Finance of America Reverse

Consumer Reviews and Complaints

Finance of America Reverse
(844) 336-1893
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(844) 336-1893
toll free
Call now for more information
Overall Satisfaction Rating
4.65/5

Based on 394 ratings out of 395 reviews

  • 5 stars79%
  • 4 stars13%
  • 3 stars2%
  • 2 stars1%
  • 1 stars4%

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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Finance of America Reverse

Hi Diane,

Thank you so much for leaving us a review with Consumer Affairs. We appreciate you working with Finance of America on your reverse mortgage and so great to hear that your received excellent care from your Reverse Mortgage Specialist!

-FAR

Original review: Aug. 24, 2016

I thought about reverse mortgage a couple of years before but I didn't get all the right answers I wanted. But when I talked to a young lady from Finance of America Reverse, she went through the whole deal for me and has done a superb job. Plus, the guidance from her was excellent. From the time I started until we got through, the process seems really fast.

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Finance of America Reverse

Hi Lelan,

Thank you so much for leaving us a review with Consumer Affairs. We appreciate you working with Finance of America on your Reverse Mortgage. Great to hear you had an overall great experience with your Reverse Mortgage Specialist!

-FAR

Original review: Aug. 16, 2016

I have a bunch of free money sitting on my equity on my house and thought I’d get some of it out. I was online, filling out a claim at LendingTree and Finance of America Reverse called me. Their interest rate was too high but the lady that handled it was pleasant and fun, and did all of her stuff right. However, whoever they sent to do the closing had to come back three times in order to get it right because they didn’t get all the right stuff signed. But I didn’t have to make an appointment. I told her where I was going to be and what time, and she came to meet me where I was. After that, before she left, she said sorry.

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Finance of America Reverse

Hi Patricia,

Thank you so much for leaving us a review with Consumer Affairs. We appreciate you choosing to with with Finance of America and are so pleased you had a wonderful experience working with Molly!

-FAR

Original review: Aug. 12, 2016

We previously looked into a reverse mortgage with another lender. We pulled out as they were hard to work with and not very friendly. No warm fuzzy there!! BUT a year later we found Finance of America Reverse!! They are top notch and Molly our loan officer was wonderful and friendly!! She helped us with everything and the process was quick and very informative. Love our loan officer she is awesome!! I give them an A++++ rating.

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Finance of America Reverse

Hi Jack,

Thank you so much for leaving us a review with Consumer Affairs. We appreciate you choosing to work with us on your Reverse Mortgage and pleased to hear that Bunny gave you such excellent customer service!

-FAR

Original review: Aug. 8, 2016

Finance of America Reverse, and especially Bunny **, their Mortgage Specialist, made my day. There is one heck of a lot of paperwork in submitting an application and in closing on the loan but Bunny ** was always there to straighten me out and answer all my questions, and she always did it in a friendly and courteous fashion. It is nice to do business with someone friendly, and knowledgeable as well!

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Finance of America Reverse

Hi Clifton,

Thank you so much for leaving us a review with Consumer Affairs. We appreciate you choosing Finance of America for your Reverse Mortgage and pleased that you have a great experience working with Ellen!

-FAR

Original review: Aug. 5, 2016

Our house was bought and paid for, so our money was sitting in equity and we wanted to see what kinds of avenues were out there to get a reverse mortgage. Ellen, my agent from Finance of America, was exceptional. She got everything done right away, and she was very business-like and pleasant to work with. The counseling also went very well for us and they explained pretty much all the reverse mortgages, the do's and don'ts and the good and the bad. They were very thorough and got the job done.

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In applying for a reverse mortgage, Joseph **/FAR assisted and worked non-stop until everything was completed as planned. There was a period when Mr. ** was out of the office but maintained full contact at all times. He knows his business, is personable and trustworthy in all he projected. It was a pleasure working with him and FAR.

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My retirement income does not meet my needs so I chose a reverse mortgage as part of my retirement plan. I've spoken with so many people at Finance of America Reverse and my experience was pretty positive. However, it was kind of a lengthy process and it got a little frustrating at times. But overall, it was satisfactory.

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Reverse mortgage is part of my retirement plan. I have more medical bills than I can deal with. I've spoken to a different company but went with FA because of the person I spoke to on the phone. She's the loan officer and was real nice and very willing to answer questions. I didn't get this nice warm, fuzzy feeling from the other person. However, I got the impression that FA was going to service the loan as well, and apparently it's not. I'm very uncomfortable when things change between the entity that gives the loan and the entity that services the loan because I've been badly treated by a loan servicer in the past. When a company turns the money over to a servicer, you just don't know what you're going to get. I need to give it a longer chance to see what's going on, but I was very disconcerted by the letter I was sent and the hoops I was put up with. I was not happy with that.

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My wife is 82 years old and has Parkinson's disease. I didn't know how much medical bills we're gonna end up with but I knew that $700 a month off of paying Chase Bank, which I always hated doing anyway, would really help out. So I did a reverse mortgage plan with Finance America Reverse. I'm trying to set aside some of that every month for taxes. As long as I can keep those things going, I think everything should work out fine. Reverse mortgages are not for everybody, but I think it was just what we needed.

My experience with Finance America was all right up until I got a letter saying something about a $180,000 loan. I got in touch with them but they said that they don't send out pink papers. I must have gotten it mixed up with the RSS. I left a word about this for Olivia, the girl that set up the mortgage, but I haven't heard back from her yet. But other than these, everything is fine. Their loan professionals were excellent as well. They were helpful, polite, and courteous - they couldn't have been any better.

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One of the underwriters wanted me to disconnect my sink and take out the gas stove in the cellar which bothered me because it was all money spent for nothing. However, for some reason, I took a liking to the guy from Finance of America Reverse that answered the phone because he was helpful. I decided to stick with this guy because he knows what he's doing, though it always takes a long time, but it went through, so the experience was alright.

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I got myself in a pinch and I've lost my wife and lost a lot of income. I continued to live on a same plan. It looked to me like getting a reverse mortgage was a wise move, instead of just borrowing more money that I have turnaround pay for it. This way I could pay off most of my debt and get down where I'm comfortable with my income. Finance of America Reverse was the first to call me. I was very impressed with the young man, Thompson, with as much as anything they have. And so that's why I went serious with one other rep, and then I talked to a couple of others. But they didn't turn me on at all, so I went back to Thompson. Everything is fine to date. The bill is paid off. But the only thing that bothers me a little bit is I had some repair work to be done, minor stuff. I told them upfront that I do my own work. But I was not going to do it in the heat of summer, and that was okay. I'll probably get it done yet this month because it's finally cooling off.

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After recently closing on Reverse Mortgage with Finance of America, I would like to thank our representative, Jamie **. She is the Ultimate Professional, spent many hours on the phone with me answering endless questions with patience & impressive knowledge! She is absolutely the reason we chose Finance of America. Just cannot say enough about how much her true interest & concern for our particular situation helped to walk us through the process from start to finish. Thank you so much, Jamie for everything you did to help us! I will always consider you a true friend!!

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We had two issues. First was our limited income, because the mortgage was too high for us at this age. Second was the fact that I had a lien for an IRS, that I wanted to do a reverse mortgage to pay both of them off so I could get them off my credit record. I went through bankruptcy in 2003 and even though we kept the house, I still finance it. I put on my credit as a lien, so I wanted both of the liens off my credit report. Nobody bothered to call me back, and then Finance of America Reverse called me.

Following the phone calls, there was a lot of paperwork. Even though Tracy left, John took over her place. He kept in touch with me every day on what was going on. The paperwork was astounding but necessary. We're dealing with a great company. Finance of America Reverse was very straightforward and honest, which was what I liked about it. I heard a lot of bad things about reverse mortgages, and I'm very happy with what we ended up with. They were very friendly, courteous and they kept me very informed.

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Getting a reverse mortgage seemed to be the best option at the time. Everything went fine with Finance of America Reverse and Scott, the loan officer, did a good job.

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I didn’t have any money, so I looked into reverse mortgage and went with Finance of America. My loan officer was nice to deal with. My experience with them has been all right.

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I was not aware that there is an amount of money that I had to pay the government, and I cut myself short on money that I might need for extra things. I then looked into reverse mortgage and went with Finance of America. My loan officer, Nigel, was excellent. He called me often and very promptly. When I called him, he called me right back. He made the process go extremely well and very smoothly. They came to me in the hospital, and I signed the papers while I was there. They’re good. My experience has been fantastic.

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Finance of America Reverse was recommended to me. They're a loan company and a reverse mortgage looked pretty good. My loan officer followed up well on everything. In his type of work, he's probably the best that I've ever had for anything.

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When I checked Finance of America Reverse online, they were the only one that didn’t have a lot of negative feedback. The rep I spoke to was polite and straight to the facts. The guy they sent out to do the paperwork and everything was so knowledgeable because he had a real estate background. He explained a lot of things to us that even the other guy didn’t. He told us we were getting a good deal. And for him to say that when he worked with all of them, not just the one, was a good thing. It was a delightfully complete experience.

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I’ve been retired for three years and I didn’t want to continue the rest of my retirement living the way I was. So I started looking into reverse mortgage and seen who I could deal with. I started dealing with somebody else and decided shortly that I should get behind Finance of America. There was good communication with my loan officer. He answered emails, left a message and called me back right away which is one of the reasons why I didn’t do it with somebody else. Others will get back to me two days later, so I don’t do business with them. I’m completely and totally glad I did it with Finance of America Reverse. I've recommended them.

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We lost a lot of money in retirement funds when the stock market crashed so we decided to do a reverse mortgage, and our experience with Finance of America went well. Kevin, the loan officer, did a good job and we didn't have any kind of problems. I was really satisfied.

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It was really helpful working with Finance of America Reverse. My wife does a lot of research on things and they have the top stars. We got tied up a couple of times. One was on the appraisal, but then the appraisal people were really nice. They came out and acted out really quick. Overall, although it started a little slow in a couple of spots, it was a really good experience.

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I was on a fixed income and having a reverse mortgage was the only thing that was gonna help me get above of where I was at in order to be able to fix my house again. Finance of America gave me the best deal and I really liked Chris, the guy who worked with me, since he's awesome. I’m still receiving guidance and he calls me once in a while to see how things are going. I’m even supposed to be talking to him later today because I got my first statement in the mail. He wants to review that with me and tell me the ins and outs and what not to do, so he’s cool.

It took us a while because we started in January and closed in July, but he never gave up, kept up with it, and was on top of it the whole time. He was really nice and real attentive. I didn't know a lot about financial situations so he took my oldest daughter’s phone number, called her, and explained what I was trying to do. My daughter told him she didn't want anybody ripping me off and he replied, “Nope, that’s not what we’re about.” He was very, very cordial and thorough with everything. It was a great experience and I learned quite a bit.

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My father did a reverse mortgage before and made out really well. This was during the Clinton days and everything was booming. My brother who was a financial advisor was helping him out. 15 years later, my brother said to him, “Hey, look at you. You’re starting to run low on money here with the reverse mortgage. Let’s go back in and see if we could refinance.” They went back in and gave him the same amount of money that he originally got for the 15 years. He got a whole new 15-year policy at the same money because the value of his house has gone up that much because things were so good in the day. But that was only like a one-time shot. Now, the guy I worked with from Finance of America Reverse told me that I could do the same thing. Any year things look good, we could refinance and maybe get more money in there.

I’m only two months into it but I did get my first two checks. The other guy that I was dealing with was fantastic, friendly and understanding. He led me through it since I’m not very good with this clerical stuff. He gave me options and different ideas and scenarios which helped me a lot. Practically everyone I dealt with were very nice, accommodating, and almost sound like I could trust them.

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Finance of America Reverse

Hi Victoria,

Thank you so much for leaving us a review with Consumer Affairs. We are so pleased the the Reverse Mortgage was able to make such a positive impact for you and that Mark gave you excellent service. We appreciate your business!

-FAR

Original review: Sept. 1, 2016

I looked into a reverse mortgage because I want to retire. I have social security and a small retirement from the school, but it’s not going to be enough to live on, especially with the utility bills. So, not having a house payment meant so much, since every month now, I’m putting money back into my savings from my insurance and taxes, and it still gives me over $200 to have on my to-do list. My experience with Finance of America has been excellent. Mark, the young man that led me to it, was excellent in every way all the time and answered all my questions every time I called him. He might have gotten sick of the telephone calls, but he never acted like it.

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Finance of America Reverse

Hi Carl,

Thank you so much for leaving us a review with Consumer Affairs. We appreciate you choosing to work with Finance of America Reverse and are so pleased that you had a great experience!

-FAR

Original review: Aug. 31, 2016

My house was paid off and I wanted the money for my wife so she could pay the taxes in case something happened to me. The Finance of America Reverse loan officer seemed to know what he’s talking about. I knew when I paid the house off and that I wanted to go with the reverse mortgage so he didn’t have to convince me. They just took care of what I needed. So far it’s been exactly what they said it would be and we haven’t drawn anything out but they're sending me a bill saying how much I had in there. They are very nice about it. I had a hospital stay-in and have put them on hold for a while for about 15 days or so. They’ve done very well and the only thing that I requested is the amount that I asked for upfront. It was there when they told me it’d be there so I’m really satisfied.

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I thought it was a good idea to have a reverse mortgage. The loan officer from Finance of America Reverse was nice. I'm happy with my experience and I would recommend them.

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We thought having a reverse mortgage was something that would make life easier. So we got Finance of America Reverse because they have got better ratings in the Better Business Bureau. The loan officer, John, and another one helped us a lot along the way so we understood what was going on. Overall, they are pretty good.

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The loan officer from Finance of America Reverse worked diligently to get the loan for us. That’s big a plus for me because the first company I called never got back in touch with me. However, I still have an issue with Finance of America. I really would like to get more information and it just seems as if the information I was looking for was not forthcoming. Some questions were not answered yet. The loan officer said he was not available, but he would get the VP to try to answer the question for me and I haven’t heard from anyone since then.

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Finance of America Reverse

Hi Juan,

Thank you so much for leaving us a review with Consumer Affairs. We appreciate you and your mother choosing to work with Finance of America Reverse and great to hear you had a great experience!

-FAR

Original review: Aug. 27, 2016

My mother and I had been inquiring for some time about what exactly reverse mortgage was and we decided to look into it a little bit further. I got her one from Finance of America Reverse and the loan officers there have always been very helpful. They were good in explaining and answering any questions we had throughout the process. They have good customer service.

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Before applying for a Reverse Mortgage I searched the Internet. I didn't know where to go. I talked to 5 different companies, some were pushy, some didn't seem competent. Several of the companies had reviews with horror stories. I found Finance America, I couldn't find any negative reviews so I started talking to them, my contact was David **. I have bought several house in the past. So I have experience with lenders and mortgage companies. This company is the best I have ever dealt with and especially David **. David was with us 100% of the time, always helpful and with concern for us. I applied for the reverse mortgage with Finance America around July 27th and we will fund on August 26th. My many thanks to David and the FA crew.

Expert Review

Michele LernerMortgage & 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.    More about Michele→

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.

Finance of America Reverse Company Profile

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