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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The whole process with Finance of America Reverse was better than I could have expected and I was very surprised that it all went so good. It was just a notary each time. However, Finance of America hired an agency to explain the process. I had a problem with the notary on the day that it occurred and I tried to accommodate the notary by changing the time. Unfortunately, I was not able to get a hold of my aunt in time and we ended up going back to the original time. The notary was quite rushed, but I conveyed that information to Nicole, the loan officer, and she gave me the information. The closing notary was terrific and Nicole made sure that she would not be there for the closing.
I sat down with Nicole each part of the process. She was outstanding, very professional and honorable. I was very appreciative of her help. She did everything that she said she would do. She rectified any little glitches in short order and made it run really smooth. She even did better to the time duration she said. The rates kept constant and everything was always positive. I’ve told various people that Finance of America did a great job. In fact, we went to a debt counseling and I passed on to them a recommendation. Nicole was very happy to get a good recommendation from nondescript people.
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!
We're delighted to hear your feedback about Amber. She certainly embodies our core values here at Finance of America Reverse, LLC. Amber, and our entire team thank you for taking the time to share your positive experience.
Somebody else from another company called and went over a lot of the figures over the phone with me. But Finance of America Reverse immediately sent me a read-out paperwork through FedEx with all the figures so that I could actually have them in my hand and go over them by myself rather than just talk to somebody over the phone about it.
The rep was very congenial and he had instant knowledge of every question I would ask. He assured me that everything was on the up-and-up. He was very easy to talk to and he didn’t seem like he was holding anything back. It seemed like everything was the way it should be. A couple of big packages of paperwork were involved but the process went about as smooth as I could expect it to be considering that we were doing it by distance. I’m in good financial shape and everything’s working out really good right now.
Ken, thank you for taking the time to share your positive experience using Finance Of America Reverse, LLC to obtain your reverse mortgage. We genuinely appreciate it and we're glad to hear that you are enjoying your new financial confidence.
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.
Stephen, we are so happy to hear that your prior experience with Finance of America Holdings, LLC helped to steer your decision to go with Finance of America Reverse, LLC to fill your reverse mortgage needs! And Toby, way to make the corporate office proud! Thank you for taking the time to share your experience. We aim to provide the best service to our customers!.
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.
Richard, we're delighted to read your feedback about Nicole and your positive experience with Finance of America Reverse, LLC. We aim to provide the best possible experience for each customer. We are happy to have been able to help you have the means to refurbish a home that obviously means very much to your family. It's been a pleasure and a privilege to do business with you.
Finance of America Reverse was right on top of everything. I had a lot of questions and their rep answered the questions. The process was like buying a house all over again, with the credit reports and papers filed. It took a couple months, but most of it was because I couldn’t find the paperwork. If I could’ve found the really old paperwork earlier and quicker, it would've been faster.
I was considering another lender along with Finance of America Reverse, and though Finance of America came second, their sales guy was the first to roll himself out very quickly. So, I was happy with him. They were willing to negotiate based on the quotes that I was getting from the other company. Also, the law says you have to have a counseling appointment with somebody, and I called that guy back later to get some guidance from him. He helped me through the process. By the time we got through the process, I ended up with a much better offer compared to the first quote that I got. I'm not a big fan of lenders at any time, but Finance of America didn’t seem to be too bad.
We got the whole thing done in under six weeks, which was fairly quick. They sent a notary type person out when I did the application, and then we did the appraisal. It got slightly delayed because they were giving me quotes based on being age 70 and I'm only 69. They told me that it's whichever birthday I am closest to, and so I opted to wait until after October 20th to make sure I was qualified for being 70. Unlike a lot of salespeople, the guy that I was working with didn’t exaggerate things too much. He was honest, and even though he works normal business hours, he gave his number in case I had an issue on the weekends. So, I was quite pleased with his service. I would recommend Finance of America.
This is a new product. It's a second mortgage reverse allowing us to take money out of the principal in our house without refinancing. Lots of paperwork, very complicated requirements etc. It was made easier by Monica ** helping us and giving us the information we needed. It was an above board operation, with few surprises.
My experience with Finance of America Reverse was very positive. I liked the guy I was dealing with. He was very personable and followed up a lot. He answered all my questions as well. I wish the rates were lower though, but that’s about what I expected it to be.
I got some bills I need to get caught up with and I had a high mortgage. I looked at a list of providers and I picked out Finance of America Reverse. I called them, talked to Aaron, and he took over from there and explained everything to me. I had good interactions with the loan officer and I was were impressed by the whole thing. Everybody I talked to seemed to know exactly the answer to every question I had. They all seemed like they really knew what they were talking about. The rate and terms of the reverse mortgage were good and I like the rate. Hopefully, I'll keep liking it too. Working with Finance of America Reverse took a lot of stress and worry out of me and I feel a lot better since I did that. I've no regrets. They did a lot for me. I like them and I think others would as well.
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I called a couple of lending companies, but as soon as I talked to Caroline from Finance of America, I knew she was the one I was gonna do business with. She sounded so personal and friendly. The application process was very simple. I just had to share to them how much we made and our bills. Caroline explained everything to where we could totally understand it, and that’s what I appreciate. She was always available for us at any time. We're very happy with the mortgage rate and terms that we received. Working with Finance of America definitely made out life better. We were able to pay off our bills with the loan that we got.
We needed backup cash in case there’s a medical emergency. Ernie from Finance of America Reverse was a good salesman and provided all the answers. On the other hand, other companies didn’t even bother calling back. With Finance of American, the process of obtaining the mortgage was easy. There was a lot of paperwork. Still, the process was completed within three weeks. The rate was a little higher than I anticipated but it was within the range. Working with Finance of America Reverse turned out well.
I had my foundation repair back in 2014 and I paid around 8,000. When the appraiser came out, he noticed that I had a foundation repair and they wanted me to have Jericho Foundation to come back out here. I sent them the copy of my receipt and they saw that I have a lifetime warranty. When Jericho came out, they said that they did whatever was under the lifetime warranty, but they also said the house has shifted some. They had to do something else that was not under the warranty, so that made another expense of around $5,000.
I had to make repairs outside my house with my money that I had. I had to do my eaves, for my homeowner's insurance purposes, and the roof. I had to pay cash, so all of my savings was gone and I was worried about paying the back taxes. When Jericho Foundation gave me the bill for $5,000, I didn’t have the money, so Finance of America Reverse paid for it. I paid for my counseling fee and there was also something else they wanted me to pay for. I appreciated that Finance of America did what they could, but it seemed like it was a rip-off to me. They changed the homeowner's insurance. The homeowner's insurance I had was reasonable, but Finance of America said they needed to call and had it taken out. I was pressed for time and I just went on and did the reverse mortgage.
However, I’m not able to do anything with the things that I had thought I could do or redo in my house. I know other people who have done a reverse mortgage and they got extra money even though their houses were in worse shape than mine. If I start telling people what I did, they would say that they wouldn’t have taken it. I also wouldn’t have taken it, but I had to go through a lot of procedures, so I just said that the back tax will be paid and that’s what I’m most concerned about. They paid my back taxes of $8,000 and now I can live in the comfort of my home.
I just felt like it was an expense that I did not need at that time, and it was like they wanted me to do as much for my home as I could so that when I died, they wouldn't have to do that much. That left a bad taste in my mouth. I was really upset. I will not recommend them to anybody. A friend of mine is doing her reverse mortgage, but I gave her another company, the number one company, and I told her I wish someone had told me about them before.
I was recommended to Finance America Reverse by the HUD people in my city. I was four hours away from foreclosure and it could have been a real tragedy but the girl who I worked with, Amber, was an angel that fell out of the sky. She handled everything and she was magnificent. She's tough, adorable, and a pro. She knows what she's doing. The process started when I got the first notice of foreclosure and then it took a month or so only because we kept hitting bumps in the road. The rate and the terms of the mortgage were all fine. While I had no other options, it worked out perfect for me. Now, and I'm safe and warm in my house.
A friend recommended Finance of America Reverse and the application process was concise. They took the time to explain any questions I had to the best of their ability and the explanation was done quite well and in-depth. I worked with people who came to the house and it couldn’t have been any simpler. I could have been severely handicapped and unable to leave my home, but I didn’t have to leave my home. Andrew on the phone was very helpful and took care of a lot of questions. The procedure took longer than what he was hoping but it was on my procrastination, not his.
The house appraised for a lot more than what they ended up buying it for, but that’s how things work and there’s not much you can do about it. Things fluctuate and change from one month to the next. My wife just died and I could’ve sold our house on the market for more than I let it go for, but there's a benefit in staying at the home. I don’t have to worry about paying either rent or another mortgage. I weighed it out and it balances on the scale.
Finance of America Reverse services their own loans and they don't sell them. They had a better rate as well. They were lower than the other ones, but they were higher than a typical mortgage loan. Also, I’m not pleased with the FHA insurance charge. I think it was excessive. The application was fairly easy. But then I had some complicated income to show and so, that took a little bit longer. I worked with all women and they were wonderful. Nicole was my loan officer and she was nice to work with. I was very comfortable working with her. I could talk to her every day if I needed to. She was quick and very responsive. Sometimes, she didn’t pick up her voicemail, but I kept calling her and I would get her eventually. So, we were good.
There was a delay in getting my supplemental income approved. So, if there was a little more communication with that, that would have been nicer because we sat and waited for answers, and we were getting close to the cutoff date of when I needed to get this accomplished. But they were good. They were accessible all the time. I highly recommend Finance of America Reverse.
We don’t have children, so we don’t have to leave our house to anybody else. We also don’t wanna have a full value of the house go somewhere where we don't know until we pass away. We had no mortgage and we like to do some things that we can use the money for. We chose to go with a reverse mortgage. A new roof is being put on and I’m going to use the money out of this process.
The first time we went for a reverse mortgage, the company that was doing it at that time was a complete disaster. But this time, our Finance of America Reverse agent, Ernie, was excellent. We knew the process already, and he handled it close to perfection. If I had a question, he had an answer, and he was correct every time. If I couldn’t get him on the phone immediately, he always called back, mostly within an hour. Our experience this time was good. Finance of America Reverse's rates could be a bit better. But overall, it still came out pretty decent.
I wanted to help my brother get a motor home that we could travel in. I didn't owe much longer on my house so I decided to get a reverse mortgage. Finance of America Reverse sent me some information and I got in contact with them. The application process took a week or so. I had to fill out a lot of papers, go through my credit report, and make any explanations on that. I also had to go through counseling before I could get my loan and I got a certificate for that. Then somebody had to come out and do my paperwork, and that was about it. It was easy. I worked with a great loan officer named Matt and he was super nice. He helped me with everything. He always called me back when I called him or text him and did whatever was the easiest for me on getting the information to him. The rate and terms are okay and I will do my best to pay off what the interest is each year. Finance of America Reverse is great to work with.
We needed a bit more finance and I tried to do a reverse mortgage three times and there was always something with other companies where I spend money getting all of this counseling and at the end, we don’t get anything. But with Finance of America Reverse, it wasn't the case. Matthew was a person of his word. He was our loan officer and he was sweet, and if I asked him anything, he would give me an answer. He said the reverse mortgage was at a certain rate, and if we waited long, it may go down or up. But he tried to get us the best rate that he could. We need more like him. He tries to really help somebody instead of trying to help himself. We still talk every once in a while, and he’d be saying if there’s anything that we need, we could get in touch with him. They would be willing to help us, and you don’t get that too often.
I did a look-up on Google and Finance of America was rated number two after AAG. Jason from Finance of America Reverse called me. He was delightful, very smart, knew all the tricks and an MBA like myself. He made the process easy. He would email me and answer my questions. He'd get back to me instantaneously. Sometimes, we talked and had a good time. I did a second reverse mortgage adding about $87,000 given the price of my home had increased to 1.5 million.
Blackstone owns Finance of America, which impressed me. I’ve been following the stock market since 1970 and Blackstone is a big deal on Wall Street, so I knew I wasn’t dealing with some fly-by-night firm. But I was concerned with the rates because it said compound interest. It is a 6.99, but then it's a reverse mortgage and it does not have FHA insurance. I'm also getting many letters and fake calls from people who want me to do a reverse mortgage. The application process went very quickly though. More so than the reverse mortgage I did in 2014 with some other firm. Plus, everything was done correctly.
I wanted to make my retirement a little better and more comfortable. Finance of America Reverse seems to offer the best deals and so like they care. I got a reverse mortgage from them and the process went through very well. Everything went very smooth with the few steps we had to take. I mainly spoke with Julie and she was terrific. The people who also came down here and did the closing and whatnot were all very good. It's an expensive mortgage, but that's the way life is. It was a good experience and I would definitely tell others to go through Finance of America Reverse.
We're getting too tight so I got a reverse mortgage with Finance of America. The application process was interesting. It took a while with a few different perturbations here and there. It would have been easier if there weren’t a couple of problems we had to fix. But one of the reps, Joseph, stuck in there and helped. I was reasonably comfortable working with them. Finance of America Reverse took a lot of pressure off us.
I talked to AAG and Finance of America. Finance of America had a slightly lower interest rate and they do not sell their loans. The application process was long and laborious. You have to sign your name 500 times on application. Then, you have to sign another 500 times on closing, and it just seems to be almost to the point of ridiculousness. There could have been less papers to sign. But other than that, the experience was fine. The people I’ve dealt with were fine. Taylor kept in touch and he called if I have any questions. He was just extremely personable. We had a lot of chit-chat as opposed to just strictly business. He even sent me a Christmas card already. I had a lot of second thoughts about the rates and terms of the reverse mortgage because I ended up with twice the liability on the house than it had, just with closing cost, the fees, and the insurance. But overall, I was very satisfied with Finance of America.
I just wanted to praise your agent, Luan **. She was on top of everything and always had time to answer a question. She walked me through the process from beginning to end. She was also one of the most pleasant people I have the pleasure of dealing with. From start to finish it was one month. Well done.
I've enjoyed doing business with Finance of America. I liked the rates and terms so I went with it. I called and talked to Toby, and he seemed like a real good gentleman. He was kind and generous about talking with me. He enjoyed talking with me and I enjoyed talking with him. The application process was pretty long but other than that, it's okay. Working with Finance of America made us feel a lot better and I would recommend them. Get ahold of Toby Beers and then everything would be all right.
I wanted to make sure that in my last days, I can live and have enough money to do whatever I wanted to do. I chose to get a reverse mortgage and other lenders didn't take time to really talk about it. With Finance of America Reverse, they sent me to counselors and once we got it, they called me all the time if there were any questions. Also, I went to my attorney and talked with him. We did a lot of research and I picked Finance of America. I liked their service. Once I decided to go ahead with it, I called the lender back and did the application. Then, I waited for that to come back, went through the packet they sent me, took that back to my attorney, reviewed it again, and called back with any questions. Once the process started, I waited for the appraisal and when the appraisal finished, I did the repairs that needed to be done on the house and before I knew it, it was done.
The loan officer I had was the best. She took the time to listen to me, listened to my questions, and we would talk. Whatever I had to say, if she didn’t know, she researched it and got back to me. She went beyond trying to get a loan. She took her time and I appreciated that. Plus, I kept her updated and she kept me updated. We worked together on that. The rate could have been just a little bit lower, but it still was within reason, so I wasn’t too bad about that. And I selected the terms I wanted. I've already told a couple of people about Finance of America. I thought it was a good thing if their situation was right. For what I needed, it was the right thing to do.
My wife has been ill and I got Finance of America Reverse as a fallback. I called them and spoke with a rep named Christian. He was nice and honest, and he did a wonderful job. There were a lot of different mess ups and he got it all straightened out. There was all kind of junk that Finance of America had to do then that I didn’t know about upfront and I had just straightened out several things that weren’t mine on my credit report, which I had never looked at ever. Other than that, the process was done and it got completed in less than a month. Christian and I made friends during the deal. He still calls me just to see how I'm doing, which is impressive.
I had heard a lot about reverse mortgages and it seemed like it might be what I needed. I had a car wreck previously and it cost me a lot of $3,000 to get my car fixed. I thought it was crazy and decided I was gonna go ahead and do the reverse mortgage. I was told that the loan officer, Caroline, was very friendly and that she would keep in touch but she didn’t at the end. Once the loan was over and I got approved, she didn’t get in touch with me. And I wanted to because some more people were trying to make me take out a power fee on $189,000 to protect my interest in my house. What was the point of that though? I just got my money and I put it in the bank. Why would I wanna go and take another big loan to pay off something that I haven't started yet.
So I called about that and when I finally got her, she told me not to worry. I also asked her why they were saying my loan is $189,000 when my house didn’t even go over $126,000 but I really didn’t get an answer because I don’t know yet why they do that or who did it to me. But aside from that, I was also supposed to get a welcome package. The process finished off in early September but I never got that welcome package unless it came under a different name. Caroline also said that I would be getting a monthly bill showing where I stood on the process and I never got that either. I haven’t gotten it on my e-mail either. And I want paper. I don’t want e-mail because I don’t check it that much. It's like they forgot me.
Caroline was always very nice though. I had never done a reverse mortgage before and I was so nervous about it. But it wasn’t so bad because they came out to my house. I didn't have to get dressed up to go downtown. Plus there was no way I was driving in Houston so I was glad they came to my home. When I had a question, it took them a day or two to reach back out with an answer. There were a lot of papers for the application with Finance of America Reverse and filling them all took about an hour and a half.
The person at Finance of America Reverse that handled my reverse mortgage did a good job. I kind of felt trusted with him and the process went fairly well. There were a few bumps here and there, but other than that, it wasn’t too bad. It took about three months and Finance of America was pretty good.
I don’t have heirs that I need to take care of so much, so doing a reverse mortgage was a no-brainer. I could use some money and I don’t have to be concerned that I’m not leaving the full value of the house behind for someone. I got curious and looked into it online and I got bombarded with calls and emails. Ellen, of Finance of America Reverse was one of the reps that contacted me. I talked to her a bit and she was very knowledgeable about stuff. A few months later, after I had time to research and I was thinking about looking into it more, Ellen called and asked if I had thought about following up on it. She knew her business and she was a good choice. The application process went good, although so much of it was required by law to go through credit counseling. She made it as smooth as she could.
I had refinanced my house several times because I started with a very high interest rate and, somewhere along the line, somebody dropped the ball on some of the paperwork and transferred me from one mortgage company to another. So, Finance of America Reverse had trouble with the title search and they had to keep going over and over with it, trying to figure out what happened during that stretch. The company was very good about it, although some people were pushy. It was explained to me thoroughly and Ellen really encouraged me to ask questions. She was very helpful as far as explaining things I didn’t understand. I told Ellen that one of the offers from another company was a little lower, so she talked to her boss and they matched the other companies. They bent over backwards.
I felt very comfortable working with Ellen. She had a good sense of humor and it was very easygoing, same as the company that did the credit counseling. I felt at ease working with all those people. Whenever I would call for her the next morning I would say, “Hey, I just realized that this and that.” And she would explain to me how the growth rate worked. I also got a good estimate on the house as far as the appraisal goes. They lined it up and it went fast as well. They got right on it. The rates and the terms of the mortgage were as good as they could be. She knew that I liked things to move right along and she worked that it would quickly.
Doing a reverse mortgage seemed to be the best way to go without having a monthly payment. Finance of America Reverse had a better loan package than AAG and they had a choice where AAG didn’t. AAG only had one program while Finance of America Reverse had three to choose from. I spent a lot of time checking reviews and everything I read for AAG was no communication and one can’t get ahold of anybody or nobody could give answers. On the other hand, everything I’d seen for FAR was awesome and they are indeed.
The application process with FAR was relatively easy and it was all done over the phone. I did the application and underwriting 90 days way ahead of time, so I was ready to close on my birthday. They sent a notary out to have us sign the application and it was just the appraisals and stuff like that of a standard mortgage. However, the appraiser they sent out felt necessary to put a lot of personal observations in the appraisal, which probably cost us a couple three weeks. So, they could change their appraisers. Other than that, I worked with Jill and she was awesome. She was always giving me information, had answers to questions if I had any, and the communication was always there. FAR was very thorough in their guidance and working with them had a very positive impact in my life so far. We’re doing things now in our golden years we wouldn’t have been able to do.
We were interested in a reverse mortgage, so I called some of the companies and then I had them reviewed by some experts in the field. Carol, the loan officer whom I was speaking to at Finance of America Reverse, was professional, and we went with them. Carol gave me good answers to my questions and we corresponded through text, email and phone. If she didn’t know the answers, she was very willing to find out what they were. She had a reverse mortgage herself and she was willing to give me the information that I wanted. Any of the information that was asked of me was appropriate and I felt comfortable talking to her. There were other reps that I talked to from different companies that I certainly felt very uncomfortable, and no matter what kind of a deal they offered, I wouldn’t work with them.
I was sort of alarmed, however, that when we were filling out the papers during the application process with Finance of America Reverse, they had a form in there that said we could leave our rights to know what the appraisal was on our house. I think everybody should have that appraisal info, and there should never be a form giving away your rights to see that.
The first time we signed the papers, there was a question that couldn’t be answered by the lady notary. It had to be answered by Carol’s boss, or someone else that she was supposed to have had access to but didn’t. She had been given two telephone numbers to call and was told that they would available, and neither one of them were. That notary was extremely good though and we even requested her to do the next time but she was not available as she was on vacation.
The second notary to do the final papers lives in Sacramento, and that lady was not quite sure if she could figure out how to get to Folsom. She had an attitude and I had no confidence in her at all. I felt very uncomfortable in talking to her. Then we were very thankful that we got the notary we finally got because she knew what she was doing. The process was done in an acceptable length of time and going through the papers, she knew what the answers were.
The guidance I received while working with Finance of America Reverse was fine until Carol went on vacation, and I was very disappointed that she and her boss went on vacation at the same time. All the papers were sent back to New York, to some place on the East Coast and the application and underwriting process was sorta dropped. We should have had the process completed a week or two in advance of what we did, but it was like nothing could happen without Carol and her boss. Carol even gave me her cellphone number and I called, telling her the problems we were having, but she never responded. The situation left us with no recourse and it was unacceptable. When the A-team was working, it went well. But when they went on vacation, everything fell apart with the notary and with Carol’s replacement. That situation gave us nightmares.
After considering everything else that I looked at, Finance of America Reverse looked like they were offering the package that fitted us the best. The representative that I dealt with was really what sold me on them. She was very good and took all of the time in the world and explained everything to where I could understand things easily. The whole process took months as we were doing some other things and we weren't gonna be there. We also had some delays with Finance of America Reverse coming in to give us an appraisal on the house. The rates and terms that we got were good and very comparable to everyone else's. We hope that as we go forward, it works out well with Finance of America.
I looked into moving into some type of retirement community because I'm not in great health, but it was very expensive and I couldn't afford it, so not having that as an option then, I was more or less stuck in my house. And realizing that I was going to be living here for the rest of my life, I had a sudden loss of income and I had to find another source of revenue. I went to LendingTree, to begin with, and I collected different proposals.
I had about four or five other proposals and I followed up on them all. I looked at their tables and compared them in terms of what rates they offered and what their closing costs were, and most of them offered a margin over the LIBOR. So, I looked for one with a good margin. A fixed-term loan was out of the question for me because I didn't require immediate funds. I wanted to be able to have an income in a case when I will need to draw. I felt that a line of credit would serve me better. I compared all the factors you would look at with an ARM and Finance of America Reverse was the best.
I worked with the agent, Linda, who made things a lot easier for me because I'm not able to usually get up and go to the office. She was fantastic and she answered questions on weekends, which I didn't expect. She went out of her way throughout the loan process. She also made things very straightforward and I liked her explanations. They were very clear. She will continue to be my loan officer and that was a big factor for me. My experience with Finance of America was great and they were all flexible around what I needed.
William ** was the person we worked with and he did an excellent job. He wasn’t pushy or intrusive but he did manage to keep the process moving along quite well. We started in August and ended in November 2018, which I found to be timely but not rushed. William was good at explaining where we were at each point in the process and was quick to respond to questions. There were no unpleasant surprises for which we give William full credit.
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.
Finance of America Reverse Company Information
- Social media:
- Company Name:
- Finance of America Reverse
- Company Type:
- Year Founded:
- Formerly Named:
- Urban Financial Group
- 8023 East 63d Place, Suite 700
- Postal Code:
- United States
- (877) 405-0917