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Finance of America Reverse Reviews

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About Finance of America Reverse

Finance of America Companies helps retirees by offering a range of home financing options, including reverse mortgages and home improvement loans as well as home-sharing services. As of April 2023, Finance of America acquired American Advisors Group (AAG).

Visit www.financeofamerica.com
Pros
  • Refinancing options
  • Loans up to $4 million
  • No origination fees
Cons
  • Proprietary product only in 28 states

Finance of America Reverse Reviews

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    Page 12 Reviews 1425 - 1575
    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed Nov. 7, 2018

    I liked the Finance of America Reverse agent I talked to. Carolyn was pretty knowledgeable and very, very helpful. She explained things and was very patient. She talked to me for a long time on the phone and understood everything. The application process was very long-winded, but it’s part of what you gotta do. Also, their rate and terms are in line with other people. Working with Finance of America Reverse relieved the stress and I would recommend them.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Nov. 6, 2018

    A reverse mortgage would give me more resources to be able to better enjoy my retirement. I got one from Finance of America Reverse and I liked the gentleman who called me, Taylor. He was very frank with me and we built a good bond of trust. He was a great guy, so I decided to go with their company. I figured the company that hired him should be the best.

    When we talked, I enjoyed everything that Taylor was saying. I was writing everything down and as we went along, I agreed. I told him I'd think about it for about a week or so, then my wife and I talked about it and we agreed that it would be in our benefit. We got the paperwork going and everything that he had mentioned happened. I was interviewed by some person that was working for HUD to make sure that I knew what I was getting into, and I did, so they sent a person down here a couple of times. One of them was to fill out the application and the other one was to close it out. He was very good and very reputable.

    All that time, Taylor was telling me what to expect and sure enough, it was happening. So, I had a lot of confidence and a lot of trust with them. Also, everything came out the way that they said that it was gonna come out. The last time I talked to Taylor, I thanked him a whole bunch and invited him to come visit me if he's ever down here close to Austin, Texas. We turned out to be good friends.

    Other than that, the rate and terms of the mortgage was as good as I coulda got with anybody else. Plus, the process took a couple of months and it was all done. So it was fast enough and I was kept in the loop about what all was happening. I would tell a friend that if he's thinking about a reverse mortgage, he needs to check with Finance of America first. And if he wants to check with others, I would tell him to go right ahead but I don't think that he'll find one that's any better than Finance of America.

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    StaffLoan Process

    Reviewed Nov. 6, 2018

    I wanted to do some work on my house and Finance of America Reverse seemed to be the best lender. I started dealing with Rocky and he convinced me to go with them. He got everything started for me and more than anything else, he was a lot of help, but he's no longer with the company. Another guy finished up and he was good too. All of my concerns were taken care of and the process wasn't very long. I started before my divorce got through and the only holdup was waiting for my divorce to be completed. I was very happy with everything and the loan helped a lot. I've been able to do a lot of things to the house I couldn't have done without it.

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    StaffLoan ProcessRates

    Reviewed Nov. 5, 2018

    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.

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    Staff

    Reviewed Nov. 4, 2018

    Finance of America Reverse doesn't give you any pressure that you have to do it right away. And they’re very nice. They answered all of my questions and were very patient with me. Everything was easy and John, the agent that I dealt with, was very accommodating and knowledgeable. I was very comfortable working with him. The only thing that I questioned was the MIP insurance in advance. If we’re paying it monthly, why do we have to give a bulk? I was in the real estate business for over 50 years. I’m a real estate appraiser and we’ve had many FHA deals with MIP but we never did that. But John was telling me that they do it now. It's something new with the reverse mortgages. But that's not his fault or the company's problem. I’ve even recommended Finance of America to a couple of friends.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Nov. 4, 2018

    I used Finance of America Reverse and I had a fine experience with them. They had the best deal in terms of rate. The application process took 10 days, which was lengthy, but their people were knowledgeable and kept me informed. If I had concerns, they would usually get back to me within the day. I also talked to my loan officer so much. She was very helpful and she helped with any problems that were there. She answered all my questions and she made me feel very comfortable. It was terrific.

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    Customer ServiceStaff

    Reviewed Nov. 3, 2018

    I needed some money for some repairs and in case something happened. I went to reverse mortgage ‘cause I don’t have anyone except my son so I didn’t have anyone to leave the property to. I was with AAG and I couldn't get a response from them. I left messages after messages and when I called, they never answered. I would always get a voicemail and they wouldn’t return my calls. I get offended with that. I kept calling ‘till Michigan, who was with AAG, gave me the number of Finance of America Reverse. I called in and started dealing with Taylor. He was very nice. He answered his phone, and if he didn't get to me right then and I leave a voicemail, he’d get back with me.Overall, the application process at Finance was okay.

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    Customer ServiceStaffLoan Process

    Reviewed Nov. 1, 2018

    Our FAR Reverse Mortgage experience was "29 days start to funding". Our Loan Officer was and remains Diana ** and she is FANTASTIC. Our Processor was Lauren ** who never missed a beat. Good people. I had started my reverse mortgage search with the largest and best known RM lender earlier in the year and that experience took five months and ended in complete frustration and with no loan. FAR seems to emphasize customer service more than the other companies that I spoke with, and as for Diana ** - everything she said that they would or could do, they did. I was initially a little hesitant because I wanted to work with a company here in California and the FAR HQ is in Oklahoma with Diana's office in Indiana - that was no problem. I recommend FAR.

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    StaffLoan ProcessRates

    Reviewed Nov. 1, 2018

    Getting the mortgage from Finance of America Reverse was very simple. I talked to their rep and then we went through what I owed, how much I wanted, and how would I have to pay it if at all repayable. In the old reverse mortgage, once you got a mortgage, you got a check every month and you didn't have to pay that off. But this new one is different and I have a line of credit. The application and underwriting process took about two and a half months and the lending process could've been shorter. There were also a couple of problems with a couple of items that I had, but other than that, it was okay. The loan officer explained everything and it felt like he was more on my part rather than the company’s because he understood my situation as compared to other situations. The rates also looked pretty good as compared to other mortgage companies that I looked into that I was not satisfied with. Finance of America Reverse made life easier.

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    StaffLoan ProcessRates

    Reviewed Oct. 31, 2018

    I needed money so I got a reverse mortgage with Finance of America. It seemed like a better way than getting a mortgage. The first year the rate was fine, but the next year was just asinine. I couldn’t believe that it showed that much interest on the second year. The process also took forever. It took about three months and they could have improved on getting it quicker than this. They would want this and then come back and want that. But the rep I dealt with tried to do everything he could. Other than the long wait, everything was fine.

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    Rates

    Reviewed Oct. 30, 2018

    It looked like other people were pushing me into the reverse mortgage and I didn’t want to go with them. On the other hand, the guys at Finance of America Reverse were calm about things. They told me what I was gonna get on the first draw and the application process was easy. The loan I got was the only one with the best interest rate and it got us out of our debt on credit cards.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 30, 2018

    I'm retiring and I had about six more years left on my mortgage. I had a very large mortgage and I couldn’t afford it anymore, so I had to do a reverse. I checked everybody and I liked what people said about Finance of America Reverse. Obtaining the mortgage went very smoothly. The loan officer’s name is Jenny and she was very helpful with everything. I had a lot of questions and I'd call her, and she was always available for me. The process took two months which could have been quicker, but everything was fine and I was very pleased with what happened.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 29, 2018

    Getting a reverse mortgage with Finance of America Reverse took about three weeks. The application process was tedious and drawn out but all the information that they needed was essential and it worked. The loan officer also called me repeatedly and kept me up on what was going on so he was very good. The only thing that I disagreed with was paying my taxes and my insurance out of the money. They kept money out of the loan to pay those and I'm not paying them. Nonetheless, I don’t think I could have worked with a better company. In fact, I would recommend them. It was a good experience and we were able to get things done in the house that I couldn't have gotten done without the reverse mortgage.

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    StaffLoan ProcessRates

    Reviewed Oct. 28, 2018

    My baby brother suggested Finance of America Reverse. He's been in the finance business for years and has done extremely well for himself. So we went with Finance of America and we're very happy. They offered a more secure environment than what we're in now. The process was not stressful. But we're in the 80’s and they gave up information that wasn’t readily available. In that respect, it was time-consuming, but they answered all our questions and were very helpful in every respect. We won a prize for being the fastest. The rep sent us a card with a big first prize trophy on the card.

    Jamie impressed me so much as that she is almost like family. We send each other birthday cards, and take pictures of our dogs, family gatherings and send them to email and stuff. She was very informative, very readily available any time of the day or night if we had any questions or any concerns. The rates and terms were also exactly what we were told they would be so there was no surprise and we were very pleased. We're extremely pleased with the whole transaction, the expediency of it being handled and the no big surprises at any turn or corner. We were totally informed of what would be coming up, who would be calling us and when, and everything was more than I could have hoped for.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 28, 2018

    The application process at Finance of America Reverse was relatively easy. Although, it took us a month because they had some questions cause we'd only been in the house less than a year, so we had some things that we kept having to write letters about. But the process was good and so were the rates. In addition, our loan officer was very helpful. Her name is Marina and I never had any problems reaching her. If I didn’t reach her right away, she was always quick to call me back. All in all, working with FAR made a big difference for us. We did it mainly because we owed the federal government some money and we thought that it was our best option in paying them off. It's a huge relief getting that taken care of. I wouldn't have any trouble recommending FAR to somebody.

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    StaffLoan Process

    Reviewed Oct. 27, 2018

    I talked to agents from several companies and the one from Finance of America Reverse was the best. He was the reason why I chose Finance of America. He was very straightforward and honest. He didn’t try and persuade me to go with him by using what I consider to be unethical practices, psychological and fear, and a lot of things I did not like in other agents I spoke with. He made it clear that I was eligible and he would guide me through the process which he did. The application process was easy because I had help and the loan was closed quickly. Finance of America helped me greatly by lending me money that I needed.

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    Loan Process

    Reviewed Oct. 26, 2018

    My children wanted me to do a reverse mortgage. My daughter and I were gonna go to another place but we changed our minds and went with Finance of America Reverse. Their process involved so many forms and I had to fill out all the papers. Also, all the times that I had to get my papers out, they were put away. Other than that, the terms they gave me were fair and my experience with the woman I spent most of the time with was fine. All in all, my experience was all right but going through First American takes a lot longer and is a little more complicated than people might think.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 25, 2018

    We have a lot of equity in the house and we did not want to sell the home. Getting a reverse mortgage seemed like the logical thing to do. I saw an ad on Facebook and I filled out some very simple questions. Then I received a phone call and I liked the person that I talked to. Barbara seemed very knowledgeable so we were very happy working with her. She was also very patient. When we first got into it, we weren't sure. We didn't know if we were gonna do a reverse mortgage or if we were going to possibly get a second mortgage. And she just waited. She would call occasionally and when I would tell her we haven't decided yet, she would say, "That's okay, no problem." It was no pressure.

    Barbara was also extremely forthright. She explained everything clearly and answered any questions that I had. I felt like I was totally informed. We also had a chance to think through everything, every step of the way. There was no pressure and no rushing. We took our time. We really investigated all options and talked to our financial advisor at Merrill Lynch, then we decided to go ahead with this. I was totally comfortable working with Finance of America Reverse and the process was very easy and quick. Barbara was extremely efficient, did a good job and made it easy for us. She was wonderful. I also kept our financial advisor informed on everything that we were doing and he was so impressed with the way that Barbara handled our account that he took her name and he's going to refer other clients of his to her.

    The rate was also about as good as you could get at that particular time and we got a pretty good amount out. Considering the value of the house, I would've wished that we had gotten more but I understand that they have to keep a great percentage there, hoping that they won't ever have to pay all the way down. It was fair and the charges were fair as well.

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    StaffLoan ProcessRates

    Reviewed Oct. 25, 2018

    I had to get rid of house payment and my reverse mortgage process with Finance of America Reverse went fairly well. My loan officer, Ray, worked with me really well and was extremely friendly. But there were a couple of things that could have been done a little bit better. We had a heck of a time getting the information that they needed to them. I think it was more or less lack of information on their part. For instance, whenever they wanted the bank statement, I did all that but then they came back and said they needed the whole thing, including the cut receipts. So then I had to go to the bank and get a printout of all that because they couldn't do the cut receipt on my computer at home.

    Then when the closing day came, I had a cashier’s check to pay everything. I made it out to Finance of America but it was supposed to have been made out to something like Boston Mortgage. Ray never told me who to make the check out to and I didn't think to ask him either. So we had to go back to the bank and get another one. But other than that, it went smoothly. It was about four weeks from start to finish, which is about the normal time to get everything done. The rate I got is probably the best there is too.

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    Customer ServiceStaff

    Reviewed Oct. 24, 2018

    My mother was 92 and she couldn't really afford to keep making her payments. I made a phone call to Finance of America Reverse and they called us back. Then we did the reverse mortgage via phone and email in the span of 30 days. They were pleasant and Andrew, in particular, was very knowledgeable. One of the notary who came out to me could have been a little bit more knowledgeable though. They couldn't really answer my questions and I had to keep calling back to the finance place. But working with Finance of America Reverse has been good for my mother. She doesn't have a payment anymore and I would recommend others to go with Finance of America Reverse as well.

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    Loan ProcessRates

    Reviewed Oct. 23, 2018

    I got a reverse mortgage from FInance of America Reverse. The loan experience was okay, but it was too repetitious sometimes. The rates and terms that I got were as good as anybody else's.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 23, 2018

    I wanted some money and considered on a reverse mortgage. We shopped around some companies and I liked Finance of America Reverse the best. They seemed to be more interested, gave us a lot of attention and were very good. We had to have a person come in and explain everything to us. And then we had to sign a whole bunch of papers, which was tedious, but it was okay. We didn’t have to do too much and everything was pretty much done over the phone. The application and underwriting process took three to four weeks. But something came up in the middle of that and it was my fault. But it was no big deal. It was just some money to have in reserve, in case, for things that come up.

    When we first went into a reverse mortgage without any knowledge, I was thinking the return would be a little higher. The closing costs were a little exorbitant for what they had to do. But it is what it is. The people at Finance of America Reverse were very good at communicating with me and I was impressed with that. The rep we worked with was friendly and accommodating. They had one girl who would call and ask about everything and if we needed anything. It was very nice. Also, there were all kinds of shifting from one department to another. But they listened and I was okay with that.

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    StaffLoan ProcessRates

    Reviewed Oct. 22, 2018

    I lost my husband and I couldn’t afford a health payment then when I looked into getting a reverse mortgage, the people at Finance of America Reverse were very nice and polite. The loan officer particularly was a great person. She answered all of my questions and I loved the way she helped me. Their rate was a little high but the application process was very easy. I haven't had any problems at all since working with Finance of America Reverse and life has been very easy.

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    StaffLoan Process

    Reviewed Oct. 21, 2018

    A reverse mortgage was what we needed during the time and Finance of America had less fees than some of the other ones that we were looking at. They were pretty much upfront about everything. The process took 45 days and it wasn’t too painful. The first guy that we dealt with for the first 30 days was fantastic. They apparently let him go during the middle of the process, but the person who stepped in helped us through it. FAR was exactly what we needed and my experience was great.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 21, 2018

    I'm 67 years old and my wife and I hadn't planned on moving again. We got a reverse mortgage strictly for an investment like we didn't wanna get all the money at one time. As a matter of fact, we hadn't planned on getting any of it until about 13 to 15 years from now. But I recently changed my mind. I think I'm gonna get about 6,000 or 7,000 now and that's about it.

    I started to go with AAG because they got this big name and I thought they were the biggest. When I inquired about it, I started getting all these phone calls from all these different people who wanted to do the reverse mortgage. A representative called and he solicited me. I liked his pitch so we went with him. But there were times I couldn't contact him. I would call the number he gave us, and it said to leave a message and he would get right back, but I couldn't leave a message on his phone so that was a little frustrating. But we were too far in the process to make any changes. I didn't wanna go through all that paperwork with anybody else. But I don't wanna put the guy down and he did a great job.

    Obtaining our mortgage was not difficult at all but it takes a little time, filling out all the paperwork. We have completed it for a month. Also, I feel good about the guidance I have received from Finance of America. I didn't know about the rates but when it was explained to me by the representative, it seemed to make sense. If a certain amount is locked in, then I don't have to worry too much about it getting out of proportion. I would recommend Finance of America Reverse to others.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 20, 2018

    I had a reverse mortgage before on my previous property and it allowed me to pay off the renovation. So, I paid for it out of my savings. The application with Finance of America Reverse was quick and very easy. They worked quickly and were very capable. The application and underwriting took a little less than 45 days and everything went smoothly. Although, the communication could have been better. One department called and said that they needed some papers or some copies of some forms which I knew I had sent. When I called our loan officer, she said she had them there. They just don’t talk.

    Other than that, my loan officer, Jennifer, was really accessible. She was gonna be gone for a few days and she didn’t want to feel that I was just hanging out there. So, she gave me her personal cellphone number in case I had questions. Also, the rate and terms were a little higher than one of the other companies that contacted, but Finance of America Reverse was more efficient in closing the loan.

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    Customer ServiceStaffRates

    Reviewed Oct. 19, 2018

    I worked with FInance of America before after they were recommended by a family friend years ago. One of their representatives who I had worked with before, Jason, called me and asked if I wanted to go ahead and take another reverse mortgage. The equity of my house had gone up and because it gives me a comfortable living, I said yes. He sent me the paperwork and then I had the notary public come a couple of times. They were very expedient. Jason was a very positive and nice person. He answered all my questions and he did a great job on the phone.

    However, I could have done better with my rates and terms. The rate is too high. I looked at some of my papers and I could see how much interest is being taken on it monthly. If I live another 10 years, it’s gonna be quite expensive. Nevertheless, I’m very happy. I have what I need financially. I don’t have to worry about tomorrow. I really recommend a reverse mortgage on your house. You don’t know how long you’re gonna live or what you’re gonna do. It gives you the option of working. I’m self-sufficient. There’s also enough for my kids and my family.

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    StaffLoan Process

    Reviewed Oct. 19, 2018

    We looked at a lot of companies to take equity out of our house. Finance of America Reverse was there and they did a good marketing promo. However, the application was terrible and we had a frustrating experience. There were a lot of miscommunication and lack of training. We had to get the vice president involved because they gave me someone new that couldn't find the end of her thumb. Then I was turned from that new person to another person that couldn't handle it. The first person was more interested in her children, what her personal life was and why she couldn't be at the office. She wasn't detail-oriented enough and she didn't check off the boxes. The second gentleman got flustered and he couldn't explain to me the HUD-1 Statement. He was trying his best, but they didn't give him enough tools. The vice president also had an attitude in the beginning.

    Finance of America Reverse needs to review their training process and make sure they can explain a HUD-1 Statement to the client. Plus the client should not have to be an accountant to understand it. They act like they're dealing with 30-year-old people. They're dealing with seniors and they have to adjust how they speak with them. It's a whole dynamic that they totally ignored.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Kathryn, thank you for providing your feedback about your experience. We appreciate the opportunity to improve our customer service and will certainly take your suggestions into consideration.

    Customer ServiceStaff

    Reviewed Oct. 18, 2018

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

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    Finance of America Reverse
    Response from Finance of America Reverse

    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.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 18, 2018

    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.

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    Finance of America Reverse
    Response from Finance of America Reverse

    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.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 17, 2018

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

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

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    StaffRates

    Reviewed Oct. 17, 2018

    For the last two years, my son had been paying my tax and insurance for the house. It was $6,000 a year and he wasn't gonna be able to do it anymore. I didn't have that much extra money, too. So, I decided to take a reverse mortgage rather than end up going in any kind of debt. One time, I put in reverse mortgage on my iPad and I was just checking out and that was the end of that. And in about a week after that, I got a phone call from a fellow from Finance of America Reverse up from Indianapolis. He was very nice and helpful. So, I decided I might as well go for it.

    The guy walked me through the whole thing and whatever paperwork that I needed, which I sent to them. The only thing is it took about four months when I got the reverse mortgage. I had one loan they had to pay and then they were gonna give me some money, so they asked me what it was. I said, "Well, I had equity loan. Pay off the equity loan and send me $20,000, and we'll go from there." We went through the closing and then I got a check for $120,000 in the mail. I almost died. For some reason, they had to do it that way. And I said, "Well, I don't want that money. I don't wanna pay an interest on all that kind of money. Plus, I don't need it." So, I sent $100,000 back to them and kept the $20,000. It worked out exactly the way I wanted it in the beginning.

    There were two different guys that worked with me. I thought the one I started with was gonna stay with me, but then when they okay-ed everything, I worked with another fellow. They were both very good and really nice. Any questions I had, they answered right off the bat and they were right upfront with everything. I'm very pleased with Finance of America Reverse.

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    StaffLoan Process

    Reviewed Oct. 16, 2018

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

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 15, 2018

    Finance of America Reverse offered me more money for a monthly income, but the downfall on it was those people were calling me every day and bothering me. They rushed everything through as far as the application process. When I decided to do the loan, they had it done in about four days. They had the appraiser here and they got a hold of the other guy for me to fill out all the closing papers. After I signed the final papers, they were supposed to pay me $250 at the closing and pay me monthly. They closed the house on the 6th, but they never paid me for the month of September. They paid me on the 3rd of this month, but they skipped September on me.

    They must give a name to somebody because this is the third guy that I worked with. I really got worried and I didn’t know if I was being scammed. I haven't talked to them since and I haven't been able to get a hold of them. They know my phone number. I kept calling them, but it said to leave a message. They wouldn’t answer the phone. I also went to my bank and I asked them if my loan was paid off, but they didn’t know and they couldn’t find it. It was like the whole loan just disappeared. I called Finance of America Reverse and asked if my loan has been paid off. They said that I only closed on it five days ago and I said that they were supposed to pay it off for the month. A woman called me back and she told me that it was paid off.

    There is a brand-new steel roof on this house, but when they got the appraiser here, they appraised the house at $181,000, the amount I paid for 20 years ago. However, the house on the other side of the neighbor is nowhere near as nice as mine and it was sold for $171,000, so Finance of America Reverse lowballed me on the appraisal of my house. I tried to get them to negotiate the appraisal and I sent them proof. I faxed some houses that were sold and I asked them why my taxes went up on my house. The state got it appraised at $240,000 and they were only to give me $181,000. They lowballed me so that they wouldn’t have to give me a higher monthly income, and I wasn’t happy with that at all. I wouldn’t recommend Finance of America Reverse.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 14, 2018

    The application process with Finance of America Reverse was good and I didn’t take long at all. I did it for my dad. And then, we had an interview with supposed to be an unbiased third party. That was done with my dad together over the telephone and that went well and my dad was tickled. It came through just exactly as it was supposed to. The loan officer that I worked with was awesome as well. I liked that she was on top of it. She got the documents to me and she was reminding me. She would call me after hours when it was late and return my calls. I could not have asked for a better experience. So if I needed one, I would go there again. If I needed to recommend somebody, I’d recommend they go to Finance of America.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 13, 2018

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

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    StaffLoan ProcessRates

    Reviewed Oct. 12, 2018

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

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

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    StaffLoan Process

    Reviewed Oct. 11, 2018

    My mom needed extra money. I convinced her about getting a reverse mortgage but she was nervous about doing it. She's afraid she's gonna lose her house. Josh, the guy from Finance of America Reverse who helped us, was so good at going over the process and explaining to my mom, and then I would go over it with her. And it was easy to do. The process was quick. Josh stayed on it and he got everything to us right away. The guidance we received was excellent. It went really fast. It would've been only four weeks. It was just a little bit more complicated with my mom than a normal person would be.

    In Texas, she can pay her property taxes for January, February, March, April, in four payments. So, it showed that she was late every year on her property taxes. But, it is an unwritten thing in Texas that the counties allow people over retirement age, if it is their homestead, to pay their taxes over four monthly payments instead of one large payment at the end of the year. I took care of paying them for her, and I always did that. I thought, why pay a lump sum if I can do in four payments?

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

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    StaffLoan ProcessRates

    Reviewed Oct. 10, 2018

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

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    Response from Finance of America Reverse

    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!.

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    Customer ServiceStaff

    Reviewed Oct. 9, 2018

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

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 8, 2018

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

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

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    StaffLoan ProcessRates

    Reviewed Oct. 7, 2018

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

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 6, 2018

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

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    Staff

    Reviewed Oct. 5, 2018

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

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    Response from Finance of America Reverse

    We appreciate you choosing to work with Finance of America Reverse and are pleased that you have a wonderful experience with Will. We work hard to find the best people to provide a great experience for our customers. Thank you for your business and for taking the time to post your feedback.

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    StaffLoan ProcessRates

    Reviewed Oct. 5, 2018

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

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

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    StaffLoan ProcessRates

    Reviewed Oct. 4, 2018

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

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    Finance of America Reverse
    Response from Finance of America Reverse

    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.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 3, 2018

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

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

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

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

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    Customer ServiceStaffRates

    Reviewed Oct. 2, 2018

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

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

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

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    StaffLoan ProcessRates

    Reviewed Oct. 1, 2018

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

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

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

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

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

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    StaffLoan ProcessRates

    Reviewed Oct. 1, 2018

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

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 30, 2018

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

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 29, 2018

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

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

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

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

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

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

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    Reviewed Sept. 29, 2018

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

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    Reviewed Sept. 28, 2018

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

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    StaffRates

    Reviewed Sept. 28, 2018

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

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    StaffLoan Process

    Reviewed Sept. 27, 2018

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

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    Reviewed Sept. 26, 2018

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

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    StaffLoan Process

    Reviewed Sept. 26, 2018

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

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

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    StaffRates

    Reviewed Sept. 25, 2018

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

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

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 25, 2018

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

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    StaffRates

    Reviewed Sept. 25, 2018

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

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 24, 2018

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

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

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    StaffLoan ProcessRates

    Reviewed Sept. 24, 2018

    I wanted to have a security if something would happen to me and I liked the way Finance of America Reverse presented their program. The application process for the reverse mortgage was long, where the application and underwriting took a month, but they did all they could. We just learned about some things and we got some things that we weren't really clear on. Yet Cara was very good and her knowledge was most impressive. She tried to help us out the best she could and I was very comfortable working with her. The rate and the terms have been fine too. Working with Finance of America Reverse let me feel more secure. We just hope that they don't go wrong or that they'll lead us on for a year then hammer us after. Still, if you're considering FAR, try them out.

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    StaffLoan Process

    Reviewed Sept. 23, 2018

    We remodeled and it took more money than we expected. The Finance of America Reverse reps were very pleasant but the process took forever. Things seemed to have to be done in triplicates and it took forever for people to get back to us. The process was painstaking and we thought of canceling it and going with another reverse mortgage company but other than that, it got accomplished. The whole process took about three months. Also, there was a difference in the amount of money that we were supposed to get but that got squared away. We got about $50,000 and another $50,000 in escrow for the insurance and taxes.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 23, 2018

    There was a need to cut down expenses. I had worked with Finance of America Reverse two years ago when we got approved but we didn't make the grade. I liked their service the first time around so I came back to them two years later and the application process went smoothly for us. The loan officer was great. I'd been recommended to her the first time around, so we went to her again. We just didn't have the value of the house that we needed to meet their financial expectation. The big thing was with two-year interval, the value of the property went way up. So by the time we got to the second time, we were okay. The loan officer called us a lot and was always there when we needed her if we had any question. A couple times, she had to go back to her people to get a break on their financial requirements which we got. So, she was very considerate, very polite, couldn't be any better. The whole process took at least a month.

    I wish Finance of America Reverse could make their process less complicated, less forms. I've never signed so many things in my entire life. I'm an attorney and I sign things that I would never have a client sign. But it was necessary to get this thing through, so I did it. In terms of rate and terms of the mortgage, it is a kind of thing that you do what you have to do. We may have overlooked some of the problems that we weren't really happy with, but we want to get the transaction through. I'd have my friends go to Finance of America Reverse. They're very good. The two different people we interviewed and we worked with in going through the questions are very, very nice and very helpful. Our experience with them has always been good.

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    StaffLoan Process

    Reviewed Sept. 23, 2018

    The mortgage company was absolutely incompetent and unprofessional. They didn’t know what the hell was going on. They waited until the last minute to give us all the stipulations and prolonged the mortgage thing for about a month. That was a long time and all in all, the process took four months. I'm retired and I was buying a house. My lawyers, the sellers and their lawyers were mind-boggled by the whole thing. It was unbelievable. Finance of America Reverse put us all through hell. It was an absolute nightmare and I never wanna go through it again. I was very dissatisfied.

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    Response from Finance of America Reverse

    We appreciate the opportunity to address your situation, Geraldine. In processing a reverse mortgage application, it is not always possible to anticipate stipulations and challenges at the onset of the process. In your particular case, we received erroneous information from the realtor that the property you wished to purchase was already hooked up to public sewer lines, when in fact, this had not been done, thereby causing a two month delay. When doing a reverse mortgage for purchase, or when purchasing any home, the mortgage lender relies on accurate information from the seller's team when judging time frames and informing the customer of what needs to be done to close on the home. We just didn't get that accurate information in a timely fashion and it caused an unavoidable delay. We regret that this left you with feelings of dissatisfaction.

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    StaffLoan ProcessRates

    Reviewed Sept. 22, 2018

    Doing a reverse mortgage was the right thing for me to do. Finance of America was ranked number one everywhere I looked, and they impacted my life in a positive way. I had very good interactions with the sales rep. If she had any questions, she’d get me through all of those immediately. The process of getting the mortgage was very easy, smooth and computer-oriented. The application and underwriting took three weeks and the rate and terms were very fair. Finance of America Reverse is a very professional group that knows what they're doing. Deal with them.

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    StaffLoan Process

    Reviewed Sept. 22, 2018

    I needed to have a reverse mortgage as part of my retirement plan. Finance of America Reverse gave me the best terms. However, the process of obtaining the mortgage with them was like pulling teeth. It was a long, drawn-out affair. I don’t know all of the rules that they have to abide by. But it was not their fault. The government started this thing and they backed it, but they made me go through a lot of bells and whistles. I got some money when I had a dock that had to be replaced. We’re getting ready to do that now. And before they’ll give me a loan or credit down the road, I gotta get the dock fixed right now. They set aside money for the dock, but I can’t get to the money until after I pay for it. Even so, the rep was more than helpful. But she was pregnant so she wasn’t there for the last couple of weeks. Nevertheless, Finance of America Reverse did their job and their closing cost was a little lower than everybody else.

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    StaffLoan ProcessRates

    Reviewed Sept. 22, 2018

    I wanted to reduce my monthly expenses, so I decided to do a reverse mortgage. I live in a condo that was not HUD-approved and Finance of America did the work to get it approved. The application process was easy enough, but it took a long time to get the HUD approval. The rate and terms I got were fair as well. The representative's diligence also impressed me, but Finance of America's brokers have been calling me too much, asking me if the loan has been approved or if we have the payoff letter from the bank. Other than that, Finance of America has been very helpful. They undertook a task that I didn’t think anybody would do.

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    Loan Process

    Reviewed Sept. 21, 2018

    I ran out of money so, I looked into a reverse mortgage. I am deaf and Finance of the America Reverse was the first one that I could understand. I spent my life not being in debt and now I am in debt. I don’t especially like it, but it was something I had to do. The process which took three months was extremely horrifying, stressful and no fun at all. It might have been better if they could converse between each other. Nobody seemed to know what was going on and everybody was blaming someone else. It’s not something I’d go through again and I would not recommend to anyone else.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 21, 2018

    I went to three lending providers, talked to them and wanted Finance of America. They have more friendly and good people. There's a lot of paperwork for the application. It took a couple of months because we're trying to get things together and I was gone quite a bit. But I finally got their appraisal. The process worked fine for me and the rep was great. She called me. If I needed to ask her something, I called her and she was always willing to answer my questions. They were pretty easy to deal with and I would recommend them.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 21, 2018

    I was in the hospital with a heart operation and my husband was in for three months. When I got out of the hospital, he was still in and then he died. Things were really going downhill. There was still a $5,000 balance on the mortgage and the mortgage company was really pressing me. Plus there were two of us in the hospital at the same time. One bill was $80,000 and the other one was $100,000. I don’t have to pay all of that but there's pretty much I have to pay and I'm trying to pay them. Everything was crashing on me and I was worrying whether I was gonna be thrown out in the street? I was really in a mess.

    I was trying to listen to this guy, Robert. He was calling here all the time and he was very nice. He was from Finance of America Reverse and he told me to call in any time if my daughter or I had a question to ask him. I didn't know what to do so I talked to the lawyer. I explained everything to him but he said that the mortgage company wouldn't be able to do things quickly. I also discussed it with a couple of family members. Different people said they wouldn’t get mixed with the reverse mortgage company and that the company would take the house from me. But I told them that was not what the man had told me. I also asked my daughter what she thought I should do and she said I didn't seem to have too much of a choice. So I said I would go ahead with this.

    From the time Robert called here, the process took two months or more. He called me almost everyday, asking how I was. He happened to call me one day and I told him I didn't know what to do with the paper that I had gotten back from FedEx. I had signed it and I was sending the envelope back but FedEx wouldn't take it from me. He told me he would call back in about five minutes and when he came back to the phone, he said it was taken care of. He had talked to a girl and they were picking it up at 1 o'clock the next day. No matter what I asked him, he was very nice.

    He also told me everything. He would call me ahead of time to tell me who was coming and on what day and time. There were two women and two men who came here at different times. They would tell me how to sign, ask me questions or fill out something. And everybody was very nice. They would explain what they were for and what they were doing. The first lady came to make sure I understood what the reverse mortgage was all about then I could ask her things. She also left her name and number, and told me to call her anytime if I wanted to. On top of that, Finance of America Reverse worked with me. I'm on one Social Security check and when I told Robert I couldn't pay so much, they cut the payments down low that at least I could pay something. I would recommend them.

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    Staff

    Reviewed Sept. 20, 2018

    I had a mortgage with the Rocket Mortgage first but I’m not sure what the deal was. They gave me some information and then I started comparing it with everybody else’s and it just didn’t match up. Then, I went to AIG and I thought they were a little arrogant in the way they treated me. They were unlike the person from Finance of America who was very helpful. He never pushed or tried to force anything. The rep sent me a list of things that I needed and I sent them back. I talked to him several times about the things that I didn’t have and what I could to get them. I talked to him once a week for a month and sometimes more. I looked at about three different reverse mortgage possibilities and Finance of America gave me the best solution and the price is a little better than the rest. Once I got decided that I was going with them it was much quick than I anticipated.

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    StaffLoan ProcessRates

    Reviewed Sept. 20, 2018

    Finance of America Reverse was great. I liked their integrity, their reviews, and how they presented themselves. I wanted to have a reverse mortgage in my retirement plan to get extra income. I called them and they sent me an application. The loan officer that I worked with was trustworthy and responsive. The whole application process was very easy. It took over a month, but that was by my control. Also, the rate I got was the best by far.

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    StaffLoan ProcessRates

    Reviewed Sept. 19, 2018

    I needed to supplement my income, so I did a reverse mortgage. Finance of America Reverse was the most courteous among the different providers I went to. They had the best answers, they walked me through every step, and they were very personal. Everything was done through the internet and phone, and then they sent two certified people to my home -- one to fill out the application, and the other one for the closing. The process was very easy. It took about an hour when they were here first for the application, and then the same thing for the closing. The lending officer was a person who cared. Their rates were very competitive, too. Finance of America Reverse has been great.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 19, 2018

    I’ve been with Finance of America Reverse for five years. They did the original financing of my reverse mortgage. They contacted me and they jumbo sized it to give me a little extra money. However, I received the check but I never saw the adjustment in a sheet, which I’m accustomed to. I don’t understand it and the interest rates are too high. But I don’t have any problems other than that. The process was very easy and quick. The whole thing took me 30 days. I appreciate my loan officer, Robert, very much. He was knowledgeable and acted quickly whenever I called.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 19, 2018

    We needed a little help as my wife and I did not wanna work anymore. Between our Social Security, we can just almost pay our bills, so it was convenient for us to get a reverse mortgage. We talked to a counselor from Finance of America who suggested some things. We were also told about lowering the interest rate that they had on the prospect sheet they sent us. I told them I wanted the interest rate to go down and it did. I had several other offers from other lenders and one of them sent us a prospectus but none of the other offers were as good as Finance of America's.

    The application took about a month wherein most of the stuff was FHA-required. We were happy with the lending process, however, our loan officer David told me really good stories that would've been great if they would all come true. He told me that Finance of America handles the afterward after the process is done but they don't. I got letters from another outfit called Celink that services the loan. He also told me that all I would need to do was make a quick phone call and I’d have the money in the bank the next day because we went with line of credit. It was a lie. You have to fill out a form, either fax it or email it to Celink, and then wait about a week before you get your money.

    I told also him that I wanted to pay the property taxes and the house insurance on my own, and he said that I could do that. I already have the insurance set up where it came out of my bank automatically at the beginning of every month, so it didn't hurt. Finance of America set aside $28,000 to make sure that the property taxes and insurance are paid for God knows how many years. It is mine but it is not available to me. And after talking to the counselor again, we were told that was a common factor and everybody does that. I wish that I had not been misled. I would be much happier if David told me straight up that was the way everybody did it and I could have accepted that. I hate being lied to, especially by money people.

    In addition, every time I've tried to call David, I had to wait for a return call which I did not like at all. I've also tried to call him six different times since we closed the loan and I have never gotten a return call. It's been partially frustrating with Finance of America. Now that I have learned the hard way that this is just the way it's done, I would have gone to a local company.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 18, 2018

    I quit working, so I needed a reverse mortgage so that $800 and some wouldn't be taken out a month for my house. I answered an ad and the rep from Finance of America Reverse called me back right away. He was a hustler. Their application process was a lot of work, especially when the notary came twice and I had to fill out 30 signatures. Every name that was ever accidentally printed or used or typo, they wanna know why that happened. I was a hustler too. I copied, ran right away, did things and made things happen. The guy came out, appraised the house and took pictures of everything. So it took about a month for the application and underwriting process.

    The loan officer I worked with was a great guy. He called me in the morning at 9:30 if he had anything and I could call him too. He worked with me and was nice to work with. The only thing wrong was that he didn’t communicate with Celink, the guys who manage my loan now. He kept telling me that Celink would send me the money and I'd have to pay the taxes and the insurance. But Celink kept me telling me that Finance of America Reverse would take care of it. The loan officer didn't know that but Finance of America Reverse took care of it. Overall, Finance of America Reverse did a good job and I would recommend them to other people.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 18, 2018

    I wanted to have reserved money and to have a line of credit in the event that I needed it, not because I need it to survive, but when things start to go south as I get older. I chose to go with a reverse mortgage. If I need to have somebody to come into the house to take care of me, I would not be in the best state of mind to make those kinds of decisions, so I made it early. I did a bit of homework and chose to go with Finance of America Reverse.

    During the process of obtaining my mortgage, I have to go to the, “Okay, fine, send me the paperwork.” I prefer not to do things online ‘cause nothing is secure when I get right down to it. I was in constant phone contact with the people at Finance of America Reverse. They were willing to answer my questions and if they didn’t have answers to my questions, then they would find out. The reason I asked some of the hard questions is that I’m a retired financial planner, so they weren’t expecting some of the stuff that came out. I went through the financial counseling and by then, had the appraisal on the house, and life went on. Everything went fine and we closed.

    I was very surprised with how long the application and underwriting process took. I wish I had been able to get a loan through that fast. The rep who I worked with was pleasant. She’s young and probably has not been in the business that long so I learned some things about reverse mortgages that I wasn’t aware of, and she also learned some things that she wasn’t aware of. It better prepared her for her next client, too.

    Finance of America Reverse should be a bit more careful about their verbiage when they refer to gross. They make it sound like I'm getting an interest, which I'm not. So what they’re really charging me is four point something and my gross rate will be equal to that, tied to labor, etc. But it’s not an actual interest per se that whatever be accessible other than if I tapped into that line of credit. It’s a misrepresentation unless I ask the hard questions because it’s really based on the value of my property and appreciation.

    I hate being in debt ‘cause it has always been my goal to stay out of debt. I pay things off as quickly as I possibly can. So working with Finance of America Reverse makes me a tad uncomfortable. Just before I paid this house off, I’ve never owed that much money to any one person. This was my fourth purchase and so the first thing I wanna do is pay them off and I did. To me, that’s money in the bank. They can’t take my house away if all I have are property taxes and insurance. I don’t think the fees for the line of credit I got was unreal. The experience with Finance of America Reverse was stressful, but that’s just me because I’m going on a hook and putting my name on the dotted line, even with only being, at this point in time, about approximately a $14,000 balance.

    Other than that, I have been inundated with phone calls about Finance of America that is not them but evidently, my information was shared and I’m not caring very much for the unsolicited phone calls coming in. I don’t like that. I’m finding myself having to block at least one number per day. I know they sell those stuff. They share it with people and the people they share it with, share it with somebody else and right on down the line. I don’t feel like getting up and answering my phone. Thank God I have caller ID. When it says an unknown number or private number, sorry. Even Finance of America has numbers that they can call it from my area code.

    I asked the agent who I was working with one time, and she said that they can do it from my area code so it looks familiar to me. I said, “I’d rather it came from your area code. I know where you are. So if you want to talk with me, use the same number every time you call or you’re gonna find yourself blocked.” It might be easy for them and it might save them a few nickels but they could lose a customer doing that, too. Other people should investigate Finance of America Reverse on their own. I would throw a few questions at those people and I would be available to them if they were concerned about something that I might be able to clarify a bit more and redirect them with the questions that they needed to ask to get their question answered.

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    StaffRates

    Reviewed Sept. 17, 2018

    I was in a financial hardship so I got a reverse mortgage as part of my retirement plan. It’s the best thing for me and the only way I can do instead of me borrowing money from any bank or loan company. I was in the AAG first but the people there were lousy and they were giving me a runaround. They didn’t want to release my file to Finance of America Reverse. And then Carol, a rep at Finance America, did something, so they released it to them. She was really on the top of it when I applied to them.

    The process at Finance of America Reverse didn't take me long but I was on hold because I needed important documents from my lawyer and ex-husband. I’m really also surprised about the rate and terms that I received from them as it was really pretty good. They told me that they hold part of the money and they said it's mine, just like savings, and I can take it out. But I said I don't think I'll need that. I’m very happy that I was with Finance of America Reverse. They really care about the people that applied the reverse mortgage to them.

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    StaffLoan Process

    Reviewed Sept. 17, 2018

    Finance of America Reverse appear to have better personnel working with them. I applied for a mortgage there and the process was convenient. Underwriting took a couple of months and they did an excellent job. Their rep was very kind and professional as well. I got a fair deal from them. Finance of America is a good organization.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 17, 2018

    We needed money and when somebody called from Finance of America, we did a reverse mortgage and the enrollment was very simple. The application and underwriting went really quick. The first thing they asked is how much is our property's worth and it was hard to come up with any real accuracy without having a real estate broker. So, I gave them an estimate but it came in lower than I anticipated.

    When the FHA appraiser came out, they said that I was stuck with the worth they give whether I like it or not. It’d be nice if the FHA had said a little bit more. The FHA appraisal is a very small community of about 7,000 people and they pick houses out. Our house is in one of the best neighborhoods and the appraisers pick houses out that were not in the best neighborhoods as examples of what they determine the value of the house was. There wasn’t any house in my neighborhood much as it sold as a value, which was a bad thing. If they found more houses in our area, then our appraisal of our house had been more.

    The loan officer was very good and I liked him very much. The only thing was he said it was gonna close such and such time then he kept coming up with reasons why it didn’t and then it cost a little bit more with the repair work on the house. In my case, they sent out the appraiser and said it needed circuit breakers put in the electrical service. So, I had to spend another $2,000 on that and it took time to get it done. Also, I had to call when I'm trying to get a hold of him and I wanted to talk to him and I usually ended up with his answering machine. I could email him and I usually get an email back, but he wasn’t real good at returning calls and going through his answering service. Still, he was very nice.

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    StaffLoan ProcessRates

    Reviewed Sept. 16, 2018

    Finance of America Reverse is a good company to go with. They have all their ducks in a row to be able to accommodate you. I wanted my daughter to start her new business and I wanted to help her out. But I didn’t want to be strained doing that so I looked into doing a reverse mortgage. The people from Finance of America Reverse were very polite. They asked me a lot of questions about my financial situation and if that house which was paid and cleared for is mine. They also checked my credit. They talked to me about it and ways to improve it. The loan officer I worked with was a good guy too. He was friendly, pleasant and very punctual. He answered all my questions and kept me in the loop. The process was real easy. Thirty days and I was done. The rate was also reasonable and good. It was a great experience and the loan helped my daughter out tremendously. I also did some knick knacks, some updates, around the house.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 16, 2018

    Finance of America Reverse has a very good reputation and they are the ones who other lenders go to for the money. They are very efficient and very good. However, the whole process for a reverse mortgage took a little longer than a month and a half because we had to have two appraisals and get all that set up. The process went very well though and I was quite happy with them. They also have offices that are local here, so that is good. Josh, the gentleman who was my representative with the company was excellent and went out of his way. He walked all the documents over to me, not through mail or Internet. It was more on a personal basis and I felt very comfortable working with him. If he couldn't answer right that very minute on something, he would get back to me, and he always did that very promptly. He was very nice and I was impressed with him.

    Finance of America Reverse did very good although I would rather have a better rate. Also, I don't like that they sell the loans. They bundled the loans and then somebody else services. But even big mortgage companies do the same thing with a regular mortgage. So, Finance of America Reverse has impacted my life for the better. I was either gonna sell my home or do a reverse mortgage. They were a good company to deal with and I was very happy with what they did for me. I would recommend them to anyone.

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    StaffLoan Process

    Reviewed Sept. 15, 2018

    I’m on disability now but I needed to pay off a short-term loan when I had no income. I went down the list that I found online and called several reverse mortgage companies. Kevin, the guy I spoke to at Finance of America Reverse, was most helpful, very informative and sounded like he was very interested in me. He walked me through the process and made it very easy for me to get the mortgage. He told me what to expect and he was wonderful to work with. It was less than a month to get everything through. We’re on an adjustable rate, which had me a little leery. However, for the type of reverse mortgage loan that I’m getting, that’s typical. I was told it could go up as high as 9%.

    Kevin told me that if I ever knew anybody who had any questions about reverse mortgages, he would be happy to answer them. My real estate agent had some questions about it and wanted to be more informed, so I referred him to talk to Kevin. Working with Finance of America allowed me to take care of what I needed to get done and I highly recommend them.

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    StaffLoan Process

    Reviewed Sept. 15, 2018

    My mother had no mortgage and at one time, our house needed cosmetic repairs. Also, we wanted to be prepared in case we needed money for any reason. I liked the way I was treated by Finance of America Reverse from the time I started researching mortgages. Their reps were very informative and professional. They got back to me in time and made sure I was comfortable with the process. I like the way they do business. I recommend this company. Everything was done very well.

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    Reviewed Sept. 14, 2018

    Finance of America Reverse responded first when I got bogged down in a lot of debt. At that time, it didn't look like I could get out unless I get some help. And I was skeptical at first because I had read some things other people say about them. That you don't have an option at the end about your house and that they take it back when you die. But after we went through the process and understood it, I began to trust them. During the lending process, we didn’t take into consideration that my brother was living in our house and there's not a lot of proof that he lived there. But once we got the proof, the whole application process was finished.

    Furthermore, while it seemed like we were getting a lot less for the value of the property, when we looked at the rates and what was being covered and how a portion of my money is put aside, we thought it was a good amount. In closing, working with Finance of America made our life a lot easier. The loan officer encouraged us to hang in there and we were able to complete the application and underwriting process in 45 days. I would recommend Finance of America Reverse. In fact, I’ve already talked to someone about calling them.

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    StaffLoan ProcessRates

    Reviewed Sept. 14, 2018

    The process of obtaining the reverse mortgage with Finance of America took a month. But we thought that it was right and we were checking it out as we went.

    The loan officer I worked with was straight up with everything. He told me exactly the way it was, what I'm gonna get, and what it will gonna cost. He explained everything to me very well. In terms of the rate and terms, I compared it to everybody else and it was good. But it cost is a little bit and the rates went up during that month.

    They also didn’t keep us advised at the end. They put a deposit in my account but I didn’t know exactly when that was gonna happen right off and what we had to do. Now that I'm getting the monthly statements, everything is fine but there was a gap. Otherwise, the reverse mortgage helped my finances a lot and it's been all good. And if a friend of mine asks me about Finance of America Reverse, I'd tell them they're the one to deal with.

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    StaffRates

    Reviewed Sept. 14, 2018

    We thought about a reverse mortgage for a while, and then we went with it. The reps of the Finance of America Reverse were excellent and I was impressed with their upfront honesty. Everything was as they stated. It took three weeks for the application and underwriting to be completed and the rates were excellent. Working with Finance of America Reverse has definitely helped me. I've put a new AC in the house. I got a new oxygenated portable thing, and I got insulation board on the walls and a whole bunch of little things.

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    Customer ServiceStaffRates

    Reviewed Sept. 13, 2018

    I'm 75 years old and I needed to pay off my credit card. I replied to something from Lending Tree and they gave my name to different mortgage companies. I was contacted by several but then Finance of America was the one that got back to me promptly. I went with them and we had somebody come here and look over our house for evaluation. The loan officer said I was eligible for $1,000,000. Still, I only took what I needed at that time. Also, while I would always like to have a lower rate and not have to pay anything back, I was satisfied with the way the rate came out. I got a fair deal. And so we finally took out the reverse mortgage, signed a whole lot of stuff, and I was happy with the lady I dealt with. It worked out for us.

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    Reviewed Sept. 13, 2018

    When I ran out of money, I chose to do a reverse mortgage and the interest that Finance of America Reverse charge had a fraction of a percent better. The application and underwriting process took a month. It was terrible and I didn't like it one bit. I signed my name so many times, and there were two major signing sessions where they came out with about an inch and a half of paperwork each time and I had to sign on about over 400 pieces of paper. It’s a total baloney. The person that came out and handed me the packet does not know a thing about it. In terms of rate and terms, I'm supposed to be able to negotiate. But I was told flat out that unless I want to take more money on the house right away, there was no negotiation. But I didn’t need that much money and it didn’t make any sense for me. It wasn’t worth it, but it's all done now. But I wouldn’t go through that again. I’d sell the house and be done with it and go into a condo.

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    Response from Finance of America Reverse

    We appreciate the opportunity to address this situation, and as we strive to provide excellent customer service, we would like to explain the necessity of signing, what may appear to be quite a bit of paperwork. All of these documents are legally required and are actually there to protect you. They insure that every facet of your loan has been presented to you and nothing has been excluded. If you have any additional questions, please feel free to contact us for clarification. It has been a pleasure serving you!

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 12, 2018

    The application and underwriting process at Finance of America Reverse took about a month. It was a long and drawn-out affair but it was necessary to do the transaction. The loan officer seemed very personal. He was able to answer all of my questions and address my concerns. I chose to have a reverse mortgage as part of my retirement plan as it fit my situation. The bad thing about it is the upfront cost is excessive. Nevertheless, doing the mortgage has simplified my life tremendously.

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    StaffLoan Process

    Reviewed Sept. 12, 2018

    When I went to Finance of America Reverse, I got a lot of information from them and they were willing to talk to me. I figured they were alright. Obtaining a mortgage from them was very easy. The whole thing was over in about two weeks. Moreover, the loan officer was great. He was down-to-earth and very personal. Finance of America Reverse was very fair on everything, they took a little pressure off us, and our experience turned out well. Their reps were very helpful and knowledgeable also. Everything fell into place in the end. I would tell friends to call them.

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    Reviewed Sept. 12, 2018

    I am old enough where I wanna enjoy the rest of my life and I needed the funds to do that. Finance of America Reverse has the jumbo reverse mortgage and they did a fabulous job when I went through the application process. The application and underwriting took about 30 days when I thought it was gonna take 90 days. It went smoothly because I have a clean slate when they did my credit and everything was fine when they checked out my background. It’s my first experience and David, the fellow who represented me, did everything he said he was gonna do. He was the only guy with the company that I talked to. Every time I called him, he responded and he answered my questions successfully. I was very happy with it.

    I took money upfront and then I get a monthly payment. Also, I got a fat flat rate in the beginning and now I get a monthly deposit in my checking account for five years. Now, I’m getting on with my life and I don’t need to worry for a while. I’m 76 years old and they say I only have five more years, so I’m gonna enjoy it. It was a wonderful experience with Finance of America Reverse and I’ve given Dave’s name to several people.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 11, 2018

    I was in need of some money quickly and I didn’t want to make payments on a loan. Finance of America Reverse seemed like the best option so I went with it. After I sent in an online query, I got several calls and the person I worked with was one of the first to call me. I liked how she presented herself and what she had to say. The process was easy. I got into it and got more information but I didn’t realize that I would have to have an inspection done in my house just like selling a house. I had a couple of things I had to fix and they had taken money out to repair things like a garage door and that kind of thing. I didn’t realize that I would have that kind of obligation before I could get a loan. So, that made it more challenging because I had to put that money upfront but I got the repair done.

    The application and underwriting process took longer than normal only because I was dragging my feet. I made the call in March and I got the loan in August. So, part of that delay was because I kept putting the repair off and I tried to decide if reverse mortgage is what I wanted to do for sure. Nonetheless, the loan officer was very responsive. If I called and left a message, she would call me back and answer my questions. If she didn’t know an answer to something, she would find out the answer and call me right back. I was very pleased with it. Overall, I got the money that I wanted to borrow and I was able to accomplish what I wanted to accomplish. When I thought there was a problem, it got resolved right away. It was a positive experience and I'd use them again.

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    Reviewed Sept. 11, 2018

    I needed enough income in case of an emergency. Currently, I’m on a fixed income, and it wasn’t allowing me to have any money set aside to take care of the maintenance of the house. Also, an emergency happened and I just put in a new water heater in. I got a reverse mortgage and Miranda of Finance of America Reverse did a great job on my application. She took care of everything. She communicated with me to make sure everything got done right. If there was a problem, she would call and let me know about it. Their application process was very simple and people came to me. It was not like I had to go running around.

    Although it is not a cheap loan to take, with all the cost and the financing, it’s a loan that is not gonna hurt me. It’s gonna hurt my inheritance because I plan on staying in the house and I talked to my kids about it. They told me to go ahead and get the reverse mortgage. Overall, getting one with Finance of America Reverse was a very easy process. I have told the same to other people and recommended the company.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 11, 2018

    We had tried to get a loan with another company called Sure Lending. They told us that it was gonna be easy, everything was fine, and that we didn’t have to make a payment in March and April. So, we listened to them and before we knew it, we had gotten behind on our loan payments and there was just no coming back from that. We were under so much stress and were afraid they might try to foreclose. Plus, my grandson had a broken leg.

    I started thinking about a reverse mortgage. My husband and I were getting up there in age. If I were to go before him, he’d have a trouble going through the process. I wanted to make sure that he was well taken care of. I ended up talking to different places. Then once I talked to Miranda from Finance of America Reverse, she told me to talk to my husband to see how it would work and that she would call me the following day. She did and I told her that I wanted to take a little bit more time. She said that it was okay and that it was great because she was gonna be out of town. She called me back after she got back and we finally agreed on going through everything.

    Miranda was a very nice lady to talk to and easy to work with. She was not demanding or forceful like the other ones I tried to talk to. She gave us three options and told us which she thought was our best option. We also thought it was our best option and we went from there. I wish we could have gotten a fixed rate, but we wouldn’t have gotten enough money to buy a vehicle, which is what we really needed. The process was very quick. They wired the money when they said they were going to. Everything was exactly the way they said it was gonna work. I would really recommend them to anybody.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 10, 2018

    We had 401(k), but we didn’t have long-term health care insurance. When my husband got Parkinson’s Disease, everything went into his care when he went into a nursing home the last two years of his life. I then decided to do a reverse mortgage and I did it with Finance of America Reverse. I thought it was well done. They were very professional. They had the answers that I needed, and they always returned the calls in a timely manner. Mainly, it was one officer that I dealt with and then other people came after that. The whole process took a few months and I was surprised that it took that short period. The rate and terms were fair too. I had a good experience. It’s been easier for me. I’m 73 and I didn’t wanna go back to work full-time, so working with Finance of America helped.

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    StaffLoan Process

    Reviewed Sept. 10, 2018

    I was looking to have a line of credit and extra income, so I decided on getting a reverse mortgage. I ended up working with Finance of America Reverse given that their people I talked to knew what they were doing. I had to take the FHA counselling session, then somebody was sent to handle the application and then they sent an appraiser down. The process took around 31 days to complete and it was straightforward and transparent. Working with Finance of America Reverse had taken some worry off me because I now have a source of funds if anything in the household needs major repair. I was also satisfied with how my experience went and would tell people to check them out. I’m happy with them.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 10, 2018

    The mortgage process with Finance of America Reverse didn’t take very long but I was real disappointed in the guy who did the appraisal. There are seven sections in the subdivision we live in and we're in the most expensive section. But he took all the sections together and divided it like we were in the middle. My house is worth a whole lot more than what he said on his report. So I didn’t get near as much as I should have from my mortgage. That wasn't Finance of America's fault though. They couldn't get him to change it. The only thing that I was dissatisfied with was that they didn’t work hard enough to get me the right rate.

    Other than that, I liked the loan officer very much. She was always available to answer any questions I had. I also told her about the lady came out to the house to have us sign all the papers. She went through that really fast and she didn’t explain things to us very well. Then she had to come back three times because some of the things weren’t signed. So that part was not very good. But Finance of American Reverse knows about her and they're gonna attend to it.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 9, 2018

    I called several decent finance companies that did reverse mortgages. During our first conversation with Cody from Finance of America Reverse, I really liked the information that he gave me and his demeanor. He also asked details that others didn’t ask. Obtaining the mortgage took two months and the process was very, very complicated. I have only lived in my home for about five months and there was a lot of verifying that this was my actual residence. I had to get verification of that, like electrical bills. I also had to show that my driver’s license showed this address. There were several things that Cody worked really hard on to get this all completed. Overall, Finance of America Reverse was very efficient. They sent people to my house that explained the papers I needed to sign and they were very responsible in returning my calls.

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    Customer ServiceStaffRates

    Reviewed Sept. 9, 2018

    At our age, we're not going to do any moves in the future and we decided to age in place. But it felt like we needed to do some improvements to the home to make it more suitable for our needs. We decided on a reverse mortgage so that we could do what we wanted to do with the property. We started out initially with AIG but they were not a good company to deal with. It was very difficult to talk to anybody. They were not returning phone calls or emails. But the biggest problem was that when they did the appraisal of the property, it was so far below the market value of the property. We notified them of the discrepancies but they did nothing about it. They also quit answering phone calls and emails.

    When we went with Finance of America, the difference in appraisal was $71,000. Plus they answered phone calls and emails properly. They worked with us. We started roughly on June 20th and the loan was funded on August 1st. They were very prompt and the rate we were given was also the best for our situation. We're comfortable with it. Finance of America Reverse is a very professional company and we're satisfied customers. I would recommend them to a friend.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 8, 2018

    To start saving a little bit of money, I went for a reverse mortgage. The process of getting the mortgage from Finance of America Reverse was good. The application process was fairly easy and it took about four weeks. The representative was also friendly and the communication with him was excellent. The rate and terms seem to be fair as well.

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    StaffLoan Process

    Reviewed Sept. 8, 2018

    I saw Finance of America Reverse advertised on the internet and I tried. They sent me all the information I needed. During the process which took over a month, they had me do everything but it was not difficult. The rep was very nice and didn’t press me to do it. Finance of America was a very good company and they were very professional. The reverse mortgage worked for us, I feel very comfortable and my life is okay. I am now free.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 7, 2018

    I was tired of living paycheck to paycheck and not having enough money to cover my bills. I had had a car wreck and had to buy a different car and some medical expenses and it got so overwhelming that I had to do something different. I'm a fairly frugal person who worked hard to try to spend my money wisely and I did some comparative shopping. I had looked at a couple of other options besides Finance of America and felt that their customer service was really good plus I liked the woman that I worked with on all of the initial paperwork.

    I started filling out the paperwork and application in April and it was a little draggy toward the end. Getting the appraisal and all of that didn’t go quite as efficiently as I had hoped. I finally got the final thing done in early August. I felt that the process from April to August was a little bit slow, but not terrible. My loan officer, Katie, was very knowledgeable and she kept me informed all along. She was very good and was quite a good representative. I felt as if the fees to borrow my own money are incredibly high, but then, when I investigated other companies, they were comparable. I would recommend Finance of America to a friend.

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    Reviewed Sept. 6, 2018

    I'm 70 years old and I had my house paid off but I don’t have anybody to leave my house to at all, so it doesn’t make any difference what happens when I leave. My house is almost half a million dollars and it still cost me a couple thousand dollars a month to live in. So, I decided to get money to put into an account in place and just use that for the taxes. I was told that the Finance of America Reverse fees and charges are not nearly as high as the others so I decided to go with them.

    Obtaining the mortgage was easy but the underwriters gave me a hard time and it was very aggravating. They kept asking me ridiculous questions. I'm giving them the damn house, so give me the damn money was my attitude. Also, the Finance of America Reverse rep was nervous. She got irritated because I was irritated but she did all right and she's really a wonderful person. She might be a little fragile for that type of work and she shouldn’t let things hurt her feelings so easily. The application and underwriting process took about two weeks and the terms of the reverse mortgage were good.

    Finance of America gave me the money that I needed and that meant a lot. I used the money upfront to pay off all my credit card debt. It increased the take-home pay that I get to keep by a couple thousand dollars a month, plus I got money still left to pay insurance and taxes for the next 15 years. I would tell a friend to go ahead and do it with Finance of America Reverse.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 2, 2018

    We own two houses. I have a daughter who lives in one of the houses and her husband passed away. She doesn't have any money, so we were in a financial situation. We went to Finance of America Reverse for financial advice then we went through their application process for the reverse mortgage. The process was good and it took a couple of months. Andrew, their rep, set things up for us. He was very understanding of how we felt about the whole situation and did his very best to try to explain everything to us so that we could understand it.

    But when I received my first statement, it was a lot to take in my age and I really didn't quite understand about what it was gonna cost me. I called up after I got the statement, but I still would like to talk to someone else again about it. The process costs so much money, too, and if I wasn't in the situation I was in, I never would have done this. The part that I also didn't quite understand was when I got a $49,000 statement. I also got something in the mail yesterday that told me that I had to send $75 out to The Commonwealth of Mass. that they didn't take it out at that time. Before I closed on the deal, I told Andrew about that but it didn't get through them fast enough.

    Also, I told Finance of America Reverse that I was taking $2,000 out since I wanted to be able to have cash in my hands from my home equity loan because I could have paid it off, but I was hanging on to it because I didn't know what we were gonna do financially. I took out the $2,000 and I ended up paying back $1,700 of it. So, I didn't really gain anything. Plus, I didn't understand about paying insurance every month on the money that we borrowed on the reverse mortgage.

    Then, when the underwriter that came to my house, I asked him to explain the whole thing. He was very good and he checked up on me later on. Still, the whole thing was way over our head for our age and I wouldn't tell someone to do it. I also had to pay so much money to that man and I didn't know that I had to pay for that. Now, I'm getting things in the mail from other companies and I didn't know that was gonna happen. All in all, I'm flabbergasted with the whole thing. Finance of America Reverse should be more thorough.

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    Reviewed Sept. 2, 2018

    Finance of America Reverse seemed to be good when I talked to them. My rep was really nice and it didn't take that long until I got everything together. I'm satisfied with them.

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 2, 2018

    My husband and I are both elderly and we got some bills that we wanna get paid off and some reconstruction or home improvements that we wanted to do so we went into the reverse mortgage program. We tried one other company and was not satisfied with them, so we told them to forget it. My husband looked up some other ones online and Finance of America Reverse was the one we were happy with. During the process, they wanted credit records, the abstract papers and all kinds of paperwork that we had to round up, go through and look up. The paperwork was the biggest problem and the biggest headache but we got through that one. The application and underwriting process took a couple of months and we were satisfied with it until afterwards when they held out the money to pay the house insurance. I was having trouble with them on that end of it. They also owe me a back payment.

    My insurance lady is the one handling it and she called them earlier this week or last week. They said that their system was down and they would call back the next day. They said that they would let her know as soon as the check is in the mail or getting ready to be processed and then, they would start paying it once every year instead of every month like I was doing. Once they get this insurance thing straightened out and they stop sending me delinquent bills, then I’ll be fine. I told my insurance lady that if I get canceled because they are not paying my bills, I’m gonna be very hot. She said that I was not the only one that’s gonna be very hot, so she’s working with it and the last I heard, she was about to get it all worked out.

    The people at Finance of America were very cooperative. We worked with Dave who was very nice and friendly but once we got all the paperwork signed and we were no longer a client, he was gone. We couldn’t get ahold of him for anything though we still had questions we wanted to ask. I left him calls, messages and emails but after we got the money, he never returned another phone call, email, or anything else. I had to call the main office and get the phone numbers of the people that I needed to talk to. Still, I would recommend going with them because Finance of America Reverse was very good during the whole process and you’re at the top of their list. They were also easy to work with.

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    Response from Finance of America Reverse
    Paula,
    We value your feedback. We understand that pilled up bills can be stressful and glad that you chose to work with Finance of America Reverse to help you in your time of need.
    We will review your loan and reach out to you with any follow up questions you may have.
    Thank you for your business.

    FAR

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    Customer ServiceStaffLoan Process

    Reviewed Sept. 1, 2018

    My Finance of America Reverse representative was very helpful and she answered a lot of questions. The upfront cost was expensive but it wasn’t any more than anybody else would be. Also, the application process involved an awful lot of paperwork and it took a long time but I understood that that was true every time. It was difficult and I’m ignorant of all those steps, so it was good to have someone that was clarifying things as we went. The process would have been impossible for me to figure out without my rep. She was very respectful of me and answered my questions as if I wasn’t ignorant.

    It has been a really rough time for me because what I had intended to use the upfront money for, I ended up having to use for something else because my house got struck by lightning and about a month after, my husband died. My insurance was slow in paying but I had to get this house thing fixed so I could go back to my home, and the Finance of America Reverse money was very helpful in that regard.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 1, 2018

    My home was going into foreclosure and I decided on a reverse mortgage. The gentleman I worked with at Finance of America Reverse, Sherman, was super fantastic. He handled everything. I talked to him on the phone and I answered his questions. Finance of America Reverse sent a notary out and I read the papers and signed them. The application and underwriting process took about a month altogether to finish. The loan officer was a super nice guy and he was very understanding of my problem and did his best to speed the process up. He was so excited when the appraisal came in and that everything was working to my advantage. He was very prompt in calling me back whenever I had a question or answering the question as quickly as he could. I was pleased with the rate too.

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    Reviewed Aug. 31, 2018

    I looked at several companies on the internet and I saw the ratings of Finance of America Reverse. I chose a reverse mortgage for my mother and they made the process of obtaining the mortgage easy for me. The rep was very good and I was very satisfied that I was updated constantly on what was going on. Everything went smoothly and the rate was good. It was something that my mother needed to do and it was for her house. She didn’t have any money other than Social Security and now, she has the money to pay her caretaker. I would recommend Finance of America Reverse.

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    Reviewed Aug. 31, 2018

    My wife passed away a year ago and I was trying to decide whether I needed to move to another house or do something here. When she passed away, a lot of the income had disappeared so I had to cut expenses and reverse mortgage worked best for me. Getting a reverse mortgage is about talking to the right people at the right time and I ended up doing it with Finance of America Reverse. The decision regarding the reverse mortgage was mine but the reps were helpful with any questions I had. Everything with Finance of America Reverse went smoothly.

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    Reviewed Aug. 31, 2018

    Finance of America Reverse was cheaper when it came to reverse mortgages and I had no problems in the process which took two months. It was very good but less paperwork would be nice. Barbara, the rep, was very nice, accommodating and knowledgeable. She walked me through everything and I felt very comfortable working with her.

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    Response from Finance of America Reverse
    Ronald,
    We appreciate you choosing to work with Finance of America Reverse and are so pleased that you had a wonderful experience working with Barb and that she was able to help you understand details of a reverse mortgage. We work hard to find the best people to provide a great experience for our customers. Feel free to reach out with any follow-up questions in future.
    Thank you,

    FAR

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    Reviewed Aug. 30, 2018

    We inherited our grandchildren and money was getting tight. So, we went through the process of obtaining a reverse mortgage from Finance of America. The process was a bit difficult because it wasn’t all cut and dried but it was okay. Our loan officer was Tim and he was diligent. All in all, the application and underwriting process took about three months. During that time, the guidance they provided me was good. Their rate was good as well. The mortgage made things easier for me because my real estate taxes and my homeowner’s insurance were being paid through it. I get $300 a month too.

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    Reviewed Aug. 30, 2018

    Our financial situation was not the best and we had some things that needed to be taken care of at our house that we couldn’t afford to do. So, we talked it over and decided that we would try to see if we could get a reverse mortgage. I called the number on a packet that was sent to me a long time ago. It was a deal about a reverse mortgage and it was from Finance of America Reverse. The loan officer whom I worked with was the best person I ever talked to. Her name is Shannon and she helped me through everything that I had to do. She's a fantastic person and we became friends. In closing, the people at Finance of America Reverse are great and they helped us and we really appreciate it. We’ve gotten a lot of things done that needed to be taken care of.

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    Reviewed Aug. 29, 2018

    I had an open-heart surgery and then just a couple of weeks ago, I had a hernia fixed. I had to quit work and it didn’t look like Social Security was gonna carry us, so I had to do something. I started out with AAG and two weeks after the heart surgery, their rep called me up and almost threatened me that they were gonna change what they were gonna do and it wasn’t gonna be as good and that I had to hurry up and get it done. He wasn’t kind at all and I tried to get off the phone with him and told him that they were done.

    I went with Finance of America Reverse and they were absolutely very understanding, kind and patient. And I appreciated very much the rep that I worked with. The application process wasn’t difficult but it was long and drawn-out. And I understand that whenever the government gets involved. But once we got down to the nitty-gritty and said that we were gonna do it, the process didn’t take long at all. Still, there was all this rigmarole to go through and it got kind of worrisome. They had to have a counseling session with us where they all came in and interviewed us and talked about the good, the bad and the ugly.

    The gal who came to sign the final papers was very good. We had to have an appraisal and it seemed like there was a lot of stuff going on. Still, it was done and taken care of. Finance of America Reverse was very good to work with and I appreciated every part of it. As far as the rate of the mortgage, the company does what they can and I think that’s pretty well regulated, so I just accepted it. My experience with this company has all been good and I was able to retire with less stress.

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    Response from Finance of America Reverse
    Donald,
    We are happy to hear that you your surgeries were successful. We understand the challenges and costs we can incur because of health. We are pleased that you chose to work with Finance of America Reverse in your time of need. Our goal is to always provide an excellent experience and help people in retirement. Feel free to contact us with questions.
    Thank you,

    FAR

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    StaffLoan ProcessRates

    Reviewed Aug. 29, 2018

    I had an annuity that ran out and I have no retirement other than Social Security. Though I've liked living here, taxes keep going up every year. The town keeps building schools and keeps accepting non-profits, and they don’t pay any taxes. When I came back from college, the population was a little over 10,000. It's about 7,000 now so it has become an untenable situation. I went to another lender first but they hooked up with me with an FHA appraiser that appraised my house $20,000 less than the city had it appraised and about $15,000 less than Zillow had it appraised. So, I decided I would find somebody else. I went with Finance of America Reverse and they gave me more money and a better situation.

    The rep was super although the process took longer than it should have. Finance of America Reverse couldn’t get the appraiser to give them the figures that they needed, so they had to find another appraiser to finish up what he started. The people at Finance of America Reverse were very good and I was very pleased with the rate. They were fair and honest and they answered my questions. The reverse mortgage made my life a lot easier. It allowed me to pay out some credit card bills and my truck, and I used that money to pay the ongoing monthly bills.

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    Response from Finance of America Reverse
    Wayne,
    We value your feedback and understand that retirement can be challenging but there are options. We appreciate you choosing to work with Finance of America Reverse and are so pleased that you had a wonderful experience. We work hard to find the best people to provide a great experience for our customers. There are many regulations in place to protect the buyers, which can sometimes increase processing times.
    Feel free to reach out with any follow-up questions in future.
    Thank you,

    FAR

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    Reviewed Aug. 28, 2018

    I initially went with AAG but the process was such a long runaround one that I got frustrated after six months of this and that. They kept sending in more forms and when it finally seemed like it was going to end, the representative that I was dealing with passed me on to one of his associates. This was a guy who I learned was his equal in the company and he started the process all over again. I was not gonna do that again so I was done with them. I put the whole thought of a reverse mortgage aside until I got a cold call from the fellow from FAR.

    I told him that if they could accomplish the reverse mortgage in a reasonable amount of time, I was willing to go with them. But I told him that as soon as I sensed that I was being dragged on, I was gonna drop out. He promised he wouldn't do that and it worked out fine. Everything happened within a couple of months, which was a heck of a lot shorter. It also seemed to be more reasonable, considering that I have a extremely high credit rating. Also, I’ve dealt with salesmen all my life and I have a good sense of what they are like. This guy was very young and ambitious. He really wanted to accomplish this and he did good at it.

    The first advance that I got from FAR, which was $100,000, was deposited into my account. I paid off every credit card debt that I had accumulated over the time that I was trying to get the initial reverse mortgage through AAG. That was a relief. It took a chunk of the initial $100,00, maybe $40,000. But now, I’m back down to zero debt.

    The rest of the money is sitting in my bank account. It’s there if I need it. Then in a year, I would have access to more money. And because I took the reverse mortgage out on a line of credit, the available funds that I will have will grow over time as I get older if I don’t touch that money. It’s a very comforting feeling knowing that I'm not gonna have to sell my house. The reverse mortgage has made a tremendous difference. Before, I was essentially house-rich and cash-poor. I can sell this house and downsize or move to an apartment. But I don’t want to do that. I’m comfortable and happy where I am. I have recommended FAR to people who had even not considered a reverse mortgage at all. But I happened to know what financial state they were in. They didn't want to go with a reverse mortgage but I told them my experience with FAR had been very positive. FAR and the representative were really good.

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    Reviewed Aug. 28, 2018

    A reverse mortgage was something we really didn't wanna have to do and we were hanging on trying not to have to do that. However, we were also looking to pay off some bills and get some upgrades to our home. There were several lenders that were calling us, but Adam of Finance of America Reverse mailed us some folder right at the beginning. We had so many questions that needed answering and the folder was full of information. It was very helpful to have it all written down and be able to see what was going on. Also, he followed through with some phone calls. At the time, we had another lender who was very persistent but Adam wasn't as pushy. He would call us and answer any questions even on the holiday weekend and we were impressed with the way he was doing business.

    Furthermore, Adam was more sensitive to what we needed. He didn't charge us much for the closing cost. We sent him a copy of what another lender was sending us and the money we would have to pay was much less with Adam. Still, I wished the mortgage didn't cost so much for the initial fees. But compared to the others, Finance of America was better. The reverse mortgage was a very difficult decision to make and a difficult process to go through. Still, Adam helped us on the phone with questions even after we've had the process completed. There was a lot of paperwork and the whole thing was pretty stressful, but Adam gave us more confidence that what we were doing was what we had to do. We're glad that we did the reverse mortgage and that he helped us with it. We're also glad that we didn't go with the other company that was more aggressive and charged more.

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    Reviewed Aug. 27, 2018

    My husband and I are 70 years old. We’re retired and our payment here is $1,200 a month. We pay our bills first and if there was anything left, it was good. But there was not that much left and we couldn't do anything. We tried different reverse mortgage companies and got a bad experience. They weren’t very nice people.

    We were about ready to give up, but Matt from Finance of America Reverse called us and we talked. He told us to give them a chance and that they were not like a lot of other companies. He was super nice in talking to us and explaining stuff. We asked him all sorts of stuff and he always answered us. And if he wasn’t sure, he found out and called us. The other rep we worked with, Travis, was great as well. We couldn’t ask for better people than them and we give them the highest rating. They called us about three times a week and told us what was going on and how it was looking. And if we called them, they always answered us.

    Their application and underwriting processes were fast and did not take any more than two months. We faxed through the library everything they wanted and asked for, and gave them all the addresses they needed to know. We also told them that we had one judgment. Initially, we thought we paid the credit off because we had two other ones that we paid off way back. We said that we negotiated and presumed they got paid off since we haven’t heard from them, but we didn’t. When we got a hold of Finance of America Reverse and we fixed that and got that paid off.

    We did the counseling, too. Their rep told us to pick one of them and try to get things done as soon as we could. So, we went down the list and got somebody. We then called Matt as soon as we got done with her because she said that we had to borrow $50,000 to get the loan. But we said that we weren't turning in our pension and it was over with. We were upset, but Matt said that she was not supposed to do that and that we didn’t have to pay for anything. He also said that she had no right to tell us that and that she didn't know anything about what was going on. He was also upset about what she said.

    Before, we were taking out of our pension to use stuff, but now we’ve been putting money towards our savings which we are saving for our real estate taxes when they come. And with that money left over, we're gonna do other stuff. We could really tell the difference and Finance of America has made our lives so much easier. Our credit went way up as well. It was in the 700, so we were tickled to death. Also, our house was appraised for more than they expected which was at $292,000. If anybody wants to do a reverse mortgage, I would tell them to get Finance of America Reverse. I also told the guys at Finance of America that I would tell people in a minute to go with them. They were sweet people and never snotty. I wish I have met them at the very beginning and wouldn’t have gone through all this. I really love them.

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    Response from Finance of America Reverse
    Dian,
    We understand that retirement can be challenging but so happy that you chose to work with Finance of America Reverse to help you in your time of need. We are glad that Matt was able to provide you excellent customer service and that the process went smoothly.
    We work hard to find the best people to provide a great experience for our customers. Feel free to reach out with any follow-up questions in future.
    Thank you,

    FAR

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    Reviewed Aug. 27, 2018

    When my wife and I retired, we moved out of California and moved down here in Oklahoma. I put a whole lot of money into the house and the ranch. It's 20 acres and figuring how we wanted it, it took a lot to get it that way. I paid tax for the whole place, and I used some of the equity that I'd put into the place to help me continue doing what I was doing. I met the rep of Finance of America, who by chance was from Tulsa, Oklahoma which we are close by. Her name is Stacy and she was extremely helpful. She gave us all the information and all the ways to look. There was no second-guessing anything with her.

    Additionally, she was very personable. In fact, she became more than just a business acquaintance and more of a kind of friend. Meanwhile, the hardest part about obtaining my mortgage was for me to get to be 62. My wife is older than I am so Stacy advised us that it would be best for us to wait 'til we were both of age 62. That way, both people's name is on the note and she was right. In closing, Stacy made the whole thing simple and easy. Finance of America has an outstanding person representing their company. If I ever was to move from Oklahoma to someplace else and decided I wanted to use my equity again, I would definitely seek her out.

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    Reviewed Aug. 27, 2018

    Everything keeps going up and we are on a fixed income and it seems like nobody had their cares about seniors. The government’s not helping anybody put any kind of rules for them. I’m soon gonna be 79 and my house taxes, property taxes, car insurance, everything is going up. It was tough for us to meet all the bills every month and it was eating up all our income that we were getting through from the government. My wife and I kept hearing the reverse mortgage on TV so we sat down one time and we called and got information on it. We talked to Tobia and he turned us on to a reverse mortgage. He was well-informed and we started the process. Every time we had questions, Tobia was there and I would recommend him to anybody. He contacted people and they contacted us. The ball was rolling and Finance of America Reverse called us and we went with them.

    Finance of America Reverse’s application process was lengthy, but everybody has been really nice and trying to help. We had options to stay where we were at and go with a reverse mortgage or sell the house because we got some multiple really good offers. My wife decided to stay here until we die and going to a reverse mortgage makes it easier for us to pay our bills also. This is our second month and we started to notice the difference already, and it’s gonna get better. I told her that it is gonna take us about a year to really get rid of the money that we are supposed to be saving. We will be able to save money instead of spending it all on bills.

    The application and underwriting process was all done within about 40 days and it was better than I thought it would be. We were both nervous about it because one or two of our kids were against the reverse mortgage, but the rest of them told us to do what is best, so we can enjoy our lives. The people at Finance of America Reverse were very interested in helping people out and tried to help us. We didn’t have many problems other than paying the bills at the end of the month. When they told us something was gonna go on, that we’ll be receiving some money by certain dates, luckily, it was there. I appreciated that because sometimes people tell you that you’re gonna get this through the mail, but then it doesn’t happen. I was impressed with everybody. They were very nice, cordial, and down to the point. And if we ask questions, they would answer it. I’m satisfied with the terms and if I run into any difficulties, I’ll just call and say out what is going on.

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    Reviewed Aug. 26, 2018

    Getting a reverse mortgage seemed to be the simplest way to go and Finance of America Reverse was someone I could talk to. Their application process was paperwork, paperwork, paperwork, and I hate paperwork. I did my research on their rates and it seemed compatible with what I was expecting.

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    Reviewed Aug. 26, 2018

    Due to Finance of America's good report with the ratings, I chose them over other lenders and I worked with them on a reverse mortgage. But the process of obt,aining the reverse mortgage was strange because I never really met anybody during the application and this was difficult for me since I'm old-school. There should have been more communication from the lender. Eventually, though, I was assigned to a rep who was very nice and I was able to get most of the information that I wanted from her. The guidance that I received was pretty good.

    The lending process took three weeks and so far, the rate and terms that I got have been all right. But I've hardly taken any money out and I’m still waiting for the signed documents that I requested from them. The documents that I have were given to me by the rep that came out and had me sign all the stuff. She left copies of everything that I signed, but I do not have the documents that were signed by the lender.

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    Response from Finance of America Reverse

    Thank you Julius for taking the time to speak to me. So glad to hear you received the loan documents you mentioned in your review. Please do not hesitate to contact us with any additional questions or concerns.

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    Reviewed Aug. 25, 2018

    I got a reverse mortgage from Finance of America Reverse and their application process was very straightforward. The loan officer was upfront and he guided me through the process and let me know what to expect next. I felt very comfortable working with him. I had a couple of phone numbers that I could reach him at and he got back to me after a few hours. The application and underwriting took about 3 and a half weeks. I have looked at two other places and I think Finance of America has the best combination of interest and closing cost.

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    Reviewed Aug. 25, 2018

    I was on a divorce and I had to pay off my mortgage as part of my divorce. That left me with only half a million dollars, so I decided that rather than take out a loan, I would rather take out a reverse mortgage. I turned to Finance of America Reverse considering the interest rate and because of their rep, Ed. He was wonderful. He took the time to explain everything to me and set up the appointment for my counseling. I had talked to three other lenders and Ed treated me with kindness and didn’t talk down to me. The application was easy and it was done in a day.

    I had some issues because my ex-husband and I had things in a trust and I couldn’t get him out of it. Ed facilitated things to where his people got all the paperwork, went to my ex-husband and had him sign everything. I had a lawyer who knew nothing and it was really bad, but Ed said, “Don’t worry about it. I’ll take care of it,” and they did. Working with Finance of America has taken the stress off of my life completely. It’s the best thing I’ve ever done and Ed is the best person that you can go through.

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    Reviewed Aug. 25, 2018

    I have investments but my adviser did not want me to take any more other investments because if I take out of the base, I make less on my return. I needed some money and thought a reverse mortgage was the best way. I talked to two different companies and Kevin from Finance of America Reverse was really helpful. He was also nice and caring. The lady from the other company was nice too. But I could hear her boss in the background sometimes and he seemed pushy so I decided to go with Kevin, who seemed to fit.

    Finance of America brought the papers out to my house so I didn't have to make any trips anywhere, which was very good. The process took a little over 30 days and went the best that it could. The rates were fair and it is probably the best thing I could have done. I did not have the best credit and that affected how much I was allotted and how much was set aside for paying my taxes. The mortgage has given me a little cushion to my checking account and should anything happen, I won't have to worry about how I'm gonna find the money.

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    Reviewed Aug. 24, 2018

    I contacted Finance of America for information for obtaining a reverse mortgage loan. From the first call I made to the final details, everyone was very professional and informative. All my concerns and questions were dealt with in a very timely and constructive matter. My representative, Monica **, was absolutely the best. She kept me informed all the way through the process. I couldn't be any more pleased.

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    Reviewed Aug. 24, 2018

    I had some repairs to do on my house, and I didn’t want to pour some money because I would love to pay it back, so I decided to do a reverse mortgage. I had a few providers, but the loan officer from Finance of America was very friendly and that's why I chose them. It took me forever to choose, but they were very quick to close on the loan and I would recommend them.

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    Reviewed Aug. 24, 2018

    I needed a reverse mortgage to pay for my daycare worker because I was in a hospital bed. The gentleman I worked with at Finance of America Reverse was very straightforward and kind. He explained everything in detail and helped me get through the process. It took three months to close the loan since I've been in the hospital from February and I've just recently returned home. I'm pleased with the rate and terms I've received. And right now, I'm in the process of getting the minor repairs done that Finance of America Reverse requested.

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    Response from Finance of America Reverse
    Pamela,
    We understand the challenges experienced during health problems. We appreciate you choosing to work with Finance of America Reverse to help you in time of need and are so pleased that you had a wonderful experience working with our loan officer. We work hard to find the best people to provide a great experience for our customers. Feel free to reach out with any follow-up questions in future.
    FAR
    Thank you,

    FAR

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    Reviewed Aug. 23, 2018

    We have gone through my retirement income and we were running out of money so we had to go somewhere. My son looked on the internet about reverse mortgage and Finance of America had the best reputation. I talked to a rep on the East Coast and she seemed concerned about us. I thought we were friends after the first 10 minutes of talking to her and she made every effort to make me feel good. She helped us and everything went smooth. It took us two months for everything to go through. Working with Finance of America helped out a whole lot. We don’t have to worry about money and it helps us a whole lot to be able to just get by day-to-day. I appreciate working with them. I thank the Lord we saw it and led us that way.

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    Reviewed Aug. 23, 2018

    I talked to someone about a reverse mortgage and I liked what I heard. The Finance of America Reverse application process was quick and the reps were very nice. The experience was good. I'd tell others to go with Finance of America. They can't go wrong with it.

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    Reviewed Aug. 22, 2018

    Our income was getting limited, and a reverse mortgage was the best way for us to move forward with what we were trying to do. A lot of lending providers have different constraints, and Finance of America Reverse is more flexible for me. The process of getting it was basic and it went pretty well. The loan officer was straightforward, easy to deal with, and responsive, and I would recommend them.

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    Reviewed Aug. 22, 2018

    The 12-month waiting period at Finance of America Reverse is ridiculous and is causing me a lot of problems. But the process was clear and the loan officer I worked with was fantastic. He was very prompt and professional.

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    Reviewed Aug. 22, 2018

    I wanted to do a reverse mortgage and I liked what Finance of America Reverse said. I liked their terms and the efficiency with which they contacted me. Their reps, Kevin and Jason were fine and the rate that I received was very fair. Finance of America Reverse did a good job for me.

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    Reviewed Aug. 21, 2018

    I wanted to save some money in my pocket and Finance of America Reverse had the lowest rates. However, the application process took about three months to complete. If you take a loan, a bank will ask you 10 questions. When the loan is supposed to go through, a bank will come back and ask another three questions, and then takes another month because they are falling behind because of the three questions. They keep that up as long as they can and that was exactly what it was like with Finance of America Reverse. At first, their rep was very nice but then after, he disappeared. When it got painful, their reps turned me over to somebody else.

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    Reviewed Aug. 21, 2018

    I had some credit card debt that I wanted to take care of, so I did a reverse mortgage. I contacted several lenders for this, then I narrowed my choices down to two companies. In the end, I chose to work with Finance of America Reverse because of Brent, the rep that I worked with, who's a great person and was excellent. We both live in Indiana and he was very pleasant and helpful. If I needed a question answered, he helped answer it. I made a good choice. I understood a lot of what I was doing before I went into it, but I also had a lot of help. All the people that I worked with there were very nice and I had no problem with any of them. When they said they'd be here at a certain time, that was always taken care of and they were on time.

    But the biggest problem that I had in getting the mortgage was that the appraiser gave me a very low appraisal. Finance of America Reverse even tried to get it higher, but this appraiser wouldn't budge. Also, I live at a lake and my well was five feet too close to my septic tank, and even though Brent had the county and the state send letters that it was all right with them, HUD wouldn't approve my application. So then I put in a new well and I had to apply a second time, and all that took time. The lending process would have gone very quickly if I didn't have that problem with the well distance.

    Nevertheless, the rate and terms of the reverse mortgage that I received were all right and the interest rates were comparable with other lenders. Getting the reverse mortgage helped me pay my credit card debt. Even though I still have the low appraisal, I'm gonna settle most of my debt with what I'll get next year. That would ease up on my spending and I can handle it if I have anything left over to pay. At my age of 83 years, working with Finance of America on this reverse mortgage made sense because I like where I am and I didn’t want to go into a senior housing unit. If people are in a situation where they would have to go into an apartment or sell their house, I would suggest that they do a reverse mortgage with Finance of America.

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    Response from Finance of America Reverse
    Betty,
    We understand that credit card debt can be challenging and stressful. We appreciate you choosing to work with Finance of America Reverse in your time of need and are so pleased that you had a wonderful experience working with Brent. We work hard to find the best people to provide a great experience for our customers. Feel free to reach out with any follow-up questions in future.
    Thank you,

    FAR

    Staff

    Reviewed Aug. 20, 2018

    Sr. loan officer Randy ** was extremely helpful in every way. He was always there when we needed to have something explained. He was very easy to work with, and very understanding. We would recommend Randy and Finance of America to anyone who is looking for a reverse mortgage. Thank you Randy for all your help.

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    Reviewed Aug. 20, 2018

    I needed money to make repairs. I am retired and I’m also disabled, so I thought a reverse mortgage would be the best way to go. I used them because I did not have to pay upfront for the different things that had to be done. I turned in a whole lot of paperwork. First, I sent all that paperwork, and then they turned around and asked for something else and I sent that in, and they asked for something else again and then I sent that in. So, it was a lot of back and forth between us, but there were no problems working with Steve or Travis, or any of the workers. When they have decided that they were gonna take me on as a client, it was all on the appraiser. Going with Finance of America Reverse was a good experience, although it was long -- the whole process took about three months.

    Since I am still married, I wished, however, that they had told me upfront that it was a must to track down my husband to sign paperwork, stating that he had no equity and had nothing to do with this house that I live in because it is mine and not his. Also, when the appraiser came, I had to make some repairs before he would approve his part of it, which to me, did not make too much sense. The fact that I had to pay for him to come back out the second time, I was not too happy with that. Also, when he appraised the worth of this house, I was not happy with that because it had been appraised a few years back and it was worth more. I also expressed those to Steve as I was working with them because the neighborhood is part of University City now and it should be good. Nevertheless, the rate I got was not bad. But, a lot of the closing costs were a little on the high side. Still, overall, I am satisfied.

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    Reviewed Aug. 20, 2018

    We went through one reverse mortgage before, then we sold our house in Shipshewana and paid off the reverse mortgage. But we needed some extra money when we moved here so we went with a reverse mortgage again and we did this with Finance of America Reverse. The loan officer, Ian, was really good with us. But we had a few snags in the process of getting the reverse mortgage and we had to get some information so that we could get started on it. But other than that, everything worked well. When we had finally gotten all the stuff that we needed, it took three weeks to finish the process and I was well-pleased with that. The interest rate was a little high, though, but I couldn’t do too much about that.

    Up until a month ago, my experience with Finance of America Reverse had been good. But they were supposed to have paid all the back taxes when we closed our loan and for some reason they paid the spring taxes for this year but they didn’t pay last year’s taxes. I had gotten a notice in the mail saying that my property was up for tax sale and I didn't want that. But with the help of Ian and some others that I talked to, that has all been taken care of.

    It was an oversight, but I was getting down to the deadline because the tax sale was supposed to be on September 17 and I was getting a little worried. I was on the phone nearly every day with somebody, trying to figure out what was going on. They kept telling me that they had to pay $1,600 for the taxes this fall, but I said that my taxes are only $200 plus for the fall and they never paid last year’s taxes. They went back and looked, and that was what had happened, so they sent a check through and paid that. Nevertheless, I was well satisfied with Finance of America Reverse and I would recommend them.

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    Reviewed Aug. 20, 2018

    I am over 62, my condominium was paid for and I needed money. I had gotten laid off three times and was behind on bills. The application process with Finance of America was pretty uncomplicated and it only took a couple of months. The preparation process was the ordeal. The condominium complex allowed their FHA verifications to lapse in 2011 and I’m not counting the fact that the guy that was in charge of getting it reapproved didn’t send all the paperwork in. It was a nightmare. But once we got that FHA verification back, there was nothing to it. I had friends trying to talk me out of doing a reverse mortgage, but the only reason that I could come up with was that people had bad experiences where after they died, their heir had to pay it off or forfeit it. I’ve only got one heir and he could sell the property or if he wants to keep it, he could pay it off and rent it out.

    The lending process went pretty smoothly and the loan officer Randy was wonderful. He returned every call promptly and explained everything. I still call him if I have a question. I was told by the notary that came for me to sign all the paperwork that she was surprised that I had a better rate than some of the other companies. My credit score was bad, so they kept half of the money in an account to pay my property taxes and insurance, which to me is fine because then I don’t have to worry about it. It’ll be two years before I can get any more of the money. Other than that, Finance of America was great.

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    Reviewed Aug. 19, 2018

    I wanted a little more financial freedom and a reverse mortgage was a reasonable thing to do. I contacted several providers and I got some confusing information from the others. When I got a hold of Finance of America, they explained the process very thoroughly and were very easy to communicate with. Their application process was very easy as well. I was guided through it by the lady that had helped me out, EJ, and she changed my life. She was made me feel extremely comfortable and I was really impressed. The other persons that I called felt more like salespeople. It was a life-changing project and a lot was involved and I wouldn’t jump in to something like that just right off the bat without knowing what the heck I was doing.

    And when we started to look at the numbers, everything that was communicated over the phone was in fact what showed up in the email and ultimately the final packet. It was a very helpful and educational process, so I felt comfortable knowing what I was getting myself into. Also, their percentage came in less than what we initially talked about. All in all, Finance of America Reverse offered me a whole lot better versus the other two companies that I interviewed. Other than that, there were multiple persons that I spoke to during the course of the transaction, from the notary that isn't affiliated with them but they have linkage with, to the loan processor or person who called me, and everybody involved in the process was very understanding, knowledgeable, and patient. I have recommended Finance of America to others.

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    Reviewed Aug. 19, 2018

    I wanted to get a reverse mortgage because I wanted to quit working. I got online and did some research, then I called and talked with the top three lenders in the United States. Finance of America Reverse was one of them and I liked them the best. They had the best rates and beat the other two companies that I called, so I chose them.

    I really liked the customer service that I got. The rep, Toby, was really good and he answered all my questions. He encouraged me to ask any questions that I might have and he explained the process and what I needed to do. When I had a question, I could call him and he would immediately answer the phone, and it didn’t matter what time or day it was that I called him. He was telling the truth about everything and I was comfortable working with him. The whole process just took a month and it was easy. Overall, working with Finance of America changed my life in a very positive way. They made sure that I understood the process and what I was doing. I’ve already recommended them to two friends.

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    Reviewed Aug. 18, 2018

    I dealt with three different companies before I chose Finance of America. I found the others to be okay but it was different with Josh who was the one who took care of us. He was good and he was almost like a friend. I really felt like he was completely honest. He was always available and he was really knowledgeable. His boss, Ryan, was also extremely helpful.

    During the application, the form was 80 pages which was ridiculous. I know it's the government that requires them but no one could understand and read that much paperwork. I know because I read every word of contracts when I do a contract and I could not read every single word in there and stay focused. What they're doing is they're pretending to lay everything out on the line so that you can see it all. But they are not going to expect people to read all of that. They just couldn't. That was when the notary came to close. The rep just flipped through them, one page after another really fast. She had to come back twice and she never complained. She was great.

    Then there were people in the underwriting process who were responsible for me not being able to purchase the first home that I had found. We lost it within days because they took almost three months to close. Josh did everything humanly possible to get those underwriters to quit asking the same question. It was repetitive and ridiculous. They were asking questions that were obvious to almost anyone. I have a son who has the same last name as my ex-husband. Because of that, they took an extra two weeks to make sure that his address was not the same address as my ex-husband. I also explained why was it a different address immediately. I had all the paperwork ready, with his address and his social. They took another two weeks to close and I lost the house.

    Common sense would tell you that a lot of times, the first born could have the same name. They do have different social security numbers and I sent them the paperwork and they came back with, "Well, why does he have a different social?" Finance of America Reverse should be looking at their underwriters a little more carefully. Had we not lost that house, I'd be about $30,000 healthier. Both Ryan and Josh are gonna remember me for the rest of their lives because when I lost the house, I told Josh just about everything I thought.

    The terms that we got could have been cheaper. I don't think I should pay for mortgage insurance if I have more equity than 50%. If you have 90% equity in the home and you have to pay $15,000 for a mortgage insurance policy, that's crazy. They're asking to pay the same, as if you have 10% equity because it's a reverse mortgage and they require it while a regular mortgage does not. But despite Finance of America's worsening problems, we got through it all.

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    Customer ServiceStaffRates

    Reviewed Aug. 18, 2018

    While I could afford to pay my mortgage, I could not afford to fix my house up. I fixed it up 16 years ago and now it needs to be refixed and a reverse mortgage is my only way to do that. I talked to different people and decided that I'd use Finance of America Reverse. Everything was quick and easy. When I had to fill out the paperwork, somebody came to the house. Sherman was my rep and he was very nice, very patient and did everything quickly. He was great to work with. If I had a question, he called me right back. He also listened and offered suggestions on what I needed to do. He really took care of everything. The whole process took a month and I was pleased with the rate and terms I received.

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    Verified purchase
    Staff

    Reviewed Aug. 17, 2018

    Finance of America Reverse was very helpful and considerate in arranging for my reverse mortgage. Ernie answered all my questions and gave me plenty of time to make a decision. I would recommend them.

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    Verified purchase
    StaffLoan Process

    Reviewed Aug. 17, 2018

    At first, I had chosen another company but I got more confidence in Finance of America Reverse so I went with them. I had to do all the standard stuff to get the appraisal. The process of obtaining the mortgage was a little lengthy but it was not very cumbersome. They had me do some credit counseling and it was done in a professional way. They stood with me the whole way and any question I had, I contacted them. Any forms they needed, they contacted me. It was a nice and easy process. The loan officers bent over backwards for me and I really enjoyed working with them. They kept in touch with me constantly to let me know what was going on. I’m really happy with the decision I made to choose them.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Aug. 17, 2018

    My husband is dying and a reverse mortgage was our only alternative. And I wanted to get the house refinanced so that I could pay it and stay living there. I liked the woman we had, Linda. She was topnotch. She called to keep us informed of what was going on and what we could expect. The rates could have been a little more reasonable but I could live with it. The experience was almost flawless and I'd tell others to call Linda.

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    Verified purchase
    StaffLoan Process

    Reviewed Aug. 16, 2018

    This entire process was a no stress pleasurable experience. I was most pleased with the outcome as well as dealing with knowledgeable people and patient as well as applicant oriented. I was made to feel very comfortable throughout the entire process.

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    Finance of America Reverse Company Information

    Company Name:
    Finance of America Reverse
    Company Type:
    Public
    Year Founded:
    2003
    Formerly Named:
    Urban Financial Group
    Address:
    8023 East 63d Place, Suite 700
    City:
    Tulsa
    State/Province:
    OK
    Postal Code:
    74133
    Country:
    United States
    Website:
    www.financeofamerica.com