Finance of America Reverse
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Finance of America Reverse

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Consumer Reviews and Complaints

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Finance of America Reverse

Jim,

Thank you for leaving a review with Consumer Affairs. Thank you allowing us to help you with your reverse mortgage. We appreciate your recommendation!

-FAR

Original review: Nov. 15, 2016

I wanted to take a moment to say thank you Andrew ** for the professional job he did handling my application and subsequent loan paperwork. First when I looked on the internet for a loan, he was very responsive, not pushy and shared a wealth of educational information with me. He was professional and timely. He answered my questions and kept me advised all the way through final stages. Had he not done that there were 15 other companies who wanted my business. Yes I would recommend Finance of America Reverse Mortgage and Andrew **.

5 people found this review helpful

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Renee,

Thank you for leaving a review. Glad to hear we were able to help you with your reverse mortgage.

-FAR

Original review: Nov. 9, 2016

I filled out an information sheet and several people called me back. Ernie from Finance of America was persistent and nice. I taught for 30 plus years, but I had taken out 15 before my husband died, so I didn't have that much. I only had a retirement, but all the years end and I can't make it on what I draw, so I got a reverse mortgage. I usually could get Finance of America's loan officer right away, but he always returned my call if I didn't. The experience went well. It was fairly quick, not like a regular mortgage.

3 people found this review helpful

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I dealt with several different companies at first then I went with Finance of America Reverse. They were nice, very polite, always friendly, and helped me along the way especially when I was dragging my feet at times. The person whom I did all my dealings with was very knowledgeable and persistent, but she was very good. She knew the answers before I did ask questions. She knew I had to have them.

2 people found this review helpful

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Harold,

Thank you for the review. Glad to hear our team answered all your questions and you had a positive experience.

-FAR

Original review: Nov. 6, 2016

I had some bills that I needed to pay off so I did a reverse mortgage with FAR. I've had an experience with another company that wasn't positive and when I explained to the young lady at FAR what I had experienced, she assured me that that wouldn't happen with her company. She was truthful with me, and it all worked out in my favor. Everything was positive. The team answered my questions and gave me the answers that I needed. All of the answers that I got from them were truthful. I'd recommend Finance of America to somebody else.

3 people found this review helpful

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Sidney,

Thank you for leaving a review. Happy to hear your reverse mortgage went so well working with our team.

-FAR

Original review: Nov. 3, 2016

We have a home that none of the rest of our family are interested in after we're gone. So, we decided that reverse mortgage would be the way to do it. We had nothing but good relations with FAR reps. They did a very nice job presenting it to us and we're very happy. Everything went along fine and they did everything that they said they would do.

3 people found this review helpful

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Glenn,

Thank you for leaving a review. Awesome that your prior experience with us brought you back to get your reverse mortgage complete. Sounds like you had an all around great experience. We appreciate your business!

-FAR

Original review: Oct. 16, 2016

My mom ran out of retirement funds. We couldn't meet the mortgage payments. We needed to get that extra $1500 a month, and we didn't have it so all of a sudden, foreclosure was knocking on our door. We should have done the reverse mortgage four years ago when we first heard about Finance of America Reverse. Although I considered four other companies, I had a good experience with Finance of America's professionalism, personal contact, follow-up, handwritten or typed messages, and little old-fashioned things like that which made me feel like this company's going to be around and that they know what they're doing. When I came back to Finance of America four years later, here they still are, and it was great.

The guidance we got was more than I expected. Kevin, our representative, was excellent. He's a good agent who knows what he's doing and has done it before. I thought I knew more about mortgage than I did but Kevin told me how much I don’t know. They also extended out their option for me to come up with a game plan for future options, which I also liked. He's like, "Look. This has got to get done now." I liked his aggressiveness, which is important. If you want to get the business deal done, especially in Colorado, time is of the essence. It's very hard to get the evaluators to come out to your home. Kevin did a phenomenal job in pursuing the matter and pushing the envelope. Kevin and I put this thing together. He and I were on the same page. He gave me my duties to do, and we got this done in a faster time than I expected. It was a very good experience and I've recommended Finance of America to a friend.

3 people found this review helpful

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Lorene,

Thank you for leaving a review with Consumer Affairs. Glad to see that we helped make the process easy for you.

-FAR

Original review: Oct. 11, 2016

We have a business and we wanted help finding some other business and doing some extra things to the house. With a reverse mortgage, we didn't have a monthly payment. If we wanted to pay $200 or a thousand dollars in one month, we could do that unlike with a regular mortgage. A lady at my church told me about Finance of America Reverse. Their staff were really good. They called a lot and they made sure everything was done. They helped me to get it go through really fast and they talked me through everything. That was really nice and the process was really easy. They worked really well with me so I liked it.

4 people found this review helpful

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Edward,

Thank you for your review on Consumer Affairs. We are happy to hear your loan officer was able to help you understand all the details of a reverse mortgage.

Thank you for your business!

-FAR

Original review: Oct. 10, 2016

I had a few large credit card debts and a bank line of credit, so I wanted to get rid of all those debts to lower my monthly bills. The loan officer from Finance of America Reverse always responded to my calls and kept me informed of everything. The guidance was great, there was nothing that I didn't understand. He explained the refinance options very clearly, and answered any questions I had. Everything was very good, went smooth as far as I was concerned, and I was impressed by that.

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Lin,

Thank you for placing a review on Consumer Affairs. Happy to hear you hit it off with our loan officer and they were able to make the process easy for you.

-FAR

Original review: Oct. 7, 2016

I hit it off with the girl from Finance of America that called me. We talked about my situation financially, family, where we lived and hobbies. She's about the same as age as me, and answered all my questions. She convinced me to go with them. I didn't really know that much about reverse mortgage and she explained it to me in a very easy way to understand. Overall, they're very easy to work with and it didn't take much time. They would set everything up, including the meetings with the notary. And any paperwork that had to be done was easy to do.

4 people found this review helpful

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Richard,

Thank you for leaving a review with Consumer Affairs. We appreciate the opportunity to help guide your through the process.

-FAR

Original review: Oct. 2, 2016

I was afraid that the interest rates would increase and lots of people said they’re going to. I would have a tough time making my payments so I got a reverse mortgage. I looked up reverse mortgages on the internet, got all of their documents, carefully checked them, and Finance of America Reverse was the best one. I got them and they gave me excellent guidance.

4 people found this review helpful

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Richard,

Thank you for your review. Glad to hear our communication was top notch and allowed you to get through the process with ease.

-FAR

Original review: Sept. 21, 2016

I like the dealing with the person from Finance of America Reverse who I was assigned to or who I talked with. It was overall a pleasant experience with the communication with her and what was said was followed up with whatever I needed or she would return calls. I'm glad that I did proceed through having a reverse mortgage put in place on my own.

3 people found this review helpful

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Deborah,

Awesome! Thank you for leaving a review and speaking so highly of our loan officer. We work hard to find the best people to provide a great experience for our customers!

-FAR

Original review: Sept. 14, 2016

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!!

3 people found this review helpful

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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.

2 people found this review helpful

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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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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.

2 people found this review helpful

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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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Dianne,

Thank you for leaving a review. We really appreciate your business!

-FAR

Original review: Aug. 13, 2016

I've had a reverse mortgage before and I found it better than a HELOC, and I didn’t necessarily want to have another payment. I like the option that I can pay it off if I want to, but I don’t have to. I'm getting monthly materials from Finance of America Reverse and I'm surprised with what I'm seeing. But I'm not very dissatisfied with my experience with them. I would do it again.

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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.

2 people found this review helpful

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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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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.

3 people found this review helpful

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Sandra,

Thank you for leaving a review with Consumer Affairs.We appreciate you choosing to work with Finance of America Reverse and are so pleased that you had a wonderful experience working with your loan officer. Glad to hear you had a great experience.

- FAR

Original review: Jan. 16, 2017

I inquired about a reverse mortgage and checked into different companies. I requested information online and then everybody started calling. Finance of America Reverse was one of them and I liked their service based from the others. The loan officer was knowledgeable and patient with me. I had a lot of questions because I wasn't too sure, so he explained everything and I really liked his customer service which is why I stayed with him out of all the other ones that I was dealing with. The courtesy he had through the whole process was outstanding. And I found him very honest and very helpful, whereas the others to me were just thinking about themselves and not about my needs.

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Michael,

Thank you for leaving a review with Consumer Affairs. We are pleased to hear that you chose to work with Finance of America Reverse and that everything went as smoothly as possible during the process. Your recommendation is very appreciated.

- FAR

Original review: Jan. 14, 2017

I was on a fixed income and had put so much money into the house. I had so little coming in. I needed to move my wife into my house because of illness and take care of her. She's disabled and I needed to fix an apartment for her so that she can come in and out of the house. Doing a reverse mortgage was the only way I could do it.

Finance of America was the first company I looked into and the first one I really felt good about. I looked up the supposedly top ten companies and Finance of America wasn't listed. My gut feeling was to go with them, but I put them aside and went with one of these top ten companies. They screwed me over and led me along for a long time. I had given up on them and Finance of America called me up and said, "I guess you haven't got your money by now, right?" I asked how did they know and I was told, "Because most of their clients are with us."

I should have went with my gut feelings to begin with. When I went with Finance of America, I got all the cooperation I needed. I did have some trouble along the ways, but with the other company that's going to assign the allotting of the money and stuff. When I had trouble, I had to keep contacting Finance of America and they were very good at getting back to me. I was consistently sitting by the phone and jumping into these recliners to answer the phone. I was dealing with not only them but two other companies that were involved in this process. It went very smoothly considering the other company ran me in circles and did nothing for me. So, I was very happy in the end. I would recommend Finance of America to anybody.

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Dorothy,

We appreciate you taking the time to leave a review on Consumer Affairs. We are pleased to hear that we were able to give you all the information and that you think so highly of your loan officer. Feel free to contact us with additional questions anytime.

- FAR

Original review: Jan. 13, 2017

I had some things that I wanted to do and I wanted to use the equity in the house to take care of some additional repair work and also give me a little cushion in case of an emergency. The guy that worked with me was fantastic, knowledgeable, and professional. He gave me the information if I repeated the question and did not rush me. I could tell he wanted to give me the information and help me along the path if I attempted to see what to do about this. I'm supposed to receive some more money later on in March. I know that what I'm able to borrow is based on the homes in the neighborhood. So, as far as practical information and return of calls go, it was a reasonable experience.

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The market went sour on me and I lost too much money. The only thing I had left that had value was the home. I had plenty of equity in it so I got a reverse mortgage as part of the retirement plan. The loan officer was there not just for business, but she was almost like a friend. The thing that surprised me though were the fees at the end of it all. I had no idea they were going to be that much, but by that time it was too late. Sometimes it will be $6,000+ in fees. It might have swayed my decision to even do it, but it's done now. Other than that, I'm satisfied with Finance of America Reverse.

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Pat,

We appreciate you taking the time to leave a review for Finance of America. So great to hear that your loan officer was able to easily walk you through the reverse mortgage process and explain all the steps thoroughly. Thank you for choosing to work with us.

- FAR

Original review: Jan. 11, 2017

The loan officer at Finance of America Reverse has been very helpful. He walked us through every step of the way and explained everything that we wanted to know. He was very kind and we felt that we made a good decision.

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Ardean,

Thank you for leaving a review on Consumer Affairs. We are glad you chose to work with Finance of America Reverse. It sounds like you had a great experience with your loan officer and that they were able to smoothly guide you through the process.

- FAR

Original review: Jan. 10, 2017

I built my home 20 years ago but my children were not interested in it. I loved this home and wanted to stay there. A reverse mortgage made sense and was the best way to go. I did a search for the top 10 companies and Finance of America Reverse came up. Had it not been for my loan officer, John, I would not have gone through with the loan. He was the most incredible banking broker I've ever worked with in my life.

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Hi Gene,

Thank you for leaving a review and expressing your situation on Consumer Affairs. We are going to be reaching out within the next couple of days to answer any additional questions you have about your reverse mortgage. Your business is very appreciated and we want to make sure you have a great experience.

- FAR

Original review: Jan. 9, 2017

I was broke and I saw Finance of America Reverse. I needed such service. Once the paper was signed, I didn't hear from anybody which was questionable, but I wasn't disappointed. I got something in the mail from them and I'm confused about it. I am trying to find the woman who handled my case and ask what it is about. I'm also not going to do anything about the bill for the taxes 'cause everything is supposed to be taken care of. Finance of America Reverse took $77,000 out to pay all these things for the rest of my life. But I question why they sent return envelopes for the two payments that I did.

There were times when I was disappointed with Finance of America Reverse and there were times when I was pleased. There were things they wanted me to provide and there were things they didn't tell me about when I first talk to them. They told me something has gone through but they called me that I had to do something. But my brothers handled and settled most of these matters. I own the house 'cause I want to live in it for the rest of my life. My two brothers got the smarts and they told me what to do. On the whole, I'm happy with Finance of America Reverse.

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My father passed away. He had a little life insurance and not a ton of money so that left my mother only with the social security income. His retirement dropped a very small amount too and that was unable to keep up with the bills. And my mother did rely on the money he had. So it was either she would have to lose the home or get it done with a reverse mortgage from FAR so she could stay in her home.

Our loan officer Laura was very nice, however, we had some unusual circumstances. She asked what I thought about the house's would be about worth. I said, "Someone next door went for $275,000. And this one ought to easily go for $275,000." And then somebody went out to do the appraisal of the home. I knew the gentleman through other people and he's a very nice man. But I felt like he really low-balled us on the appraisal of the home. The county tax records have it for about $240,000 and the insurance people making value it to $279,000. But he appraised this at $185,000 and this one is all brick. It's two-story, has a detached garage and a brick fence all the way around. There were also flagstone, hardwood, marble in the house.

But they had to go by his appraisal. And we had to do a home counseling with the counselor as part of the process of getting the reverse mortgage. And she told me that I couldn't get another loan or inspection for five months and we didn't have that long. We need it for to be taken care of. So, the amount of money that my mother got that they're willing to give her was just enough to pay off the house and they're gonna take care of her taxes and insurance.

And she got a $200 check in the mail. She doesn't have any monthly income or any money from them. That was it and there was only less than a $100,000 over on the house. So, they held back about $62,000 to pay taxes and insurance. I said, "How in the world they come up with that amount?" They told me it's a government law and it's based on the fact that she may live to 99 in her years. So, we were forced into a corner and we went with it. Now, my mother doesn't have to worry about being put out on the street. It's definitely a comfort and it's a fair amount of money. It's like they're paying for the taxes and insurances would be during half of her social security check anyway.

They did all they could. We just didn't know what to expect with the whole process. And in the beginning, they said we could have all this done in 29 days - they could close and all. But we didn't take much longer than that. But I didn't know that it was all their fault. And we just didn't know about the rules that we had to go by. But I would definitely recommend Finance of America Reverse especially Laura. She did all she could. She took us all the way home and did an outstanding job. I talked with a few other people there and there was another lady and I just didn't care for her.

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Mary,

Thank you for leaving a review on Consumer Affairs. We are happy to hear that you have been able to use your reverse mortgage to make your home more comfortable. Thank you for allowing us the opportunity to serve you.

- FAR

Original review: Jan. 6, 2017

I've done the reverse mortgage from Finance of America and I've already spent $20,000. Now, I have the monthly payment for the home improvement and I don't have that monthly payment for the house. So, that helped me get something inside my house nicer than I had that I'm able to be more comfortable with. I did both of my bathrooms and the walk-in shower - things that would be good for me for later on. The loan officer from Finance America was good and he helped me out a whole lot. Everybody that he sent over, including the guy who appraised it and the guy who did the paperwork, were all nice.

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Johanna,

We appreciate you leaving a review on Consumer Affairs and speaking so highly of your loan officer. It sounds like you had a great experience and we are happy to hear that everything went as planned.

- FAR

Original review: Jan. 5, 2017

I looked into a reverse mortgage since it was beneficial to my financial status. I went with Finance of America, and my loan agent was very apt, friendly and helpful. Everything went well. All the information was requested and submitted, and all went as planned.

Finance of America Reverse Company Profile

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