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).

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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    How do I know I can trust these reviews about Finance of America Reverse?
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    Page 16 Reviews 2640 - 2840
    StaffLoan Process

    Reviewed Aug. 12, 2016

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

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Patricia,

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

    -FAR

    Verified purchase
    Staff

    Reviewed Aug. 12, 2016

    I thought a reverse mortgage would be great as I don't intend to move anywhere. The people at Finance of America Reverse were very nice. And the reverse mortgage relieved some of my bills, so that helped.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Lynda,

    Thank you so much for leaving us a review with Consumer Affairs. We appreciate your business!

    -FAR

    Staff

    Reviewed Aug. 11, 2016

    Finance of America agent Toby ** was excellent in his handling of my refinance for my reverse mortgage. Totally recommend his company and Toby...

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    StaffLoan ProcessRates

    Reviewed Aug. 11, 2016

    I had a knee operation and had a lot of doctor bills. I had to pay it myself but the interest didn’t cover so I need some extra cash. The rep of Finance of America did a really good job. The process took a little longer than I thought it was going to but after we finally got settled down, it worked nicely.

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    StaffLoan Process

    Reviewed Aug. 10, 2016

    I needed a reverse mortgage and Kelsee from Finance of America Reverse was very helpful. I have dealt with her before and she was extremely knowledgeable. Everything went smoothly and it was a very good experience. I’m happy.

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    StaffLoan Process

    Reviewed Aug. 9, 2016

    Jamie held our hand each step of the way. She always did what she said she was going to do, in the time frame in which she promised to do it. She gave us invaluable assistance in understanding the pros and cons and made the process exceptionally smooth. I would recommend her to anyone. I can be objective, because I have personally brokered several commercial loans and know exactly how the process is supposed to work. It is supposed to work just the way she worked it.

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    Customer ServiceStaff

    Reviewed Aug. 9, 2016

    We spoke with AAA, and there were roadblocks and aggravations along the way, so the reverse mortgage didn't happen. My wife was on the internet and clicked on something and we got a phone call right away, which set off the ball rolling and then we started communicating back and forth with Finance of America. The loan officer was very attentive, and always there if I needed to call and ask questions along the way. Working with him was very good. Plus, Finance of America explained things along the way, so we knew what was going on, because the counseling helped a lot too. As far as the way they handled everything, it went very smoothly.

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    StaffLoan Process

    Reviewed Aug. 9, 2016

    My loan officer from Finance of America Reverse was absolutely great. She helped me a lot and walked through everything. There was a lot of duplications but she did a very good job and I highly recommend her. The only problem that we had was with the bank. We set up an appointment for the attorney to come over to the house and I was waiting and the bank had cancelled it. The bank couldn't find a local attorney and that was the biggest hassle of all. We set several different appointments and I would be waiting at my house for someone to show up and they wouldn't show up. I also don't like the answering machine that Finance of America has, but once I get through the answering machine, I enjoy speaking to the receptionist there. She knew me by name 'cause we had so many interactions, and that was really nice. Other than the interaction with the bank, everything was pretty good.

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    Staff

    Reviewed Aug. 8, 2016

    It was a pleasure doing business with a well run and professional staff. From the very beginning, we felt welcome and the literature explained with much detail. We will be happy to our friends and neighbors, your fine program. I am sure all the agents are well trained, but our specialist (Monica **), was frosting on the cake. Thank you.

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    Customer ServiceStaffLoan Process

    Reviewed Aug. 8, 2016

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

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Jack,

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

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 8, 2016

    My brother made a few calls around and Finance of America Reverse had called back. Upon talking with them, they sounded like a good company to go to and they were also willing to let go of a fee, which another company wasn’t. All went very, very smooth in making my reverse mortgage decision and they kept in constant contact, which was good. They did a good job, especially Julie who made sure that I was kept up to date on everything. She made sure she was available to me whenever I needed to get something.

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    Customer Service

    Reviewed Aug. 8, 2016

    I was trying to get off my house debt running on social security, and Finance of America Reverse was able to do that for me. The loan office talked to me and he called back when I called him. I'd recommend them, but I'm disappointed with the amount of money I got. I didn't expect them to take almost $10,000 off the top.

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    Customer ServiceStaff

    Reviewed Aug. 7, 2016

    I've seen the ad of Finance of America on TV and I called their number. They talked very positive to me about the reverse mortgage. At first, I was a little bit leery about having a reverse mortgage, but as time went on, it got better and better. The rep did a super good job. He led me through my reverse mortgage piece-by-piece. I would call and talk to him about certain things, and he'd have very definite answers about everything. It took a while to get through my reverse mortgage, but it went through, and I'm totally happy with it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi James,

    Thank you for leaving us a review with Consumer Affairs. We always strive to provide top service to all our customers and are pleased you had a positive experience working with Finance of America. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 7, 2016

    I talked to a couple of people from different mortgage companies and they just took my information and then I never heard about them. Chris from Finance America was more active. Chris kept calling, talked to me, and explained more stuff to me, so I thought I would be more secure with him. Their loan officers were all good. He was very informative and I could call him whenever I need to. I like working with him. They gave me excellent guidance.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Angel,

    Thank you so much for leaving us a review with Consumer Affairs. We appreciate your choosing to work with us and so pleased to hear that Chris provided you with excellent service!

    -FAR

    Verified purchase
    StaffRates

    Reviewed Aug. 7, 2016

    I had about half a dozen mortgage providers that I researched and Finance of America was the one that gave me the best rates. The rep, however, was not very detail-oriented. I kept on getting mistakes in the paperwork and we had to do a lot of corrections. They hired a notary public and I had to sign no less than a 100 pages, and a week later I had to redo the dates on 10 of the 100 pages. I had to download them, print them, rewrite my signature and dates and then scan and send them back to him just because the dates weren't as legible as they would like. When you're having the date and sign over a hundred pages, it gets very repetitive. But overall I'm happy with the service and I've already recommended them to a neighbor of mine.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Steve,

    Thank you so much for leaving us a review with Consumer Affairs. We are pleased that overall you had a positive experience working with Finance of America despite a few bumps in the road. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 6, 2016

    I wanted to sell my house. Because it needed a few things done with it before I could sell it, I thought I would get the reverse mortgage, get the house fixed up a little bit, save a bit of the money and relieve myself off of my bills. And if I don't spend out too much, I'd still be able to buy a smaller place. Finance of America Reverse had a very excellent rating and reviews and they're one of the best, so that’s what made me call them.

    I had a very nice representative. He kept in touch with me and sent me information. He answered every question I had and would get back to me if he didn't have an answer immediately. We were in constant communication. When my house was evaluated, I had it put at $700,000 and it came up to $900,000. He immediately rewrote the figures, did everything to see that what I was getting was commensurate with this evaluation figure of $900,000 or at least $200,000 above what we had suggested. He also sent me all of the counseling agencies in the area. I met with the counselor and she was very helpful and responsive. I was very pleased that she was on the list of counselors that I could choose from. Based on the advice and the counseling I got, I thought it would be advantageous for me to move forward.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Sherry,

    Thank you so much for leaving us a review with Consumer Affairs. We are so pleased to hear you had a great experience with Finance of American and with your Reverse Mortgage Specialist. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 6, 2016

    Our experience with Finance of America Reverse was excellent. They were the first to get back to me. They were also polite and kind. They gave me all the information I needed and answered every single question I put to them. The guidance we received from them was tremendous. I write questions down and this went on for a couple of three months before I finally went through with everything. And everything they said came true. I worked with Charity and if I needed something, I'd call her and she'd call me right back. They were very pleasant to work with and I highly recommend them to anybody.

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    Customer ServiceStaffLoan Process

    Reviewed Aug. 5, 2016

    We thought a reverse mortgage was a good idea. I had a lot of equity in my house and I didn’t want to make any more payments. When I talked to Finance of America Reverse, they seemed very knowledgeable and got the job done for me. The loan officer was on top of it since day one. It didn’t matter what time of day it was, I’d ask her a question and she would answer it for me. However, there were some questions that weren’t answered but other than that, they did a good job for us.

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    Verified purchase
    Staff

    Reviewed Aug. 5, 2016

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

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Clifton,

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

    -FAR

    Verified purchase
    Staff

    Reviewed Aug. 5, 2016

    I was going to sell my house but then decided to stay. I talked to a gentleman that worked for Finance of America and thought that reverse mortgage was a good deal. But a lot of people were saying, “Don’t go through with it because you're gonna end up losing your home.” After giving it some thought, I went with it. They did a thorough job on going through the proceedings and I was supposed to be doing counseling and they were helpful.

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    Verified purchase
    Staff

    Reviewed Aug. 4, 2016

    I have researched about reverse mortgage for a long time and I stumbled upon Finance of America Reverse when they were known as Urban. I dealt with a guy named Josh and he was so wonderful. I talked to him for months and then I said to him that I don’t need the reverse mortgage. He still was gracious after he spent all that time with me. When I went back this year and really go through with it, I was not going to deal with anybody other than him. I pretty much knew everything from Josh before I went to the conference needed before the approval. I got excellent guidance from Finance of America.

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    StaffLoan Process

    Reviewed Aug. 4, 2016

    I had a serious operation a year ago and hadn’t been able to work much, and a reverse mortgage would be the best way to go. I tried another reverse mortgage, and it didn’t go well so I got out of it. I then tried Finance of America Reverse and it went well all the way through. The girl that I dealt with worked really hard. It went on a little longer than I wanted to because there are so many things that should be done, but other than that, it has been a good experience.

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    Customer ServiceStaff

    Reviewed Aug. 3, 2016

    I spoke to Stacy and she answered everything. No matter what I ask her, she would email me back with an explanation of exactly what that was and what that would mean. She gave me excellent guidance. And overall, I'd recommend Finance of America Reverse.

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    Verified purchase
    Staff

    Reviewed Aug. 3, 2016

    I applied to many other places before finally settling with Finance of America. Their rep, Chris, was fantastic. I liked the way he treated me compared to the other ones. In fact, he was the only one that really helped me. He took the time to explain everything and didn’t stop until I understand it. I'd recommend them without a doubt.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Carole,

    Thank you so much for leaving us a review with Consumer Affairs. We appreciate your business and pleased to hear you have such a great experience working with your Reverse Mortgage Specialist!

    -FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed Aug. 3, 2016

    I have two other houses up for sale and I needed some money, so a reverse mortgage seems to be the way to go. The people at Finance of America Reverse that I talked with seemed to be knowledgeable and was great to work with. The interest rates and other costs seemed to be in line. They talked us through the process and made us feel comfortable with what we were doing.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Bennett,

    Thank you for leaving leaving us a review with Consumer Affairs. We appreciate your business and the kind words!

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 2, 2016

    Everybody in Finance of America Reverse was very nice except for the closing guy that came to do the actual paper works. He wasn't polite at all. We wanted to look over the paperwork before we signed everything, and he was very blunt in saying that he didn't have time, that he had another appointment to get to, and he said “Don't read it. Read it later after you sign it.” We didn't feel comfortable with that. He was rude, and rushing and pushing us. We would've gone as far as we had with him. We would have just said “Forget it!” but we went ahead, signed it, and got it done. The stipulation was we get 24,000 at first and then we'll have another 20,000 in 12 months but the second installment check didn't have much paperwork on it and we're leery about it. I wouldn't want to sell my house for 24,000.

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    Verified purchase
    StaffLoan Process

    Reviewed Aug. 2, 2016

    I talked to four different companies before I went with Finance of America Reverse. We had searched many other companies and they had some horrific testimonials on the internet from people that had really terrible experiences. But our decision to go with Finance of America was all about the representative, Jason. He was very compassionate. He gave us all the information we needed, answered all our questions, and did a great job. He didn't fool around and got things done in a timely fashion. He stuck with us to the end. He's a very valuable asset to the company. The only thing that happened was the appraiser let us down and came in really low with a low appraisal that was lower than a year before. That hurt us, but we still went ahead with it. We had a good experience thanks to Jason. They have my highest recommendation.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Dean,

    Thank you so much for leaving us a review with Consumer Affairs. We appreciate you choosing to work with us on your Reverse Mortgage and it's great to hear that you received such excellent guidance working with Jason!

    -FAR

    Staff

    Reviewed Aug. 1, 2016

    Jamie ** is for sure the best. She helped me to do what I was afraid to do. She assured me that I was safe in dealing with her. I had full confidence through all that had to be done. She would not take advantage of something that I did not understand. I felt safe.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Paul,

    Thank you so much for leaving us a review with Consumer Affairs. We are pleased to hear you have a great experience working with Jamie on your Reverse Mortgage. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 1, 2016

    Money was a little bit tight. My wife and I are both on disability and on a limited income. She's undergoing some treatment up here at Duke University and medical bills were one thing that was coming into effect. We did not have children and there was nobody to leave the house to, so we looked at it as an option and we weighed things out. It will relieve us of our monthly mortgage payment, pay in our home and maintain the lifestyle we like. I looked at a couple of websites and Finance of America were one of the first ones to contact me back. I had one other company that contacted me too but Finance of America made me feel a lot better.

    Julie, the staff who assisted me, was an outstanding person. She made us feel comfortable, answered every question we had and stayed in contact with us. It was a difficult decision to do, but without her help we probably wouldn't have gone through with it. She was a great asset. It was an excellent service. The timelines that they gave us were very precise and even exceeded those timelines. There were no surprises and everything went exactly according to what was planned. It's been a big relief to us. We didn't seem like in a hurry or like we had to do anything. Nothing was pushed on us at all. They provided every answer that we needed and the counseling that we had made us feel a lot more comfortable. Everything was great. No problems. I would recommend them.

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    Customer ServiceStaffLoan Process

    Reviewed Aug. 1, 2016

    I had some outstanding debts and I wanted to pay them off. I'm 76 now and I gained custody of my 15-year-old grandson a year ago. I have to support him so there was an extra burden, and I ran up a credit card to the limit in trying to take care of him as well as my own needs. I thought if I can get rid of that, then I'll be able to do things better. I then looked into a reverse mortgage and went with Finance of America Reverse since it appeared to be local in Texas, which I found out was someplace else after I started the process.

    The person I worked with was very helpful and we did most things by email. But once a month, she would call me. I applied before and was denied. We were then able to use the same information that we had before. She worked very hard for me. She understood where I was coming from. Things that mattered to her didn’t matter to the administration who was the final say. I was very cautious about how I spent my money, but there were a lot of things and she backed me up and finally persuaded the company to give me the loan. The person they chose for closing told me one thing but she had told me something else, so I had to call the company to verify it. The closing lady wasn’t as knowledgeable as she should have been. Other than that, I'd recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Roberta,

    Thank you so much for leaving us a review with Consumer Affairs. We are please you stuck with Finance of America and that your Reverse Mortgage Specialist was able to help you complete the loan. We appreciate your business!

    -FAR

    Verified purchase
    Staff

    Reviewed Aug. 1, 2016

    I chose Finance of America Reverse based on my daughter's recommendation and I've had a positive overall experience with them. Their reps were patient, informative and tried to keep us aware of our various options all the time.

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    Verified purchase
    Customer ServiceStaff

    Reviewed July 31, 2016

    My income wasn't that much because my husband had passed away and I didn't have quite enough money to do what I needed to do. It seemed like every month I was barely surviving to get my bills paid. I couldn't even go to the movies or do anything. So I thought of putting a reverse mortgage on this house and it will give me a couple or three extra hundred dollars a month. I went with Finance of America Reverse because the man I was talking to, Jason, was very nice and helpful. He told me what we could do, and that he would do everything he could to help me. He said, "If there's anything that you want to know, don't hesitate to call me. I'll be here." It was really nice. I'm so happy I got him and sure glad that I used this company. I'll recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Joan,

    Thank you so much for leaving us a review with Consumer Affairs. It's great to hear the the Reverse Mortgage will have such a positive impact for you and that Jason provided top service. We appreciate your business!

    -FAR

    Verified purchase
    Staff

    Reviewed July 31, 2016

    I was running short of cash in my IRA and my kids, so I decided reverse mortgage would be good. After looking through all the things I got from all the companies that do reverse mortgage, it was the loan agent who made me decide to go with FAR. Jenny, the loan agent, was very friendly, helpful, and answered all my questions. I felt very comfortable dealing with her. It was a little bit stressful just going through all this, but Jenny made me feel comfortable with what I was doing without really trying to persuade me one way or the other.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Nila,

    Thank you so much for leavings us a review with Consumer Affairs. So pleased you had a positive experience working with Jenny and with Finance of America. We appreciate your business!

    -FAR

    Verified purchase
    Loan Process

    Reviewed July 30, 2016

    I've talked to quite a few shysters and I thought Finance of America Reverse was fairly honest so I chose them. My experience was a good one.

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    Verified purchase
    Customer ServiceStaff

    Reviewed July 30, 2016

    I've been looking into reverse mortgage for a year and finally made up my mind to get it. David from Finance of America was my point man. I talked to five different outfits and I liked David most of all. He handled my transaction very nicely. The guidance given to me was very good until we consummated the mortgage. And at that time, they told me I had three days to change my mind. And in one day, I called David back and changed the payment and he said, “Fine,” but then this whole thing was forwarded to the Charlotte, North Carolina office and that never ran through.

    I had to make a couple of phone calls and couldn’t get a hold of David for some unknown reason. He wasn’t in the office. But I called the Charlotte office and they said, “Oh, no. We can't make that change until after the 1st of the month,” and this was a couple of days before that. I called them the 1st of the month, and they said, “Oh, we can't do that until the next day.” I finally got a hold of David. And David got on with the North Carolina office. We had a conference call, and finally got it straightened out. But this month’s payment that’s supposed to be in the mail will not be the correct payment, but we'll settle for that. So everything was smooth up until that point.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 29, 2016

    Finance of America Reverse cold-called and I was thinking about looking into a reverse mortgage anyway, so I asked the guy who called to give me some information. He then said that someone would call me. Toby called me, and gave all the right answers. I'm a retired broker so I had so many questions for him. He said that no one had ever asked him those questions before, but he'd find out and call me right back. He was true to his word. He let me ask him a hundred questions. I did my own math and then checked with three other brokers and compared what he had told me about his company. He ended up coming with the best deal, so I called him back and asked him what we needed to do to start.

    Toby was really good. He even put up with me making him send me an entire packet every single time. There were hundreds of pages. I told him not to send anyone out here to have me sign anything until he sends it to me first so I can sit down and go through it page by page. I told him that I'd be calling back to ask him questions before I sign the real McCoy and he did. To his credit, that wasn't the easiest thing and I ended up having a very good experience. I would use Finance of American Reverse again.

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    Verified purchase
    StaffLoan Process

    Reviewed July 29, 2016

    I'm 63 years old, and I own an apartment in San Francisco. I have no mortgage and debts. I'm in excellent health, and very fortunate to have financial resources to live comfortably for another 10 years. With that in mind, I looked into a reverse mortgage as a piggy bank technique for creating a credit line that I could later draw on. I have been doing research for over six months about a reverse mortgage, and I inquired and looked at the costs and benefits through a variety of organizations. I ultimately chose Finance of America Reverse after higgledy-piggledy finding them. I didn’t need much guidance by the time I chose Finance of America. I cleared the deck of the other options. I knew what I wanted, and had not found a better organization to work with to get what I wanted.

    My loan officer, Julie, was one of the most influential aspects of my final decision. The costs involved were very important to me because there was a range of closing costs quoted to me through all the organizations that I contacted that differed in as much as $3,000. The closing costs were extremely important to me but the personal relationship I developed with Julie is also important. I met her by coincidence. I called Finance and was referred to her, and then we spoke. I immediately got a sense of trustworthiness and experience, and that she could hold my hand through the experience.

    I have an apartment that needed to be FHA-approved, so I had to go through an approval process. One organization literally failed me and others gave me the impression that I would be somewhat on my own and they would be there in a whispering-over-my-shoulder kind of capacity. Julie made it clear to me that Finance of America was going to hold my hand through that experience, and in fact, it turned out that way. The first time we submitted the forms to FHA, they were disapproved because of five matters that they needed clarification on. I worked with someone else through Finance of America to make that happen. We resubmitted the forms, and within two days, it was approved. I really got the hand-holding that I needed.

    My experience was so positive. I'm very grateful to the US government for making this possible and Finance of America for making it real. That money is going to sit there for 10-12 years at which I'm going to have enough money to live out the rest of my life. I feel tremendously at peace and secure. I wish everyone in this country had the kind of long term security that I now feel. Julie specifically, Finance of America generally, and the United States government officially really have given me financial comfort for the rest of my life.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Barry,

    Thank you so much or leaving us a review with Consumer Affairs. We are very pleased to hear that you had a fantastic experience working the Julie and with Finance of America. We strive to give every single customer exceptional customer service. We appreciate your business!

    -FAR

    StaffLoan Process

    Reviewed July 28, 2016

    I was assisted in receiving a reverse mortgage from Finance of America Reverse with the help of Mr. Chris **. This was my second experience in going through this procedure. I cannot express how smoothly he guided me through this procedure this time. He was knowledgeable, efficient, and very helpful in guiding me through all the requirements. He was easily available to contact at any time with questions, and the people he sent to my home were experienced and efficient. The entire transaction was processed and finished very quickly. I cannot thank him enough for his assistance in taking me through my experience in such a professional and friendly way.

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    Verified purchase
    StaffLoan Process

    Reviewed July 28, 2016

    The rep was very nice. We talked every day, and he never minded me calling him. All in all, I had a very good experience with Finance of America Reverse. They didn't lie to me.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Arnold,

    Thank you for leaving us a review with Consumer Affairs. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 28, 2016

    Finance of America Reverse went over all my indebtedness and explained what would be taking place with the reverse mortgage, and it seemed possible for me to engage in it. The loan officer was very informative and direct in helping me answer my questions. There was some confusion on the home insurance and taxes, and we're getting those questions answered.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Tom,

    Thank you so much for leaving us a review with Consumer Affairs. Great to here you had a great experience working with your Reverse Mortgage Specialist. Someone will be in contact with you shortly to answer any additional questions. We appreciate your business!

    -FAR

    Verified purchase
    Loan Process

    Reviewed July 28, 2016

    I'm happy with Finance of America. I dealt with Rodrigo who was wonderful. Our experience has been okay, however, they told me one loan amount and then it ended up being something else at the very end of the closing, so a few mistakes were made. Other than that, their guidance was good. The process was fast, efficient, and done well.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Robert,

    Thank you for leaving us a review with Consumer Affairs. Pleased to hear the process was so fast and easy! We appreciate your business.

    -FAR

    Verified purchase
    Staff

    Reviewed July 27, 2016

    Just a few words to express my experience with your organization. Briefly, I cannot recommend anyone more highly. Having been in management all my life I would choose Monica as an employee/associate/partner without hesitation. Her people skills are without comparison and not something easily learned, usually intuitive. She is an asset to any organization and definitely to Finance of America!

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Melvin,

    Thank you so much for leaving us a review with Consumer Affairs. It is great to hear what a great experience you had working with Monica and Finance of America. We appreciate your business!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 27, 2016

    My husband and I are living on social security and neither one of us is able to work, so it was hard to make a mortgage payment. We did a search and got our neighbor to help us search for different revere mortgage companies and Finance of America was the best. Their rep kept in touch with us all the time. He told us what we needed to do and he was very nice. They were very helpful telling us about all these other programs before we finally decided to go with the reverse mortgage. Our experience went smoothly and it was very good.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 27, 2016

    I was using another company but they were slow and after they got me kind of hooked, they wouldn't answer calls. When you go and do those things, they're pretty stressful because doing a reverse mortgage is a busy process. They also kind of misinformed me from the get-go of the whole deal because they said that they can get me 60% of my appraised value. However, when I switched to Finance of America Reverse, I was told that by law, they can only do 51% of the appraised value. And that's for everybody because the law only permits them to do 51% of the value of my home.

    Jennifer, the rep from Finance of America Reverse, who guided me was real good and very helpful about everything I needed answered. She knew how to go about getting it and telling me whether I can fax or email it because mine was a little bit complicated. My mother-in-law left my wife her house and I was taking my wife off of the loan. Jennifer and I talked every day for a couple of weeks to get the thing rounded up and there were a few extra stuff we had to do to make all that happen but everything went well.

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    Verified purchase
    Customer ServiceStaff

    Reviewed July 27, 2016

    Due to finance troubles and the need for some extra income, I got a reverse mortgage as part of my retirement plan from Finance of America. Working with the loan officer was fine. My only problem was it took about three and a half months to get mine finished. I was told that I would need a survey to take out the few acres that they needed. Then, they came and said that they don't think they were going to need the appraisal. The surveyor was already at my house, so he left. A couple of weeks later they called and said they were going to need the survey and I got rescheduled for almost a month. The underwriters came back ordering all these paperwork that they should have asked for at the beginning. It was just that if I go to a bank and request a loan, that's some of the first things they do.

    It should have been a top priority, that was like the credits and they asked why I have it on my credit report. I had provided documentation and that's the whole reason for getting reverse mortgage, because I'm in a financial trouble. They were trying to second guess everything I did and they kept telling me that it was underwriters. But as far as working with the loan officers themselves, I didn't have a problem. They were the nicest people and careful in every way they could be. But the process could be changed to ask for all the paperwork up front.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Sherolyn,

    Thank you so much for leaving us a review with Consumer Affairs. We are please you had a great experience with your Reverse Mortgage Specialist. We appreciate your feedback and your business!

    -FAR

    Verified purchase
    Staff

    Reviewed July 26, 2016

    I needed some work done on my house and I couldn't afford it so I sought assistance from Finance of America Reverse. Their rep was very helpful. Everything worked out.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Mary,

    Thank you for leaving us a review with Consumer Affairs. We are please to hear everything worked out well with your Reverse Mortgage. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 26, 2016

    My husband does not have life insurance, so I felt like if something happened to him, it would be difficult for me to keep the house paying the mortgage. I was interested in not having a payment to worry about if something happened. I was checking with several different companies a year ago, but they all really couldn’t help very well. Then Scott, a loan officer from Finance of America, called me one day and said, “I wanna make sure that we did everything we needed to.” I told him my experience and that one company said that we’d have to bring $20,000 to the closing, and that was of no interest to us. He said, “Let me see what I can do.”

    I was very happy with Scott. He kept me informed as to what was going on. Some things took a little longer and he would call me and say that it’s not quite done but we’re still getting there. The communication was really great. The only question we really had was whether or not the appraisal would come out high enough to make this whole thing work and he was very confident that it would. It’s actually higher than the first set of papers that they had sent on what our closing statement would look like if it had been at a lower appraisal. It gave us some money at the end where we really hadn’t expected any. They also took care of some of the cost so that it would make it zero.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Meredith,

    Thank you so much for leavings us a review with Consumer Affairs. The Reverse Mortgage is a great tool to help with retirement expenses and it's great to hear the Scott took good care of you both. We appreciate your business!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 25, 2016

    I’m 70 years old. I didn’t want to wait until I am 80 to get a reverse mortgage and it would really be nice not to have a house payment. My experience with Finance of America Reverse was great. Joshua was the one I kept talking with, and he was absolutely fantastic, extremely helpful and patient with me. In fact, everybody at Finance was very nice. I went to have the evaluation to talk with someone, so that I knew what I was getting into. There were a couple of other people that I dealt with at the closing and I couldn’t ask for a better group of people to work with. I was very satisfied and already have recommended them to several people.

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    Verified purchase
    Staff

    Reviewed July 25, 2016

    I had somebody from Finance of America call me to answer a question I put on the computer. He was very persuasive and very good. I was not really for a reverse mortgage and I wanted to wait on it for quite a while but he kept talking to me and convinced me to go ahead with it. He was pleasant and explained everything well. I am happy so far and I would recommend them to my friends.

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    Verified purchase
    StaffLoan Process

    Reviewed July 24, 2016

    It's easy to do business with Finance of America Reverse. I used them for the second time and the loan officer, Eric, was outstanding. He was extremely knowledgeable, forthright, and driven for success. We had a good and pleasant business transaction.

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    Verified purchase
    Staff

    Reviewed July 24, 2016

    Their rep was very nice and informative. She kept me informed and the guidance I received from Finance of America Reverse was great.

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    Verified purchase
    Customer ServiceStaff

    Reviewed July 24, 2016

    We took out a reverse mortgage from Finance of America. The notary public told us we wouldn't get any more until the year and that would be $13,000. I told him the agent told us something different and it's in the paper. I called Finance of America on Monday morning and I said we're not going to do it if they don't send me the papers showing something different. The agent sent me out a paper and it said my taxes will be paid for the first year and the next in an extra account. The unused portion of the $20,000 will be added to my secondary amount which was over $32,000 in total plus 5.4% growth. He sent me out the paper stating that we will get the $32,025.50, the line of credit after the first year. We agreed to it and then they said we couldn’t.

    Then, I talked to John and he said we'd get $13,500 the next year and we could get some more in December. But that’s not true either. We got a paper saying who we need to contact and I talked to that person and complained because we weren't happy about it. He said he didn’t have anything to do with it except getting our loan. It was a nightmare.

    They told us that we would be getting the money in June the 17th of 2017. Now, we get a letter stating that we could get the money. I called and I spoke to the lady in the office and she said that yes, it's our money and we didn’t have to wait. She told me to fill out that paper, and we faxed it to them. Then we got a letter stating we couldn’t do that because it’d be another year.

    Additionally, they said all we'll ever get is $13,000. They're going to keep $20,000 to pay the home insurance and the land taxes and that’s not right. If I put them in a line and I spoke with 20 of them, nobody would tell the same thing. They don’t know their business. I'm going to contact HUD because they ought to know and we don’t have anybody to help us. I would never tell anybody to do a reverse mortgage with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Helen,

    Thank you for leaving us a review with Consumer Affairs. Someone will be in contact with you very soon to clear up any confusion with your Reverse Mortgage. We appreciate your business.

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 23, 2016

    It was because of the lady rep who helped me that I went with Finance of America Reverse because the finance companies that I contacted all had about the same price and the same rules. I was talking to three different reps, and she was the nicest one, very friendly, and she seemed to care. She's a professional, and I liked how she kept me informed. She always called me back and let me know what was going on. Moreover, she was so good in explaining things. It wasn't the same with the other reps. I liked the way she handled it. She went above and beyond what was called for, and that's great.

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    Verified purchase
    Customer Service

    Reviewed July 23, 2016

    The no monthly payment for as long as we can got us to use reverse mortgage as part of my retirement plan. I got quotes from three reverse mortgage companies and Finance of America has the lowest one when it comes to the mandated cost. They sent me reading materials, but I'd already researched about reverse mortgage, its advantages and disadvantages. I’m the first one who wants to educate myself before I even go ask others for explanation so that I would understand better. Aside from having a ton of materials for us to read, we also had to undergo counseling. It’s information overload. On the other hand, most of the time, I get a live person to talk to me the first time I call. And when I leave a message, I get a return call before the day ends. They're very efficient because all the papers and documents I submitted are in their hands and didn’t go anywhere.

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    Verified purchase
    StaffLoan Process

    Reviewed July 22, 2016

    I applied for a Reverse Mortgage from Finance America on June 1, 2016 over the phone. Monica ** was very professional, knowledgeable, friendly and very easy to communicate with. She was very thorough and I received my paperwork overnight. I read through all the information and paperwork before returning on June 8th. On June 10th the appraiser came and Monica had the appraisal in hand by June 15th. My loan closed on June 23, 2016. I have never had a mortgage loan close so quickly, easily and smoothly as this loan with Monica ** and Finance of America Reverse Mortgage. I would recommend them highly to anyone wanting a reverse mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Gracie,

    Thank you so much for leaving us a review with Consume Affairs. It's fantastic to hear that you had such a great experience working with Monica and the entire process was quick and easy. We appreciate your business!

    -FAR

    Customer ServiceStaff

    Reviewed July 22, 2016

    Marci ** provided excellent help in the acquisition of the reverse mortgage for my mother. She was available by email or phone for all issues that arose in filling out the paperwork; this even included times when she was not at work. She helped in the selection of the final monetary reverse mortgage arrangement. And, Marci arranged for the home notarization processes at convenient times.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Edward,

    Thank you so much for leaving us a review with Consumer Affairs. We are so happy to hear that Marci provided you such excellent service and we certainly appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 22, 2016

    I’m self-employed and I’m in decent health now but I don’t know what it’d be two or three years from now. So, that’s why I choose to do a reverse mortgage now. If I can’t work, at least I got a place to live. Finance of America Reverse has been really helpful and everything went well. To be done over the phone and nobody's sitting in front of you, it worked out good. I told my friends about it and they were interested but they weren't old enough. They still got a couple of more years but they will do the same thing and I told them to ask for Julie (the loan officer) because she was exceptional. They've done a good job and I was really satisfied.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Harold,

    Thank you so much for leaving us a review with Consumer Affairs. So pleased you had such a great experience working with Julie and Finance of America Reverse. We appreciate you business and kind words!

    -FAR

    Verified purchase
    Loan Process

    Reviewed July 22, 2016

    Everything's fine with Finance of America. The process took a minimum of time and went great. It's all done and I'm very pleased.

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    StaffLoan Process

    Reviewed July 21, 2016

    Marci ** was the person who assisted me with the application. She went above and beyond the normal that I had experienced in the past. She worked tirelessly until the loan was complete and went to bat for me when problems arose. I am truly grateful for all her hard work so that I now can enjoy the benefits of the reverse mortgage program.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Roberta,

    Thank you so much for leaving us a review with Consumer Affairs. We are so pleased you had a great experience with Marci on your Reverse Mortgage. We appreciate you business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 21, 2016

    My friend had such glowing remarks about Finance of America Reverse that we wouldn’t even have considered another one. Their loan officers always returned phone calls and were helpful and quick. I can't say enough good things about them. Overall, there’s no problem and they were wonderful people from start to finish.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Vicki,

    Thank you so much for leaving us a review with Consumer Affairs. We're so pleased that you heard such positive feedback about Finance of America Reverse and that your own experience was also positive. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 20, 2016

    I took out a first mortgage on my home to pay off all my debt. The company that helped me at that time suggested that when I turn 62, I should try a reverse mortgage. In that way, they could pay off that loan and I could live a little more comfortably. I was online and looking at something and Finance of America Reverse was the first one that just popped up. I filled out a little application and then they called me. Their loan officer was always there to answer any questions I had. It went absolutely perfect.

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    Verified purchase
    Staff

    Reviewed July 20, 2016

    I already had Finance of America Reverse a couple of years prior to the refinance. I got very hands-on guidance from them. They answered all of my questions and are very prompt.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Debra,

    Thank you so much for leaving us a review with Consumer Affairs. We appreciate your continued business with us!

    -FAR

    StaffLoan Process

    Reviewed July 19, 2016

    Since the federal government radically revised reverse mortgages, these unique financial packages have become a godsend for many elderly Americans. In my case the reverse mortgage has been a genuine lifesaver. I am 77, somewhat fragile, but still able to work full time managing four rental apartments in my two adjoining townhouses, one of which is my own home. Although these properties are celebrated historic sites —together they look like one neo-palladium mansion — the rental income has been modest since these adjoined buildings require modernization, which I could not previously afford without financial assistance.

    Most fortuitously, Nigel ** of Finance of America Reverse was able to arrange a reverse mortgage for me. This loan permitted me to begin making extensive upgrades which will soon increase my total rent income by at least $2,000 per month. When I received my first mortgage monies two weeks ago I immediately put my contractors to work on all of my apartments as well as the grounds. I hope to have a beautiful new garden where I can to rest and entertain my friends surrounded 100 year old trees.

    Without Nigel ** none of this would be possible. Before talking with him I interviewed over a dozen other reverse mortgage representatives (all selling the same government packages). How was Mr. ** different from the others? Instead of focusing on selling, he focused entirely on meeting my special needs with utmost patience and candor. Moreover, he made it possible for me to meet my short time schedule. Although I have worked with many other mortgage sales representatives in the past, I have never had comparable experience. Nigel ** is one of a kind: he is a brilliant negotiator, not just because he knows his job, but because he is genuinely patient and caring person. I cannot recommend him too highly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Caroline!

    That you so much for taking the time to leave us a review on Consumer Affairs. So great to hear you had such a great experience working with Nigel and with Finance of America. We certainly appreciate your business and please let us know if there is ever anything else we can do!

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 19, 2016

    Finance of America made reverse mortgage sound good as part of my retirement plan. The girl I worked with was phenomenal and informative. Charity sounded interested and knew what she was doing and diligently worked for it, returned all phone calls when most people don't and went up and above the call of duty. With that part I had a wonderful experience, but not with the service which is terrible.

    I had an insurance claim on the house back April 15th and the insurance company sent me a check that had my name on it and the mortgage company, so I mailed the check to Finance of America. I had to put in the floors which cost me over $14,000 and I got so many different and conflicting answers from their RMS. They don't know what they're talking about, don't return calls, and I was told I had a check for $8,100 that they mailed on June 22nd and I still don't have it. They're rude and don't care. But this morning I got Angela and she was so nice and tried to settle the problem so good I asked to talk to her supervisor and told the sypervisor about her.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 18, 2016

    Getting a reverse mortgage was the best thing for us. I picked three different companies since I liked the ratings they got and then decided to go with Finance of America Reverse. We’re not used to doing all this business over the phone, so we were extremely reprehensive, but eventually, everything worked out fine. My wife is critically ill so it made it even easier for us. The loan officer we spoke with was very good and easy to work with. I was very comfortable.

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    Verified purchase
    Staff

    Reviewed July 17, 2016

    My husband and I had a discussion and we didn’t want to move. Instead of downsizing, we decided to do a reverse mortgage. Finance of America Reverse had a really personable representative. I liked working with him. He was very responsive and conscientious.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Harriet,

    Thank you so much for leaving us a review with Consumer Affairs. So pleased you had such a positive experience with your Reverse Mortgage Specialist. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed July 16, 2016

    I did my reverse mortgage with FAR because of their rates and customer service on the phone. It worked out well. The loan officer was helpful.

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    Verified purchase
    StaffLoan Process

    Reviewed July 16, 2016

    I wasn't able to get any kind of traditional mortgage so I did a reverse mortgage. It was my last resort. The agent that I had from Finance of America Reverse was excellent, helpful and answered all my questions. I talked to him almost every other day for a couple of months. There were a lot of things that came up in the process that required a lot of additional stuff and he stayed right with me through it all. My experience has been very good.

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    Verified purchase
    Staff

    Reviewed July 15, 2016

    Before doing a reverse mortgage I talked to several companies and what I heard from Finance of America Reverse was the best. They were very helpful in terms of discussing my retirement options and they guided me through it very nicely.

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    Verified purchase
    Staff

    Reviewed July 14, 2016

    We had a large home equity loan that was a burden to me so we looked into a reverse mortgage. Joshua, our Finance of America Reverse rep, was very helpful and professional. All our questions were answered.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 14, 2016

    Finance of America was the one that was there when I made phone calls and answered my questions. I liked Davie, the loan officer very much. He was very nice. However, the thing that has upset me and my sons is that they had the house inspected and requested to me to do certain things, which I did. Then they had somebody come in and check the cellar. They were told at the time that there was some surface water in there, but no mold or stagnant water. I’ve lived in the house for 63 years and it’s been wet since the day I moved in here.

    When I finished the other things, I came back and rechecked the house and the fellow came into the basement. It was dry. But when they handed me the reverse mortgage, they informed me that I had to have the basement fixed. It kind of hit us wrong and my son was very angry about it and he felt that Finance of America had no right in requiring that I do it. They should have let us know beforehand. It was after I’ve signed the papers and it was finished, and I have until November to get the basement fixed. They’ve held out over $11,000 to be used if necessary in that instance. But everything else was taken care of.

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    Verified purchase
    Staff

    Reviewed July 13, 2016

    My sister had done a reverse mortgage with Finance of America on two different occasions prior to my contacting them. I looked into a few others but because of my sister’s recommendation and the contact I made initially with the woman that my sister dealt with, I decided it was an easy way to go. The rep was professional, courteous and on the ball.

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    Verified purchase
    Staff

    Reviewed July 12, 2016

    I wanted a reverse mortgage to be part of my retirement plan to cover for some expenses and also for my children. Stacey, the loan officer from Finance of America Reverse, was very good and easy-going. It was comfortable talking with her.

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    Verified purchase
    Customer ServiceStaff

    Reviewed July 11, 2016

    My husband made this statement one night that we’re not gonna move, and I decided we're going to do a reverse mortgage because that’s the only way that we get the equity out of the house that we worked for and got paid off in return. The party from Finance of America that I worked with, Diane, was very nice and polite and would answer any question better than I could come up with. She explained everything, wasn’t pushy and was easy to work with. I’m glad that we took advantage of our reverse mortgage because it can help with retirement. I've worked all my life and have a small pension but security is not really doing great. People need to know about the reverse mortgage more so that they can get their equity back without it costing them.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 10, 2016

    I researched about six different companies that offer reverse mortgages. I spoke to Kevin at Finance of America Reverse and right from the beginning, the whole experience was wonderful with him guiding us throughout. He was extremely friendly, helpful, willing to do what it took to make things happen, made me feel comfortable, and was a great guy.

    The other companies that I talked with almost made me feel unwelcome. A couple of them just plain turned me off with their attitudes. None of them had the finesse that Kevin had. He went out of his way to be available to call us, follow up on things, and check in on progress. Every time I talked with him, he seemed like a very happy, intelligent and well-versed person. If he didn’t know an answer, he’d get it and get back to us. He went out of his way to make the process easy for us. It was his warmth, enthusiasm and making me feel welcome that made me chose this company. He’s a very good asset to the company.

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    Verified purchase
    Staff

    Reviewed July 9, 2016

    We were struggling to make ends meet and just sitting on our bank accounts. We own our house outright and we decided that we would be better off with us having availability to that money when we need it. The rep from Finance of America was great. He was the one that really sold it on us because we had a couple of others that were trying to work with us but he was something else. I felt that he was sincerely caring about us. And then we went to those classes and so forth down the line so it was pretty good.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Joan,

    Thank you so much for leaving us a review with consumer affairs. So great to hear the the Reverse Mortgage made such an positive impact for you and that your Reverse Mortgage Specialist took good care of you. We appreciate your business!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 8, 2016

    I've been hearing about Finance of America Reverse for years. When my wife passed away, I decided that I wanted to go ahead and get a reverse mortgage. It gives me a little more stuff I can do. I had a good interaction with my loan officer. I put the loan in the bank since I'm making payments on my car out of it. They were wonderful about the guidance they gave me. Their representatives didn't leave 'til they got that you understood it. All of their people were good. I've been talking about Finance of America to people that I know need it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Gene,

    Thank you so much for leaving us a review on Consumer Affairs. Very pleased to hear that you had such a positive experience with Finance of America and would recommend us to your friends and family. We appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 7, 2016

    I’m an appraiser with no debt and have 100-percent equity in the house. My family members all died these past couple of years. Since I'm 70 now with some income, I researched reverse mortgage and started with Live Well Financial, which was a horror. I spent six months in idiocy with them. And because I know how to get hold of HUD from my professional background, I got good information sent to me, took a look and zeroed in on Finance of America and transferred everything over to them.

    I was tinkering with two other companies locally but, just like Live Well, they too tried to hold me hostage for the appraised value. You don’t pull that on an appraiser with 35 years experience. I started communicating with the appraiser to find out that he was being ordered what to put in the appraisal. I knew there was a lot of equity in this house. It’s a good house in what’s considered a rural area, so there was no way I would let it go for what they were talking about and give them any kind of control. I forced their hand and played them along. It was one of those office realtor appraisers who called HUD and it ended up with Finance of America and I couldn’t be happier. The guy I was dealing with there got all the paperwork.

    Live Well didn’t even transfer the file in three days and Finance of America had to go after them on it. I gave them the Live Well manager's cell and then all of a sudden they had the paperwork the next day. Finance of America was absolutely straight and I found out from them later that apparently, a hundred employees at Live Well got laid off and they were being audited. So I'm glad to be out of there.

    I haven’t taken any money out. I just went for line of credit. They sent me the paperwork and I called to find out that everything was in place the way it was supposed to be and that I will have absolutely no problem. I have now gotten two statements from them and couldn’t be happier. It’s very straightforward, clear and thorough information. I wish I had started with them sooner. It was very refreshing to get to Finance of America.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Niki,

    Thank you so much for leaving us a review with Consumer Affairs. We are pleased to hear that you had such a positive experience with Finance of America, especially after the trying experiences with some of you competitors. We appreciate your business!

    -FAR

    Verified purchase
    Loan Process

    Reviewed July 7, 2016

    We considered selling the house and decided we preferred to stay, so a reverse mortgage seemed to be the best way to get some cash to do the improvements that we wanted to make. I didn't need much guidance, but Finance of America Reverse was certainly available to provide it. It was a generally positive experience with the exception of the fact that at the last minute when we went in to sign the documents, it emerged that in order to conclude the loan we had to pay off a HERO loan. We had a $40,000 loan that we paid through our property taxes on some solar portable tank equipment. At the very last minute, we discovered that we had $40,000 less than we anticipated without any advance warning. It put a bit of a damper on the experience, but other than that it was fine.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Linden,

    Thank you so much for leaving us a review with Consumer Affairs. It's great to hear that your overall experience was positive with Finance of America. We certainly appreciate your business and please let us know if there is ever anything else we can do!

    -FAR

    Verified purchase
    Staff

    Reviewed July 6, 2016

    I wanted extra money for repairs and to live on. The Finance of America loan officer got me into closing a deal with them. He was wonderful. I’d recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Margaret,

    Thank you so much for leaving us a review with Consumer Affairs. So pleased that you had a great experience with Finance of America and with your Reverse Mortgage Specialist. We appreciate your business!

    -FAR

    Verified purchase
    Staff

    Reviewed July 6, 2016

    I tapped on a refinancing app on my phone and Finance of America is one of the sites that popped up. I wanted to have extra cash when I needed it. They were the first ones I talked to and I liked what they were saying. They were good and the agent that I spoke with was readily available to any questions I had to ask.

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    StaffLoan Process

    Reviewed July 5, 2016

    I put my representative through what must have been the worst experience she ever had in trying to get someone through this process, and on top of that I made her do it again, because I pointed out that I had not expected to get a variable rate. I was not an easy customer. On the other hand, I dealt with no other company, other than to take a couple of inquiries from them, and tell them I had a process already underway. I was not anxious to sell stock to pay down the mortgage and 'bring $9K to the table' and that caused me to delay a lot. I had reservations for a lot of reasons. Julie was very patient. She put up with a lot. I can't imagine why she didn't quit. However, she did hang in until I finally was in a better place re selling stock (market was not in such a slump) and until some of the mortgage had been paid down simply because I was making my payments.

    I did have the money (which I had to prove over and over again, which I found very irritating). I did have the house. I am financially stable. That may make me unusual in this process, but I don't know. I have a lot of distractions in my life. I was hard to reach on occasion. Honestly, she was so dedicated I would have hated to let her down! She became someone I really felt to be my friend. I cannot recommend her highly enough. She has real chops when it comes to doing what she has to do in the process of getting a very drawn-out (many months) and difficult job done. I was not easy. I did not try to be easy. I did not like dealing with any of the other representatives of the company, which probably made things more difficult. I assume no one will ever be as difficult again as I was but she did it. She deserves praise.

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    Staff

    Reviewed July 5, 2016

    Out of the ones I checked out, Finance of America Reverse came out the best. Talking with their reps was great and the guidance I got was fair.

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    StaffLoan Process

    Reviewed July 5, 2016

    I have a handicapped son and we needed a little extra money to tide us over and get things through. We also needed to finish up some work on our house. I already have a reverse mortgage but I needed an add-on to take out some extra money so we got Finance of America. It was great interacting with their reps. They were nice. Everything went smoothly, except when they didn’t have the right paperwork which delayed it for a while but I can understand that because it was just one piece of paper out of the 20 million in a big stack they bring. All in all, the experience was exactly what I expected.

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    Verified purchase

    Reviewed July 4, 2016

    I wanted a reverse mortgage because it has no payback. The loan officers at Finance of America were fine. I don’t have complaints.

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    Customer ServiceStaff

    Reviewed July 4, 2016

    A rep from Finance of America called me and he was fantastic. He was very accommodating, thorough, and patient. Also, each counselor I was in contact with was very kind and act like they knew what they were talking about. I'm well pleased.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Joyce,

    Thank you for leaving us a review on Consumer Affairs. We are very happy to hear you had such a great experience with Finance of American and with your Reverse Mortgage Specialist. We appreciate you business!

    -FAR

    Verified purchase
    Loan Process

    Reviewed July 3, 2016

    I needed some money so I went with Finance of America for the reverse mortgage. They're the only ones that told me that I could get all of the taxes rather than having to wait another year to collect it. That’s why I was going to buy my brother out of his interest in it in order to keep him selling my stock but I wasnt able to stop him from selling it. My house is worth at least $140,000. The appraiser said it's worth $116,000 and I only borrowed $15,950 and it's $8,000 in closing costs and they held back over $40,000 for tax and insurance in 16 years. I should have gotten about $50,000 or $60,000 out of it. Then they canceled my insurance as soon as they took it out. I got a letter from the insurance company or from the mortgage company saying they're going to place their base policy on it which is cheaper. So I'm really unpleased with it and I will pay it off as soon as possible. There's too much work for too little.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Charles,

    Thank you for submitting a review with Consumer Affairs. We appreciate your business, but would like a chance to clear up any and all misunderstandings. Look for a call from us in the near future.

    -FAR

    StaffLoan Process

    Reviewed July 2, 2016

    Wonderful experience. Will, our contact, was friendly, knowledgeable, and diligent. Everything went smoothly and quickly. It took only three weeks from my inquiry to closing. I would highly recommend them.

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    Loan Process

    Reviewed July 2, 2016

    Getting a reverse mortgage seemed the right thing to do then because of my age and I wasn't working anymore. Two companies contacted me and Finance of America kept the most contact with me, asked if I wanted to know more about reverse mortgage and so forth so I went with them. For the most part, the loan officer was informative and able to explain the process.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Lee,

    Thank you so much for leaving us a review with Consumer Affairs. We appreciate you working with us and that the process was easy and smooth!

    -FAR

    Verified purchase
    Staff

    Reviewed July 2, 2016

    I wanted some security for my wife so did a reverse mortgage as part of my retirement plan. I looked at three companies and Finance of America gave me the better deal on closing. The agent I worked with was very good and it was an excellent experience.

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    Staff

    Reviewed July 1, 2016

    My mother who is 87 years old was not getting enough monthly income any longer to support herself and her typical style, so we needed a little extra money for her. I checked the reviews online and I saw that it was highly recommended by many sites so I got Finance of America Reverse for her. Their rep was stellar and was most accommodating. The guidance I received from him was wonderful.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Karen,

    Thank you so much for leaving us a review with Consumer Affairs. Great to hear the working with Finance of America was a positive experience for you and for your mother. We appreciate your business!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 1, 2016

    My parents did their initial reverse mortgage with Urban Financial and were refinancing that initial reverse mortgage to get a little more money. They didn’t have the kind of money that they expected to have at this point in their live. Everything worked well. However initially, we were told we would get more money than we did. Their reps were very straightforward and answered all our questions. We had some people come out of the blue trying to offer us a lot more money but I don’t think it made any sense because that forces the value of the house up. All the hoops that my parents had to jump through were tough but that was because Urban Financial is now Finance of America.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Janice,

    Thank you so much for leaving us a review on Consumer Affairs. We appreciate your parents working with us on their reverse mortgage and that you have a good experience working with your Reverse Mortgage Specialist. Please let us know if there's anything else we can do!

    -FAR

    Verified purchase

    Reviewed June 30, 2016

    My wife had passed away and I didn't know how long I was going to stay around in my area. I figured I'd do something and get rid of the house and I had checked three or four reverse mortgage companies out before I settled with Finance of America Reverse. I'm behind the eight ball right now though. I'm a little unhappy because I thought I could get more money but I'm not getting it. They told me they'd give me so much money and then they said I can't get any more out of it until March. As it stands right now, I'm probably staying in the house for a while but in spite of that, I'd still recommend them to a friend. It’s a good thing to do.

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    Verified purchase
    Staff

    Reviewed June 30, 2016

    I didn’t have a retirement and the only income I had after I got laid off was my Social Security and that was insufficient. I decided to give reverse mortgage a shot through Finance of America Reverse. So far, it is very good and I’m very satisfied. Everything is going beautiful. I was waiting for things to come through from reverse mortgage and everything is on schedule. Everybody was real congenial, helpful, thorough, and explained everything to me about the obligations and the benefits that I have.

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    Customer ServiceStaff

    Reviewed June 29, 2016

    We needed to fix a lot of things in the house so I did a reverse mortgage. Finance of America gave me a good response while the other companies left a message that said they'd call me later but they never did. The rep was courteous and explained everything to me. They're a great company and they had all the information I needed.

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    Customer ServiceStaffLoan Process

    Reviewed June 28, 2016

    I had been looking at reverse mortgages for several years, off and on, and just waiting until the time was right and reverse mortgages got more regulated. About five months ago, I decided to get a little more serious about it as part of my financial planning. Finance of America Reverse was one of the first companies that came up online. After I started working with my agent, I did some research on them to be sure that the company was nice and solid. I figured it was a mortgage company and didn't want a company that was going to go under.

    The loan officer was very friendly and personable, took a lot of time to explain aspects of the reverse mortgage process to me, and was very patient in answering my questions for a number of days. I felt very well-informed and knew how well-informed I was when I had my counseling appointment. I understood everything that the counselors were talking about, and I was able to answer my questions to their satisfaction, which again assured me that I was getting good information from my agent and also reading good information. However, there were a few minor details that I didn't totally understand in spite of my counseling and some things that slipped by me. Nevertheless, I'm glad that I did the reverse mortgage. I have not invested my lump sum of money yet, except into a high-interest savings account, and with the stock market doing what it's doing, I'm very glad that I have it in a high-interest savings account rather than having it invested.

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    Verified purchase
    Staff

    Reviewed June 28, 2016

    I needed some money to help me pay for the work on my home. The people I spoke with at Finance of America Reverse seemed really nice. I'm 63, lost my husband in 2011 and didn't trust anybody but the guy I talked to helped me to understand everything. He didn't push me into getting the reverse mortgage but told me to check it out a bit which I did and the rest is a breeze. I felt really comfortable with him. If somebody were to ask me how I paid off the work on my home, I would tell them about the company. Aside from the young man, I also spoke with two ladies and they really put me at ease.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Pamela,

    Thank you so much for leaving a review with Consumer Affairs. We are so pleased to hear that you had a great experience with your Reverse Mortgage Specialist and that you would recommend out company to others!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 28, 2016

    My husband was going to have reverse mortgage if he hadn’t passed away, but I figured if that’s what he wanted to do, then that’s what I would do. So I got Finance of America Reverse and so far, no problems. Everything’s working out great. We completed the whole process and I’m happy. The loan officer was absolutely fantastic. She explained everything to the tee to me. I know some of what goes on with that stuff so it was easy to understand and she just made it fantastic for me.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barbara,

    Thank you for leaving a review with Consumer Affairs. We appreciate your business and happy to hear everything went well.

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 27, 2016

    I picked Finance of America Reverse out on the internet. Their rep was 1,500 miles away. I talked to him on the phone and he was as helpful as he could be. But if I had to do the process again, I would go straight to a local bank and I would recommend that others do the same. There was so much mailing back and forth and a lot of unexpected stuff. I didn't understand that.

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    Customer ServiceStaffLoan Process

    Reviewed June 26, 2016

    A friend down in Texas told me about Finance of America Reverse as her mother or her mother-in-law had done it one time. Then I ended up getting a hold of John and then we talked several times and we’re trying to figure out what was gonna happen with my wife because of her condition. She had cancer and she wasn’t able to work and I wasn’t able to work because of that. And so we got back on nearly all of our bills and that’s why we finally ended up having to do reverse mortgage. It worked out so far. I’ve had a great experience with Finance of America Reverse and I’m very happy with the whole situation.

    John was very pleasant and I enjoyed working with him very much. He was supportive and when he found out my wife had passed away on April 21st, he was real concerned and called several times and asked how I was doing and that meant a lot to me. And also, when they set up interview, calling to see about my reverse mortgage, the guy I talked to said a prayer for me over the phone after he found out the situation. That all meant a lot to me. Everything worked out good for me and I can’t ask for anything better. I wish it had happened sooner so my wife would have been able to enjoy it, too. I haven’t got caught up on all my bills yet but I’m working on it.

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    Verified purchase
    Staff

    Reviewed June 26, 2016

    Tamika, who was in charge of us, was very knowledgeable about Finance of America and what they can do for you with reverse. She was also consistent in calling and she kept us up to date. Everyone that came by in regards to the change of the mortgage was very knowledgeable and polite, even the adjustor.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Norma!

    Thank you so much for leaving us a review on Consumer Affairs. So glad to hear you had a great experience with your Reverse Mortgage Specialist. We appreciate your business!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 26, 2016

    Their loan officer was very knowledgeable and the process went really fast. It was 45 days and it was a good experience.

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    Verified purchase
    Customer ServiceStaff

    Reviewed June 25, 2016

    I talked to a couple of agents and I felt very comfortable with the agent whom I worked with from Finance of America Reverse. He stuck with me all the way through it which was great because he kept me informed when he should have never dropped the ball. I appreciate his professionalism because I'd rather deal with somebody that knows what they're doing. He did an excellent job. Everything was, if not expedited very swiftly, done on time. I appreciated the fact that my time wasn't wasted. I would ask him what he needed and he told me. He sent me a list to follow-up our conversations every time and it was just easy. The training that he had or the years he's been doing it was probably the key because it’s just how it shows.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Judy,

    Thanks for leaving a review on Consumer Affairs! Sounds like the process went exactly like it should. We appreciate your business.

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 25, 2016

    We had so much equity tied up in the house that we wanted to withdraw some. We did it thru Finance of America Reverse. The loan officer that we talked to was very professional and knowledgeable, and he really got us the best deal that we could find.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Lou,

    Thank you so much for leaving us a review with Consumer Affairs. We appreciate you working with us on your Reverse Mortgage and so please to hear you had a positive experience!

    -FAR

    Verified purchase

    Reviewed June 25, 2016

    We were getting into a financial problem because I shattered my foot and ankle two years ago. I was out of work for a year and there was no other income coming into the house except for our Social Security and you can't buy beans with that. So, we decided to check into a reverse mortgage. The first company was wishy-washy. Then when Finance of America Reverse name came up, we called and talked to Marina **. She sent us a bunch of paperwork on the computer and I thought we'll go with it. Marina has been pretty good, straightforward, wonderful and fantastic. I am happy with Finance of America Reverse but there's room for improvement on that paperwork at the beginning. We signed about 400 pages twice when it's supposed to be a paperless world now.

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    Staff

    Reviewed June 24, 2016

    We had a reverse mortgage before, sold that house and it worked out really well, so it's a good avenue because you don’t have a monthly payment and it's a safe program. Finance of America Reverse's rep, Jason, was helpful and did a very nice job. In our last reverse mortgage, it took five months to get it. This one took five weeks. It was simple, easy, and very quick. I'm extremely satisfied.

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    Verified purchase
    StaffLoan Process

    Reviewed June 24, 2016

    Having a reverse mortgage worked out for me exactly as planned. I studied it ahead of time and talked a long time with Finance of America Reverse and negotiated the best deal I could. I’m happy and they seem happy. Everybody wins; nobody loses, as far as I can tell. The loan officer was first-rate all the way. I got some of the mail with the wrong information, but he had given me the correct information after.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Herring,

    Thank you for leaving a review with Consumer Affairs! We appreciate your business!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 24, 2016

    The person from Finance of America Reverse that took care of me was very nice. She guided me through the process. So far, I'm satisfied. I just have a little concern on some money that got paid double because they paid it and I also paid it, and I haven't received my money back. But I'm talking to them to see if they're going to straighten that out. Nothing’s perfect but it was a good experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    William,

    Thanks for leaving a review! We're really happy you had a great experience!

    -FAR

    Verified purchase
    Staff

    Reviewed June 23, 2016

    Finance of America was rated number one at ConsumerAffairs and Consumer Reports, so I went with them when I needed a reverse mortgage. Their loan officer was the nicest person I ever talked to. They explained everything out and things went smoothly, which was really good and made my experience really easy.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Kenneth,

    Thank you for leaving a review with Consumer Affairs! We're glad to hear you had a great experience with FAR!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 23, 2016

    I have been planning to do a reverse mortgage for six years because I never intended to take social security. And even at 66, I wouldn’t take it for another four years until I really had to. This was to help things out in the process. I contacted some other companies a year ago and was disappointed to be turned down. Around April of this year, Finance of America called me and that’s how it all began. They knew that I had called a year ago to others and they took responsibility for it. These people seemed to have an answer.

    It worked out so far with them. I’m paying bills and I have this way of putting ‘PIF’ in my checkbook which means ‘Paid In Full’. I sit here waiting to write a check and I have nobody I owe money to. It’s a very strange feeling because I have the same bill coming month after month, and all of a sudden, there’s zero balance due. It’s just, “Wow!” Also, I didn’t have to pay my property tax because they are paying it and my household insurance as well. I talked to the girls down there and they said that I'm paid for the year.

    There were a few mistakes like I had to do the notary public twice as they sent the materials on to someone else and that’s a time-consuming thing. Another one was the counseling. We did that on the phone only to find out that Minnesota is the only state that doesn’t allow it to be done over the phone, and they learned something from that. But every time I call them, they either answer my questions right away or they call back as soon as they could and answer it. They walked me through every step and I never went into this blindly. The reverse mortgage is doing what I had hoped. It's a good feeling and I don’t have to worry about that.

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    Staff

    Reviewed June 23, 2016

    Everyone is welcoming and very knowledgeable at Finance of America Reverse.

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    Verified purchase
    Customer ServiceStaff

    Reviewed June 22, 2016

    I checked on the internet for the different companies that did reverse mortgage. The other two companies would send me a CD or tried to call me back in a week. But with Finance of America Reverse, the individual that I talked to initially took plenty of time with me, was very helpful and always called me back. The company was very courteous, on the ball and very much in touch with me. One gentleman in particular would call me even if he didn’t have anything to update. He was excellent and even gave me a personal number that I could call on weekends when they weren't in the office. Everything was absolutely very professional.

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    Customer ServiceStaffLoan Process

    Reviewed June 22, 2016

    My vehicles were getting up and I want one vehicle and get rid of the other two including their insurance and upkeep. A gal that I talked to when I called the number that was on TV guided me to Finance of America. Their loan officer was very helpful and kind, and everything went really smooth. It was fast and timely. I went with their reverse mortgage and got a newer vehicle that still got warranties on it hoping that I don't have to buy another one.

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    Verified purchase
    Staff

    Reviewed June 22, 2016

    I could stop paying child support and I needed the money back in my wallet so I had a reverse mortgage from Finance of America. Their reps answered every question I had immediately. And every time I needed to ask another question, they were right there for me. I now have the money to pay my taxes.

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    Verified purchase
    Staff

    Reviewed June 21, 2016

    My son is a financial adviser of Finance of America Reverse and he got me there. We thought a reverse mortgage would be a good idea to fit into our situation. Their reps were very good, extremely knowledgeable and answered all our questions. They are easy to work with and understand.

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    Customer ServiceStaff

    Reviewed June 21, 2016

    I read many reviews regarding reverse mortgages. This company rated very high, I totally agree with that rating. I was working with William ** & Crystal **. They were both wonderful. They kept me up to date every step of the way. In a world where customer service appears to be disappearing, it was so nice to deal with people that genuinely appeared to care about me.

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    Customer ServiceStaffLoan Process

    Reviewed June 21, 2016

    I’m a stroke victim and have a round-the-clock care that’s very expensive so I need money to pay for my care. Having a reverse mortgage was the easiest way that I could get some money that I needed desperately. Dealing with Finance of America Reverse's loan officer was very positive. I even had a little think-of-you-note from one of them that I talked to on the phone so many times, which was a very nice thing to do.

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    Customer ServiceStaffLoan Process

    Reviewed June 21, 2016

    I applied for a reverse mortgage for my in-laws' retirement plan to help them along the way. I had an aunt and an uncle who did that and they liked it, so my in-laws wanted to give it a shot when I mentioned it to them. They've been in it for a couple of months now. The loan officer was really good, helpful, and very knowledgeable. I was able to contact her right away every time we had questions and she'd return our calls immediately. But when we finally got the paperwork sent to us to fill out, it was an application for somebody completely different and we had accessed their personal information. They did assure us that our paperwork didn't go out to anybody else and was corrected right away. They were really quick to fix it and we then got our paperwork within the next few days.

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    Staff

    Reviewed June 20, 2016

    My wife, 68 and I, 71, still have 18 years to go on the mortgage which I'd never pay off so to eliminate the payments, I wanted a reverse mortgage. Finance of America Reverse seemed to have all the answers. The woman I dealt with, Monica, was nice and everything she had told me was true. We're a couple of months into it now and so far, I'm happy with their service.

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    Verified purchase

    Reviewed June 20, 2016

    I needed help and Finance of America seemed more interesting than the other companies. I found their guidance to be very interesting, solid and worth well.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Betty,

    Thank you so much for your business. Appreciate the review.

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 20, 2016

    I looked up at consumer reviews from people that had gone to Finance of America Reverse and they were the most positive reviews among the ones that I saw. Their loan officer was super helpful every step of the way. She answered every question. Every time I wrote her an email, she was really quick to respond back. She laid out options, too. She was really easy to work with. They set up the guy that came out to evaluate the property and sent out the notary public through to get all the paper signing. Everybody that worked at Finance of America that I talked to was nice.

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    Customer ServiceStaff

    Reviewed June 19, 2016

    A situation last year had drained me financially and getting a reverse mortgage was the only thing I felt I could do. I talked to multiple companies and had one deal fall through because I got mad at them. However, Jamie from Finance of America Reverse was the one I felt like I trusted and could talk to. She was amazing and I was sold on the company because of her. I could call her anytime and she didn't sugarcoat anything or pulled any strings - she explained everything to me, told me the truth about things and tried to help me in every way that she knew to do. I wished the appraiser had valued it closer to what the county that I live in has, but they didn't. They were about $20,000 shy of what the county appraiser has appraised that, but Finance of America had no control over it.

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    StaffLoan Process

    Reviewed June 19, 2016

    I’ve dealt with a number of lenders and when you really pin them down, their commissions were between $10,000 to $12,000. Finance of America Reverse advertises that they're direct lender so I went with them and had Laura handle my reverse mortgage loan. She was very straightforward, honest, very congenial and very helpful. We talked quite a bit and she walked me through the process. We kicked this around for a month before we did the closing. The guidance they provided was more than adequate.

    The only glitch we had was the appraiser who was a real jerk and appraised a lot lower than I thought. He asked, "Is that a wood-burning fireplace?" I said yes but he put in “No fireplace” on the appraisal. Since we had a time thing going, it wasn't worth redoing the whole thing over that. We would have to wait a period of time for another appraisal, so I took his. But I was very disappointed in him and Finance of America Reverse needs to look at finding somebody who has half a brain. Other than that, I have recommended Finance of America Reverse to friends.

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    Staff

    Reviewed June 19, 2016

    My sister and brother-in-law wanted a reverse mortgage so I went online and found Finance of America Reverse. After talking with the rep who was very helpful, I felt getting them was the right thing to do. They seemed to be reputable and a company I would like to do business with. Their service has been great and it seemed they were able to follow through on everything we needed. Working with them is enjoyable.

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    Customer ServiceStaffLoan Process

    Reviewed June 18, 2016

    I had a good experience with Finance of America. I learned a lot in a fun way. In fact, I was educated in accomplishing something important. Jesse, a rep from Finance of America, was absolutely wonderful. When I get a letter in the mail or something would turn up, and before I had a chance to call him to say that I don’t understand, he was on the phone with me. He held my hand through the entire process. I knew exactly what I was doing this time as opposed to the very first time when I did it with RMS. I had no guidance before - I didn’t know where I was going, I didn’t know exactly what I was doing, and I had to do a lot of research myself.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Cheryl,

    Thank you for the review on Consumer Affairs. Glad to hear we made the process easy for you. We appreciate your business.

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 18, 2016

    I read about the reverse mortgage and I had to take a class. It seemed like it was ideal for my particular circumstances. I went through the internet and saw dozens of bad reports, and Finance of America didn’t have any which means there was nothing bad and the good people are happy. Their loan officer seemed very efficient. In fact, I told him that he's very professional. It went the way it’s supposed to and there was not a single hiccup in the thing. At the end, they told me, “Don’t worry. It won’t hold us up. We’re online and it will happen,” and it did. It’s all done now and it went better than I expected.

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    Finance of America Reverse
    Response from Finance of America Reverse

    George,

    Thanks for the review. Sounds like you had a seamless process. Glad to hear all went well!

    -FAR

    Verified purchase
    Staff

    Reviewed June 18, 2016

    We're very pleased with Finance of America Reverse. We talked to a guy in Indianapolis but his appraiser was right over here from Kalamazoo, which is not too far from us. And the woman that had to notarize all our signatures is right here in Battle Creek, which is only 25 miles. So, they had people right in our area and they were all very nice.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Mary,

    Thanks for the review! Happy to hear you were pleased with our services!

    -FAR

    Verified purchase

    Reviewed June 17, 2016

    It was prudent to have a reverse mortgage. Finance of America has attentive service right from the beginning. They were sufficiently frequent with the callbacks whenever necessary and the handling of the several side issues that developed was always in good hands. Things were done properly, we were guided well, and it worked well. We would recommend them to anybody who inquired about what we have done or what they have.

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    Customer ServiceStaffLoan Process

    Reviewed June 17, 2016

    Finance of America's fantastic. A lady contacted me and without her, I would’ve never pursued this loan. She was always prompt, up to the point, honest, forthcoming, informative, kind, courteous and understanding. Other people are not that kind. The other companies that contacted me were very short and just wanted to make a commission by selling the loan. They wanted to get to business and don’t involve with the problems that we have with the loan, but Finance of America wanted to help and worked with me every step of the way and they never ever failed. They returned phone calls and emails immediately. The guidance I received from them was 100% correct and within one month, we've got all the documentation. The only delay was the appraisal of my house. Otherwise, it would have broken all the records of financing this property. It was one of the best transactions I had with a finance company.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Totada,

    Thank you for submitting your review on Consumer Affairs. We really appreciate your business and are thrilled that you had a fantastic experience.

    -FAR

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    Customer ServiceStaff

    Reviewed June 17, 2016

    I had saved up some money and I thought that would carry me over. Then my daughter ran into a few problems and I had to help her, and it depleted my savings. That’s the reason I did reverse mortgage. I went online and picked Finance of America Reverse. They told me when I made all the plans, they were gonna send my insurance company the balance of what I owed which as $600 and some. I did it in a hurry. They did all the work and I haven’t had any problems.

    But the problem I have now is that Citizens Insurance sent me a letter that they are going to cancel mine because they received the checks but Finance of America Reverse put the wrong name on it. So Citizens sent it back and I hadn’t gotten anything from them. I’m in a pickle and now I stand a chance of losing my house insurance because of it. I’m very alarmed as I don’t know what to do. I wanted to call them as I'm really nervous about it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    JoAnn,

    Thank you for leaving a review with Consumer Affairs. Glad to hear your process went well. I will have someone follow up on your case.

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 16, 2016

    I chose Finance of America Reverse because of the reviews. I was looking to free up some money and eliminate my monthly bill. My loan officer was very helpful. He did the research online and read about quite a few different companies. We made a call and a young lady named KC helped us on the phone and was very upfront. I got the same response from a gentleman when I did the counseling. He was representing another company and his input was basically the same as what I received. I felt pretty good about it and we went ahead and did it. The experience was great and seamless. The process went very easy and smooth between KC and the appraiser. He was very friendly. Everybody seemed to be very good and very professional.

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    StaffLoan Process

    Reviewed June 16, 2016

    I know a little bit about the business so I know those that pose and just make promises they can’t keep and those that make reasonable promises and I felt that Finance of America Reverse could do what they say and they were very professional. The loan officer was great. She met all their promises, got everything done on time and worked hard.

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    Verified purchase
    Staff

    Reviewed June 16, 2016

    There are some things that we wanted to do and we didn't have the finances to do it. So, doing reverse mortgage seemed like the right way to go to do it. Choosing Finance of America Reverse had a lot to do with the way things were explained to me by Cindy when I was speaking with her. I spoke with somebody else out of Birmingham and this guy was a know-it-all. He expected me to know everything and it really turned me off. Cindy was very helpful and insightful in giving information and explaining things to me where I understood them, and she was not pushy about it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for placing a review with Consumer Affairs. Its good to hear we were able to help you understand the entire process.

    -FAR

    Verified purchase
    Staff

    Reviewed June 15, 2016

    Finance of America was better than the other companies. I spoke with one of their reps and she was very helpful. Everything that I asked her to do, she came through and she stood by her word. I'm very satisfied.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 15, 2016

    I posted on the Internet about wanting to find out about Finance of America Reverse. A member of their team saw it and called me. We went to a counselor paid by a government grant and she gave us all the right questions to ask, and I was satisfied with the answers I got. The loan officer was very nice. So far, we’re pleased with Finance of America.

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    Customer ServiceStaffLoan Process

    Reviewed June 15, 2016

    The rep from Finance of America Reverse went over with us, then he took time to go over with our kids on a conference call. He’s very thorough. It is a long process, but they’ve got a great plan and so far, everything’s been really well. There’s a lot of trees that are cut down unnecessarily, but other than that, it’s been excellent.

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    StaffRates

    Reviewed June 14, 2016

    We cannot say enough good things about Finance of America Reverse and the people we worked with. We checked out numerous lenders before settling on this company. Finance of America Reverse had the best rates of anyone we talked to and as we found out, the best company and people. Chris **, our adviser is as far as we are concerned the best and easiest person (and most fun) to work with in this business. Our processor, Esther ** is an angel. She worked through a very traumatic problem, getting it resolved in record time which allowed the mortgage to close in less than a month. Without the guidance and help of these two people I feel this mortgage would either not have been completed or would have taken possibly months to close. Thank You Finance of America and Chris and Esther.

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    StaffRates

    Reviewed June 14, 2016

    I decided to retire but there's still six years more to go before my property will be paid out. And when I retire, my social security pension is never enough to pay the mortgage and other bills. I was really worried. I heard about reverse mortgage before but I doubted because all I hear is I will be losing my property if I do it. I didn't mind at all, then I went into the computer, studied it, checked it, and thought maybe this will help me. The Finance America loan officers were very helpful, especially Toby who was also very nice. I've been telling friends about Finance of America Reverse because like myself, when I first heard about it, that they'll be losing their property if they get into reverse mortgage. So I'm explaining it to them that no, it is still their property. I'm very satisfied with Finance America but I'm still worried about it since interest is added to the loan amount, so the loan amount will be increasing every year.

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    Customer ServiceStaff

    Reviewed June 14, 2016

    The people at Finance of America were very professional and as far as we know right now, they led us in the right direction. We have spoken on the phone with Ella, a representative out of California, and she was very personal. Even though she was in California, it seemed like she was in the living room with us. She was very professional and polite, and knew her business. Her guidance was very enlightening and acceptable in what we wanted to do.

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    Staff

    Reviewed June 13, 2016

    I'll be 69 years old in November and I still lack about six years having my house paid for. And if something happened to me, my wife wouldn't be able to make it, and that's what made me choose a reverse mortgage. The gentleman I was dealing with from Finance of America was very pleasant and he seemed knowledgeable. I later found out I could've probably done a little better somewhere else but I'm okay.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Perry,

    Thank you for your review on Consumer Affairs. We're happy to hear you had a good experience!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 13, 2016

    Finance of America Reverse's cost was more reasonable than a lot of the other companies. However, I had a problem with them. We had a little incident with the insurance company and we had to sign a check and send to Finance of America. We sent it certified and we didn’t get the return receipt until two weeks later. So now, we did it again and still we have not received anything from them. It seems like they would have addressed it sooner than they did because then we had to wait until the check was canceled because it didn’t show up to two weeks later. Now, they got a whole lot of questions about the contractors and we have not received a dime yet.

    It’s ridiculous. They should have more consideration for their clients and not have to make them wait for 10 days. It’s been over a month and we haven’t heard from them yet. We sent another check with our signature because it’s three-party. If Finance of America is still holding it up, they don’t care. I’m not pleased with Finance of America and I’m very dissatisfied with the way they handled this incident. They need to make adjustments because we had a lot of damage. We couldn’t even stay at home and Finance of America is dragging their foot. We had to have all these floors pulled up, had to go to a hotel and had nowhere to eat.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Audra,

    Thank you for leaving your review. We will contact you to answer all of your questions shortly. Sorry for the delay and any inconvenience.

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 13, 2016

    I decided a reverse mortgage was what I needed to do and John, the Finance of America Reverse rep I talked to, was the most efficient person I'd ever heard. He called me back immediately unlike the other companies who didn't call me back for days. Every time I wanted to get something done, he got it done. The loan officer was courteous.

    Their guidance was adequate, but my concern right now is I paid my taxes but I need to know how to contact Finance of America and let them know that I did. I also wasn't alerted to the fact that because taxes are paid in arrears, they were not paid this year. I was really disappointed with that as it should have been part of the package and I should have been told in advance. I used to sell real estate and know how banks take care of this, that's why I was mortified when I had to pay it. I need to get ahold of them. Otherwise, I would be sent a nasty letter saying that I better pay the taxes because if I don't, my house would be reclaimed. I could budget for it monthly after that, but I didn't know I had to come up with this huge lump sum. It was very upsetting.

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    Verified purchase
    Loan Process

    Reviewed June 12, 2016

    I needed to pay some bills and take care of the house, so I went with Finance of America for a reverse mortgage. I talked with the loan officer to ask if I could get a VA loan so I wouldn't have payments. It's better than paying 600 bucks a month. I've been doing fine and I'm pretty pleased with the experience.

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    Verified purchase
    StaffLoan Process

    Reviewed June 12, 2016

    We have a house that's too large for us, and my husband is not extremely well. He doesn’t walk without assistance due to a fall he had almost two years ago so we had used a lot of our money for our savings. We owned our house free and clear so it's open property around us and we needed to have a new well and a few things like that. A year ago, we had applied for a reverse mortgage with a local company here in Tennessee and it was not approved. So last October, a gentleman contacted me from Finance of America Reverse and said, "I see where you have applied for a reverse mortgage and I can imagine why you couldn't get one. Maybe you might with us. Take a look at it and see if we could help you." At that point, we were over it. We waited a couple of months and he kept calling off and on a little bit every now and then. Then we decided to allow him to do that.

    The loan officer was excellent, cordial, and informative, and worked hard. He even included information about things we could do later on in another year or so. I think we got a lot of good information from Finance of America Reverse beforehand. The only thing was that we did have to do a lot of running to get paperwork and things together, but other than that, everything went extremely well. It was a positive experience.

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    StaffLoan ProcessRates

    Reviewed June 11, 2016

    My mom had a mortgage and we rewrote it with Finance of America for a lower interest rate. I did most of my mom's refinance with them because I have her power of attorney. We went with them because they had the best rate and the individual who was helping me was very persistent. He was very helpful and every time there was a roadblock, he helped me get around it. However, we had to go through a lot of stuff to get the refinance done because the mortgage was in a trust, and so there were a lot of things the rep didn't know we needed, and the underwriters kept changing things, but that was the only bad experience we had with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Don,

    Thank you for taking the time to leave a review with Consumer Affairs. We are pleased to hear you had a great experience with your Reverse Mortgage Specialist and we appreciate you choosing us for your mother's refinance!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 11, 2016

    We decided that we would go for a reverse mortgage and it’s worked out well so far with Finance of America Reverse. The loan officer tells us whatever we wanna know and was very helpful. Everything was good with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Linda,

    Thanks for the review. Happy to hear our team was able to be helpful during this process.

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 11, 2016

    I had a lot of damage in a part of my house and it seemed like it's time to go through things and get on an even ground. It seemed like a lot to go through but I saw the wisdom of the guidance from Finance of America. By the time it was over, I was very pleased that it all went very smoothly. Their loan officers were very kind, pleasant and gracious.

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    Verified purchase
    Customer ServiceStaff

    Reviewed June 10, 2016

    I had lost my other home in a fire, and I took the insurance money and paid cash for this house I have in Palm Desert. I paid it off, and then I bought it for cash after. I decided to take a reverse mortgage so that I could continue to keep the house because I didn’t want payments. And my taxes were really high, and I had to do some home improvement. I also had cancer and had high medical bills. I called my reverse mortgage company, which was Celink, and they told me they didn’t know reverse. They didn’t do them themselves but they used Urban Financial, which changed their name to Finance of America Reverse.

    Then I met their rep Caitlyn and we became friends. When I decided to do it, I didn’t want to use anybody but her. She helped me every step of the way. I didn’t have to think or do anything. She did it all for me and kept me posted, and she did a good job. She follows up on every little thing and is a superb human being. The only thing is that during the first year, I can’t take much money. I can’t take more than $10,000 that first year and I need to buy a car. I had to wait for the second year, and it mainly forced me to save money. Other than that, Finance of America does a lot of different things and they're pretty good. They find and get it all down, facts and everything.

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    Verified purchase
    StaffLoan Process

    Reviewed June 10, 2016

    I had a great experience with Finance of America Reverse. The man that handled me out at Indianapolis was spectacular.

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    Verified purchase
    Staff

    Reviewed June 9, 2016

    So far, our experience with Finance of America Reverse has been fine. I got it for the extra income, mainly for my daughter. Their sales rep was so persistent so we went with them. He did a good job.

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    Verified purchase
    Customer ServiceStaff

    Reviewed June 9, 2016

    We had some debt to pay off that we wanted to take care of so I looked on the internet and Finance of America Reverse had really good reviews. I filled something out on the internet and the guy we worked with called me right away. He was really professional and really nice. Everything went really smooth and we were impressed with how everything went. He even gave me his manager's phone number. If I call them, they call me right back. They were always available. I was very pleased. It worked out really well.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Carol,

    Thank you for taking the time to leave a review on Consumer Affairs. It's great to hear that you were pleased with your Reverse Mortgage Specialist and our overall service. We certainly appreciate your business!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 8, 2016

    I got the help of Finance of America Reverse to pay up my credit card so I won't deplete my savings. Despite a lot of paperwork, they were good. The guy I dealt with was very nice, considerate and helpful. Now I want to know if they also reverse mortgage on a mobile home but the guy who I dealt with won't return phone calls.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Billy,

    Thank you for leaving a review on Consumer Affairs. Glad to hear you had a good experience with our team. We will have someone call to follow up on your inquiry.

    -FAR

    Verified purchase

    Reviewed June 8, 2016

    About 3-4 years ago, I refinanced my first mortgage with 15-year note. And then, my financial situation changed a little bit and the mortgage has become too expensive for me. I thought then that if I do a reverse mortgage, I don’t have to pay anything anymore. So, I did that with Finance of America Reverse. It’s only been a couple of months old but everything went very smoothly. It was fast and it went according to how everybody told me it was going to go.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Gregory,

    Thank you for taking the time to leave a review with Consumer Affairs. Very glad to hear the the process went smoothly and you are now enjoying no mortgage payments. Please let us know if there is every anything else we can do!

    -FAR

    Verified purchase
    Customer ServiceRates

    Reviewed June 7, 2016

    Someone from Finance of America called us and said that we can stay in our home without making payments. They kept calling us and telling us what a great deal it was so therefore we chose them. We didn’t realize how much the interest rate and the cost. It was phenomenal which was a big shock for us and it really blew us away. I guess we really didn’t fully understand. Then they sent someone out here to the house for us to sign papers. If we did it all over again, we would probably have gone to a title company and have people explain what we did, but it's too late now. We're not sure what we're gonna do next.

    I got no guidance Finance of America and the statement that we don’t have to make payments wasn’t true. We still have to save at least $700 and an amount per month to pay taxes and other stuff we didn’t understand. I think that they shouldn’t call over the phone. They shouldn’t sell things to you and say it's free when it's not. I think that it was misleading. I would never recommend them. It's a bad thing to do and I don’t know how to get out of it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Angela,

    Thank you for submitting your review on Consumer Affairs. We would like an opportunity to understand what happened and answer all your questions. You should hear from us shortly.

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 7, 2016

    Things got really tight money-wise because I live on my social security and I had a 15-year home equity loan that I was paying. Over $400 a month was going to pay that out of my social security so that left me with $600 a month to live on. It got too much I couldn’t do it. I looked into a couple of different companies and then I chose Finance of America Reverse as I liked the person I dealt with. He was really nice on the phone and he kept in contact with me mostly every day as the thing proceeded. At the beginning, they kept saying it would only be two months but it turned into six. I started in October and it didn’t get finished until the beginning of April. It got delayed by a lot at the end. Then it’s been a couple of months since I got that $400 a month back and so far, so good.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Elena,

    Thank you for taking the time to leave a review with Consumer Affairs. We are pleased to hear you had a great experience working with your Reverse Mortgage Specialist and that the Reverse Mortgage had a such positive impact for you!

    -FAR

    Verified purchase

    Reviewed June 6, 2016

    Finance of America Reverse was good and I like it. However, the loan officer did the reverse mortgage three times and I had to pay for it three times as well in which it should have been once. They said that it wasn’t going to be appraised and they got somebody to do it and appraised it lower than the taxes. It was a tax evaluation, it should have never been done, but I’m okay with it though.

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    Verified purchase
    Staff

    Reviewed June 6, 2016

    Finance of America Reverse was excellent. Dominick was very wonderful and a very good agent to work with. I'd recommend them.

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    StaffLoan Process

    Reviewed June 5, 2016

    I bought this house and it's just me so I decided having a reverse mortgage was the best thing to do. I talked to three mortgage companies and they’re almost the same so I went with Finance of America. The loan officer was really nice. We’ve talked and they sent me paperwork that I filled it out and they called me. It didn’t take long to do it at all.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Cynthia,

    Thank you very much for the review. We appreciate your business and wish you the best!

    - FAR

    Verified purchase
    Staff

    Reviewed June 3, 2016

    I purchased my home in 2007 and due to my professional and personal situation I was forced into an "owner finance" situation. When I decided to do the reverse my situation and the mortgage were a challenge however Olivia and Erica and the Reverse team were and are amazing! When we had a challenge they made sure I knew what to do. They guided me on paperwork and made sure that every detail of my package was handled in a professional and timely manner. I will happily and actively work to refer others to this amazing professional group!!!

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    Finance of America Reverse
    Response from Finance of America Reverse

    Judith,

    Thank you so much for the review. Really happy you had a great experience!

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 2, 2016

    My wife and I were so happy we were able to secure a reverse mortgage thru Finance of America, our specialist J **, was so knowledgeable of the entire process, she answered all our questions, was so caring, and from start to finish it only took 20 days! Now, we have no mortgage payments, have money to spend so we can enjoy our retirement more and not have to worry!!! It is a blessing to our lives. Thank you Finance of America Reverse, and especially J. **, can't Thank You enough!!

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 2, 2016

    The agent that I talked to from Finance of America Reverse had promised faster response than the others and a cleaner process getting it done, that’s why I chose them. She seemed to know what she was doing and seemed to be willing to try to push things along without a lot of re-deals. The guidance I received in making my reverse mortgage decision and discussing my retirement options was a long process but I had already researched it. And they explained the various options so I was satisfied with them.

    However, it took longer than promised and that was a point of irritation. Since we had absolutely no complications, we had no mortgage on our house, we were the perfect candidate, and everything got done. And then there was three weeks of arbitrary waiting. It’s nothing but paperwork on their end and that was annoying. Also, they renamed themselves twice during the process. But other than that, the experience was fine.

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    Verified purchase
    StaffLoan Process

    Reviewed May 26, 2016

    I did a lot of research and Finance of America Reverse was one on my list. I decided to go with them because they were very personable, helpful and knowledgeable. Their loan officer was very good. They gave me all the knowledge that I needed to have and wanted to know. They also gave me the best program and closing cost. Choosing a reverse mortgage was the best thing for me to do. Living on Social Security and not having to make a house payment helped me tremendously.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Good Afternoon Patsy,

    Thank you for taking the time to review your experience with Finance of America Reverse. We are so glad to hear that our loan officer was knowledgeable and helpful. Thank you for letting us earn your business.

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 25, 2016

    I did a little bit of research on reverse mortgages and I liked what Finance of America Reverse had to offer and the program that it was set up on. I talked to a consultant and I was impressed with what he had to say. The guy that I worked with explained everything in detail. Their loan officer and I had a little bit of contact for a while. I’d check in with him and he’d call me. He seemed to be right on top of everything. He was extremely cordial, polite and very knowledgeable about the programs they offer. The guidance they gave me was a definite plus too. If there was any question I had, I would ask and they would answer it. They were extremely professional and they knew their business.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hello Joseph,

    Thank you for letting us know how your experience went with Finance of America Reverse. We appreciate your kind words, and we appreciate your business.

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 25, 2016

    I can't say enough good things about this company and the people who helped me. Chris ** "held my hand" and explained everything as we went through the process. He was very professional and never seemed rushed although I took a lot of his time. He made the process easy and fast. Mary ** was also very helpful in finishing up the loan documents and was very professional. Some items were hard to get but she kept at it until they responded. Overall, it was a great experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Good Afternoon Kathryn,

    Thank you for sharing your experience with us. We will pass along your feedback to Chris and Mary to share with their teams. Every reverse mortgage is unique and we are glad to hear they were able to help get even the difficult parts wrapped up for you. Thank you for your time and your business.

    -FAR

    Verified purchase
    Staff

    Reviewed May 25, 2016

    I was in trouble with my taxes and Finance of America Reverse made offers to me that sounded good so I chose to have a reverse mortgage as part of my retirement plan. The lady that took care of my case was wonderful. I got enough money to pay off my credit cards and taxes. They told me that I’d never have to pay my taxes again. I have an extra $1000 because the taxes weren’t paid off. Now, I have to come up with $6000 in taxes so I’m a bit upset with them. There’s no other solution for me. I’m dissatisfied because I have the same problem that I had last year. I thought I would never have to worry about my taxes again but now I’m back in the same hole again. But the thing that kills me the most is that I’m paying taxes on $158,000 but my house is placed at $85,000. I don’t understand. I’ve lived in this remodeled house for 41 years and I might have to sell it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Janet,

    Thank you for placing this review. We will be contacting you to get a better understanding of what has happened.

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 24, 2016

    I got to thinking about how nice it would be to not have a house payment and that I wanted to buy a new motorhome to travel a bit, so I figured having reverse mortgage as part of my retirement plan is a good way to do it. My mind was made up already, so they didn’t influence me in any way. I needed to find someone to do it for me which Finance of America took care of. I put a request in the internet that I was interested, and they were one of the ones that called me back. Everything was fine. They were very courteous and called back when they were supposed to and did what they said they were going to do, so I was quite pleased with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Andrew,

    We are really happy that the reverse mortgage met your needs. Thank you for sharing your experience!

    -FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 23, 2016

    Things went all crazy and mixed up when I had applied with another company. Luckily Finance of America Reverse called me and their enthusiasm went to me. I felt they could do it and it seemed like they were making progress. All the other ones I went to were saying that I have to get this and that and sounded too negative to me. I have another $9000 escrow that Finance of America Reverse's holding until a year later. They did what they said they were going to do and I’m very happy with it. They were more than outstanding and I would absolutely recommend them.

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    Verified purchase
    StaffLoan Process

    Reviewed May 23, 2016

    My experience with Finance of America has been great. I looked into a reverse mortgage to have money left over to do what I needed to do to my house and not be straying, and I went with Finance of America because the loan officer helped me with the process. In fact, she was helpful with everything for me to understand how everything worked, and she let me know what went on. She explained how I wouldn't have to pay an insurance payment, which was included with my loan, and so with my taxes. She also explained how I wouldn’t lose my home and still live in it. That was very helpful. It is good for elderly people to have Finance of America available.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 22, 2016

    I wanted to do away with a house payment and have extra money to pay some bills, and two people I knew had used Finance of America Reverse and that's who they recommended. Their loan officers are great and provide really good guidance to me. The one that came and talked to me went over the process well and the guy that I dealt with over the phone explained well when I had questions. I’d highly recommend Finance of America Reverse.

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    Customer ServiceStaffLoan Process

    Reviewed May 21, 2016

    It seemed that Finance of America Reverse's terms were better than their competitors. It came down to three different ones and the closings costs were the least expensive was with Finance of America. The guidance I received from them was excellent. I want to give some credit as well to Ellen, the loan gal I was working with, who was very helpful from the initial application to the very end. She was always very good about emailing me and then following up with a phone call whenever there were any changes in the application or whenever we were waiting on something to happen. Then we had a closing cost estimate at one point and I was a bit skeptical as to whether it could really be honored in the end, but she assured me that it would be, and she delivered what she promised. I didn't expect that so I was very pleased.

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    Response from Finance of America Reverse

    Good Afternoon Steve,

    Thank you for taking the time to tell us about your experience with Finance of America Reverse. We will be sure to share your feedback with Ellen and her team. We are happy that she was able to make this process smooth all the way through. We strive for excellence, so we are also glad to hear that we compared so well with our competitors. Thank you for the opportunity to earn your business.

    -FAR

    Verified purchase
    Loan Process

    Reviewed May 20, 2016

    I’m retiring, so I needed to take care of some past bills and consolidate everything. I wanted to get all our debt taken care of so I called Finance of America Reverse and they sent me some papers. I went through all the process and their loan officer has been good. I got some of the money that I needed to help out but the problem was when I got the property appraised, it wasn’t enough. I dealt with what I needed and I had to redo it so I could get more money to take care of some more stuff. Because I didn’t really get the amount I wanted, I’m still gonna get more money but I could’ve needed it a lot sooner. But we’re not doing too bad since I got some of the money that I needed to help out.

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    Staff

    Reviewed May 20, 2016

    Charity ** is very good at her job. She has genuine people skills along with hard work and perseverance. I can't say enough how good she does her job.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Good Afternoon Gregory,

    Thank you for taking the time to us know about your experience with Charity at Finance of America Reverse. We will be passing your feedback along to her and her team. We are so glad she was able to give you stellar service.

    -FAR

    Verified purchase
    Customer ServiceLoan Process

    Reviewed May 20, 2016

    Finance of America Reverse gave me the fastest response so I went ahead with them and did the reverse mortgage. They did exactly what they said, and did it quickly. It was a pleasant, efficient and functional experience.

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    StaffLoan Process

    Reviewed May 19, 2016

    I needed some cash flow so I had a reverse through a bank and whoever they turned it over to. When I found out I could refinance, I talked with the loan officer from Finance of America Reverse who was really helpful through the bank. We went through the mediation and everything went smooth and satisfactory.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hello Homer,

    Thank you so much for your review. We are glad that everything went smoothly with your Refinance. Thank you for the opportunity to earn your business.

    -FAR

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    Customer ServiceStaff

    Reviewed May 19, 2016

    The local city of Providence has been saying they're going to foreclose on the house because there's some money owed to CitiMortgage, which is all supposed to have been taken cared of at the beginning. I have never heard that I owed CitiMortgage. The Providence people dispersed some lawyers and sent me some letters which I promptly ignored. I phoned them four times, and they rang me four times. Neither of us was ever here. But I left a long message about the fact that I had gone to this reverse mortgage and I didn’t owe them anything. I haven’t heard back since. So if anyone comes to value my house for resale, I shall boot them out… But they rang me again and named these reverse mortgage people where I got it from. I bought it from the reverse mortgage and then it’s got a different name now, which is Finance of America Reverse.

    So I rang somebody there and told him about the situation. He said, “Well, don’t worry about it.” They’ve taken care of everything. And so therefore, I didn’t worry about it. I haven’t heard from the town whether they're processing a mortgage sale or not. But all of this went on and I was thinking about getting another lease or I’ll just take it down to my lawyer and let him sort it out. But everything else was absolutely fine, and Finance of America was excellent.

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    StaffLoan Process

    Reviewed May 19, 2016

    I had a land contract on one of my properties and Quicken wouldn't do it because of that, so I went to Finance of America Reverse who told me they could get it done. The loan officer had good guidance and the way they handled the process stood out for me. It was great and I have no qualms about it.

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    StaffLoan ProcessRates

    Reviewed May 18, 2016

    My brother who passed away loaned on this house but now I couldn’t afford the monthly payments so I went to Finance of America for reverse mortgage. I was disappointed because in their TV commercials, they kept on saying that you get some money back when they pay your loan off. But they didn’t explain to me that my brother’s loan was too much that’s why I didn’t get anything. I just found out from someone whom I told them about doing the reverse mortgage. He said, “If you got a higher loan when they pay it off, you don’t get the monthly payment. But if you got a smaller loan and they pay it off, then you will get some.”

    But then they explained to me about paying my own taxes and home owner’s insurance after paying the loan off. I knew it already because I had two loans on the house and that’s when I paid it off. The only fall down the back is you have to pay that loan off too. They charged me 3% interest only because the last person who owned the house got the interest as low as he can get. I don’t think it can get any lower that 3% which isn’t too bad. The interest rates are probably going back up anyway so I did this last year.

    They say on TV that it’s not for everybody because it all depends on what your situation is. I’m on social security, so that’s all I got. A lot of people told me not to do this, but it’s working for me because I don’t have a family and I just couldn’t afford $800 a month as payment for 30 years. (My brother took out for 30 years and I only paid 10 years on it, and that’s after I gotten it.) With them, I can save $800 a month. Also, Finance of America's staff were nice and weren’t pushy. Two ladies were calling all the time telling me what’s going on. It worked out okay.

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    StaffLoan Process

    Reviewed May 18, 2016

    I handled the reverse mortgage process with Finance of America Reverse for my care patient, Vince. It was fairly enjoyable and we were very happy with it. The representative we worked with, Julie, could not have been better. Everyone really pulled together. We were able to save the house with about two to three days to spare before it went to auction. Vince has lived in this house since 1959 so it was a life-saver. They've simplified the process and they took care of Vince just in time. Moreover, we developed a relationship with them and they with us. Julie has kept in touch and checks in on occasion even though our business with them is technically finished last January. Our experience with Finance of America was probably the best one we've ever had with a corporation.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Good Afternoon Shawn,

    Thank you so much for your feedback. We will be sharing your kind words with Julie and her team. We cannot be happier that Julie was able to help Vince at such a crucial time. Our clients are our top priority, and we are glad that Julie is embodying our values as a company. Thank you again for letting us earn your business.

    -FAR

    Verified purchase
    Staff

    Reviewed May 17, 2016

    From what I read, having a reverse mortgage as part of my retirement plan sounded good so I thought I'd give it a try. Finance of America Reverse was one of the first companies that I went to and they seemed fine with me, so I just stayed with them. They walked me through everything along the way as far as what credit line to expect. They were very helpful whenever I had questions about things that they needed from me and were very easy to deal with. They made something that I didn't understand completely understandable and easy to get through. I thank Finance of America Reverse for all their help and I'd recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hello Mary,

    Thank you so much for your review. Reverse mortgages can be tricky at times, and we are very glad to hear that our loan officers were able to make it all make sense. Thank you for taking the time to let us know how we did.

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 17, 2016

    My husband had lung illness and died, so I thought I could use the extra money and so far, I've been happy with the service of Finance of America Reverse. Their loan officer was very good. Their people were all knowledgeable and courteous.

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    Customer ServiceStaffLoan Process

    Reviewed May 16, 2016

    I needed a little bit of extra money. My home was paid for, had been so for years, and I thought I might as well get a little use out of that money. I talked to several different companies. I talked to one lady from Finance of America Reverse, which was still Urban Financial then. She was helpful and friendly to me. Everything about her was professional but also excellent. I just kept talking to her until I decided to choose this company. It was an excellent experience and I have nothing bad to say about them.

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    StaffLoan Process

    Reviewed May 16, 2016

    I helped my sister in getting her reverse mortgage with Finance of America Reverse. She had gotten another company before them but I think she wanted a comparison. So we went online and looked at Finance of America Reverse and they were better - my sister supposedly could get more money with them than with the other company. She was trying to cut down on expenses since she's on a set income so she eventually went for Finance of America.

    Her loan officer, Toby, got us the answers to any questions we had and he tried his best to help every step of the way. However, my sister was disappointed since she expected to get more out of reverse mortgage than what she got. There was also a misunderstanding with some money that they held for repairs. She was told she was supposed to get it all back after she did the repairs but then she didn't. That was not explained correctly. Even though our experience with Finance of America has been good, they can improve their services in those areas.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hello Maria,

    Thank you so much for sharing your reverse mortgage experience with us. We will definitely take your feedback to our teams to help improve where we can. Thank you for the kind review, we appreciate your business.

    -FAR

    Verified purchase
    Loan Process

    Reviewed May 15, 2016

    We paid cash for the house and decided that we didn't want that equity laying around, so we went to the bank to get a line of credit but dealing with them turned out to be more trouble than it was worth. We picked up information from Finance of America and because we've never done a reverse before, we needed their guidance regarding FHA requirements. They also told us that the regulations were across-the-board. We then found out that dealing with them was easier than it was with our local lender, and also for a much smaller line of credit.

    We knew somebody else had to be doing what Finance of America was doing as well, and it really came down to the mortgage points which flowed back and forth. But in terms of what the protections were, we felt pretty confident that with Finance of America, it wasn’t gonna be any less stringent than it was with any place else. We got into some paper issues that didn’t make a lot of sense to us, but I would recommend people go through the process if they've got the opportunity.

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    Reviewed May 14, 2016

    My wife and I chose a reverse mortgage as part of my retirement plan for financial reasons. A very persistent salesman, who did a good job, made us go for Finance of America Reverse over other companies. I've only had the mortgage for a few months but I'd recommend them.

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    StaffLoan Process

    Reviewed May 14, 2016

    We're fixing up the house. We needed a loan so we looked at our options and got a reverse mortgage from Finance of America Reverse. Charity was fantastic and answered all questions. She was like a friend. The people we worked with were very awesome. The whole nine yards was a really good experience. I highly recommend it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hello Sandra,

    We appreciate you sharing your experience with us. We will pass along your kind words to Charity and her team, they will be glad to hear them. Thank you for your time, and we appreciate your business.

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 13, 2016

    Doing a reverse mortgage was the best step for me considering my income and the debt that I had on the house. Brian from Finance of America Reverse California Office is an asset to the company. He's friendly and very sincere to me. I'm aware that there's a lot of competition in this sector but he didn't seem like he's talking to people to get their business. Rosy from the New York office was incredible. She was more involved in getting the paperwork together. She went out of her way to help me figure some things out. I'm not tech savvy and I don't have a printer, and there was information that I needed to communicate to her that couldn't be done over the phone and some of it was time sensitive so we had to get stuff sent through email. The whole experience was very good. The outcome was a little bit different than what I thought it was going to be.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Good Afternoon Elizabeth,

    Thank you for taking the time to let us know how your experience was with Finance of America Reverse. We will definitely be passing your feedback along to Brian and his team. They will be so excited to hear that they were able to make the reverse mortgage a good experience for you. Thank you for the opportunity to earn your business.

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 13, 2016

    The loan officer from Finance of America was very helpful, personable, and cooperative. She went out of her way to take care of us. Everything went very smoothly, and there was no problem getting approved, which was good. Very rewarding experience.

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    Staff

    Reviewed May 12, 2016

    Everything went smooth. The rep from Finance of America was great. The reverse mortgage works good and is real convenient for me. It fits my needs.

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    Loan Process

    Reviewed May 12, 2016

    I had a reverse mortgage with Finance of America Reverse which I renewed because the value of my home was almost doubled and way over what the federal limit is. Their loan officer was fine and went out of his way, but there are a couple of problems with Finance of America. The company they use to distribute their funds cannot get the automatic payments on the first of the month - it comes on the second, third or fourth. At first, Finance of America Reverse said it was the fault of my bank, but I have a small community bank with which my pension comes in on the first of the month, so that's not the problem.

    Due to this, I have to take money out of my savings account each month to make sure when the automatic payments are removed from my account, the money is in there. Then when their money comes in, I have to switch money into my savings account which is really a pain. Parts of this were mixed up and not done well and I understand that things happen as I worked in the public sector for 24 years as an elected official, but this ongoing problem with the distribution is a terrible one that shouldn't be happening. There are times I wish I had never started the process and had just left my first mortgage alone as it was.

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    Customer ServiceStaffLoan Process

    Reviewed May 12, 2016

    We wanted to get our finances in better order. Finance of America Reverse called me and was right on the ball. The rep was very helpful and called back when I had questions or when I left a message. It was a good experience. Very efficient.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hello Donna,

    Thank you for giving us the opportunity to earn your business. We are very happy to hear your experience with Finance of America Reverse was a positive one. Thank you for your kind review!

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 11, 2016

    Finance of America Reverse and I worked out a deal and I haven’t been unsatisfied yet. The loan officer did a good job. He also told me that any time I had any questions, I could just call. I do have one question about getting a paper from them that shows that I have a $350 which I don’t know what it is. I don’t owe them anything. It just shows up as some kind of outstanding bill. Reverse mortgage is a little tricky. But it worked out for me and that’s why I went with them. My overall experience is pretty good.

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    Customer ServiceStaff

    Reviewed May 11, 2016

    Finance of America Reverse contacted me. I understood what they were telling me and I was happy with the information. They were very prompt in getting back to me when I call them and I enjoyed talking to them. The loan officer was very informative, constantly gave me information and was able to answer any questions I had.

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    Customer Service

    Reviewed May 10, 2016

    I gave Finance of America Reverse a call and they're very nice and made sure we had all the information that we should have. The outfit that monitors the reverse mortgage is up on things. They send me the statements every month and a reminder about our property taxes. We feel a lot more comfortable with the monetary capabilities that we have now that we didn't have before. We have a little more leeway and we can do a few more things without worrying about what they cost.

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    Reviewed May 10, 2016

    We were pleased with the way our reverse mortgage went with Finance of America Reverse. However, we didn't feel there was enough follow-up.

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    Customer ServiceStaffLoan Process

    Reviewed May 9, 2016

    I thought it was a good opportunity to have a reverse mortgage as a backup plan. Chad from Finance of America was a very personable and helpful young fellow. He worked with me the whole time and kept in contact. My sister was involved in the process and he called her several times and talked with her. Everything went very smooth. I got my counseling and he understood that I didn’t need the money. I just wanted to have it in case. The whole experience was very professional and well put together as far as the way everything went. It was a big decision so I took longer to make my final decision than some people did. Finance of America was not pushy.

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    Response from Finance of America Reverse

    Good Afternoon Thomas,

    Thank you so much for letting us know how your experience was with Chad at Finance of America Reverse. Our clients are our main focus, so we are thrilled to hear that Chad made sure everyone involved was informed and comfortable. Thank you again for your kind review.

    -FAR

    Verified purchase

    Reviewed May 9, 2016

    I know someone whose reverse mortgage was processed by Finance of America Reverse to get her house done. However, I'm not satisfied when I did it. I only got half of the money. It was confusing.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Mertice,

    Thank you for placing a review. These loans can be confusing. We'd like to contact you to answer any of your questions.

    Thanks,

    -FAR

    Resolved outside ConsumerAffairs
    Verified purchase
    StaffLoan Process

    Reviewed May 8, 2016

    I wanted to be out of debt and free, then the guy that I talked to from Finance of America Reverse seemed to be friendly and I liked it. He was very knowledgeable and courteous. Going with them was a very good experience.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed May 8, 2016

    I chose Finance of America after talking with several other places, and I like the communication that was established with the originator. He was absolutely perfect at his job and the communication was excellent throughout the process of the origination. He wasn’t pushy. A lot of these independent people from very small companies are pushing to make the sale. Having been in mortgage origination for quite some time, I knew exactly what they were trying to do.

    When the process began, we submitted the proper documents for the first and second mortgage. So Reverse had all the information that was needed. Prior to their closing department, I screwed up royally which we were not aware of until the very end of this process because who reads a 75 plus pages of data you're given? I made the assumption that everything was in order and that was my mistake. After the mortgage was closed, 30 days after that we received a letter from the bank that our mortgage was past due.

    When Reverse was contacted, I was told, "Sorry, too late. The deal has been closed." I understand that there was nothing that they could legally do. But I was not pleased with the matter in which it was handled. The saving grace is financially, we weren’t in any bind and it was one of these situations where we needed this to bail ourselves out from something. But nonetheless, we will have continued to pay interest for 12 months until we can get the rest of the money out of the reverse mortgage. If anybody asks me about Reverse, I would be compelled to tell them my story and it certainly wouldn’t warm anybody’s hearts. I'd tell them that they need to do their own research and find out what works for them. I wasn’t thrilled with the ultimate end result.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Philip,

    Thanks for placing a review. We would like a chance to review your situation and get a better understanding of what happened.

    Thanks,

    -FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed May 8, 2016

    Finance of America Reverse came up with the best rate first, so we went with them. The loan officers provided us with the standard guidance -- they told us what we had to fill out and who we had to contact. Overall, it was taxing and took a long time, but the problem was more with HUD than it was with them.

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    StaffLoan Process

    Reviewed May 7, 2016

    I'm a widow and my husband didn't leave me anything. I want to quit work at some point and having a mortgage still doesn't make it happen, and I do not want to move out of the house so that was the crux of it all in getting a reverse mortgage. Finance of America was very informative and honest. I felt good and comfortable with the gentleman who helped me. I felt like he was really paying attention to my needs and we had many conversations during the 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.fareverse.com