Overall Satisfaction Rating
4.64/5
  • 5 stars
    370
  • 4 stars
    52
  • 3 stars
    16
  • 2 stars
    7
  • 1 star
    12
Based on 457 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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Last updated: Oct. 15, 2017

918 Finance of America Reverse Consumer Reviews and Complaints

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Verified Reviewer
Original review: Oct. 15, 2017

I had too much debt since my husband died. I was paying my bills but I was getting behind and I didn't want that. I read on Facebook that reverse mortgage was something to look into and it was very appealing to me because of the fact that I can pay it back if I want to, but if I don’t want to I don’t have to. My son will. My intention was to immediately start paying on it as soon as the rest of my debt is taken care of but the option’s there and that meant a lot to me. I've also gotten some insurance so that will be able to help my son with paying it back hopefully.

I went ahead and sent for literature on reverse mortgages. I looked at two other companies but they kept telling me they would contact me. I waited forever and they didn’t. Besides, Finance of America happened to be the first one that sent to me and I very much liked the representative so I went ahead with them. He had the same last name with some relatives of mine and that made me feel comfortable. He was also always available, very pleasant and accommodating. If I didn’t understand something he was very patient and explained it very well. He seemed to know what he was talking about. But after I signed all the papers it was a little different. He became lackadaisical but once he started to fail me his boss, Mike, contacted me.

Mike was absolutely amazing. When I was having problems he was there for me all the time. If I called him right now he would sit down and talk to me for an hour if I needed to. I wish he would've been my guy through the whole thing because he was just so pleasant and so understanding. I had some major experiences because when they did the appraisal they found mold in my basement.

I was totally caught off guard. I'm in a wheelchair so I haven't even been in my basement in 15 years. They told me it was going to be $4,500 and the loan wouldn’t push through until that was taken care of so then I was having to take a loan to get my loan and I was literally beyond myself. I was crying in tears and Mike got on the phone with me, calmed me down and said they would see if there was anything they could do. They even offered to get someone for the mold but I knew people in the area who knew who to call that was close by. The company that came out was AdvantaClean out of Michigan City and they were the most amazing people. They told me they would do it for nothing. He said he didn’t want me sick and that he wanted to help me. I can't recommend them enough.

Afterwards, I also had a burglary and my garage door was broken. It was going to be $500 to get it fixed and I didn’t have the money. At first the rep said they would set that money aside and when I get the loan they would send the check directly to whoever fixed it. But then they said no because of safety issues. I had to have it fixed before they would give me the loan. So first I had to get the mold cleaned before I get the loan and now I have to get $500 for the garage before I can get the loan.

The rep told me to contact the contractor and ask if there was any way they could do it. He told me that I could give them a letter stating that there will be a check cut for them as soon as the mortgage comes through. So I contacted Crawford Door and they were wonderful. They told me not to worry about it and they would be there in the morning to do it. They sent the bill and we sent the bill to the rep. He said that it would be a set-aside and that I had nothing to worry about.

Everything went through and on the day I got my loan I sat down and wrote out all the bills I could pay. I wiped out everything that they gave me because I didn’t want to take a chance in spending it. That was the first thing I did and I thought everything was finally taken care of. A month and a half later I got a bill from Crawford Door. They were never paid and I tried to get ahold of the rep to ask him what was going on. He guaranteed it and then he wouldn't answer my calls and emails. I even left voicemails on his cellphone. That made me very afraid that Finance of America was shady.

I was so upset that I finally called the corporate office because I lost Mike's number. And then the corporate referred me back to Mike and once I got ahold of Mike I calmed down because he was there for me. I told him I lost his number and he gave it to me again. Mike told me the rep was no longer with the company and he never put the bill for a set-aside. That $500 was in my money that I paid bills with, but nobody told me this so the rep messed me up a little bit. Now I still owe Crawford Door and I'm having to make some payments because I don’t have the money. It angered me because although the rep was no longer there he could have let me know that he was leaving. But obviously once he closed and got his commission he didn’t care anymore which is sad.

People need to have someone there for them after they've gotten the mortgage as much as in the beginning process. Companies have to coach their clients along so that they feel comfortable that they're being taken care of. But I had a bad rep and anybody can have a bad rep. But he wasn’t bad the whole time. One little bad part of the apple didn’t ruin the whole pie and I would definitely suggest to skip the little guys and go with the boss.

I also loved the fact that they came to me. The other two people that I was looking into would have had me go to their office to sign everything. But I'm in a wheelchair and it's very difficult for me to get someone to take me. When Finance of America said they were coming to me, it was wonderful because reverse mortgage is for old ladies and guys like me and it is more difficult for us to get out and take care of business. The guy who came and had me sign the 12-foot high stack of papers was very good at explaining things to me.

I love Finance of America. They took care of everything for me, from the guy who did the appraisal to the guy who came to have the papers signed. As we're elderly people having to do this it's not as simple as when I first bought my home 50 years ago. But they literally were there for me every single step of the way. They made it so convenient and I would absolutely recommend Finance of America.

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Finance of America Reverse response

Barbara,

Thank you for taking the time to leave a review with Consumer Affairs and share your experience. We are so happy that everything went well and that you were Mike was able to guide you successfully through the reverse mortgage process. If you ever have any questions, don't hesitate to contact Mike or any representative at Finance of America Reverse.

- FAR

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    Verified Reviewer
    Original review: Oct. 14, 2017

    My house needed a new roof and the house is paid for so I decided that I'd put it to work for itself. I talked to about four different outfits and I liked that Finance of America has a cap on the interest. Most of the other ones didn’t have a cap on it. I was in touch with my loan officer a lot. There were a little bit of delays, part of it because I'm traveling a lot and I wasn’t here when they were here.

    Also I had to sort of pre-finance the repair because the FHA people wouldn't release the money until the actual roof was done. The guy from FHA inspected the house and said, " “Well, the roof isn't done. I can't give you a go-ahead until it's done because FHA was not going to do the backup coverage on the house until the house was in good shape.”

    That ticked me off a little bit because I said, “Well, I need the money to fix the roof, not the other way around.” But then I was able to finance it myself and other than the delays, the experience, as well as the transition, was fairly smooth. They explained to me how the line of credit actually increases if I don’t use it. Also the other good part of it was that I had an established evaluation X and they came back with evaluation X plus, plus. Then they hand it off to another company that manages it.

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    Finance of America Reverse response

    John,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that a reverse mortgage worked well for your situation and that your loan officer was in contact and guiding you the whole way. If you have any questions, don't hesitate to reach out to Finance of America Reverse.

    - FAR

    Verified Reviewer
    Original review: Oct. 13, 2017

    Nigel is a very thorough and dedicated person that has been there every step of the way. He has made this process seamless and uneventful. He went above and beyond the entire time. He is definitely heaven sent. THANK YOU SO VERY MUCH NIGEL!

    Finance of America Reverse response

    Diane,

    Thank you for leaving a review with Consumer Affairs. We are so happy that Nigel was able to guide you through a seamless reverse mortgage process by going above and beyond expectations. We appreciate your choice to work with Finance of America Reverse. If you ever have any questions, don't hesitate to contact us.

    - FAR

    Verified Reviewer
    Original review: Oct. 13, 2017

    Working with Finance of America Reverse was a good experience. They weren't pushy, plus, it went fast and that was the main thing. I liked Scott, the guy who helped me, very much. I was working with another guy when Scott called me out of the blue. I told him where I was with the other guy. He then said he'll see what he can do for me. It was really great to have somebody call me.

    Scott was super nice and has great manners. He was in charge and answered all my questions very well. I had already done a reverse mortgage but I still didn't quite understand it. It helped me out a lot 'cause I got $30,000 back. I was really hurt and I needed money. I'm 72 and I'm still working. I do massage for a living. It's a hard job and I'm so tired. As you get older, it's even harder, but it's the best way that I could make good money at my age.

    It worked out great. Another good thing that Scott did for me was mention that I could have a line of credit. They've set aside a nice amount of money. It's drawing interest now, but I can't draw on it for a year, which is fine because I can live for a year on the 30,000 that I got. Plus, just knowing that when I need it, I could get cash, is huge for me. I would recommend Finance of America to anybody.

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    Finance of America Reverse response

    Sandra,

    Thank you for taking the time to leave a review with Consumer Affairs. We are pleased to hear that Scott was able to explain the product and guide you through the process at a good pace for you. Your choice to work with Finance of America Reverse is appreciated.

    - FAR

    Verified Reviewer
    Original review: Oct. 12, 2017

    I'm satisfied with Finance of America Reverse and we had no drawbacks. Initially their guy kept calling me and brought all the paperwork to me. I went over it with my wife before we decided to go with it. I talked with other companies but Finance of America Reverse was the most honest. Everything went well and I'd give their reps an A plus. They were very courteous and answered any questions we had. The finance helped out when I needed the money to get some of my hospital doctors paid. That worked out well for us. At our age there's not a whole lot we can do other than what we did so it's a lifesaver and I recommend them.

    Finance of America Reverse response

    Robert,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that your experience with our staff was an A plus. We're happy to answer any questions about your reverse mortgage any time, don't hesitate to contact your loan officer. It was a pleasure to work with you and we appreciate your recommendation.

    - FAR

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    Verified Reviewer
    Original review: Oct. 11, 2017

    We had thought about reverse mortgage and had been looking into it. The gentleman from Finance of America talked to us about it and got us going with the reverse mortgage. We liked his customer service better than anybody else. He was great and very helpful. Also, he always returned every call promptly. The process was very smooth and everything went well. We were very satisfied with Finance of America.

    Finance of America Reverse response

    Barbara,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that the whole process went smoothly and you're satisfied with the guidance received, our service, and your reverse mortgage.

    - FAR

    Verified Reviewer
    Original review: Oct. 10, 2017

    I talked to my Finance of America Reverse loan officer and he seemed to be the guy that would give the checklist and go down through the items needed so I didn't bother investigate on other companies. I sent him my stuff but there seemed to be an awful lot of things that were redundant. But at some point, we got everything taken care of and got the loan. However, 4.9% interest is way too high so I applied for another loan to pay off the reverse mortgage.

    I also had to be counseled by some organization about reverse mortgages which costs $125. On top of that, the title people wouldn't listen to what Brett was telling them about a divorce that I had. They kept wanting to see a settlement agreement which was part of the divorce where all that information was provided but they kept saying they needed more. Brett finally said they were not going to get any more and it was either they get involved or not. All in all, this reverse mortgage process was very frustrating and I do not recommend it to anybody.

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    Verified Reviewer
    Original review: Oct. 8, 2017

    Finance of America appeared to be very competitive with their pricing in comparison with other companies that I talked to so I chose to have a reverse mortgage with them for my retirement. I had other offers from other agents and when I compared the pricing and showed it to the other agents, Finance of America beat them. The pricing came up well since Finance of America brought a lot of money to the table and that made it compelling for me to go with them.

    William, the loan officer that I spoke with was very agreeable with everything. He was very nice and pleasant up to the point where I spoke to him about the appraisal. He said that they would take care of it and that they would pay for it, which was great. However, when we finished, they charged me for it. They lied to me and that pissed me off. Maybe he didn't mean to or it was a mistranslation of what he was saying, but I decided not to talk to him anymore after that. Other than that, the process was decent. They were very quick and responsive. It took a month from when I reached out to them up to when they were able to finalize. I was still hesitant so I researched, checked things and nothing was lag on their part.

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    Finance of America Reverse response

    Steve,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that William was very nice and pleasant during your reverse mortgage process. We apologize for any miscommunication on our end about the process. If you ever have any questions, don't hesitate to contact William or a Finance of America Reverse Representative.

    - FAR

    Resolution In Progress
    Verified Reviewer
    Original review: Oct. 5, 2017

    My loan officer, John, was very professional with the way he dealt with my situation that's why I went with Finance of America Reverse. He went over and above to make the deal happen. My son did the painting on the side and I did more painting than was necessary. But when they gave me the money, there were some discrepancies in the paint which I had done about a month ago. The inspector came out and inspected it but he didn't tell me if he approved it. He just took pictures. But I'm entitled to a reimbursement of $1,375 excluding the fees for the guy who came for the inspection.

    So I sent them a letter stating that I want a check mailed to me but I never received it and nobody contacted me since then. I complied with everything they told me to do and I should be reimbursed. I called them last week about it and it was hard to get a hold of anybody. I was on the phone for a half hour to 45 minutes to reach anybody at their office or experiencing long wait times. Then they said they didn't get the report from the guy who came out doing the re-inspection of the paint.

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    Finance of America Reverse response

    Rocco,

    Thank you for expressing your situation on Consumer Affairs. We are so sorry to hear that you have had some issues with your reverse mortgage. Someone will be in contact with you shortly to get a better understanding of what happened. We appreciate your patience through this process.

    - FAR

    Verified Reviewer
    Original review: Oct. 4, 2017

    I needed some cash to work with for maintenance on the house and it seemed like Finance of America Reverse was the best one to work with. I got pushed in the right direction. The only thing was that the original estimate that they worked on was based on a two-year-old tax estimate on the value of the home which was over $300,000. I told their rep that the way things were right now the best estimate would have been around $285. I ended up actually passing it at around $290. They were comfortable to work with, friendly and not too pushy. I would recommend them to a friend.

    Finance of America Reverse response

    Ted,

    Thank you for leaving a review with Consumer Affairs. We're appreciative of the opportunity to serve you and are happy that you experience with our team was comfortable and friendly. Thank you for you recommendation.

    - FAR

    Verified Reviewer
    Original review: Oct. 4, 2017

    My house is just a stack of lumber and all my relatives are deceased but I'm not going to give the house away. I'm spending for the house and there should be enough left in equity over the years. I did a mortgage of $9,000 with Finance of America Reverse and they paid that out. I tried another company first but it was a horrible experience that lasted almost a year. I'm smart enough to know what was going on in the first place and I could tell if there was something right off the bat.

    There are land grabbers and they want your house for nothing. When they sent out an appraisal, they had houses that were facing huge three-way fences and it was just a bad experience. It's all done though I'm content and life goes on. I researched different companies and Finance of America Reverse popped up. They sent me a representative that was from White Bear Lake. I live in St. Paul and we had something in common right off the bat being from the same part of the state. Their loan officer was the best too and I had a good experience.

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    Finance of America Reverse response

    Patrick,

    Thank you for leaving a review with Consumer Affairs. We're so sorry to hear about your bad experience with another company, but very happy that we could make it right and guide you through the reverse mortgage process. It's great that our loan officer was able to make sure you had everything you needed. We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Resolution In Progress
    Verified Reviewer
    Original review: Oct. 3, 2017

    We started the reverse mortgage process because my husband had to retire for medical reasons. He was just not able to work any longer. Our income and finances suffered greatly. We gave Fareverse mountains of paperwork, in some cases twice. Went through their counseling process, etc. Then it seemed that the process stalled. Every time we called for an update, there was no news, or they needed more information, which we had already provided. I feel we were strung along for no reason. We were stressed to begin with, and this just continually added to our stress. This process went on for 5 months, until my husband couldn't take it any longer. He finally said, "Give me an answer or we are done". We never received an answer. It seemed like they didn't care at all. Unanswered calls, emails, and texts is not an encouraging endorsement to a company.

    Finance of America Reverse response

    Sherry,

    We appreciate you taking the time to express your situation on Consumer Affairs. We are terribly sorry for any miscommunication and problems that you have had. Someone will be contacting you in the near future to review your situation and get a better understanding of how we can correct the issue.

    - FAR

    Verified Reviewer
    Original review: Oct. 3, 2017

    I weighed all my options and saw how my income was. I hadn’t been able to save what I wanted to so I figured a reverse mortgage was the best option out for me. By doing a reverse mortgage, I got a monthly payment that would help me out. And the reason I chose Finance of America was the agent seemed to be willing to help me. He was more honest about what he was saying, like what would happen and how to go about it. He broke down to me the different options I had, laid the plans out, and gave me a chance to see which one would better suit me. I had one company that I dealt with and they weren't upfront with me with everything.

    Finance of America Reverse response

    Eddie,

    Thank you for leaving a review with Consumer Affairs. We are happy that a reverse mortgage fit into your retirement plan. It sounds like you had a great rapport with your loan officer about all of the ins and outs of the reverse mortgage process and any questions you may have had. We appreciate the opportunity to work with you.

    - FAR

    Verified Reviewer
    Original review: Oct. 2, 2017

    My mom and I lived together and the house was hers. When she passed away, it wasn’t paid for about half-way. She had more income than I did and there was no way that I could make the payments on it. Sadly, I knew that I would have to sell it. A friend gave me Finance of America Reverse's phone number and told me that I should check them out. I looked into a reverse mortgage and I decided it was perfect and was the best move for me because I don’t have any siblings, any children, a husband, and nobody to leave anything to. I thought about moving at one time, but then I decided that I know this house. I love the neighborhood. I have good neighbors and I feel safe here. The house was in good shape and what’s been done to it.

    Kevin, the loan officer, was helpful and patient. Whatever problem or question I had, they were right on it. If he didn’t know, he would ask somebody else and call me back. I couldn’t have asked for a better experience than I had with them. I had no problems with them at all. Kevin even found me a local attorney to go through the process when I found out that I still had to go to court. It turned out that the guy that he found was highly recommended and highly thought of up here. So, they definitely went across and did everything that they could to help me.

    Even the guy who did the closing said he had heard nothing but good things about the company. He told me that, in a couple of years, he and his wife also planned on doing a reverse mortgage and that they were planning on using Finance of America Reverse. So, that made me feel good too. It was an all-around good experience. Everybody I talked to in the company was helpful, understanding, and patient. They were fantastic. I'd recommend them to anybody that’s in the same situation that I was in.

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    Finance of America Reverse response

    Judy,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that Kevin was so helpful and able to walk you through the reverse mortgage process smoothly and that it was an all around good experience. We appreciate the opportunity to serve you and your recommendation of our services.

    - FAR

    Verified Reviewer
    Original review: Oct. 1, 2017

    I've got a lot of equity in the house and I wanted to use it. I went with Finance of America Reverse and my interaction with their reps and the guidance that I got was excellent.

    Finance of America Reverse response

    Robert,

    Thank you for leaving a review with Consumer Affairs. We're happy that your guidance and interactions with your loan officers was excellent. We appreciate the opportunity to serve you.

    - FAR

    Verified Reviewer
    Original review: Sept. 30, 2017

    My husband is 83 and wants to retire. We plan to stay in our home and it's good for the long haul for us. Our mortgage payment is a significant factor in our retirement income which is fixed. Lowering expenses would eliminate the mortgage and having a reverse mortgage seemed like a good way to start. I sent out fillers to different companies via email but we changed our minds. So I emailed all these people and thanked them for their time because we decided not to do this.

    The one and only rep who called me on a Saturday morning spent time and went the extra mile. He said, "I would like to talk to you more. You might have misunderstood certain things.” I've learned that there's only so much a reverse mortgage can do based on certain immutable facts. The competition is between companies that offer the best service and the best credit rate. I laid my fears and went with Finance of America Reverse. It was excellent and all of our questions were answered. I've already recommended them.

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    Finance of America Reverse response

    Sharon,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that you decided to make a reverse mortgage part of your retirement plan. We're happy that your loan officer was able to go the extra mile for you and make sure that every part of the reverse mortgage was explained. We appreciate your recommendation and the opportunity to serve you.

    - FAR

    Resolution In Progress
    Verified Reviewer
    Original review: Sept. 30, 2017

    We have a nice house which we just had repainted and we asked our kids if they would like to have it 'cause we're getting up in age. But they have their own house and they didn't want to be responsible for mine too. I figured that through a reverse mortgage I'll get something out of it then let it go and whoever wants to pick it up at the end can sell it and do whatever they want to do with the money.

    We've been hearing about Finance of America and when they sent an appraiser out here, they told me the amount that my house was worth. But he didn’t do a good job looking at my house sufficiently. He went down the basement and didn’t know that I had a bathroom down there. Then he put that we didn’t have things including a fence when we had a brand new one around the place. I only got $25,000 and it wasn't enough.

    Our house is near an area where it's not so good and the appraiser wouldn't give us the highest amount. So I did not get what they promised me after I paid. If they would have turned it around then sent the appraiser first so I could find out how much this place is worth, I would have thrown it out the door. The guidance we received was nice. Everybody there got a $1,000 out of my money but I did not get any money. We took $5,000 to see but we don't even have enough to go for a trip on a train that I wanted. If they would give me a free train trip, I would be satisfied and in that way, they could make things right at least.

    I had to stay in the process because I didn't know how to get out of it. We placed the contract for 18 months. But they gave me money that I didn't have to touch. I had it put in a bank that collects a little higher interest so my money is working and I could get some money to use. But they ought to go back again and tell me how much this house is worth. I'm dissatisfied and I want to sue them for false representation.

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    Finance of America Reverse response

    Richard,

    Thank you for expressing your situation on Consumer Affairs. We are so sorry to hear that the process did not go the way that you expected it to go. A representative 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. We appreciate your patience.

    - FAR

    Verified Reviewer
    Original review: Sept. 29, 2017

    Finance of America was excellent and they were easy to work with. They gave me enough information and if I wanted more, they would give more. Also, their loan officer was very polite, helpful and knowledgeable. The process went smoothly as well and it was done before we even realized we started. They made me feel very comfortable with what I was doing. They did an awesome job and I would recommend them.

    Finance of America Reverse response

    Donald,

    Thank you for leaving a review with Consumer Affairs. We're happy that you were able to get all the information you needed and that the process of working with our team went smoothly. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified Reviewer
    Original review: Sept. 28, 2017

    I needed to do a reverse mortgage for my mother. She has problems with her medical condition, so I have a Power of Attorney for her. I went to a lot of different companies and got four quotes. It did not work out with my first choice since they don’t deal with a POA. Then I heard of Finance of America Reverse from Consumer Affairs and we were able to work it out. I had tons of interaction with the loan officer. The basic issue was I had to establish with letters from doctors that my mother was capable of signing the POA that was recently enacted but she would not able to handle the reverse mortgage later on.

    The loan officer worked with me to get that approved. Then we hit another stumbling block later on. It turned out that there was a lien on the house that my father had as part of his divorce to my mother. I had to find him and work that out with him to get that lien paid. All in all, the whole process took about eight months. Right up until the end, I was very dissatisfied because, when the reverse mortgage finally got to the point where it was financed, the loan officer wouldn't return my calls anymore and I had a few questions. I didn't know that our case was being taken over by another group.

    Overall, that experience was a nightmare, mostly due to the regulations that the government has set up for a reverse mortgage. The POA needed to get established as valid and that took six months to do. I had a lawyer that did the POA and he signed off that my mother was competent to do it, and that should have been good enough. I also got a letter from the doctor saying that my mother was competent enough. But still, Finance of America Reverse wouldn't let me do the reverse mortgage for my mother because they said she should be able to do that herself. But the fact is that a reverse mortgage is 20 times more complicated than a POA. I could go back 20 years and my mother wouldn't have made it through the counselling session which was so complex. I was quizzed in a call lasting an hour and a half on my detailed knowledge of a reverse mortgage and that was ridiculous.

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    Finance of America Reverse response

    Tad,

    Thank you for leaving a review with Consumer Affairs. We're happy to hear that our loan officer worked with you to get over all the road blocks in your experience.Reverse mortgages have many regulations in place to make sure that all parties (including the borrower) are protected. If you ever have any questions, don't hesitate to contact your loan officer. Thank you for allowing Finance of America Reverse the opportunity to serve you.

    - FAR

    Verified Reviewer
    Original review: Sept. 28, 2017

    I needed a reverse on my credit and Finance of America were well-known. I contacted them first and I got some good information, so I went with it. My interaction with their loan officer was excellent. She was very explanatory, patient and knowledgeable. I felt comfortable about it. It's critical because I didn't know much about all these and she walked me through it. It has gone well so far. They’re a helpful and good company.

    Finance of America Reverse response

    William,

    Thank you for leaving a review with Consumer Affairs. We're so happy that your loan officer was excellent and very explanatory about the reverse mortgage process. If you have any questions about your reverse mortgage, don't hesitate to call.

    - FAR

    Resolution In Progress
    Verified Reviewer
    Original review: Sept. 27, 2017

    I needed a reverse mortgage. I had two providers trying to get a hold of me and I liked Finance of America Reverse's rep whom I talked with. He was better. He was also knowledgeable and very friendly. Getting the mortgage with them has been very simple to do.

    Finance of America Reverse response

    Billym

    Thank you for leaving a review with Consumer Affairs. We're happy that you hit it off with your loan officer and were able to easily go through the process of a reverse mortgage. We appreciate the opportunity to serve you.

    - FAR

    Verified Reviewer
    Original review: Sept. 27, 2017

    We needed a roof immediately and some other things for the house. We also wanted to start some kind of a savings account. The guy from Finance of America was really nice and he explained everything to me. He would call me and talk to me about what's coming up, what I have to do with my paperwork and how to do it. I like dealing with them. I had to talk to another mortgage company first, and they came up with things that I couldn't do, so I told them to put it on hold. So, when I talked to the guy from Finance of America, I told him what the guy from the other company told me, and he said that I don't have to do it.

    Finance of America Reverse response

    Ronald,

    Thank you for leaving a review with Consumer Affairs. We're very happy to hear that your loan officer was was really nice and able to easily guide you through the reverse mortgage process. If you have any questions, don't hesitate to reach out to you loan officer.

    - FAR

    Verified Reviewer
    Original review: Sept. 26, 2017

    I was very fortunate to have Robert ** handle the process of obtaining a Reverse Mortgage for me. Mr. ** should be commended on his professional demeanor. He kept me advised as the process proceeded. He was so pleasant and helpful. I know that he was dedicated to assure that I obtained the Reverse Mortgage that I so desperately needed. I can never thank him enough, for his tireless effort on my behalf. I would most assuredly recommend him to my friends.

    Finance of America Reverse response

    Jan,

    Thank you for leaving a review with Consumer Affairs. It's great that Robert was able to guide you through the reverse mortgage process. We appreciate your recommendation and the opportunity to serve you.

    - FAR

    Verified Reviewer
    Original review: Sept. 26, 2017

    Our 401K money was getting low and I still needed to have our house painted and the landscaping done. Since we had no intentions of leaving the house, I thought of getting a reverse mortgage. My husband was sick at that time and if anything ever happened to him, I would have a very difficult time staying at our house. When he got out of the hospital, I told him that we needed to get a reverse mortgage so that we won't ever have to worry about leaving our house and if something happens to him, I can live comfortably at our home. My husband knew that I was taking care of the whole reverse mortgage transaction. I have a real estate background so no one can throw any terminology about this at me that I didn't know or understand.

    I went online and searched for reverse mortgage companies, looked at the reviews, and got information from three companies. I also went to our financial adviser to let him know what we were doing and he thought that a reverse mortgage was a good idea for us. He looked at all the proposals and said they were all the same since the reverse companies were being regulated by the government. He told me to go with whoever I felt best talking to, so I went with Finance of America Reverse.

    The rep, Carol, was wonderful and kept in touch with me everyday. While other reps were more high pressured, she seemed like a good friend and I felt most comfortable with her. When she heard that my husband was ill, she called to find out how he was doing. Everyone at Finance of America was very efficient. They called and asked for documents, then I emailed these to them. We didn't even have to leave the house to go to a notary since they came with all the papers. We signed the papers and they left copies of everything we signed.

    Our loan closed a lot faster than I had expected. They didn’t have any closing cost, which was great. They even paid $75 for the appraisal and the appraiser was super nice. So, the only thing that came out of my pocket was the $150 for the counseling fee. My girlfriend also had a reverse mortgage and it cost her $800. She should have talked to me and I would have told her about my wonderful transaction with Finance of America Reverse. I was absolutely thrilled with the whole transaction and I would recommend them to anybody who’s considering a reverse mortgage.

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    Finance of America Reverse response

    Barbara,

    Thank you for leaving a review with Consumer Affairs and sharing your experience. It is great to hear that you chose a reverse mortgage as a part of your retirement plan. We are so thrilled that the process went smoothly and that you felt so comfortable with Carol. Don't hesitate to reach back out to your loan officer if you have any questions. We appreciate your choice to work with Finance of America Reverse and your recommendation of our services.

    Verified Reviewer
    Original review: Sept. 26, 2017

    I had been very disappointed by another lender as they were trying to do reverses but their personnel was lame and I was getting conflicting information depending on who I talk to. So, I responded to a blurb on Facebook that I wanted to get more information and Finance of America Reverse was the first one to respond. When their rep, Chris called me, I quizzed him strongly on the subjects that I was interested in and he had the answers to everything. He was extremely knowledgeable with a great personality and I felt like we were friends when we were going through all this.

    I was quick on his request so, the process moved as fast as it could. I explained to him that at the same time, I was finishing the addition to my house, which was going to help with the appraisal because it was adding quite a bit of square footage. Chris was a very good manager of this whole project. He was quick to follow up on any glitches, anything where I felt like it might be a problem arising. He was quick to get it straightened out. I've got one statement that didn't come and I had to call them to ask for a copy, which they actually emailed me, so I was able to download, print, and put it in my file. I got one over the weekend so they're right on schedule this month. I tried to get my sister to go with Finance of America too.

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    Finance of America Reverse response

    Edward,

    Thank you for taking the time to leave a review with Consumer Affairs. It sounds like you and Chris hit it off from the start. We're happy that all of your questions were answered and that you were satisfied with the speed and diligence of your reverse mortgage process. If you ever have any questions don't hesitate to reach out to your loan officer. We appreciate your recommendation of our services.

    - FAR

    Verified Reviewer
    Original review: Sept. 25, 2017

    I needed work to be done on my house and I didn’t want to go into another bill, so I got additional information, read up on the reverse mortgage and went through quite a few companies before I ended up with Finance of America Reverse. They gave me excellent guidance in making my decision and after speaking with their rep, I felt at home. She was extremely pleasant, courteous and helpful. She's the reason why I stayed with them.

    Finance of America Reverse response

    Catherine,

    Thank you for leaving a review with Consumer Affairs. We're happy that you chose to work with Finance of America Reverse. It's great to hear that your loan officer was able to give you excellent guidance and make you feel at home. We appreciate the opportunity to serve you.

    - FAR

    Verified Reviewer
    Original review: Sept. 25, 2017

    I had a good experience with Finance of America Reverse. I've read about them in a paper, called them and I liked the people I talked with. They were knowledgeable and they explained to me exactly what a reverse mortgage was so I wouldn't make a mistake. Erika, the girl I dealt with, was very helpful. She knew exactly what she was doing. I would advise anybody that didn’t have children and didn’t want to leave their house to anybody to take the mortgage. It would give them a little more money while they’re here on earth.

    Finance of America Reverse response

    Dorothy,

    Thank you for leaving a review with Consumer Affairs. We're happy that Erika was able to walk you through the reverse mortgage process and explain all of the aspects of the loan to you. Thank you for choosing to work with Finance of America Reverse and your recommendation of our services.

    - FAR

    Verified Reviewer
    Original review: Sept. 24, 2017

    A friend told me about Finance of America Reverse. I chose a reverse mortgage as part of my retirement plan because I wanted to get the cash out. The guidance I have received from Finance of America Reverse in making my reverse mortgage decision was okay.

    Finance of America Reverse response

    Joseph,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that you chose a reverse mortgage as part of your retirement plan. If you ever have any questions regarding your reverse mortgage, don't hesitate to contact your loan officer at Finance of America Reverse.

    - FAR

    Verified Reviewer
    Original review: Sept. 24, 2017

    I got a reverse mortgage to give me extra cash. I didn’t have to have it, but sometimes I need drugs that I can’t afford. I have to charge and then make payments, which I didn’t want to do. I've also done some remodeling around here. Finance of America's loan officer was good, and everything went smoothly.

    Finance of America Reverse response

    Bill,

    Thank you for leaving a review with Consumer Affairs. We're happy that a reverse mortgage made sense for you and your situation. It's great that the loan officer was good and that everything went smoothly.

    - FAR

    Verified Reviewer
    Original review: Sept. 23, 2017

    I put a request online for companies that could handle my needs and Finance of America was in the middle in terms of closing costs, but I liked the lady that I dealt with so I went with them. They were prompt and provided the information right away. I didn't have to wait a week to get it. However, it took a little longer to get it closed out than they anticipated because there were people that they had no control over, like the appraiser, that didn't react as quickly as they felt they would.

    Finance of America Reverse response

    Yancey,

    Thank you for leaving a review with Consumer Affairs. We appreciate your choice to work with Finance of America Reverse. It is great that our service was prompt and provided the information you needed right away.

    - FAR

    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:
    8909 South Yale Avenue
    City:
    Tulsa
    State/Province:
    OK
    Postal Code:
    74137
    Country:
    United States
    Phone:
    (877) 405-0917
    Website:
    www.fareverse.com