is now, I’m a little bit better than even. I could do a little bit and I can save something on there which I couldn’t do at first. Now, I can save $1,000 a month. I’m looking at my payment options, paying it back and freeing up my house back up again to get this lien off of it. Finance of America Reverse has been fine and they came through while others failed. I’ve already recommended them and my sister checked all out.

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Karen,

Thank you for taking the time to leave a review on Consumer Affairs. We are so happy to hear that you and your grandma had such a great experience working with our loan officer. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: May 9, 2017

My grandma was living in her house and she didn't want to move. It really needed some work and the reverse mortgage was just a way for her to get work done without getting into loans that she could not afford to handle. The agent from Finance of America Reverse himself made us choose them. He was very helpful and answered a lot of questions that we had. We also did counseling and gave us a better understanding of how the reverse mortgage works. They got the loan closed quickly. I would definitely recommend them.

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Jerry,

Thank you for leaving a review with Consumer Affairs. We are pleased to hear that we were able to give you all the information and guidance that you think needed from your loan officer. We appreciate your recommendation and the opportunity to serve you.

- FAR

Original review: May 4, 2017

I'm a single man without children and I'm retired so I didn't see any chance for me paying out the mortgage on my house so I went with reverse mortgage. I did try three other companies and it seemed like they couldn't do it. In contrast, Patrick from Finance of America Reverse kept telling me that they could do it and they did. He said that he could get it done in 2016. I signed up in October and there were only three months left then. It was quick how they did it. Also, the guidance I received from them was very good and they had a very positive attitude. Whenever we got the house appraised, he was very positive about it and whatever the price, it was more than enough to have it done. I was having trouble with that before, the house was not appraising for enough. It's really a gamble. I would recommend Finance of America Reverse because they were the ones who got it done and it went real fast.

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Lynn,

Thank you for taking the time to leave a review with Consumer Affairs. We are happy to hear that we were able to answer all of your questions and provide you with the information you needed simply and effectively. Great to hear that it worked out perfectly, we appreciate your choice to work with Finance of America Reverse.

- FAR

Original review: May 2, 2017

Getting a reverse mortgage just seemed like the thing to do. The house isn't worth anything after I've gone, I don't have any heirs and the extra cash came in handy. Then I was just researching some of the companies and I got different things emailed then sent to me. Finance of America Reverse was the one I chose and they were very helpful. They were quick to send the information I needed. They explained everything very well and made most of the steps fairly easy. It was pretty straightforward. Most of it was done over the phone and through emails. So, that made it simple.

It's a long drawn out process although everything went pretty smoothly and I didn't have any problems with it. It's just one of those things that you have to be in a position like mine to make it worthwhile. I don't worry about where the house is going to after I die. I don't plan on moving so you don't have to worry about selling the house. Things like that you have to think of. It wouldn't be too cool to sell your house because then you'd have to pay the mortgage. If you were planning on moving, then it probably wouldn't be that great of an idea but considering where I'm at, it worked perfectly.

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Bob,

Thank you for taking the time to leave a review on Consumer Affairs. We are so pleased to hear that your experience was simple, easy and all together a smooth process.We appreciate your choice to work with Finance of America Reverse.

- FAR

Original review: April 27, 2017

Finance of America Reverse was well organized and they seemed to be on top of things. They explained everything to me over five different phone calls and they sounded like they knew what they were doing. They gave me all the options, and I had some other questions, and then I made the decision on my own. We worked those out and we were ready to go. It was a simple, easy and smooth process and if it's for you, that's the way to go.

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Mr. ** was very courteous and involved. My only complaint was with the appraisal process which caused us costs unexpected and detrimental to our financial condition when it was required that our crawlspace be cleaned out for the appraisal to be approved and completed. With a reverse mortgage, the minimum age for qualification is 62. A review of crawlspaces in the neighborhood that ALL use as storage. Even those younger and not having bad knees or backs had things there. This needs to be addressed up front.

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Robert ** was wonderful from the beginning and even when things looked bleak in getting my reverse mortgage, he stuck by me and never gave up. He was sensitive to my needs and sincere in his help. I will tell any friend that is interested in a Reverse Mortgage to give Robert a call. Thank you from the bottom of my heart. Without your help I would not have been able to stay in my home.

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Alan,

Thank you for taking the time to leave a review on Consumer Affairs. It is great to hear that you had such a good experience working with Teri for your reverse mortgage process. We are happy that you found our cost to be well below our competition. We appreciate your choice to work with Finance of America Reverse and your recommendation.

- FAR

Original review: April 12, 2017

Teri did a marvelous job in getting us our reverse mortgage. I would have given her 5 stars if we had gotten it at no cost. However she did do her very best to reduce our closing costs and I commend her for doing so. They were well below the competition. Teri was very astute and detail oriented and explained everything to us to our satisfaction. I would definitely recommend her to anyone interested in doing a reverse mortgage.

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Bill,

Thank you for leaving a review with Consumer Affairs. We are so happy to hear that you were pleased with your Reverse Mortgage Specialist during the reverse mortgage process. We appreciate your choice to work with Finance of America Reverse.

- FAR

Original review: April 3, 2017

We are very pleased with your company and representative William ** and the appraiser. William patiently walked us through a very complex unfamiliar product that many in my family had false preconceived ideas about. His approach was educational to give us the information to allow us to come to our own conclusion about whether or not the reverse mortgage was the best choice for our situation. We are also very pleased with the appraisal process. The appraiser did a thorough job finding comps that gave us an appraised value beyond our expectations. Thank you William and all who were involved in this important decision.

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We had a need for additional income and bought a reverse mortgage, but the people whom we bought our original reverse mortgage from sold their business to Finance of America. Then we decided that we wanted to do the refinancing with them. Our primary contact provided a lot of answers to some of the initial questions that I had. So it moved from the stage of us being curious whether we could accomplish some improvement in our situation because there's been increased appraised values for houses in our area. Also, we wanted to get up to the $625,000 maximum that reverse mortgages are written for and get the best interest rate possible and that arrangement.

However, as we got to closure on the refinancing, the agent had become pregnant and had gotten a promotion in the company. So, she was less available than she had been and did not respond to some of the questions that I wanted to have answered before the closure. But, it did seem to be completed satisfactorily. We bought the initial reverse mortgage from a company here in Austin and we could get across the table with them and do business face to face. But with Finance of America Reverse, it's a very different way of doing business and the people are not accustomed to that.

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Donald,

Thank you for leaving a review with Consumer Affairs. We will be contacting you to go over the details of your review and your mortgage to better understand what happened. We do appreciate your business and hope we can all find some clarity in the very near future.

Thank you for your consideration.

-FAR

Original review: March 29, 2017

It started out really good with Finance of America Reverse but I was misled on a couple of things. The guy who I was dealing with ended up leaving or getting fired and it left me hanging. And then somebody else took over for him but the numbers and everything were far different than what were told to me at first, not for the better. So I was thinking of having it investigated and calling in to let a professional know that I was very unsatisfied and if there was something I could do about it. And I'm still thinking about that but I've calmed down a little bit. I've been trying to put this out of my mind because it's a done deal. I'm three months into it already. But if I didn't have to go through with it and if I wasn't under a time limit about getting my loan closed, I would have dropped the whole thing. It was really not good. I probably ended up losing close to $18,000 and I really had no recourse.

We started out having plenty of time and then there was about a three-week span where I hardly heard from them at all. Then, the very week that my loan closed, they stopped and it really made me worry. Then, all of a sudden, I got a letter from someone saying my loan has been sold already and I'm not even with Finance of America anymore. Now, I have a company I don't know anything about or I've never heard of.

As far as the way FAR does business, I felt it was almost calculated. Once they have a commitment from you, then they can do whatever they want with you. They told me I'll have a certain amount to go with, to pay off my existing bills and how much will be leftover and that it will be stuck in a line of credit for me. What I found out later was the line of credit that they stuck my leftover money in is the company that has it now and they can take money out of it in the first year if they want to. So, it was almost predatory and it's very scary. I got a phone call from this new company and I told them I'm with Finance of America but they said they're my loan reverse mortgage carriers now. Then, I got a bunch of papers from them and the numbers are a little different again.

People that go through a reverse mortgage are usually at the end of their rope and they wanna save their property. With me, the property belonged to my father and me. I lost him a year ago and I couldn't afford to do the payments myself. My options weren't many so, I ended up having to do it this way. I didn't want a whole brand new mortgage because I really couldn't afford a $1,700 monthly payment right now. We had so much equity in the house and that was the big thing. And it was a negative experience too with the appraiser.

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Joanne,

Thank you for leaving a review with Consumer Affairs. It is great to hear that you and your son chose to work with Finance of America Reverse. We are happy to know that you found our service very helpful and are satisfied with the guidance you received through out the process. If you ever have any questions about your reverse mortgage, don't hesitate to reach back out. We appreciate your recommendation.

- FAR

Original review: March 28, 2017

My son takes care of a lot of my financial works. He was the one who decided to use Finance of America because he had looked into other companies and thought that this was the best opportunity for me. I found them very helpful. The only objection I had is that it was ongoing for months before we finally settled. It seemed to me that the company wasn't just one who was handling it. It was somebody in Philadelphia and somebody out west. It was a little confusing, but it worked out. I’m very satisfied with the guidance I've received. It was very thorough and a lot of required paperwork because the government requested it just for my benefit. I would recommend them.

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Michael,

Thank you for leaving a review with Consumer Affairs. We are happy to hear that your experience with Jamie was delightful and that she was there to answer all of your questions throughout the whole process. Thank you so much for the kind words and choosing to work with Finance of America Reverse.

- FAR

Original review: March 27, 2017

I recently had the delightful experience in conducting business with Jamie **, in obtaining a reverse mortgage loan on my house. I knew absolutely nothing about a reverse mortgage loan. Mrs. ** told me all what all was involved and did so with patient and professionalism. I asked her many questions about the process and each time she responded to me with intelligent answers and courtesy. Jamie always responded promptly to my phone calls and even gave me her personal cell phone number.

To say the least, I was always thankful for her fast response and her answering her cell phone. She was so professional and courteous all the time. She knows her job very well and is also very personable. I have very much respect and admiration for Jamie. I appreciated her so very much through this process. She was a God send to me. Finance of America Reverse should be proud that they have a real hard working professional lady on their team. She is awesome!

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Mary,

Thank you for taking the time to leave a review with Consumer Affairs. We are so happy that your Reverse Mortgage Specialist was able to help you through the reverse mortgage process to save your home. Thank you for choosing to work with Finance of America Reverse.

- FAR

Original review: March 26, 2017

Mr. Nigel ** help my husband and me when even the bank wouldn't even help us save our home. Mr. ** was there for us through it all and did everything possible for us to save our home. Thanks a lot to Reverse Mortgage and Mr. Nigel **.

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I needed some extra income to pay off the two notes I had. My kids all have homes and my place is paid for. Also, I'm 100% disabled. I got in touch with Finance of America Reverse and I like the guy I talked to but he wasn't forthcoming in everything that was going to happen. He told me that I'd get $19,000 on my first draw and $23,000 on the second. I got some papers the other day that showed what I will receive. I only got $13,400 for the first draw and they're going to hold the $23,000 that I thought I was getting next year but I'm only getting $6,000. They will pay my taxes and my insurance but the taxes and insurance together don't even come close to that. I'd rather pay that myself. I’d have to live 25 more years to use that money.

So instead of paying the notes off, I simply put a band-aid on it. He also said that I had to have two appraisals. I paid for the first one and then he told me the time had run out. I told him that I'm not going to pay for another appraisal. He said that they would take care of that and they did. They took $500 something out of the $19,000 and paid for the second appraisal. I was lied to on that matter. In addition, it took too long and it's been almost a year. I wasn't really happy how it turned out and if I had it to do over, I wouldn't do it.

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Richard,

Thank you for taking the time to leave a review with Consumer Affairs to express your situation. We are sorry that the process was so lengthy and confusing for you and your grandmother. It is great to hear that Robert was working hard to guide you through the process. Please reach out if you have additional questions or concerns about your reverse mortgage. We appreciate your patience and we are sorry for any inconvenience this may have caused.

- FAR

Original review: March 17, 2017

The reverse mortgage with Finance of America Reverse was a part of my grandmother's retirement plan and I was involved when we got it for the first time in 2014 and it went great. But because the deletion of people dying and it did not have appropriate burial arrangements, we had to go through it again. On the second time, it took me a whole year to decide because I had to become conservator and guardian. Also, I had to do two different appraisals on the house because when the underwriters rewrote some of the plans, it knocked me out the loop again which was a mess. I really was upset with our agent, Julie, because I could not catch her on the phone. However, Robert did try to do what he could do and he stuck with me through the whole year of getting it done.

I had to sit trying to get it done, but then after four months of filling my thumbs and running back and forth to the lawyers, they finally said that they were going to approve the loan without me paying the VAT. So at this point, I would not recommend anybody for a reverse mortgage if they have debt. I'm grateful for all these extra checks that were coming in. The first check they sent me has an explanation, but the second check did not have an explanation. It's one of the checks sent to me talking about a disbursement, but the disbursement shouldn't have come until a year later. Overall, they could do better if people that were at the top didn't change as many things and that if it was done in four/five months and not for a whole year.

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Dorothy,

Thank you for leaving a review with Consumer Affairs. We are pleased to hear that Marina was able to explain the process and walk you through the reverse mortgage process when you were ready. For many people, like yourselves, it can be a great safety net in the event that something happens. We appreciate your choice to work with Finance of America Reverse.

- FAR

Original review: March 16, 2017

My husband put out feelers on what exactly to expect from refinancing. Several mortgage companies contacted us, but I didn't like the pushiness of the people that I had talked to previously, and Finance of America wasn't like that. They were just very explicit. Marina, the rep that helped us, had called us and we spoke with her. That was about two years ago. Then, when we decided to go ahead and do the refinance with Finance of America, we called Marina and spoke again with her, and we went through with it.

Initially, we were going to sell the house and move to a one-story house. Then we decided to stay here and do the refinance instead, so when we felt like we needed money, like if one of us got sick, or we had to put a chairlift in because we have a two-story home, we would be able to do it. Essentially, that's the only reason why we did it -- not to pay off any bills or a mortgage, because our mortgage is paid off, but to do it in the event that something happens.

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Steve,

Thank you for leaving a review on Consumer Affairs. We appreciate your choice to work with Finance of America Reverse. It is great to hear that you thought our process was so thorough.

- FAR

Original review: March 15, 2017

I put an inquiry in on the internet about reverse mortgage in general and Finance of America was the first to respond to the request. The rep was the most aggressive of all the people that called and she came in with a fairly attractive package. Even though it wasn't the lowest, it was within percentage points of the other people that submitted offers. I was already set with what I wanted to do and I just needed someone that I trusted to get me from what I needed to do and from where I was, and I felt a comfort level with her because she was so aggressive and continue to follow up. I felt like she would see it through the whole process rather than just get frustrated and let it fall through the cracks.

I did a lot of research into reverse mortgage and felt it was the best way to utilize our home equity in the long term as we don't need the money upfront. We can use it later in our retirement. The reverse mortgage was 10 times more difficult to do than a standard mortgage. The person we worked with did an amazing job aggressively going after paperwork she needed. If we didn't have it initially, she would call people, insurance agents, and do anything she needed in order to get the process completed. Overall, it was very thorough.

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Bob,

Thank you for leaving a review with Consumer Affairs. We appreciate your choice to work with Finance of America Reverse. We are happy to hear that you were very pleased with our service and that we were able to make you feel comfortable through the whole process. We look forward to the opportunity to work with you in the future.

- FAR

Original review: March 14, 2017

I lost my job and the reverse mortgage made social security enough. Finance of America Reverse reacted quickly and got through the process amazingly fast. The loan officer was extremely professional, friendly, and responsive. Also made me feel comfortable, and never left me hanging wondering what’s going on. And sometimes called just to check-in. I really enjoyed it. When I’m eligible to refile it again in 18 months, they’ll be my first choice.

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Susan,

Thank you for taking the time to leave your first ever review with Consumer for Finance of America Reverse. We are so happy to hear that Matthew and the team was able to answer all of your questions and make sure that everything went smoothly. We appreciate your kind words and recommendation.

- FAR

Original review: March 13, 2017

This is my first review ever. I am doing it to take the fear away from other seniors who may be rethinking the golden years. I was very skeptical of the entire process to begin with. After talking with a lawyer, and mortgage broker I decided too deep to my toe into the process. I felt lucky to talk to a representative Matthew ** of Finance of America. He answered all my questions, and many I didn't know I needed to ask. I was still in the research mode - he stayed with me for over 5 months to help me through my decision process. I would like to add always with a cheerful demeanor. Once I made the decision to proceed - the entire team, Mike **, Crystal **, and Marci ** more than PHENOMENAL. If you are on the fence - this is a vote for Finance of America.

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Donald,

Thank you for taking time to leave a review on Consumer Affairs. We are happy to hear that William and Jasmine were able to provide you with superlative assistance through the process and answering all of your questions. Thank you for allowing us the opportunity to serve you.

- FAR

Original review: March 13, 2017

Recently I applied for a reverse mortgage with Finance of America. William and Jasmine provided me with superlative assistance. Their expert knowledge and assistance made the entire process smooth and seamless. They were like a well oiled machine that made the entire process simple and pleasant. They had ready answers for my array of questions about the bewildering and complex process of a reverse mortgage.

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I found Finance of America Reverse on the internet and went with them because of the people I talked to. However, I didn’t know that they would only give me a certain amount of money the first year. I assumed that they had a loan on the house that they were collecting interest on.

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Bethine,

Thank you for leaving a review on Consumer Affairs. We're happy to hear that Linda was able to guide you through the entire process professionally by answering all of your questions and concerns quickly and efficiently. We appreciate your recommendation and business.

- FAR

Original review: March 9, 2017

We recently finalized our reverse mortgage. Our specialist was Linda **. She guided us through the entire process professionally. She answered all of our questions and concerns quickly and efficiently. We would definitely recommend Mrs. ** as a specialist.

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John and Betty,

Thank you so much for taking the time to leave a review with Consumer Affairs. It is great to know that you all had such a wonderful experience working with William to get through the reverse mortgage process. We work very hard to make sure the process can go as easily as possible. We appreciate your recommendation and choice to work with Finance of America Reverse.

- FAR

Original review: March 9, 2017

WE knew virtually nothing about Reverse Mortgages and just got online to see what we could find out. Finance of America's William ** was the first one to answer our queries and we were so pleased with all the information that we received from him. He was honest, and patient and answered every question we had, and made sure we understood everything along the way. He was there for us from the beginning until the end. I don't know how anyone could be any better at working through every step of the way. We had heard some horror stories about the process taking so long, but ours was over in less than a month from start to finish! We would not hesitate to recommend Finance of America to anyone!

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:
Website:
https://dm.fareverse.com/consumer-affairs