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Finance of America Reverse
Finance of America Reverse
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(844) 336-1893
Overall Satisfaction Rating
4.64/5
  • 5 stars
    472
  • 4 stars
    84
  • 3 stars
    22
  • 2 stars
    13
  • 1 stars
    12
Based on 603 ratings submitted in the last year
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Finance of America Reverse

ConsumerAffairs Accredited Brand

Finance of America Reverse is one of the premiere reverse mortgage lenders in the United States. Since 2003, FAR has been providing homeowners age 62 and older with the financial independence they deserve while preparing for or during retirement. By utilizing home equity for a retirement asset, these savvy homeowners are able to strengthen and lengthen their retirement plans.

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1541 Finance of America Reverse Consumer Reviews and Complaints

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Rated with 5 stars
Verified Reviewer
Original review: Oct. 18, 2018

Our agent Amber ** was fantastic! She was available to answer any and all questions we had from start to finish any time during the day and into the evening. She responded quickly to any and all questions even once when I interrupted her at her daughter's sporting event. We can't say enough good things about the way Amber ** helped us AND in record time... less than 3 weeks from start to finish! Donna and I highly recommend Finance of America and Amber **. Very happy customers right here!

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 17, 2018

Early this year, my husband, Ron, talked to somebody on a cold call and was very impressed with the information he got. Then they sent us all the stuff, which was like getting a book, and after reading it, it sounded like going with Finance of America Reverse was good idea at this point in our lives. So, we called them back. The rep that we dealt with, Janella, was a darling and it seemed like we've known her forever. That was the kind of relationship we had on the phone with her and it was so positive. Things went swimmingly and we're very happy with it.

The application process was long, but it was understandable why. Everyone we dealt with from the appraiser to the the woman who was the notary that came to the house, was wonderful. They gave us great service and the process was very easy for us. This wasn’t something that had to be done right away, although I had surgery in August and we were trying to get everything done before I went to have it. It was a very pleasant experience all the way around and I would recommend Finance of America Reverse to anybody.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 16, 2018

Finance of America Reverse's application process took over a period of three months and they did a great job. Jill, the loan officer, was on her game all the time. She knew what was going on and was always available. She called us every other day to straighten things out if we had something. We just emailed her and she emailed us back or called us and we would call her. Everything worked out good.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 13, 2018

I talked with our financial advisor and he recommended Finance of America Reverse. They were a local company and it seemed like a natural fit, in contrast with the company we started out with where everything would be done over the phone. Finance of America Reverse's application process was very clear. Our first appointment was with Matt. He made everything clear, simple, and easy for us to understand. We went through the counseling program and it was a wonderful experience. Also, the rate and terms were very fair. It's almost like a dream. Everything went super from the man that did the appraisal and we couldn't have asked for anything any better. I would recommend their company to anyone.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 12, 2018

We were looking to do some stuff around our house and to not be so tight every month, and a reverse mortgage was a good way to do that. I like Finance of America and their rates. Robert, the loan officer that we worked with, was very knowledgeable and straightforward. He wasn't holding back anything and trying to roll the ball over. He gave us plenty of opportunity to ask questions and he answered them to our liking. The application process was a piece of cake. The whole process wasn't that long and it took 30 days or less. We had to wait for the appraiser, then we had to wait for the government people to talk to us for the counseling. That part was fast but waiting for them was what took up the time.

We hated to spend the money for the rate and terms of the reverse mortgage and we never liked to put that much money down, but it was something that we figured we had to do. Nothing came out of our pocket, though, but that came out of the equity. Also, everybody had to do the government insurance and although we hated to do that, it was part of the process. At this point, working with Finance of America has definitely made our lives less stressful because we can do a few things. It's not that we don't have any back-up money, but as we were getting up there in age and considering how much money we wanna leave our kids, we figured that we could use our equity in the house.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 11, 2018

My mom needed extra money. I convinced her about getting a reverse mortgage but she was nervous about doing it. She's afraid she's gonna lose her house. Josh, the guy from Finance of America Reverse who helped us, was so good at going over the process and explaining to my mom, and then I would go over it with her. And it was easy to do. The process was quick. Josh stayed on it and he got everything to us right away. The guidance we received was excellent. It went really fast. It would've been only four weeks. It was just a little bit more complicated with my mom than a normal person would be. In Texas, she can pay her property taxes for January, February, March, April, in four payments. We'd always paid. I took care of paying them for her, and I always did that. I thought, why pay a lump sum, if I can do in four payments?

But other than that, the process went really smooth. The only other thing is, it's a little pricey. But I understand in the past that so many people have screwed the government with these things, that there are these fees, like insurance fees in case, but there's so much equity left in my mom's house that there's no risk to a borrower, but still we're having to pay this insurance. I don't like that. The worst part of it all was having to pay that exorbitant fee, for people that defaulted on, or else the houses are upside down. But my mom has a bunch of extra money now, and it has changed her outlook. She feels much more comfortable and confident, and she's not depending on her kids. I've already recommended Josh from Finance of America Reverse to three other people.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 10, 2018

I have a permanent disability that I've obtained and I don't want to work in the market place. Finance of America Reverse gave me some choices that otherwise I wouldn't have. The flexibility that Finance of America supports me, having to do with the house that we have, is why I did a reverse mortgage with them. I've done business with Finance of America for many years in the consumer credit process, and was very successful at that with Mitsubishi. The simplification process was very similar. Finance of America's application took 30 days. Toby, the person I had on the other end, was very energetic, very eager, and always answered my questions. He made it a much quicker process than other people would have so that was a plus. I was provided with the materials and was able to read them with no problem. The rate and terms were fair. Finance of America Reverse is a good deal if it works for you.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 9, 2018

Finance of America Reverse called me and the application process went pretty smooth. Their rep sounded like he knew what he was doing and he explained things really well. Working with them has helped me a lot. I've paid off some doctor bills and I'm getting some new carpet that I needed really bad and getting my car fixed. I had no problems at all and I was pretty happy with it.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 8, 2018

We applied to a lending provider who turned us down and then I tried to apply for some grants and didn’t get anywhere that way. I looked at the internet for other reverse mortgages and Finance of America Reverse was the first one that popped up and I thought I would try. So, I gave them a call and they were Godsend. The application and underwriting process took a while. My husband wasn’t pleased with all the paperwork and the time it took, which I expected, because his hands hurt and he couldn't sign that many papers. Other than that, it was a pretty smooth process. Our loan officer said he was going to pray for us that the loan would go through and I've never had that kind of experience with a rep before. Also, he said I could call him anytime I had questions. It's nice to know that he's willing to accommodate me.

The rate and terms we got were fair and I felt I wasn’t being misled or they weren’t trying to blow smoke. They made themselves clear about all the aspects of the loan. Finance of America Reverse had all the right answers and they developed a feeling of trust with me, so I felt like I could trust them and I'm very happy that we did.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 7, 2018

I had a lot of medical bills and I've been widowed. When I was married, we incurred a lot of debt. So, I decided to clear off my debt. I looked into getting a reverse mortgage and Finance of America Reverse was recommended to me. It wasn't that hard to get it through them. I had to do a lot of paperwork and it still isn't complete because I had to have my driveway repaved and my garage painted, and then I'd get $3,800. Andrew, the loan officer that I worked with, was fantastic. He was extremely friendly and thorough, and he made sure that I got what I wanted. The rate and terms of the reverse mortgage were fair. I've had an excellent experience with Finance of America. Working with them was fantastic because I don't have debts anymore.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Oct. 6, 2018

Finance of America Reverse's initial fees was a lot less and they had more information for us. The person that walked us through it was very knowledgeable and on top of things all the time, so it went well. The rate and terms were acceptable but I was not happy to have to do the adjustable rate mortgage. I wish we could have been able to get a fixed rate but we couldn't. Other than that, the application and underwriting process went very quickly and it took six weeks. I felt very comfortable working with them. It seemed like every morning, the rep had a phone call with another step to take and like she was very knowledgeable. We didn’t have any glitches along the way.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 5, 2018

Will **, Reverse Mortgage Specialist, did an outstanding job helping us successfully get a reverse mortgage. He was professional, very friendly and extremely knowledgable of reverse mortgage loans. He is a valuable asset to Finance of America.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Oct. 5, 2018

I retired early and I have a disability. So, sooner or later, the money runs out and it's getting to that point where those security isn't gonna quite cover everything. It was a hard choice because most people don't recommend reverse mortgage but I decided to look into it. Finance of America Reverse didn't have upfront fees like everybody else did so I went with them. They waived 4,000 to 5,000 with the fees that nobody else would.

The application and underwriting process took about three weeks, but I disputed the appraisal of the property, so it took about two months. The process went quite easy. They sent someone out to the house and I did it all right there. It couldn't get much more convenient than that and that went pretty good. Also, the loan officer, Toby, was great but I had a hard time getting a hold of him most of the time. He wouldn't return my information to me. I would have been happier if he communicated with me better. Finally, the manager of the place took over and things were getting done and everything went quite smoothly. The rates and terms were quite fair. It was about $6,000 that I didn't have to pay and it wasn't put in the loan either.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 4, 2018

We decided to keep the house of my mom and dad and not get rid of it. I did a lot of work on the outside. We've also done some work on the inside and got it up nicely. So, we decided to get some money and fix the house up so whenever we're gone, my family will have something. We decided to go with Finance of America in getting a reverse mortgage. The application process was fairly easy. Everything was all right with the lending process. The loan officers were all nice and easy to get a hold of. Nicole, an adviser there, was really nice to us all the time. We liked the rate and terms of the reverse mortgage that we received. It was very nice and good, and it could not be any better. Now we know that we are gonna have the money that we want if we wanna use it and we can do what we can to our house. It's a really nice home and it has been in the family for over 80 years. Everybody at Finance of America has been good to us.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 3, 2018

My husband had stage 4 cancer, and we ate through quite a bit of our savings during his illness. I also didn’t wanna worry about losing my house. I started out with three different companies, researched them, and talked with representatives of each company. I felt most comfortable with the fact that the representative from Finance of America Reverse was in Indiana, and all the others were in California. I thought somebody who was a little more local met or understood my needs better than somebody in California. Andrew was the name of my representative, and he was very personable. He was easy to talk to. He answered all my questions. He returned my calls or my emails very promptly. I did not feel pressured. One of the other companies, in particular, made me feel very pressured, and I didn’t appreciate that. Overall, it was a very good customer service with Finance of America Reverse.

The enrollment process was easy. I was able to put my hands on what I needed without difficulty and could get things back to Andrew in a timely way. I have a good credit history. So it was easy from my end, and Andrew made it easy from his end. The process went so fast. It was about six to eight weeks. I was amazed. Also, the rates were very competitive. The second company I talked to had quoted me some numbers, and they were a little bit better than Finance of America Reverse. I went back to Andrew and asked if he can meet it and he did. His boss approved coming down to the same rate as the competitor. I was very pleased with that.

But there were a couple of things after the process ended that caught me by surprise. One is the use of the Celink company to handle the paperwork and the house closing process. When I got a communication from them, I had no idea who they were. They didn’t say they were contacting on behalf of Finance of America Reverse, and it was really disconcerting. It appeared as though Finance of America Reverse has sold my loan to this Celink company.

I emailed Andrew right away and said I really wasn’t happy with that. He got back to me right away and said they’re the company that processes the post-closing paperwork and the monthly statements. So a clarification of that to the borrower like me would be helpful so it doesn’t catch you completely off-guard, and not to think that Finance of America Reverse didn’t keep their word. Nevertheless, I have recommended them to others.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 2, 2018

I wanted a reverse mortgage to be part of my retirement plan. The house is worth about $3,000,000 plus and I have quite a lot of equity that I wanted to draw on. Also, I couldn't afford to get on a credit or something because I'm not working. I am retired so, that may be difficult. In a way, the only choice for me was to go for that. Somebody called me and told me what I could do and one thing led to another and finally, somebody from Finance of America Reversed called and said he actually works with the lender so he could give me better terms. Finance of America, as far as I could see, has the best plan and the best numbers and rates. And the qualifying factors were easier than the rest of them. The only other one that I inquired with was AAG and they were outrageous.

I worked with Zachary and whenever I called in, he was available. He answered all my questions and he helped quite a lot. I put into a lot of hardship because the other brokers were coming in with better deals and better things and then I would just call him back and tell him the offer that they had and if he could match it. He would they would not only match it, but they could better it. He was really helpful. I intended to work with him so I gave him all the chances to come through and he did. The rate and terms were what I wanted. It's expensive but I knew what I was walking into. So, it wasn't a surprise.

The application process started with about maybe a few weeks of going back and forth. It just kind of became almost obvious that it was not gonna go through because of the amount of debts that I had. So, the qualifying was a little bit more rigorous than I had anticipated and we sort of put it in the back burner. But they changed their policies and they came up with a new program. From the beginning, when I started talking to them, until we actually closed, it took about five or six months. But from the actual time that they said that they could do it, it only took very, very little time. It was amazingly fast.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 1, 2018

Everything to do with Finance of America Reverse was great. We just moved into our house that we weren't going to want to leave to relatives. We got to fairly, steadily building up credit card debt and the repayments were beginning to get a little bit out of hand, so a reverse mortgage seemed like the obvious solution. I tried to get a hold of AAG and I went to LendingTree which came up with 5 loan providers, of which three took the trouble to get in touch. The rep of Finance of America, Thomas, was very helpful, answered all my questions, and wasn't pushy. He was the nicest guy to work with and they came up with the best offer out of the three offers that we got, and that was a difficult combination to go against.

The process we had to go through to get the ball rolling with them was pretty straightforward. Thomas' whole approach was terrific and he stayed in contact through the whole process. We managed to do most of the to-and-fro communication with emails. But he was going through this quality assurance department and was prejudging them on a lot of documentation, which meant that I had to hunt around, find things, and get things out of people that eventually weren't required by the underwriters. There was quite a lot of stuff that was asked for that was tedious to get a hold of but was eventually not needed.

As an example, I'm on full pension and an old-age pension from the UK and my wife has an old-age pension from the UK as well. Thomas said that we needed to get statements from the paying authorities that these pensions are payable until death, and that was quite a process since they were all UK authorities. I managed to get the statements, but in the end he didn't need them.

Otherwise, it was good with Thomas. He was making sure that he had all bases covered and there were no hiccups when we finally got into the process. That was fine and it was all done with the best of intentions. If it had gone the other way around and suddenly, well into the process, he said that we needed a piece of paper that was gonna take us three weeks to get, then that would not have been a good thing.

All in all, the lending process was completed in 25 days from the time that we got the appraisal. The rates and terms that we received with our reverse mortgage were very good. Working with Finance of America Reverse has improved our lives considerably and it has taken away a lot of worries. If all their agents are the same as Thomas, then I wouldn't hesitate one moment to recommend them.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Oct. 1, 2018

We chose a reverse mortgage to set up a line of credit for the future and in the event that we end up having to go into that for income rather than having a nurse come to the house. My son has been in the reverse mortgage business for years, and I had him help select Finance of America Reverse. The process seemed long but a lot of it had to be done long distance, so I understood that. The rep was right on the money with everything she talked about doing and preparing us for it, explaining in detail about what we were doing and why we were making the choice of doing that. She also allowed us to ask lots of questions. Though I thought the rate was a whole percent higher than what our regular mortgage was, it was okay.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 30, 2018

The cost of the deal that Finance of America Reverse was able to provide had me doing business with them. They were competitive. I gave them pricing from other reverse mortgage companies that they were able to meet or beat. From start to finish, the lending process took under 60 days. Most of my dealings were with Joseph, my loan officer, and it went fairly well with him. Although there are always a few bumps in the road, he was there to answer my questions. It would not really matter which company you dealt with as long as you felt good with your loan officer and the rates and pricing were competitive. Working with Finance of America Reverse was a good situation.

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Rated with 1 starResolution In Progress
Verified Reviewer
Original review: Sept. 29, 2018

I was recently referred to Jill from my realtor. I am very upset and do not know how/or why this got so far. I applied for a loan and was told that I was qualified. My family and I were looking for a home in the Sparks area. We had looked online and just skimmed through Zillow/Homes.com and so on. I had a realtor prior to looking. We did not have any idea of what we would qualify for. So we applied with Jill. We gave her all the documents that were requested and she kept in contact with us regularly.

We did have high expectations and crossed our fingers. We did not get the high side of what we were hoping for to loan, but it was still a great number. I had signed all the documents and was approved with no issues or concerns from Jill. So the search began. Our realtor and I went to several houses to determine the best bang for our buck. We found the "perfect house". All the paperwork was to follow. This as you know is not a fast process. We sent an offer letter. To my knowledge, the offer letter does get sent to Jill/loan office. The seller counters and we do as well. Both parties agreed and settled on a price. I went to our realtor's office to submit a check and sign all the necessary documents. By this time several weeks have gone by prior to the approval.

I was then sent a congrats email/video on the house being accepted. (This was a great touch and made the experience exciting). At this point, our realtor and I set up the inspection process. I did not realize that the inspector really checks everything inside and out of the home. We had an appointment at 1:30. I arrived early around 1:15. The inspector had already been there for some time; as he had his ladder out and was practically completed with the front and side yard. The realtor and I spend 2 hours at the "new" home. As you know, the inspector is a third party and has a bill of his own without escrow. Our realtor and I briefly review the report. Jill informs me that the next step is appraisal of the home to verify the value. I then get an email from Jill asking me to give her a call.

THIS IS WHERE THINGS GET VERY BAD!!! Jill let me know that the loan NOW will not be approved. She gave me some excuse that made a bit of sense. She had said to check back in later to see if anything would change in the future. Meanwhile. Myself - the realtor and the seller has wasted valuable time!!! I've paid for services and promissory documents! I am now out of this time, and money. I had already given notice of where I am staying and now in a jam. This is UNACCEPTABLE!!! I do not understand after turning in every piece of document requested, that after - (close to a month), I am all of a sudden not accepted.

Why was this not spotted beforehand. It would have saved so much time for everyone. AND MONEY!! Now I am running around trying to find a place for my family and I to rent. (I have now 12 days to find out where I will be living with my family.) This includes trying to squeeze into my busy schedule, to view homes, get paperwork checked out, enroll my children into schools. Something that I could have avoided last minute. Not to mention our realtor had spent several days with me. Hours of paperwork. Mile high of paper. I took many days off work - loss of income.

The seller - I really do not know the situation behind them. I am sure that they are extremely upset. In my situation; I am not sure if he has had tenants that had got any news of the sell (giving the tenant eviction notice). Or maybe they could not buy a home without selling this home first. I can imagine the frustration of everyone involved in this - except for Finance Of America. My family and I are now in limbo with an uncertain future. Thanks for the emotional and stress your company has caused my family.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 29, 2018

My mother needed to pay the taxes on the house, and the Finance of America Reverse personnel that I worked with, Cindy, was fabulous. She answered all my questions and calls, walked us through it, held our hands and got back to us right away. I didn't have to chase her down. I was also impressed with the fact that she could break it down into terms that we could understand. There were a lot of jumping through hoops during the process plus a lot of paperwork, and that was okay because we're educated on what we are doing. The biggest part was that since I'm also on the title, there was something hung up with Synchrony Bank. It took me and the title person, Charlie, to get us taken care of. I was pretty satisfied with everything that FAR was doing and how quickly they were doing it for us.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 28, 2018

I had a really good experience dealing with the company. Presley devices that I had Travis and William that walk me from beginning to end, answer all of my questions and I would do it all over again if I had them on my team as working through. It couldn't have a better experience.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 28, 2018

I needed some cash money. Finance of America best suited my needs from the information I had beforehand and they were very courteous and good-mannered so I picked them. The application and underwriting process took three weeks. The loan officer was very helpful, very thorough and she knew the answers to all the questions I had. Their rates seem to run really good. I’m happy with Finance of America. They helped me in my situation and I’m sure they can help someone else.

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Rated with 5 stars
Verified Reviewer
Original review: Sept. 27, 2018

The loan process was complicated, but my loan officer answered all my questions. Monica was the consummate professional. She bent over backwards to make sure our loan went through. I would be pleased to recommend Monica to anyone I know who is interested in a reverse mortgage.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 26, 2018

I had a house that’s paid for. I’m also retired and I needed more funds. A reverse mortgage seemed like a good way to get some funds without taking a loan. Finance of America Reverse had very good reviews. The application process was excellent. And from start to finish, the whole thing took only a couple months. They did a great job. Randy, my loan officer, was very efficient and she answered all my questions. She was also available any time that I needed to talk to her. Also, I get monthly statements and the rate has been great. Working with Finance of America Reverse has helped me a lot. I had savings so I can take it easier on my investments and I can use this now. I use the equity in my home. I would recommend Finance of America Reverse.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 26, 2018

At one time, I was thinking about selling my home. My husband had passed and I was getting older. But I didn't know where I would go when I've sold the house. Then a lady spoke to me about reverse mortgages and it has helped me in different ways. My bills were overloading me and the mortgage helped me to get out of debt, not to have all that burden on me and to put money aside that would be there when I really need it.

The process took about four weeks and it went smoothly. It was just trying to get all my paperwork together and it wasn't difficult. The terms were fair too. Sherman was the one I talked to the most and he did all he could to help me. When things weren’t looking good, he lifted me up. Before it was over with, I felt like he was a friend. There were some questions I asked him like what if something happened to my home. And he said we would come to that. With the storm we had, there was a lot of flood around and he said there is some money that I can get next year. But I was wondering why I couldn’t get it all at one time and he wasn't really able to explain that. Otherwise, they explain everything to the client – if there are questions, if a reverse mortgage is really what you want and if that’s what you're looking for.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 25, 2018

I reviewed five different companies before I made my decision to go with Finance of America. The people that I worked with at Finance of America were the most honest and realistic about what I could and couldn't do, and they were very helpful in understanding my circumstances and working through those issues. I had done a lot of prep work during the application and once I explained my situation to my representative, he and I took the necessary steps upfront to obtain all of the required information for the underwriters so that they wouldn't have any questions.

I was impressed by his commitment to me in terms of reaching out, making sure that things were progressing, giving me regular status updates, also reviewing things that might be required ahead of time so that I could get them ready prior to them actually asking for information. They also have a competitive rate and they made it easier for me to deal with the monthly expenses that I have. You could do your homework and compare the different companies that are out there, but you would find that this particular company is the easiest to deal with and they would look out for your best interests.

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Rated with 5 stars
Verified Reviewer Verified Buyer
Original review: Sept. 25, 2018

Finance of America Reverse was extremely helpful in explaining everything. The application was long and thorough. By time they got everything organized the way it should have been, it was probably weeks. I wished there was a way it can be quicker, but I guess with anything involved in the government, there's no shortcut. On the other hand, their reps were quite knowledgeable and the rates during that time was fair. Finance of America allowed me to retire when I planned.

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Rated with 4 stars
Verified Reviewer Verified Buyer
Original review: Sept. 25, 2018

This is my dad’s second reverse mortgage and his first mortgage ran through his money, so we went ahead and refinanced for the second reverse mortgage. The process with Finance of America was easy and it took 30 days. The representatives were good too. My dad had his loan closed in July but here we are almost in October and my dad has not received his $500 monthly installment like he was supposed to get. I called my agent and they were supposed to figure out why he hasn’t received his money yet. It hasn’t been very good at all. But other than that, everything was fine.

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Rated with 3 stars
Verified Reviewer Verified Buyer
Original review: Sept. 24, 2018

I went through the process of getting a reverse mortgage at Finance of America Reverse last May 1st and it was mistakenly set up to withdraw a lot of credit anytime rather than a monthly payment. I tried to get it fixed but I was gonna be out of town for two weeks, but there was almost a week before, so I called and asked them to email me the forms to change the line of credit to a monthly payment. The email never came until long after we had left. By the time I came home after two weeks, I found the form in the mail, filled that out immediately and sent it in. I then got a letter which said that I had filed it too late, and I would have to start the process all over again.

I tried to call the office that does this. And not only was I not been able to talk to a person, I never even got a chance to leave a message, it just rang and rang and rang. I tried several times, nobody answered, no message recording, nothing. I went back to the salesperson and I finally got the form, filled it out and sent it in immediately. I was supposed to get the first payment on September 1 and so what I had to do to get that payment was to send in the request form, for a line of credit withdrawal, to cover that month. While the person I worked with has been very helpful, my experience makes me a little apprehensive in dealing with Finance of America Reverse, and putting the entire equity of my home in their hands.

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Finance of America Reverse expert review by Michele Lerner

Finance of America Reverse has been servicing mortgages and reverse mortgages since 2003. It consistently gets high scores on customer satisfaction surveys.

  • Provides comprehensive information: Finance of America Reverse offers a Reverse Mortgages 101 page as well as an FAQ page to ensure every customer understands what reverse mortgages entail.

  • Focuses solely on reverse mortgages: Consumers can easily find the loans they are looking for since Finance of America Reverse doesn’t service any other type of mortgage.

  • Customer service: Finance of America Reverse offers 24-hour customer service by phone and email. Consumers can easily resolve problems or get questions answered.

  • Loans: Finance of America Reverse provides HECM loans.

  • Best for: Seniors on fixed income and seniors who want to enjoy their later years.

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Michele Lerner Mortgage & Real Estate Contributing Editor

Michele Lerner, author of “HOMEBUYING: Tough Times, First Time, Any Time”, has been writing about personal finance and real estate for more than two decades. Michele writes for regional, national and international publications in print and online for a variety of audiences including consumers, real estate investors, business owners and real estate professionals.

Finance of America Reverse Company Information

Social media:
Company Name:
Finance of America Reverse
Company Type:
Private
Year Founded:
2003
Formerly Named:
Urban Financial Group
Address:
8023 East 63d Place, Suite 700
City:
Tulsa
State/Province:
OK
Postal Code:
74133
Country:
United States
Phone:
(877) 405-0917
Website:
www.fareverse.com
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