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Finance of America Reverse Reviews

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About Finance of America Reverse

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

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

Finance of America Reverse Reviews

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    Page 16 Reviews 2025 - 2175
    Verified purchase
    Customer ServiceStaff

    Reviewed Nov. 16, 2017

    I wanted to keep the house that I’m in and my children didn’t want to move it when I was done. So, the next thing for me to do was to help my financial situation out by using a reverse mortgage. The lady from Finance of America Reverse that I was speaking to was fantastic and unbelievable. She’s a doll. When we got done, we spent a rosy because she worked her tail off on this. Right now, they’re holding money out to pay the taxes real and I’ve been waiting to make sure they get paid or don’t get paid then I would call and talk to them. But I was extremely happy with Finance of America. If I decide that I want to pull the house back into my name, all I got to do is pay the loan back and the interest. I would use them over anybody else even if it was more expensive for me to use them.

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    Verified purchase
    Customer ServiceStaff

    Reviewed Nov. 15, 2017

    Marla from Finance of America Reverse was wonderful. She claimed she put in the notes, "Do not call or send anything to mom's address." But there're so many fools in the world that just don't care. And that's the way things are done nowadays. They kept calling and sending things to my mother. When the first check was finally sent, I called. I said, "Marla, I have not received the check." She looked and told me that they took it to the wrong address. It took us three days to find it. It was on the back of a refrigerator, behind an orange juice and a Federal Express envelope. My mom has dementia. They also sent to my mother some very important paperwork that I needed back and we found it in the recycling bin. I was so aggravated.

    I liked Marla and anybody I'd talk to. But there were six different signings I had to do. And the last one, they went to my mom's house to ask, and she didn't know what was going on. Why couldn't they get all their crap together in one shot like they’re supposed to? They kept coming over with another piece of paper. I'm not happy about it. But I'm over it. I would never use them again.

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    Verified purchase
    StaffLoan Process

    Reviewed Nov. 15, 2017

    I’ve talked to a Finance of America Reverse rep named Jim and another gentleman from another company. We were back and forth and I was trying to see who could give me the best deal. I got passed on from one rep to another in the other company, but with Finance of America, Jim stayed with me throughout the whole process. It was a more personal experience and I liked the personability. Also, we have a relative who is in real estate and we counseled with him a little bit and he agreed with the direction we were going. Jim said the same things to us that our relative did. I’ve already recommended him them to several different ones and if I hear somebody in a little problem, I’d tell them to call Finance of America.

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    Finance of America Reverse
    Response from Finance of America Reverse
    Martha,
    We are pleased to hear that you chose to work with Finance of America Reverse and that everything went as smoothly as possible during the process.
    We work hard to find the best people to provide a great experience for our customers. Your feedback in valuable to us.
    Thank you,

    FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Nov. 14, 2017

    I previously had reverse financing through Celink and they did a good job. When we went to do a second one, I called them and they said they would put me in touch with a company they felt would do it right. The rep from Finance of America was on top of things from beginning to end. She always called to make sure I received the updates and if there were new information or changes, she’d notify me right away. I’m pleased that in the process of going through the reverse mortgage, some funds that were overpaid in the process were returned to me. They were the first to respond, get right back to me, let me know that there was money coming back afterwards and there was no hesitation. In fact, I would receive notifications and not even know that there was some extra money coming back to me. I’m happy with Finance of America and if I had the option to do it one more time, I would be dealing with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    James,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that we were on top of things from beginning to end and making sure that you had updates at every step in between. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Nov. 14, 2017

    I wanted to supplement my income so I got a reverse mortgage. I called Finance of America Reverse and I thought it would be a good deal. They explained everything very well and I'm very satisfied so far. If I have any questions they answer them. One of them even called when we were having a storm here. They thought it was going to be a bad hurricane and she wanted to know if I was all right. They're just very nice people and very helpful.

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    Finance of America Reverse
    Response from Finance of America Reverse
    Anne,
    We work hard to find the best people to provide a great experience for our customers. We enjoyed working with you and appreciate your business.
    Thank you,

    FAR

    Verified purchase
    StaffLoan Process

    Reviewed Nov. 14, 2017

    I was over my head and needed to clear up some credit cards. My husband had passed away recently and I also needed to clear up some medical bills. I spoke with Linda at Finance of America Reverse and she was very encouraging and made it where I understood what I was doing. She kept in touch throughout the process, and she didn't ignore me. It just clicked altogether. I was able to take care of the bills and still have a little leftover to take me through the winter.

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    Verified purchase
    Customer ServiceStaff

    Reviewed Nov. 13, 2017

    She (Kyeshia) was able to answer all my questions when I called. If she did not know she would research and get back to me and believe me I did have them. She put me at ease with her knowledge. I'm grateful to have worked with her. I recommend her highly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Richard,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that Kyeshia was able to answer all of your questions and guide you through the reverse mortgage process. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Nov. 13, 2017

    Every time I buy a rental property, I have to apply for another loan. With the reverse mortgage, it is easier for me to use that as a line of credit, go back and pay it back, then borrow and pay it back. In a way it's also for retirement. I want to pay it off and then I have income from rental properties. I’ve got 12 rental properties and I paid off the mortgages on all of them. But now, I’ve got an extra 100 and whatever they gave me, I’ve got that. So, in case there’s a foreclosure, I could hop on it and pay cash right off the bat without having to go through the bank. The bank I have, every time I ask for a loan, it took me six weeks until two months to get the financing, and when I'm doing with foreclosures, I can’t do that. Finance of America Reverse has the lower closing cost. The best offer I had was $3,000 more than what Finance of America Reverse had.

    In the last three years, we ended up showing a big loss because of all the rental properties that we bought, and we’re able to depreciate them. We hadn’t filed tax returns back to 2012 because we had almost $1,000,000 worth of tax was carried forward that we’re trying to get through the IRS. The IRS never signed off on them until this year. For 2012 I got a $40,000 tax refund, and for 2013 is $20,000. We’re filing tax returns but we’re just waiting for the refunds, but they’re all amended returns.

    The guy that I worked with at Finance of America Reverse had an MBA degree so he could cipher through the paperwork, and figured out what I was doing, from the standpoint that he understood tax returns. A lot of these other people would take the paperwork, hand it to an underwriter, and then they call back for more information. I'll say, “Look I don’t have that” and they'll say, “When are you going to have it?” I'll say, “We’ve been dealing with these for five years. How in the hell do I know?”

    I had a lot issues with some properties that they wouldn’t accept. It was a lot of paperwork, but the reverse loan officer was knowledgeable enough or has done enough of it where he’s like, “Write a letter and do this.” That’s really what because that halfway through the process, I got so fed up with them because every time like it says submit something, “So, why am I going to do this? It wasn’t his fault. It was more of the banking regulations since after the banks are too big to fail bill and all of that that went through. He said the banks are required to get that information now. So, it’s more of a hassle on that side but he was very knowledgeable and he was able to help me. The overall process for getting loans is frustrating and getting harder, but Finance of America Reverse helped me.

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    Verified purchase
    Loan ProcessRates

    Reviewed Nov. 13, 2017

    The Finance of America's loan officer was very good but I do have objection over the whole process once it was completed. I've gotten two statements showing what I owed in the interest, but there's no return address or return address envelope in case if I wanted to pay it. So, I've been letting it slide a little, but I have to contact them and tell them I want that. I went with them since my wife is sick and in the event that we need the money for to place her in a home or in home care, I would have it available through reverse mortgage. Overall I'm satisfied with them.

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    Verified purchase
    Staff

    Reviewed Nov. 12, 2017

    Everybody at Finance of America Reverse was very professional and very knowledgeable. We first reached out to them in May and they were able to finish it up in August. It was a little long and there were some loopholes that were not quite right. One of the issues we had was the deeded access to my property. We had to go and get all the paperwork for that completed. I had Manors Insurance which was a big issue and we're trying to find somebody that would do a policy. However, because we live in a hurricane prone area, nobody around here would do an insurance policy that didn't require wind and hail. I don’t feel that we got all that we should have gotten or should have been entitled to because if my house was worth $240,000 and they're only giving me $108,000 then there's a little issue with that even though they set aside money for insurance and property taxes. Despite that, I would still recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Wanda,

    Thank you for leaving a review with Consumer Affairs. We're happy to hear that everyone you dealt with at Finance of America Reverse was very professional and knowledgeable. Reverse mortgages have many regulations in place to make sure that all parties (including the borrower) are protected. If you have any questions, don't hesitate to contact a Finance of America Representative. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Nov. 12, 2017

    I asked a question online, “What are the five top reverse mortgage companies in the United States?” And Finance of America was one of the five. After the follow-ups I got from all five of them, they were the one I elected. The loan officer Mark had an excellent attitude and the guidance I received was perfect. He did a great job.

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    Verified purchase
    Staff

    Reviewed Nov. 12, 2017

    The representative from Finance of America that I spoke to was good to work with. He was personable and more straight to the point. I talked to two other companies and they were playing some and a little less than straight about it. The rep from Finance of America gave me a guesstimate or proposal as how things would be play out with the appraised value of my house. And when the appraised value came in a little lower than I anticipated they worked with me on that. So I was pleased. I thought the rep was very professional.

    They went by me to see if I was an appropriate candidate for the vehicle. And then after that he was telling me, "You're going to have to go to counseling." So I think between the counseling and reverse I felt like I knew what I was getting involved with. And I weighed to know the trade-off. And I thought it made sense for me and I moved forward with it. There's some credits they can give back to me. But as to the exact amount it's a little bit confusing. It's just not as clear like for instance for my situation it allows 54.9% of the appraised value. So with that they're able to wiggle a room with this credit they can give back. And the other two companies did it the same way and I thought it was a little misleading. But if they could be a little more clear on that, that would be beneficial.

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    Finance of America Reverse
    Response from Finance of America Reverse
    Michael,
    We are happy to hear your loan officer was able to help you understand all of the details of a reverse mortgage. We appreciate your choice to work with Finance of America Reverse.
    Thank you,

    FAR

    Verified purchase
    StaffLoan Process

    Reviewed Nov. 11, 2017

    The reverse mortgage is for a lot of things I have to do, like upgrading my house. The people of Finance of America Reverse are so friendly and they help when I needed help. The loan officer did all the legwork and answered all our questions, and everything was smooth. The experience was easy. It seemed like everything I asked, they quoted me and everything’s in writing.

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    Verified purchase
    StaffLoan Process

    Reviewed Nov. 11, 2017

    I was going to get a mortgage and I had spoken to several people who were pushy but the gentleman from Finance of America Reverse wasn't. I liked dealing with him and I ended up going with him. He was laid-back, listened to my concerns and worked with me. My experience with Finance of America was easy and fast.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Karen,

    Thank you for leaving a review with Consumer Affairs. We're happy to know that your loan officer listened to your unique situation and was able to guide you through the process. It's great to hear that your experience was easy and fast.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Nov. 10, 2017

    I didn't have enough equity to get good cash back but I did want to eliminate my house payment as my overall retirement plan. Oddly enough, I was doing an inspection job and I had to inspect one of the offices of Finance of America Reverse in Chesterfield County. I talked to Carrie a little bit and she seemed like a good person to deal with and the company seemed to have a good wrap. She's very professional and everything pulled through pretty smoothly. Incidentally, I was in the market for a reverse mortgage. I had a few bumps on the road and we dealt with them pretty well so the experience was positive overall.

    The guidance provided was good. I started the process with them a few months ago. The paperwork took a little longer than I expected because of some complications with a little bit of damage to my house. But from what I hear, others took a lot less time than it would take. I heard horror stories about it taking months for other reverse mortgage companies to pull things through. If someone was wanting a reverse mortgage, I would say, "Go ahead and check Finance of America and do your background checks, whatever you need to do." Overall my experience was positive.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Richard,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that Carrie was able to provide good guidance and help overcome any bumps during the process. If you ever have any questions regarding your reverse mortgage, don't hesitate to contact your loan officer or a Finance of America Reverse representative.

    - FAR

    Verified purchase
    Staff

    Reviewed Nov. 10, 2017

    My retirement fund is running out so I needed more money. My home has been paid for and there’s nobody that needs it, so I’m just going to use it through a reverse mortgage. I talked to Finance of America Reverse and they seemed all right to me and so, we went with it. Their reps were very informative and handled my application really well. They took care of all my questions, and they were there when I needed them. They did a good job and I’m pleased with them.

    Thanks for your vote!
    Verified purchase
    Staff

    Reviewed Nov. 10, 2017

    I needed the funds to make sure that I was going to be okay for the rest of my life. I was looking at AAG and asked them for information and Finance of America was one of the ones that were highly rated. The loan officer was very cordial and didn't bug me to death, which was nice as I just hate that when I'm on the verge of making a decision, somebody's constantly asking for me. And so, I felt very comfortable with them. They were very cordial, considerate and clear about the process. They knew what I needed and wanted. They sent me any information I might need and answered my questions. I'm a widow so I need as much input as they can give me and they treated me very well. I would recommend Finance of America Reverse to anybody.

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    Finance of America Reverse
    Response from Finance of America Reverse
    Joanne,
    We appreciate the opportunity to help guide you through the process. We work hard to find the best people to provide a great experience for our customers. We are happy to hear your loan officer was able to help you understand all of the details of a reverse mortgage. Thank you for your business.

    FAR

    Verified purchase
    Customer ServiceStaffRates

    Reviewed Nov. 9, 2017

    Finance of America Reverse has a good cost and interest rate. So, I decided to have my reverse mortgage with them, and they provided me with good guidance. They’re good and are fully knowledgeable of what was happening. Their representatives are always courteous, and they always get back to me right away, which is a good thing. Overall, I’m happy with them.

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    Verified purchase
    StaffLoan Process

    Reviewed Nov. 9, 2017

    The Finance of America Reverse loan officer wasn't aggressive and she was very very knowledgeable and a kind person. The guidance I received was good, but there were a couple of things that I didn't like. The appraisal came out almost $20,000 lower than what was expected in this neighborhood. At the same time, they charged me for the reinspection. Those two guys I didn't care much for. There were some painting to be done in the windows in the back. I painted those, but they charged me and took out $130 from my account and they told me that was standard procedure.

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    Verified purchase
    Customer ServiceStaff

    Reviewed Nov. 8, 2017

    I was left alone. My husband died, and I knew the property would have expenses, and it needed a lot of things to be fixed in that. And I didn't have any money at all, only my social security checks and also I don't have a retirement plan. When Finance of America called me, I thought it was a good idea. The people who talked to me were very nice and understanding. They helped me a lot. I'm really happy working with them.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Nov. 8, 2017

    My niece wanted me to get a reverse mortgage because she was on the mortgage too and she wanted to buy out. I got a reverse mortgage from Finance of America Reverse since, first of all, they were nearby and the loan officer that I was dealing with was very good. Whenever we called, she answered. She also had to communicate with my niece who was in Maryland and my niece was pleased that she always got back with her with all the information that she needed. So far, our experience with Finance of America Reverse has been good. But I was disappointed in the amount of money that they were going to finance me for the property in the mortgage. I told the loan officer I was surprised that the city had a higher amount, $394,000, and it was $100,000 less from them. I had gone up and argued with the city about that, but I didn’t know what else to do about it.

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    Verified purchase
    StaffLoan Process

    Reviewed Nov. 7, 2017

    I am so glad that Jamie ** was my reverse mortgage specialist. Jamie took the time to thoroughly explain the process and kept me in the loop every step of the way. She made this transaction smooth and simple and I would highly recommend Jamie to anyone who is looking for a reverse mortgage option.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Natalie,

    Thank you for taking the time to leave a review with Consumer Affairs. It's great to hear that Jamie was able to thoroughly explain the process and keep you up to date every step of the way. We appreciate the opportunity to work with you and your recommendation of Jamie's services.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Nov. 6, 2017

    I compared a couple of mortgage companies and the last guy that I spoke to and met with, convinced me that Finance of America Reverse would be the way to go. They were very accommodating to me. There were certain things that I had to get done at my house before I qualify and they gave me an advance to fix what had to be done before I could qualify for the FHA. The rep called me a couple days a week and gave me updates. He reassured me the loan would be going through and he was very knowledgeable. He also explained what was going to happen with the forms and it just came exactly the way he said would happen. If anybody had a reverse mortgage in mind to do, Finance of America would be the company to go with.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Richard,

    Thank you for leaving a review with Consumer Affairs. We are so happy that you chose to work with Finance of America Reverse. It sounds like the guidance you received was great and your representative was keeping you informed at every step of the process. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Loan Process

    Reviewed Nov. 5, 2017

    Finance of America Reverse seemed to do the job. So, I just stuck with them. Dealing with their loan officer was good and everything's been finalized. It was a pretty drawn out process, but I suppose that's how it is with everybody. It's only has been finalized for about four months and so far, so good. I had no problem with them.

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    Verified purchase
    Loan Process

    Reviewed Nov. 3, 2017

    I asked the people I had a loan with if they could recommend somebody who knew the business and they recommended Finance of America Reverse because they said the company would know all the ins and outs of my loan. I phoned them, everything went great and they paid off the loan. It’s just that this one took a little bit longer than I thought and I seemed to have gotten more paperwork than before and we did all the additional paperwork. But in the end, the loan keeps sending us stuff in the mail although I thought it was all over with. They paid off the loan we had already then they gave us a new loan which was actually the old loan plus the loan. It was confusing.

    The last time we did a reverse mortgage, I was getting a thing through the mail where they paid off the loan. They then redid the loan and it was just fine. Also, I keep getting checks in the mail for payment, $4.50. But we’re all through the reverse mortgage now and we got the money in the banks. I just wanted to make sure we had the money on hand in case we may need it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Trevor,

    Thank you for taking the time to leave a review with Consumer Affairs. We appreciate your choice to work with Finance of America Reverse. We apologize for the delay and the added paper work. Reverse mortgages have many regulations in place to make sure that all parties (including the borrower) are protected. If you ever have any questions about your reverse mortgage, don't hesitate to contact your loan officer or a Finance of America Reverse representative.

    - FAR

    Verified purchase
    Staff

    Reviewed Nov. 1, 2017

    I had a reverse mortgage before so I thought that we would try it again. Finance of America gave me the best deal and they were willing to work with me. They treated me well. I'm a double amputee and I couldn't get into the office so they came to my house. The loan officer was professional and was the type of person that someone could talk to. The first reverse mortgage I had took over a month to get it taken care of. But with Finance of America, it took about two weeks. It was really spectacular. These guys were professional about it and made me feel comfortable when working with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ernest,

    Thank you for leaving a review with Consumer Affairs. We're so happy that decided to work with Finance of America Reverse and that your interactions with our team were professional and made you feel comfortable working with us.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Oct. 29, 2017

    Companies bombarded me with phone calls and emails but the rep from Finance of America Reverse told me they were going to be with me from the beginning to the end and that swayed me to go with them. My guy said anytime I call him, he would call me right back. He explained any questions I had and was accurate, knew what he was talking about and I really liked him. We thought about doing the reverse before but it was a big decision to make. We had to consider what to do if one of us were to pass and it's still at the back of my mind because it would be hard for one person to make it financially. But we’re glad we did it although it was eerie at first. I was working part-time to cleaning homes, but I just couldn't do it anymore because of my health.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Rita,

    Thank you for leaving a review with Consumer Affairs. We appreciate your choice to work with Finance of America Reverse. It is great that you and your loan officer had such a great rapport with your loan officer and that he was able to answer all of your questions. If you ever have any questions about your reverse mortgage, don't hesitate to contact your loan officer or a Finance of America Reverse representative.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 28, 2017

    We give Jamie ** highest marks for her work with us. There were some challenges in obtaining our reverse mortgage, and Jamie guided us through all of them. She's a pro, and she's a delight to work with. We recommend her highly to anyone.

    Thanks for your vote!
    Finance of America Reverse
    Response from Finance of America Reverse

    Larry,

    Thank you for leaving a review on Consumer Affairs. It's great that Jamie was able to guide you professionally through a reverse mortgage. We appreciate your recommendation of Jamie and appreciate your business.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 28, 2017

    I was going to do a reverse mortgage about four years ago and I almost did it, but then I changed my mind. Now, I made up my mind and I did it this time with Finance of America Reverse. They sounded okay to me and have no problems with them. The rep I've spoken with was good. They explained everything, answered all my questions and made sure I understood. I talked to a woman who came over and then they evaluated my property. The process took just a few weeks and everything went good.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Joanne,

    Thank you for leaving a review with Consumer Affairs. We are so happy that you chose to work with a Finance of America Reverse team member to guide you through your reverse mortgage. It's great that we were able to answer all of your questions and accommodate your scheduled.

    - FAR

    Customer ServiceStaffLoan Process

    Reviewed Oct. 27, 2017

    An absolutely friendly and highly efficient experience. Reason for review: Without the persistence of Toby ** and his accurate information as well as the fair offer, I would still be milling around. Due to family emergencies I had to put him off for a period of time, but he called me after the requested time out from the procedure to get me back on track. Bottom Line: totally professional, fair, accurate, and especially sympathetic to my rather advanced age (80) and major hearing loss due to Tank guns from an Army Career.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for leaving a review with Consumer Affairs. It is so great to hear that our Reverse Mortgage Specialist made such a large positive impact on your experience. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 27, 2017

    I am 84 and I'm retired. I have too many payments especially my mortgage of $800 a month. That's just eats too much of my cash up. Now, I don't have that problem anymore. I got a reverse mortgage from Finance of America Reverse. Interacting with my loan officer was all fun and games. We’re just laughing to it. I went to their school where you get to listen and see where everything was going on and it went fine.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Verne,

    Thank you for leaving a review with Consumer Affairs. We are so happy that we were able to help you. It sounds like you and your loan officer became close friends during the process. If you ever have any questions, don't hesitate to contact a Finance of America Reverse representative.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 26, 2017

    I had done a reverse mortgage on another house with Finance of America Reverse. I called them up to see if they wanted to do another one for me. I wanted to have flexibility so I went with a reverse mortgage. The loan officer followed up and was phenomenal. Everything went as advertised and I was very pleased.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Marshall,

    Thank you for leaving a review with Consumer Affairs. We're so happy that we were able to serve you again. It's great to hear that everything went as advertised and you are very pleased.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 25, 2017

    Our experience with Nick ** in acquiring our reverse mortgage line of credit was a smooth process. Nick was fully engaged from the beginning consultation by phone until the actual realization of the funding and direct deposit of immediate monies into our account. Pleasant conversations on a regular basis, interested in our life experiences, helpful with answers to our questions. Nick is an asset to Finance of America Reverse.

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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 are so happy to hear that Nick was fully engaged with you through the whole process from start to finish. We appreciate your kind words about Nick and the service he provided.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 21, 2017

    I asked what the top five reverse mortgage companies were on the internet and Finance of America Reverse came up. I made the call and it sounded good so we decided to go with them. Robert, our loan officer did an excellent job in helping us. He was very personable, very patient and explained everything to us. It was an excellent service and we're really happy with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Virginia,

    Thank you for leaving a review with Consumer Affairs. We're so happy that Robert did an excellent job helping you and explaining all aspects to you. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 20, 2017

    I looked up reverse mortgages on the internet and got about three calls and one of them was Finance of America Reverse. They were very nice and gave me an optimistic outlook of what I could receive. I also liked what they said they could give me. The rep took my interest as a primary and was very friendly, helpful and professional. It only took about two and a half months to finish all the paperwork. I’ve been happy with my experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Thomas,

    We appreciate you leaving a review with Consumer Affairs. It sounds like everything went very smoothly and effectively with your loan. If you ever have any questions about your reverse mortgage, don't hesitate to reach out to your loan officer or a Finance of America Reverse representative.

    - FAR

    Verified purchase
    Loan Process

    Reviewed Oct. 19, 2017

    I have no complaints about Finance of America Reverse. They were very good to work with and it went very quickly. We had an excellent experience with them and I would refer them.

    Thanks for your vote!
    Finance of America Reverse
    Response from Finance of America Reverse

    Marlene,

    Thank you for leaving a review with Consumer Affairs. We're happy to hear that you thought we did a very good job and moved efficiently through the process. Your recommendation is appreciated.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 19, 2017

    I liked the idea of reverse mortgage so I was looking at several ways to do it. I did some research on it and then chose to do it with Finance of America. I got very good guidance from them. They sent us a lot of material and then we spent about an hour or so with the rep going over it all with me on the phone. It was like going to school again, you had to take a test. Everything seems to be going okay. If it doesn’t, we’ll sure let them know. In fact, I’d recommend them. They did everything they said they were going to do on time, efficiently. If we had a question, we were able to call and get an answer right away. Conversed over email and phone. We might even have had some texts. It was a very good experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Leon,

    Thank you for leaving a review with Consumer Affairs. We're so happy that you chose to work with Finance of America Reverse and that your loan officer was able to answer all of your questions about the process and follow through on everything on time. We appreciate the opportunity to work with you and your recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 18, 2017

    I've had other companies that I was supposed to do reverse mortgage with and for one hokey-pokey reason or another they couldn't do the deal. Then it got delayed and delayed and I finally got disgusted and hung up the phone on them. But Finance of America Reverse got the job done. My loan officer had some personal problems for a while so I got forwarded to her manager who was useless. But she handled the deal when she got back. And she was nice and personable.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Horace,

    Thank you for leaving a review with Consumer Affairs. We are so happy that you enjoyed working with your loan officer. We also apologize for any inconvenience for you while she was out of the office. If you ever have any questions, don't hesitate to contact your loan officer or a Finance of America Reverse representative.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 17, 2017

    I can't survive on my social security, and since I've had a bad experience with AAG, I went with Finance of America Reverse where everyone was always very nice. My actual assigned agent went on vacation right before my closing, so his manager took over. They communicated via phone and email well. They listened to me, helped me and they were able to get me approved when the other company misled me about the approval process. They did what they said they would do and were very nice about it. Plus, they were very much on top of keeping me informed through the process.

    They were so much better than AAG and I wish I went to FAR first. AAG didn't send me my appraisal timely. Because I needed it for FAR, I got AAG to send my appraisal to me so I didn't have to pay for it again. After I sent the appraisal to FAR, they sent it back to me with a message saying that they are required by law to provide it to me within so many days. Even after I gave it to them, they still provided it according to what they were supposed to do. If I ever see someone talking about getting a reverse mortgage, I would definitely let them know that I had a pleasant, productive, and wonderful experience with FAR.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barbara,

    Thank you for leaving a review with Consumer Affairs and sharing your story. We are so pleased to hear that we were able to keep you informed through the process. Thank you for your kind words regarding our service.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 17, 2017

    I went with a reverse mortgage knowing that I can live here for the next 20 years without a house payment because I'm just living on my Social Security. And then in 2015, surprisingly, I had a heart attack and had bypass surgery right after my birthday. I had a Kaiser insurance, which had a $4900 out of pocket per year. That really threw me because all of a sudden I couldn't work and I had all this, just for the medical stuff. It was overwhelming. I was looking for refinancing and doing a lot of online research when Finance of America reached out to me.

    The gal that helped me was exceptional. She kept me well-informed and explained about each little step in the process. I was very impressed with her professionalism and warmth. We became buddies. The guidance I got was excellent, too. She made it as easy as can be, considering all the legalities and all of the details of going through a reverse mortgage. Then I had my counseling thing with a lady in Utah. That's a requirement of reverse mortgage. It seemed like it took forever because those kind of things kind of do, when you have a lot of legal paperwork back and forth. I'm in Colorado, she's in California. Otherwise, it went well and very quickly. It was efficient and I've received knowledgeable advice. People should definitely check on reverse mortgages. I wouldn't have done it if I were 10 years younger but being 72 and knowing that I can live here with monthly payment free until I'm 92, I don't think I want to live past that.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Edwina,

    thank you for leaving a review with Consumer Affairs. We're so happy to hear that your loan officer was able to keep you well-informed and explained every step of the process. We appreciate you taking the time to share your reverse mortgage experience and the opportunity to serve you.

    - FAR

    Verified purchase
    Loan Process

    Reviewed Oct. 16, 2017

    I inherited my brother’s house and it needed mega fixing up. A reverse mortgage was the only way I could do it without waiting until December to get it done. I went online to check about reverse mortgages and Finance of America contacted me. I felt like I got the truth up front and nothing was sugarcoated. The guidance they provided helped make things easier, and I could understand what they were telling me. The process was easy and at times, it was difficult because there were things I needed to send to them and I wouldn’t be home to go online and send that. Plus, there’s too much duplicate paperwork. However, they did a good job of keeping me informed of what was happening step by step and they treated me well. Everything went painlessly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Doris,

    Thank you for leaving a review with Consumer Affairs. We appreciate the opportunity to guide you through the reverse mortgage process. We understand there is a lot of information and we're so happy to hear that your loan officer did a good job keeping you informed step by step and treated you well. If you ever have any questions regarding your reverse mortgage, don't hesitate to contact us.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 16, 2017

    I talked to them way back when they were still Urban Finance. And when I decided to reactivate it, I found out that they have changed their name to Finance of America Reverse. The numbers made sense, so I decided to get a reverse mortgage, and I was very pleased with my loan officer. She was very informative, and she answered all of my questions. She was also prompt and she stayed after me. She wasn’t pushy. Instead, she just nudged me along, so that was a good thing. I am happy and satisfied with Finance of America, and I’ve told my relatives about them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Susie,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that you remembered us. It is great that you were very pleased with your loan officer and how she was able to answer all of your questions promptly. We appreciate the opportunity to serve you and your recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 15, 2017

    I had too much debt since my husband died. I was paying my bills but I was getting behind and I didn't want that. I read on Facebook that reverse mortgage was something to look into and it was very appealing to me because of the fact that I can pay it back if I want to, but if I don’t want to I don’t have to. My son will. My intention was to immediately start paying on it as soon as the rest of my debt is taken care of but the option’s there and that meant a lot to me. I've also gotten some insurance so that will be able to help my son with paying it back hopefully.

    I went ahead and sent for literature on reverse mortgages. I looked at two other companies but they kept telling me they would contact me. I waited forever and they didn’t. Besides, Finance of America happened to be the first one that sent to me and I very much liked the representative so I went ahead with them. He had the same last name with some relatives of mine and that made me feel comfortable. He was also always available, very pleasant and accommodating. If I didn’t understand something he was very patient and explained it very well. He seemed to know what he was talking about. But after I signed all the papers it was a little different. He became lackadaisical but once he started to fail me his boss, Mike, contacted me.

    Mike was absolutely amazing. When I was having problems he was there for me all the time. If I called him right now he would sit down and talk to me for an hour if I needed to. I wish he would've been my guy through the whole thing because he was just so pleasant and so understanding. I had some major experiences because when they did the appraisal they found mold in my basement.

    I was totally caught off guard. I'm in a wheelchair so I haven't even been in my basement in 15 years. They told me it was going to be $4,500 and the loan wouldn’t push through until that was taken care of so then I was having to take a loan to get my loan and I was literally beyond myself. I was crying in tears and Mike got on the phone with me, calmed me down and said they would see if there was anything they could do. They even offered to get someone for the mold but I knew people in the area who knew who to call that was close by. The company that came out was AdvantaClean out of Michigan City and they were the most amazing people. They told me they would do it for nothing. He said he didn’t want me sick and that he wanted to help me. I can't recommend them enough.

    Afterwards, I also had a burglary and my garage door was broken. It was going to be $500 to get it fixed and I didn’t have the money. At first the rep said they would set that money aside and when I get the loan they would send the check directly to whoever fixed it. But then they said no because of safety issues. I had to have it fixed before they would give me the loan. So first I had to get the mold cleaned before I get the loan and now I have to get $500 for the garage before I can get the loan.

    The rep told me to contact the contractor and ask if there was any way they could do it. He told me that I could give them a letter stating that there will be a check cut for them as soon as the mortgage comes through. So I contacted Crawford Door and they were wonderful. They told me not to worry about it and they would be there in the morning to do it. They sent the bill and we sent the bill to the rep. He said that it would be a set-aside and that I had nothing to worry about.

    Everything went through and on the day I got my loan I sat down and wrote out all the bills I could pay. I wiped out everything that they gave me because I didn’t want to take a chance in spending it. That was the first thing I did and I thought everything was finally taken care of. A month and a half later I got a bill from Crawford Door. They were never paid and I tried to get ahold of the rep to ask him what was going on. He guaranteed it and then he wouldn't answer my calls and emails. I even left voicemails on his cellphone. That made me very afraid that Finance of America was shady.

    I was so upset that I finally called the corporate office because I lost Mike's number. And then the corporate referred me back to Mike and once I got ahold of Mike I calmed down because he was there for me. I told him I lost his number and he gave it to me again. Mike told me the rep was no longer with the company and he never put the bill for a set-aside. That $500 was in my money that I paid bills with, but nobody told me this so the rep messed me up a little bit. Now I still owe Crawford Door and I'm having to make some payments because I don’t have the money. It angered me because although the rep was no longer there he could have let me know that he was leaving. But obviously once he closed and got his commission he didn’t care anymore which is sad.

    People need to have someone there for them after they've gotten the mortgage as much as in the beginning process. Companies have to coach their clients along so that they feel comfortable that they're being taken care of. But I had a bad rep and anybody can have a bad rep. But he wasn’t bad the whole time. One little bad part of the apple didn’t ruin the whole pie and I would definitely suggest to skip the little guys and go with the boss.

    I also loved the fact that they came to me. The other two people that I was looking into would have had me go to their office to sign everything. But I'm in a wheelchair and it's very difficult for me to get someone to take me. When Finance of America said they were coming to me, it was wonderful because reverse mortgage is for old ladies and guys like me and it is more difficult for us to get out and take care of business. The guy who came and had me sign the 12-foot high stack of papers was very good at explaining things to me.

    I love Finance of America. They took care of everything for me, from the guy who did the appraisal to the guy who came to have the papers signed. As we're elderly people having to do this it's not as simple as when I first bought my home 50 years ago. But they literally were there for me every single step of the way. They made it so convenient and I would absolutely recommend Finance of America.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barbara,

    Thank you for taking the time to leave a review with Consumer Affairs and share your experience. We are so happy that everything went well and that you were Mike was able to guide you successfully through the reverse mortgage process. If you ever have any questions, don't hesitate to contact Mike or any representative at Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Oct. 15, 2017

    We couldn't make it on just our Social Security checks when it comes down to paying the taxes so I sought for a reverse mortgage. The lady from Finance of America was the first one to call and she sounded like she knew what she was talking about. She also said that it was going to be a good deal and that I should try it and how much interest I was going to get if we didn't use it She explained to me everything at the time. However, I don't know what I got to do now if I want more money. I would have to call her and find out what my next move would be because I took $10,000 when we started. Overall, Finance of America was very good and helpful.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Joseph,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that your loan officer was very helpful through the reverse mortgage process. If you ever have any questions, don't hesitate to contact your loan officer or a Finance of America Reverse representative.

    - FAR

    Verified purchase
    Rates

    Reviewed Oct. 14, 2017

    My house needed a new roof and the house is paid for so I decided that I'd put it to work for itself. I talked to about four different outfits and I liked that Finance of America has a cap on the interest. Most of the other ones didn’t have a cap on it. I was in touch with my loan officer a lot. There were a little bit of delays, part of it because I'm traveling a lot and I wasn’t here when they were here.

    Also I had to sort of pre-finance the repair because the FHA people wouldn't release the money until the actual roof was done. The guy from FHA inspected the house and said, " “Well, the roof isn't done. I can't give you a go-ahead until it's done because FHA was not going to do the backup coverage on the house until the house was in good shape.”

    That ticked me off a little bit because I said, “Well, I need the money to fix the roof, not the other way around.” But then I was able to finance it myself and other than the delays, the experience, as well as the transition, was fairly smooth. They explained to me how the line of credit actually increases if I don’t use it. Also the other good part of it was that I had an established evaluation X and they came back with evaluation X plus, plus. Then they hand it off to another company that manages it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    John,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that a reverse mortgage worked well for your situation and that your loan officer was in contact and guiding you the whole way. If you have any questions, don't hesitate to reach out to Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed Oct. 14, 2017

    My house had a very high valuation and I had a minimal debt on it. I also knew that if I could realign some cash, I’ll live on for a while. So I got a reverse mortgage from Finance of America Reverse. Their rep, Jason, was extremely cooperative, helpful and I regarded him as a really outstanding teacher when dealing with their company. He's a terrific person.

    But when the loan was finally in place, the people that I paid off did not treat me fairly and I may have to sue them. There were several times in the paperwork with Finance of America Reverse that there would be no penalty for prepayment. But when I paid them off on September 8, they kept interest for the entire month of September and that is a violation of the contract that I signed with them. Other than that, Finance of America was wonderful. They were pleasant to deal with and my experience was very favorable and very satisfying. If I’ll put a reverse mortgage on my new house, I’ll call them again.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Dennis,

    Thank you for leaving a review on Consumer Affairs. We're happy to hear that you had such a great experience with Jason and that he was very helpful through the process. We apologize for any miscommunication. Please, don't hesitate to reach out to Jason or another Finance of America Reverse representative with any questions that you have.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 13, 2017

    Nigel is a very thorough and dedicated person that has been there every step of the way. He has made this process seamless and uneventful. He went above and beyond the entire time. He is definitely heaven sent. THANK YOU SO VERY MUCH NIGEL!

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    Finance of America Reverse
    Response from Finance of America Reverse

    Diane,

    Thank you for leaving a review with Consumer Affairs. We are so happy that Nigel was able to guide you through a seamless reverse mortgage process by going above and beyond expectations. We appreciate your choice to work with Finance of America Reverse. If you ever have any questions, don't hesitate to contact us.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 13, 2017

    I was real happy with the process at Finance of America. I was thrilled by how fast it took. I decided to do reverse mortgage so that I wouldn't have a house payment. At first I had talked to somebody else about it, but it wasn't getting anywhere. So when someone told me about Finance of America Reverse, I went with them. They were very good at guiding me through the process. Working with Cindy was great, so I'm very happy. She took care of everything fast, was very complete and she covered the bases in case I had a low appraisal on how to get my money and all the possibilities. Everything was covered and explained. It's been a very great experience. In fact I'm referring someone else to Cindy who is interested in a reverse mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jim,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you are happy with your service from Finance of America Reverse and that everything was handled efficiently. We appreciate your choice to work with Finance of America Reverse and your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 13, 2017

    Working with Finance of America Reverse was a good experience. They weren't pushy, plus, it went fast and that was the main thing. I liked Scott, the guy who helped me, very much. I was working with another guy when Scott called me out of the blue. I told him where I was with the other guy. He then said he'll see what he can do for me. It was really great to have somebody call me.

    Scott was super nice and has great manners. He was in charge and answered all my questions very well. I had already done a reverse mortgage but I still didn't quite understand it. It helped me out a lot 'cause I got $30,000 back. I was really hurt and I needed money. I'm 72 and I'm still working. I do massage for a living. It's a hard job and I'm so tired. As you get older, it's even harder, but it's the best way that I could make good money at my age.

    It worked out great. Another good thing that Scott did for me was mention that I could have a line of credit. They've set aside a nice amount of money. It's drawing interest now, but I can't draw on it for a year, which is fine because I can live for a year on the 30,000 that I got. Plus, just knowing that when I need it, I could get cash, is huge for me. I would recommend Finance of America to anybody.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Sandra,

    Thank you for taking the time to leave a review with Consumer Affairs. We are pleased to hear that Scott was able to explain the product and guide you through the process at a good pace for you. Your choice to work with Finance of America Reverse is appreciated.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 12, 2017

    I lost my wife back in March and it changed my whole financial situation a little bit because my level of income had reduced to half of what it was. I had to find a number of different ways to save money so I decided to start researching the reverse mortgage as an option rather than continue to pay the high payment that I had. I found several companies and contacted some of them.

    I talked to Robert from Finance of America Reverse and he did things better than a couple of the other companies. I liked his professionalism and follow-up. Once I got involved with him, more and more I decided that going with their company was a good choice. The other people kept pursuing me, but I liked dealing with Robert. He made the whole process very easy. He was also very helpful and very informative. It was a very pleasant experience. Finance of America Reverse is a very professional organization and they handled everything very quickly and very thoroughly. By the time I was done with the whole thing, I had no questions at all since they had all been answered.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jeffrey,

    Thank you for leaving a review on Consumer Affairs. We're happy to hear that Robert was able to educate and help you through the reverse mortgage process in a professional manner. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 12, 2017

    I'm satisfied with Finance of America Reverse and we had no drawbacks. Initially their guy kept calling me and brought all the paperwork to me. I went over it with my wife before we decided to go with it. I talked with other companies but Finance of America Reverse was the most honest. Everything went well and I'd give their reps an A plus. They were very courteous and answered any questions we had. The finance helped out when I needed the money to get some of my hospital doctors paid. That worked out well for us. At our age there's not a whole lot we can do other than what we did so it's a lifesaver and I recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that your experience with our staff was an A plus. We're happy to answer any questions about your reverse mortgage any time, don't hesitate to contact your loan officer. It was a pleasure to work with you and we appreciate your recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 11, 2017

    Compared with other companies, Finance of America Reverse seem to be more aggressive and wanted things done. The loan rep who helped me was very thorough and provided updates and answers to all my questions. She gave me all the information I needed. Everything's been straightforward to me. A good experience overall.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Teresa,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that your loan officer was able to answer all of your questions, provide you with information and keep you updated on the process. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 11, 2017

    We had thought about reverse mortgage and had been looking into it. The gentleman from Finance of America talked to us about it and got us going with the reverse mortgage. We liked his customer service better than anybody else. He was great and very helpful. Also, he always returned every call promptly. The process was very smooth and everything went well. We were very satisfied with Finance of America.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barbara,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that the whole process went smoothly and you're satisfied with the guidance received, our service, and your reverse mortgage.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 10, 2017

    A couple of years ago, I went with a company and they were going nowhere. So I went online, found a couple there and went with Finance of America. I told the person on the phone that I talked to that we inherited this property from my husband’s side of the family and it was in pretty bad shape. So the money we were paying in rent, we put towards repairing the house. First thing we had to do was get the plumbing and the electrical done. We moved in here in winter so we also had to have the windows replaced. When the money ran out, I started using my credit cards, and it got to the point that there was no money and very little balance on the credit card. So that’s when I decided to go with the reverse mortgage.

    I also told the guy that the reason why I was going that direction was so I can have money to repair the roof. I had a home owners’ insurance for the first year and after that they said they would not renew it until the roof was replaced. So I needed to get the roof done and I wanted to pay off the credit cards. He said there would be no problem. When they had the property asset inspection, the man that came down said nothing to me about anything. He went through all those rooms, did a lot of writing, then he left.

    Later, I got a callback from Finance of America and they said that the inside floors had to be replaced. The carpet was one of the things on the list to be repaired because it’s old, worn out and so dirty you can’t even clean it anymore. That was not a problem. But we have wood floors in four rooms and they wanted those replaced or repaired. I didn’t see anything wrong with the floors but we’re happy it’s done anyway because none of the money was going to be released until those things were taken care of.

    When I called them about the situation, they said that they were sorry but it was up to us to get the job done and they would reimburse any money we put out for the repairs. If I had the money to do all of those repairs, I wouldn’t have had to take out the loan in the first place. They could’ve explained to me a little bit more when I told them I needed to repair the roof. They could've said then that that amount would be set aside for repairs, and once I got the roof done and it passed the inspection then they would pay for it. But they did not tell me that until after we had already gone through the whole process. So I'm very dissatisfied. They should be more upfront with the customer in saying what things had to be done and how it was going to work, instead of waiting until after I’m in between a rock and a hard place trying to figure out how I was going to be able to do those things.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Sherri,

    Thank you for expressing your situation on Consumer Affairs. We're going to be reaching out to you within the next couple of days to get a better understanding of your situation. We appreciate your patience and are very sorry for any inconvenience or miscommunication.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed Oct. 10, 2017

    I talked to my Finance of America Reverse loan officer and he seemed to be the guy that would give the checklist and go down through the items needed so I didn't bother investigate on other companies. I sent him my stuff but there seemed to be an awful lot of things that were redundant. But at some point, we got everything taken care of and got the loan. However, 4.9% interest is way too high so I applied for another loan to pay off the reverse mortgage.

    I also had to be counseled by some organization about reverse mortgages which costs $125. On top of that, the title people wouldn't listen to what Brett was telling them about a divorce that I had. They kept wanting to see a settlement agreement which was part of the divorce where all that information was provided but they kept saying they needed more. Brett finally said they were not going to get any more and it was either they get involved or not. All in all, this reverse mortgage process was very frustrating and I do not recommend it to anybody.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Stuart,

    Thank you for taking the time to leave a review with Consumer Affairs. We are so sorry that your experience with us was less than pleasurable. There are many rules and regulations in place to make sure that all parties involved are protected, including the borrower. We apologize for your frustration and we will have a representative reach out to you to gain a better understanding of your situation. If you have any questions, don't hesitate to contact your loan officer or a Finance of America Reverse representative.

    - FAR

    Verified purchase

    Reviewed Oct. 9, 2017

    I wanted to free up my money so I didn't have to keep feeling like I was struggling. Finance of America Reverse was the first mortgage company I went to and seemed to be easy to deal with. Yet, I wasn't too satisfied and it seemed complicated until the end because of the loan officer. He was confused and didn't know the experience some of the times but we were able to get it through.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Steven,

    Thank you for leaving a review with Consumer Affairs. We apologize for any inconvenience you experienced during the reverse mortgage process. We appreciate your feedback and if you ever have any questions, don't hesitate to contact your loan officer or another Finance of America Reverse representative.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 9, 2017

    We did extensive research for a reverse mortgage. We started out with AAG and we figured they were just too much and does not have the best deal. We narrowed it down to about five companies, and we narrowed it down to three, then we narrowed it down to two, and then we narrowed it down to FAR. The woman who we talked to from FAR treated us very well compared to some of the others. When there were changes to be made, she did them. The whole system with FAR was good. They gave us what we asked for. We’re both in our mid-80s and our program runs to 2020. By that time, we’ll probably be below the grass or in a suitable care center. FAR definitely did a good job.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Bob,

    Thank you for leaving a review with Consumer Affairs for Finance of America Reverse. We're happy that your loan officer treated you very well and helped you plan for the future. We appreciate your kind words.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 8, 2017

    Finance of America appeared to be very competitive with their pricing in comparison with other companies that I talked to so I chose to have a reverse mortgage with them for my retirement. I had other offers from other agents and when I compared the pricing and showed it to the other agents, Finance of America beat them. The pricing came up well since Finance of America brought a lot of money to the table and that made it compelling for me to go with them.

    William, the loan officer that I spoke with was very agreeable with everything. He was very nice and pleasant up to the point where I spoke to him about the appraisal. He said that they would take care of it and that they would pay for it, which was great. However, when we finished, they charged me for it. They lied to me and that pissed me off. Maybe he didn't mean to or it was a mistranslation of what he was saying, but I decided not to talk to him anymore after that. Other than that, the process was decent. They were very quick and responsive. It took a month from when I reached out to them up to when they were able to finalize. I was still hesitant so I researched, checked things and nothing was lag on their part.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Steve,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that William was very nice and pleasant during your reverse mortgage process. We apologize for any miscommunication on our end about the process. If you ever have any questions, don't hesitate to contact William or a Finance of America Reverse Representative.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 8, 2017

    I was running out of assets and I didn’t want to sell off anymore, so the choice was either get a reverse mortgage or a second mortgage. I have massive medical expenses, so I decided the reverse mortgage was the easiest way to go. The lady from Finance of America Reverse was wonderful and helpful at every step of the way. She gave me another contact who also gave me specifics as to what information I needed. They were friendly and willing to solve the hiccups that arose.

    When we ran into a bit of a snag, the lady took a hold of things and solved it instead of frustrating me. I ended up doing no work on my part and they made it incredibly easy at a time of some stress, because I had been going through money at the rate of $10,000 a month. I was also running out of assets and she helped me by giving me information and answering my questions. Everything went smoothly and so far, things are running the way they should. If I hear of anybody that wants to do a reverse mortgage, I kept the lady’s business card and I will suggest that they contact her.

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    Finance of America Reverse
    Response from Finance of America Reverse

    John,

    Thank you for leaving a review on Consumer Affairs. We're very happy to hear that your loan officer was very friendly and able to solve any hiccups that arose without frustrating you. Thank you for your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 7, 2017

    I had a very good experience and I could not have asked for a better guy to help me on this deal. I already had a reverse mortgage, but then Finance of America called me and they thought I could get more money, which I did. I have two or three companies on hand. And I did check out to make sure I wasn't signing away my life. And it came out okay. I think the best thing that sold me was Kevin. He was the one handling it and he sold the company to me for what he did. He was amazing. He was always available to me. For questions, he answered them correctly. He always did follow ups like he was supposed to do. He is a great asset to their company. It was very pleasant, very easy. I just enjoyed doing business with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Gloria,

    Thank you for leaving a review with Consumer Affairs. We are so happy that you had a great experience working with Keven and that he was always available and able to answer your questions. If you ever have any future questions, don't hesitate to contact Keven or another Finance of America Reverse representative.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 7, 2017

    I researched on the internet and looked at Finance of America Reverse's rating. I read comments about other companies and people who were not happy with other companies and I didn't find any negatives regarding this company. And when I asked for a response from Finance of America I got it right away. The process took a couple of months because we just moved here into this house. We had to sell one of our rental houses in order to buy this one and we paid cash. That took $150,000 out of our income and I had to replace that income with the reverse mortgage to have access to cash just in case something bad happened to us. I only took $20,000 out of the reverse mortgage and kept the rest for emergency needs.

    We had to go back to 2008 and find all those documents because we had to show the source of $750,000 in sales. Everything back that far was still packed and in storage. Thank God that I still have some of the documents that were needed to prove the source of our income and finances. I was really pleased with their continuing encouragement towards getting all the documents that I needed, which was quite expensive. They hung in there with me and we got it all done.

    Ernie was of inspired confidence in the product. He and his boss were prompt in assisting us through difficult times because they had very frustrating documents that were required. It was almost like working with the IRS and made us feel like we were thieves. They were very encouraging and he returned our calls immediately. My research proved out and everything's going really well so far. I haven't asked for more money but I get monthly statements about how our account is and the money left in the account. It's accessible and we're doing okay.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Gay,

    Thank you for leaving a review with Consumer Affairs and sharing your experience. We're very happy that you chose to work with Finance of America Reverse and that we were able to respond quickly and efficiently. We're happy that everything is going well. If you have any questions, don't hesitate to reach back out to your loan officer or a FAR representative.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 6, 2017

    I lost a lot of my retirement because of the Obama administration's policies as well as the stock market and real estate crash. So, I needed some extra retirement money. My sister had a successful reverse mortgage for 10 years or more, and I felt that the equity in my house, which was substantial, should be of value to allow me to have a better lifestyle for the next 10 years. I decided to sign up for a reverse mortgage as well and I did it with Finance of America Reverse.

    Their reps were courteous and Josh, the agent, talked me through it. He was excellent, too. But paperwork-wise and procedure-wise, Finance of America was hard to deal with. Initially, I was told that I could pay off my HERO loan. Then they said we couldn't and I didn't like the answer because I felt that that should be part of the mix. So, I called the FHA and I told HERO then I determined that I did not have a HERO loan, which wasn't mentioned to me at first. But I didn't give up. The paperwork was also a nightmare but it had to do more with FHA than Finance of America. It seemed that they have a lot more paperwork needed for a loan like this but Finance of America's people did not have good information at the time that we had a conversation.

    I was also very disappointed in the appraisal. I tried and tried to get something done but the appraisers were like Gods. I couldn't change their minds. A year and a half ago, I had $26,000 with Solar and I was allowed only $10,000 as value. That should have been 20,000 or $25,000 according to National Guidelines. So that was another big disappointment. I should have looked more thoroughly for an appraiser rather than take a local one who told me on the phone they had Solar experience, and it turned out they would not be realistic when it came to value based on my research on the internet.

    Then I recommended Finance of America to my neighbor who successfully achieved a reverse mortgage. Josh was also the agent to do that. He worked hard for both our accounts. Things went relatively smooth for my next door neighbor except that their appraisal came in really low as well. It was appraised at $20,000 less and I don't know if that's the trend but we were both disappointed in the appraised value of her house which was just like mine.

    Other than that, a lot of the difficulties I had were beyond Finance of America's direct control. It should have been smoothed out with the reverse mortgage people helping me get through the appraisal, Solar, paperwork, HERO loan and California Energy. Plus, I should have gotten assistance to pay off my Solar out of the proceeds. I'm a little hesitant to recommend a reverse mortgage at the moment to anyone though that has nothing to do with Finance of America Reverse but with the process. It's cumbersome for seniors to take advantage of.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for taking the time to share your experience with Consumer Affairs. It's great to hear that Josh was courteous and excellent. There are many rules and regulations in place to make sure that all parties involved are protected, including the borrower. We apologize for any inconvenience. If you ever have any questions about your reverse mortgage, don't hesitate to contact your loan officer or another Finance of America Reverse representative.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 6, 2017

    I spoke with other mortgage companies and I didn't like the way they handled my case. They counseled me and they have been a little shady and I was afraid to go with them. And then I talked to somebody from Finance of America Reverse and everything was changed. I enjoyed my experience with them. I liked the way they answered the telephone and my questions in general. Every time I called they were right on it.

    I was very satisfied with their workers. I dealt with at least three agents. I supplied everything they asked for and they helped me follow all the guidelines. I could not be as thorough following instructions of better brokers. They are good workers that are dedicated to their jobs. If they were busy with someone else they answered their voice mail as soon as possible. It took a long time to complete because I had a lot of issues because I was moving from Florida to Jersey. I could not get the final CO until the contractor finished his job which took him forever. That held up the whole process. But I found Finance of America Reverse to be excellent and I would gladly recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Mafalda,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that all of your questions were answered and that you were satisfied with the service from your loan officer from start to finish. We appreciate the opportunity to serve you and your recommendation of our services to others.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 5, 2017

    My loan officer, John, was very professional with the way he dealt with my situation that's why I went with Finance of America Reverse. He went over and above to make the deal happen. My son did the painting on the side and I did more painting than was necessary. But when they gave me the money, there were some discrepancies in the paint which I had done about a month ago. The inspector came out and inspected it but he didn't tell me if he approved it. He just took pictures. But I'm entitled to a reimbursement of $1,375 excluding the fees for the guy who came for the inspection.

    So I sent them a letter stating that I want a check mailed to me but I never received it and nobody contacted me since then. I complied with everything they told me to do and I should be reimbursed. I called them last week about it and it was hard to get a hold of anybody. I was on the phone for a half hour to 45 minutes to reach anybody at their office or experiencing long wait times. Then they said they didn't get the report from the guy who came out doing the re-inspection of the paint.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Rocco,

    Thank you for expressing your situation on Consumer Affairs. We are so sorry to hear that you have had some issues with your reverse mortgage. Someone will be in contact with you shortly to get a better understanding of what happened. We appreciate your patience through this process.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 4, 2017

    I needed some cash to work with for maintenance on the house and it seemed like Finance of America Reverse was the best one to work with. I got pushed in the right direction. The only thing was that the original estimate that they worked on was based on a two-year-old tax estimate on the value of the home which was over $300,000. I told their rep that the way things were right now the best estimate would have been around $285. I ended up actually passing it at around $290. They were comfortable to work with, friendly and not too pushy. I would recommend them to a friend.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ted,

    Thank you for leaving a review with Consumer Affairs. We're appreciative of the opportunity to serve you and are happy that you experience with our team was comfortable and friendly. Thank you for you recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Oct. 4, 2017

    My house is just a stack of lumber and all my relatives are deceased but I'm not going to give the house away. I'm spending for the house and there should be enough left in equity over the years. I did a mortgage of $9,000 with Finance of America Reverse and they paid that out. I tried another company first but it was a horrible experience that lasted almost a year. I'm smart enough to know what was going on in the first place and I could tell if there was something right off the bat.

    There are land grabbers and they want your house for nothing. When they sent out an appraisal, they had houses that were facing huge three-way fences and it was just a bad experience. It's all done though I'm content and life goes on. I researched different companies and Finance of America Reverse popped up. They sent me a representative that was from White Bear Lake. I live in St. Paul and we had something in common right off the bat being from the same part of the state. Their loan officer was the best too and I had a good experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Patrick,

    Thank you for leaving a review with Consumer Affairs. We're so sorry to hear about your bad experience with another company, but very happy that we could make it right and guide you through the reverse mortgage process. It's great that our loan officer was able to make sure you had everything you needed. We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Customer ServiceStaffLoan Process

    Reviewed Oct. 3, 2017

    We started the reverse mortgage process because my husband had to retire for medical reasons. He was just not able to work any longer. Our income and finances suffered greatly. We gave Fareverse mountains of paperwork, in some cases twice. Went through their counseling process, etc. Then it seemed that the process stalled. Every time we called for an update, there was no news, or they needed more information, which we had already provided. I feel we were strung along for no reason. We were stressed to begin with, and this just continually added to our stress. This process went on for 5 months, until my husband couldn't take it any longer. He finally said, "Give me an answer or we are done". We never received an answer. It seemed like they didn't care at all. Unanswered calls, emails, and texts is not an encouraging endorsement to a company.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Sherry,

    We appreciate you taking the time to express your situation on Consumer Affairs. We are terribly sorry for any miscommunication and problems that you have had. Someone will be contacting you in the near future to review your situation and get a better understanding of how we can correct the issue.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 3, 2017

    I weighed all my options and saw how my income was. I hadn’t been able to save what I wanted to so I figured a reverse mortgage was the best option out for me. By doing a reverse mortgage, I got a monthly payment that would help me out. And the reason I chose Finance of America was the agent seemed to be willing to help me. He was more honest about what he was saying, like what would happen and how to go about it. He broke down to me the different options I had, laid the plans out, and gave me a chance to see which one would better suit me. I had one company that I dealt with and they weren't upfront with me with everything.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Eddie,

    Thank you for leaving a review with Consumer Affairs. We are happy that a reverse mortgage fit into your retirement plan. It sounds like you had a great rapport with your loan officer about all of the ins and outs of the reverse mortgage process and any questions you may have had. We appreciate the opportunity to work with you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Oct. 2, 2017

    My mom and I lived together and the house was hers. When she passed away, it wasn’t paid for about half-way. She had more income than I did and there was no way that I could make the payments on it. Sadly, I knew that I would have to sell it. A friend gave me Finance of America Reverse's phone number and told me that I should check them out. I looked into a reverse mortgage and I decided it was perfect and was the best move for me because I don’t have any siblings, any children, a husband, and nobody to leave anything to. I thought about moving at one time, but then I decided that I know this house. I love the neighborhood. I have good neighbors and I feel safe here. The house was in good shape and what’s been done to it.

    Kevin, the loan officer, was helpful and patient. Whatever problem or question I had, they were right on it. If he didn’t know, he would ask somebody else and call me back. I couldn’t have asked for a better experience than I had with them. I had no problems with them at all. Kevin even found me a local attorney to go through the process when I found out that I still had to go to court. It turned out that the guy that he found was highly recommended and highly thought of up here. So, they definitely went across and did everything that they could to help me.

    Even the guy who did the closing said he had heard nothing but good things about the company. He told me that, in a couple of years, he and his wife also planned on doing a reverse mortgage and that they were planning on using Finance of America Reverse. So, that made me feel good too. It was an all-around good experience. Everybody I talked to in the company was helpful, understanding, and patient. They were fantastic. I'd recommend them to anybody that’s in the same situation that I was in.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Judy,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that Kevin was so helpful and able to walk you through the reverse mortgage process smoothly and that it was an all around good experience. We appreciate the opportunity to serve you and your recommendation of our services.

    - FAR

    Verified purchase
    Staff

    Reviewed Oct. 1, 2017

    I've got a lot of equity in the house and I wanted to use it. I went with Finance of America Reverse and my interaction with their reps and the guidance that I got was excellent.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for leaving a review with Consumer Affairs. We're happy that your guidance and interactions with your loan officers was excellent. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffRates

    Reviewed Sept. 30, 2017

    My husband is 83 and wants to retire. We plan to stay in our home and it's good for the long haul for us. Our mortgage payment is a significant factor in our retirement income which is fixed. Lowering expenses would eliminate the mortgage and having a reverse mortgage seemed like a good way to start. I sent out fillers to different companies via email but we changed our minds. So I emailed all these people and thanked them for their time because we decided not to do this.

    The one and only rep who called me on a Saturday morning spent time and went the extra mile. He said, "I would like to talk to you more. You might have misunderstood certain things.” I've learned that there's only so much a reverse mortgage can do based on certain immutable facts. The competition is between companies that offer the best service and the best credit rate. I laid my fears and went with Finance of America Reverse. It was excellent and all of our questions were answered. I've already recommended them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Sharon,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that you decided to make a reverse mortgage part of your retirement plan. We're happy that your loan officer was able to go the extra mile for you and make sure that every part of the reverse mortgage was explained. We appreciate your recommendation and the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed Sept. 30, 2017

    We have a nice house which we just had repainted and we asked our kids if they would like to have it 'cause we're getting up in age. But they have their own house and they didn't want to be responsible for mine too. I figured that through a reverse mortgage I'll get something out of it then let it go and whoever wants to pick it up at the end can sell it and do whatever they want to do with the money.

    We've been hearing about Finance of America and when they sent an appraiser out here, they told me the amount that my house was worth. But he didn’t do a good job looking at my house sufficiently. He went down the basement and didn’t know that I had a bathroom down there. Then he put that we didn’t have things including a fence when we had a brand new one around the place. I only got $25,000 and it wasn't enough.

    Our house is near an area where it's not so good and the appraiser wouldn't give us the highest amount. So I did not get what they promised me after I paid. If they would have turned it around then sent the appraiser first so I could find out how much this place is worth, I would have thrown it out the door. The guidance we received was nice. Everybody there got a $1,000 out of my money but I did not get any money. We took $5,000 to see but we don't even have enough to go for a trip on a train that I wanted. If they would give me a free train trip, I would be satisfied and in that way, they could make things right at least.

    I had to stay in the process because I didn't know how to get out of it. We placed the contract for 18 months. But they gave me money that I didn't have to touch. I had it put in a bank that collects a little higher interest so my money is working and I could get some money to use. But they ought to go back again and tell me how much this house is worth. I'm dissatisfied and I want to sue them for false representation.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Richard,

    Thank you for expressing your situation on Consumer Affairs. We are so sorry to hear that the process did not go the way that you expected it to go. A representative will be in contact with you shortly to review your situation and get a better understanding of what happened and what we can do to correct it. We appreciate your patience.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Sept. 29, 2017

    Finance of America was excellent and they were easy to work with. They gave me enough information and if I wanted more, they would give more. Also, their loan officer was very polite, helpful and knowledgeable. The process went smoothly as well and it was done before we even realized we started. They made me feel very comfortable with what I was doing. They did an awesome job and I would recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Donald,

    Thank you for leaving a review with Consumer Affairs. We're happy that you were able to get all the information you needed and that the process of working with our team went smoothly. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 28, 2017

    I needed to do a reverse mortgage for my mother. She has problems with her medical condition, so I have a Power of Attorney for her. I went to a lot of different companies and got four quotes. It did not work out with my first choice since they don’t deal with a POA. Then I heard of Finance of America Reverse from Consumer Affairs and we were able to work it out. I had tons of interaction with the loan officer. The basic issue was I had to establish with letters from doctors that my mother was capable of signing the POA that was recently enacted but she would not able to handle the reverse mortgage later on.

    The loan officer worked with me to get that approved. Then we hit another stumbling block later on. It turned out that there was a lien on the house that my father had as part of his divorce to my mother. I had to find him and work that out with him to get that lien paid. All in all, the whole process took about eight months. Right up until the end, I was very dissatisfied because, when the reverse mortgage finally got to the point where it was financed, the loan officer wouldn't return my calls anymore and I had a few questions. I didn't know that our case was being taken over by another group.

    Overall, that experience was a nightmare, mostly due to the regulations that the government has set up for a reverse mortgage. The POA needed to get established as valid and that took six months to do. I had a lawyer that did the POA and he signed off that my mother was competent to do it, and that should have been good enough. I also got a letter from the doctor saying that my mother was competent enough. But still, Finance of America Reverse wouldn't let me do the reverse mortgage for my mother because they said she should be able to do that herself. But the fact is that a reverse mortgage is 20 times more complicated than a POA. I could go back 20 years and my mother wouldn't have made it through the counselling session which was so complex. I was quizzed in a call lasting an hour and a half on my detailed knowledge of a reverse mortgage and that was ridiculous.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Tad,

    Thank you for leaving a review with Consumer Affairs. We're happy to hear that our loan officer worked with you to get over all the road blocks in your experience.Reverse mortgages have many regulations in place to make sure that all parties (including the borrower) are protected. If you ever have any questions, don't hesitate to contact your loan officer. Thank you for allowing Finance of America Reverse the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Sept. 28, 2017

    I needed a reverse on my credit and Finance of America were well-known. I contacted them first and I got some good information, so I went with it. My interaction with their loan officer was excellent. She was very explanatory, patient and knowledgeable. I felt comfortable about it. It's critical because I didn't know much about all these and she walked me through it. It has gone well so far. They’re a helpful and good company.

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    Finance of America Reverse
    Response from Finance of America Reverse

    William,

    Thank you for leaving a review with Consumer Affairs. We're so happy that your loan officer was excellent and very explanatory about the reverse mortgage process. If you have any questions about your reverse mortgage, don't hesitate to call.

    - FAR

    Verified purchase
    Staff

    Reviewed Sept. 27, 2017

    I needed a reverse mortgage. I had two providers trying to get a hold of me and I liked Finance of America Reverse's rep whom I talked with. He was better. He was also knowledgeable and very friendly. Getting the mortgage with them has been very simple to do.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Billym

    Thank you for leaving a review with Consumer Affairs. We're happy that you hit it off with your loan officer and were able to easily go through the process of a reverse mortgage. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Sept. 27, 2017

    We needed a roof immediately and some other things for the house. We also wanted to start some kind of a savings account. The guy from Finance of America was really nice and he explained everything to me. He would call me and talk to me about what's coming up, what I have to do with my paperwork and how to do it. I like dealing with them. I had to talk to another mortgage company first, and they came up with things that I couldn't do, so I told them to put it on hold. So, when I talked to the guy from Finance of America, I told him what the guy from the other company told me, and he said that I don't have to do it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ronald,

    Thank you for leaving a review with Consumer Affairs. We're very happy to hear that your loan officer was was really nice and able to easily guide you through the reverse mortgage process. If you have any questions, don't hesitate to reach out to you loan officer.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Sept. 26, 2017

    I was very fortunate to have Robert ** handle the process of obtaining a Reverse Mortgage for me. Mr. ** should be commended on his professional demeanor. He kept me advised as the process proceeded. He was so pleasant and helpful. I know that he was dedicated to assure that I obtained the Reverse Mortgage that I so desperately needed. I can never thank him enough, for his tireless effort on my behalf. I would most assuredly recommend him to my friends.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jan,

    Thank you for leaving a review with Consumer Affairs. It's great that Robert was able to guide you through the reverse mortgage process. We appreciate your recommendation and the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 26, 2017

    I had been very disappointed by another lender as they were trying to do reverses but their personnel was lame and I was getting conflicting information depending on who I talk to. So, I responded to a blurb on Facebook that I wanted to get more information and Finance of America Reverse was the first one to respond. When their rep, Chris called me, I quizzed him strongly on the subjects that I was interested in and he had the answers to everything. He was extremely knowledgeable with a great personality and I felt like we were friends when we were going through all this.

    I was quick on his request so, the process moved as fast as it could. I explained to him that at the same time, I was finishing the addition to my house, which was going to help with the appraisal because it was adding quite a bit of square footage. Chris was a very good manager of this whole project. He was quick to follow up on any glitches, anything where I felt like it might be a problem arising. He was quick to get it straightened out. I've got one statement that didn't come and I had to call them to ask for a copy, which they actually emailed me, so I was able to download, print, and put it in my file. I got one over the weekend so they're right on schedule this month. I tried to get my sister to go with Finance of America too.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Edward,

    Thank you for taking the time to leave a review with Consumer Affairs. It sounds like you and Chris hit it off from the start. We're happy that all of your questions were answered and that you were satisfied with the speed and diligence of your reverse mortgage process. If you ever have any questions don't hesitate to reach out to your loan officer. We appreciate your recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 26, 2017

    Our 401K money was getting low and I still needed to have our house painted and the landscaping done. Since we had no intentions of leaving the house, I thought of getting a reverse mortgage. My husband was sick at that time and if anything ever happened to him, I would have a very difficult time staying at our house. When he got out of the hospital, I told him that we needed to get a reverse mortgage so that we won't ever have to worry about leaving our house and if something happens to him, I can live comfortably at our home. My husband knew that I was taking care of the whole reverse mortgage transaction. I have a real estate background so no one can throw any terminology about this at me that I didn't know or understand.

    I went online and searched for reverse mortgage companies, looked at the reviews, and got information from three companies. I also went to our financial adviser to let him know what we were doing and he thought that a reverse mortgage was a good idea for us. He looked at all the proposals and said they were all the same since the reverse companies were being regulated by the government. He told me to go with whoever I felt best talking to, so I went with Finance of America Reverse.

    The rep, Carol, was wonderful and kept in touch with me everyday. While other reps were more high pressured, she seemed like a good friend and I felt most comfortable with her. When she heard that my husband was ill, she called to find out how he was doing. Everyone at Finance of America was very efficient. They called and asked for documents, then I emailed these to them. We didn't even have to leave the house to go to a notary since they came with all the papers. We signed the papers and they left copies of everything we signed.

    Our loan closed a lot faster than I had expected. They didn’t have any closing cost, which was great. They even paid $75 for the appraisal and the appraiser was super nice. So, the only thing that came out of my pocket was the $150 for the counseling fee. My girlfriend also had a reverse mortgage and it cost her $800. She should have talked to me and I would have told her about my wonderful transaction with Finance of America Reverse. I was absolutely thrilled with the whole transaction and I would recommend them to anybody who’s considering a reverse mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barbara,

    Thank you for leaving a review with Consumer Affairs and sharing your experience. It is great to hear that you chose a reverse mortgage as a part of your retirement plan. We are so thrilled that the process went smoothly and that you felt so comfortable with Carol. Don't hesitate to reach back out to your loan officer if you have any questions. We appreciate your choice to work with Finance of America Reverse and your recommendation of our services.

    Verified purchase
    Staff

    Reviewed Sept. 25, 2017

    I needed work to be done on my house and I didn’t want to go into another bill, so I got additional information, read up on the reverse mortgage and went through quite a few companies before I ended up with Finance of America Reverse. They gave me excellent guidance in making my decision and after speaking with their rep, I felt at home. She was extremely pleasant, courteous and helpful. She's the reason why I stayed with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Catherine,

    Thank you for leaving a review with Consumer Affairs. We're happy that you chose to work with Finance of America Reverse. It's great to hear that your loan officer was able to give you excellent guidance and make you feel at home. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 25, 2017

    I had a good experience with Finance of America Reverse. I've read about them in a paper, called them and I liked the people I talked with. They were knowledgeable and they explained to me exactly what a reverse mortgage was so I wouldn't make a mistake. Erika, the girl I dealt with, was very helpful. She knew exactly what she was doing. I would advise anybody that didn’t have children and didn’t want to leave their house to anybody to take the mortgage. It would give them a little more money while they’re here on earth.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Dorothy,

    Thank you for leaving a review with Consumer Affairs. We're happy that Erika was able to walk you through the reverse mortgage process and explain all of the aspects of the loan to you. Thank you for choosing to work with Finance of America Reverse and your recommendation of our services.

    - FAR

    Verified purchase

    Reviewed Sept. 24, 2017

    A friend told me about Finance of America Reverse. I chose a reverse mortgage as part of my retirement plan because I wanted to get the cash out. The guidance I have received from Finance of America Reverse in making my reverse mortgage decision was okay.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Joseph,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that you chose a reverse mortgage as part of your retirement plan. If you ever have any questions regarding your reverse mortgage, don't hesitate to contact your loan officer at Finance of America Reverse.

    - FAR

    Verified purchase
    Loan Process

    Reviewed Sept. 24, 2017

    I got a reverse mortgage to give me extra cash. I didn’t have to have it, but sometimes I need drugs that I can’t afford. I have to charge and then make payments, which I didn’t want to do. I've also done some remodeling around here. Finance of America's loan officer was good, and everything went smoothly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Bill,

    Thank you for leaving a review with Consumer Affairs. We're happy that a reverse mortgage made sense for you and your situation. It's great that the loan officer was good and that everything went smoothly.

    - FAR

    Verified purchase
    Loan Process

    Reviewed Sept. 23, 2017

    I put a request online for companies that could handle my needs and Finance of America was in the middle in terms of closing costs, but I liked the lady that I dealt with so I went with them. They were prompt and provided the information right away. I didn't have to wait a week to get it. However, it took a little longer to get it closed out than they anticipated because there were people that they had no control over, like the appraiser, that didn't react as quickly as they felt they would.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Yancey,

    Thank you for leaving a review with Consumer Affairs. We appreciate your choice to work with Finance of America Reverse. It is great that our service was prompt and provided the information you needed right away.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Sept. 22, 2017

    I checked a couple of mortgage companies beside Finance of America Reverse and they were the most responsive and the most cooperative. Their loan officer is very cordial, very informative and very helpful.

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    Finance of America Reverse
    Response from Finance of America Reverse

    George,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that your experience with our team was very cordial and helpful. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed Sept. 21, 2017

    We have no children and we had a small mortgage. With a reverse mortgage, we would eliminate that payment to increase our budget a little bit or make our budget a little more manageable. I checked with two or three companies and Finance of America Reverse had the best terms. Their rep Robert was very professional. He'd always return my calls promptly and any little glitches that we ran into, he worked on them very quickly. He was also very good about giving us various options whether we deadlined in credit or the amount that we selected for the fixed rate loan. Overall, it's a very good experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Tom,

    Thank you for leaving a review with Consumer Affairs. We're happy to hear that Robert was able to make your reverse mortgage process smooth and an over all a very good experience. We appreciate your choice to work with Finance of America Reverse

    Verified purchase
    StaffRates

    Reviewed Sept. 20, 2017

    I chose a reverse mortgage a part of my investment plan, and with the cost and the rates available to the market at the time I did it, I could easily recoup my investment to money. The rep from Finance of America Reverse was pretty knowledgeable, responsive and followed the directions well.

    Thanks for your vote!
    Finance of America Reverse
    Response from Finance of America Reverse

    Tom,

    Thank you for leaving a review with Consumer Affairs. It's great that your loan rep was knowledgeable about your situation and responsive through the reverse mortgage process. If you ever have any questions, don't hesitate to reach out to Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 20, 2017

    We've been looking at retirement options for close to a year, doing internet lookups, read some of the reviews and interviewed a couple of companies before my wife and I decided to go with Finance of America Reverse. We only have social security and what’s keeping us from retiring are the medical issues I’m going through and our mortgage. It’ll be great if we get rid of it so the reverse mortgage absolutely fits our plan.

    We’ve mostly dealt with Nicole and she was very good. We really liked working with her. She was answering specific questions that we had in regards to how it all worked on frames and she’s been very responsive as far as telephone calls and emails. Even though we had a two-hour time difference, she was always available and if not, we'd receive a phone call before the end of the day. Finance of America Reverse went into great detail about what we were doing and what we're about to do. They also discussed the ramifications for surviving spouses, the selling of the home and all of the important details. Their process was pretty seamless, very user-friendly and it's closed unbelievably fast. It's a very smooth transition and we're pleased with the results.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you for taking the time to share your experience with Consumer Affairs. We are so happy to hear that you had such a wonderful experience incorporating a reverse mortgage into your retirement plan with Nicole. It's great she was able to answer all of your questions about every aspect of the product and ensure that the process went smoothly. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 19, 2017

    Finance of America Reverse did my reverse mortgage. I'm very satisfied with the experience and I've shared it with others whose state might be benefited by this. The person who worked with me was so helpful. He was patient when I would get frustrated. He was optimistic when I was not so optimistic. He would help me understand what was needed and worked through the issues that needed to be resolved. When I called he was available, but if not, he returned my calls quickly. He also answered my questions and gave me the necessary information I needed in a timely way. When it was time for me to speak to another person, they followed through the same kind of service that the loan specialist has provided.

    It's quite an experience and it is making such a difference in our lives. My husband doesn't have to try to get the gigs he used to get for the mortgage and I don't have to do the part-time job that I was doing. We have been relieved of the financial stress and we can think about other things now. I tell people about Finance of America Reverse, I send them information and I send them my loan officer's name and tell them to find him and he'll put them in contact with the right people and get them going.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ruth,

    Thank you for leaving a review with Consumer Affairs and sharing your story. It is great to know that you are very satisfied with your reverse mortgage experience from Finance of America Reverse. If you ever have any questions, don't hesitate to contact your loan officer. We deeply appreciate your recommendation of your loan officer and our services.

    - FAR

    Verified purchase
    Staff

    Reviewed Sept. 18, 2017

    Finance of America Reverse was nice and explained everything to my mother. She got $10,000 of it upfront and then they told her she’d get the rest of her money in June of 2018, and she's looking forward to that. She said everything went well and she seemed to be happy. There was a lady, named Jamie, who helped us through the whole thing and she was great, really there for us, very professional and friendly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    John,

    Thank you for leaving a review with Consumer Affairs. We're so happy that you and your family are pleased with our service and with Jamie's guidance through the reverse mortgage process.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Sept. 17, 2017

    I had to have a reverse mortgage done as soon as possible and the lender that I was dealing with was slow and wasn't moving, so I dealt with Finance of America Reverse and it turned out well with them. The rep that I worked with was very nice and I had a very good interaction with her. My situation was unique and she was very knowledgeable about my particular situation, and she dealt with it very well so I was very pleased. The guidance that I got for my situation was good and the rep dealt with my problems very quickly. So, I definitely had a very good experience with Finance of America.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Reginald,

    Thank you for leaving a review with Consumer Affairs. It is great to know that your loan officer was very knowledgeable on your situation and that you are pleased with your experience.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed Sept. 16, 2017

    My husband had dementia and he died. I was in poverty and I had to sell my house and move. I started doing research online and getting correspondence. I looked at three companies and one of the people at Reverse was the most helpful and I liked some of their rates better. Their rep was very good, answered all of my questions and showed me some things I didn't know. She made it a lot easier to understand. Overall, I had a good experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Virginia,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that our rep was able to help you through the reverse mortgage process and answer all of your questions about the product. We're very happy that you had a great experience working with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Sept. 15, 2017

    We wanted to not have any payment. I talked to the salesman of Finance of America Reverse and he sounded nice and easy to work with. He was knowledgeable and he kept us informed all the time and called me a couple of times a week and it went really smoothly. I thought it was gonna take months and it only took one month. It was really easy and quick and they kept me educated and informed and I was really happy with it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Janet,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that you're satisfied with the process and that it went smoothly. We're happy that your loan officer kept you informed and you're happy with your reverse mortgage.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 14, 2017

    I'm 80 years old now. I did the reverse mortgage so I'd cut some on my bill and it had a nice effect. I had a reverse mortgage already and I want to do another reverse which is allowable. I had a lot of problems and errors that had to be taken care of and Finance of America was very good, understanding and patient. They were also nice to work with and they had no pressure. And once you're finished with them, they even call you back. It was a very good experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jerry,

    Thank you for leaving a review with Consumer Affairs. We're happy to hear that everything was taken care of and that your loan officer was nice to work with. We appreciate you're choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 13, 2017

    I was dealing with a company that was supposed to get everything done but it got up to a point where it just hung up and was going nowhere. I was already approved at the application, but they had to have the final word from the underwriters. The guy I was dealing with said that they will have it in a day or two, but it turned out into a week or two and then turned into over a month. Then I got contacted by Finance of America Reverse and I told them about that. The nice lady that worked with me went out of her way to get her upper management get me approved which was good. There were some hang-ups too, but she kept working on it and made it happen. The people I worked with at Finance of America went out of their way to help me get approved. Everything is going okay with the way the loan is being serviced but I’m at the point where once they got everything done and got their commission, they didn’t really care if they talked to me anymore.

    It was also a little bit misleading on how the mortgage would be serviced. I got the impression that they were a fully integrated company and they handle all their own financing and servicing. But the appraisal on the house was done by a local firm and the details he put down were incorrect. He went around and supposedly measured everything with an electronic tool and seemed very thorough on that but when he compared it with what the realtors had, some of the comparables on their listings tend to be inflated. But when I took my tape measure and measured the dimensions of my place, I came up with about 400 square feet more than what he had.

    Our house is a three-bedroom townhouse with two-and-half bath and a two-and-a-half car side-by-side garage that's fully enclosed and a deck. It's in an ideal location within this townhouse community and very private. In the end, there had to be a lot of tooth-gnashing to get the guy from the local firm straighten up what he wrote. Other than that, Finance of America Reverse has been nice to deal with and they've done everything I wanted.

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    Finance of America Reverse
    Response from Finance of America Reverse

    William,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that we were able to go above expectations and work to diligently guide you through the reverse mortgage process. Reverse mortgages have many regulations in place to make sure that all parties (including the borrower) are protected. That is why your house appraisal was contracted through a local company that has been appropriately certified. Your satisfaction is very important to us. If you ever have any questions, don't hesitate to contact your loan officer. Thank you for allowing Finance of America Reverse the opportunity to serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed Sept. 12, 2017

    I had done a reverse mortgage with Urban Financial, now Finance of America Reverse, back in 2012. I then worked with them again and chose a reverse mortgage since I only was getting social security and I couldn't afford to pay the house payment. It was wonderful with Scott, the loan officer. He's the same one I worked with the first time. So, I had already been through with him. He was very knowledgeable and treated me very well and got things done very quickly for me. The guidance I received was very good. It's a great experience with Finance of America and it's a company for anybody that needs help paying for their mortgage once they get on social security and can't afford to pay their mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Phyllis,

    Thank you for leaving a review with Consumer Affairs. We're happy that you enjoyed working with Scott so much that you came to us again to serve you. It's great to hear that you received good guidance and had a great experience with Scott and Finance of America Reverse. Thank you for your recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Sept. 11, 2017

    I wanted to pay out some bills that I had, and also needed to do more work on my property. So, I got the program from Finance of America Reverse. The loan officer, Tony, always answered the phone when I needed information. He tried to push along as good as he could. I just bought the place when I first called him so he told me to wait a year to get a better appraisal and get the house more work then. He’s courteous and he tried to keep everything smooth and good.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Leroy,

    Thank you for leaving a review with Consumer Affairs. We're happy that you chose to work with Finance of America Reverse with your reverse mortgage. It sounds like Tony was able to help you through all parts of the process in a courteous and professional manner. We appreciate the opportunity to assist you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 7, 2017

    I checked with Finance of America Reverse and saw what they had to offer. I did a reverse mortgage because I like the fact that I didn't have to make monthly payments and a part of the money came that I could use and get my taxes paid. I started with them and they tried to find any information and I got a little education on how it worked. They kept walking with me till it finally came to fruition. The loan officer was terrific. He worked with me and stayed in touch. Anytime I needed something or every time he needed something, he was right there to call. He kept me in the loop the whole time. Everything was good and I couldn't have done it without the guidance I received from Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Donald,

    Thank you for leaving a review with Consumer Affairs. It's great that your loan officer was able to guide you through the reverse mortgage process and answer all your questions about the product. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    StaffRates

    Reviewed Sept. 6, 2017

    My husband questioned a couple of companies that were offering reverse mortgage and Finance of America’s rep was the one who acted the quickest. He was very explanatory about everything that we were doing. There were a couple of things that I wasn’t happy with but that’s okay. It started out that I was gonna be getting my $1500 and by the time everything happened, I ended up only getting $6. I had a lot of different bills I was planning on paying off and I had gone so far with everything. I felt like it was stuck in there. I paid a few bills and I still got an outstanding credit card that I am paying on but the interest is through the roof.

    I'm hoping that when the value goes up, I can take another account on it. I’ve done so much work to make the house beautiful. Everything’s new here inside and the appraisal was still way down. It was the right decision but I was a little upset towards the end. The rep said, "Well, we can't do anything. That's the way it went." Although everything else went as smoothly as it could, it could’ve been better. It’s the house that worth that much and I’m only paying off $50,000 mortgage. They couldn’t throw that extra 10 grand in there.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Wayne,

    Thank you for taking the time to leave a review with Consumer Affairs and expressing your situation. We're sorry that the process didn't go quite like expected. Reverse mortgages have many regulations in place to make sure that all parties (including the borrower) are protected. If you ever have any questions, don't hesitate to contact your loan officer. Thank you for allowing Finance of America Reverse the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed Sept. 5, 2017

    I was looking up reverse mortgages and saw Finance of America Reverse. They had the best rates among two or three other places so I went with them. Their loan officers were pleasant, patient, informative, and very knowledgeable. The deal got done after about six months but it was mostly my fault. I wasn't in a hurry but everything went okay. I was working with two other companies about the same time and the advice I got from all of them was similar. Finance of America Reverse did a good job of explaining options. However, how they show the possible financial outcome is a little misleading as it's based on the best case scenario. If the value of the house continues to increase and I don't take any money then I see a net increase. But that's assuming that I don't draw any money out, which is the reason I get a reverse mortgage in the first place. Still, it was an enlightening and positive experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ken,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that you're pleased with the knowledge your loan officer was able to provide during the reverse mortgage process. We apologize for any misunderstanding and are happy to hear that you had a positive experience. If you have any questions regarding your reverse mortgage, don't hesitate to contact your loan officer. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 4, 2017

    The loan officer from Finance of America that I spoke with was a very patient and wonderful person. She was, literally, at my beck and call for almost two months. I didn’t really find out what the program or the process was until I applied, but she was very knowledgeable and repetitive because some of the information is unbelievable. I was required to go to a counseling session together with my lawyer where they asked me questions whether or not I was certain about doing the reverse mortgage and they reiterated exactly what the loan officer had told me. During the loan process, if I had any questions, I would call her up and we’d go through about 125 pages together. It’s overwhelming but she made me understand things that I was skeptical of, so she made all the difference in the world to me.

    One of the things that made me trust her was when she got ready to hang up the phone after the first time I talked to her, she said, “God bless you” which I found very unusual in a corporate environment. I had talked to another loan officer from RMF and I had gone through the initial part of the process with them. The difference between the two loan officers was their attitude and their responsiveness. The way that I was informed and in terms of developing a trustworthy relationship over the telephone, there was no comparison. Finance of America Reverse took a life-changing decision and made it palatable. You have to understand exactly what reverse mortgage is and how it works to be comfortable with it because I still tend to expect the other shoe to drop but it has not. This sounds too good to be true but it has made a tremendous difference in my ability to survive. The person and the process really helped me to accept it and trust it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Marlene,

    Thank you for leaving a review with Consumer Affairs and sharing your story with us. We're so happy that our loan officer was able to connect with you and guide you through the reverse mortgage process by answering all of your questions and listening to your needs. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed Sept. 3, 2017

    The agent from the first reverse mortgage place that I picked was very skeptical and had no solutions. I felt like I was somewhat under siege, so I fired her. Then I got this other guy from Finance of America Reverse. He was great, very efficient, patient, professional, and stayed in contact with me. He came off as very genuine and he did an excellent job. I was very impressed and overwhelmed. He gave me what I needed and it didn't take him long. If I had been with him in the first place, I would have done what I was trying to get done done but as a result, I didn’t actually get what I needed to get done in time. I wanted to buy my friend's car. I've known him for 50 years and he ended up with cancer and was dying, so the car was very personal for me.

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    Finance of America Reverse
    Response from Finance of America Reverse

    William,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that your loan officer was efficient, patient, professional and communicated with you during the whole process. If you ever have any questions don't hesitate to contact your loan officer.

    - FAR

    Verified purchase
    Staff

    Reviewed Sept. 2, 2017

    I went online and looked at various reverse mortgage companies and Finance of America had a better rating so I chose them. I would give them a grade of A, because of their rep at their Indiana office was superior and wonderful. During my initial application, I said that I’m only going to use Finance of America if the loan can be completed by a certain day since I had a deadline to meet. I had some problems with my application due to a recent move to Florida and my bank account records were in Ohio. Nicole cut through the red tape and personally got the records that I needed more quickly than I could. That was extraordinary and I couldn’t be more pleased. At the conclusion, I wrote her a personal thank you note. And, I would recommend Finance of America to anybody who was considering a reverse mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you would rate our services with an A. We're glad that Nicole was able to cut through the red tape and that you are pleased. Thank you for choosing to work with Finance of America Reverse and your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Sept. 1, 2017

    I was looking for a reverse mortgage and I went through the ads. Once you put down one on the internet, everybody comes out and they’re still coming. I got the numbers and everything from different finance companies from different organizations and I could tell when they weren’t really concerned about me. I was a voice on the phone and they were gonna slam me with some numbers and told me to go for it. The next line was, “If you don’t like that, we can change it.” I didn't need to do this kind of business. But Finance of America was honest and the agent was very concerned about what was happening. I liked the follow-up and the communications.

    I was very pleased with the way they were handling things and the way they went about it. They always kept me well informed. They answered my questions, took my concerns to heart and were able to satisfy my needs. My experience was a lot smoother than the others. AIG was one of the worst ones. I almost felt like it was a boiler room operation. Finance of America, on the other hand, was more than just concerned with them getting the financing. I would definitely recommend them to a friend.

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    Finance of America Reverse
    Response from Finance of America Reverse

    John,

    Thank you for taking the time to leave a review with Consumer Affairs. We're very happy that you were pleased with the way our team handled things and always kept you well informed during the process. We appreciate the opportunity to serve you and your recommendation of our services.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Sept. 1, 2017

    Honesty is important to me so I told Finance of America Reverse that if I never catch them in a lie, we’ll do business. Otherwise, I would come after them. And when I spoke to Joe, he didn’t lie. Everything he told me that would happen, happened. Others would say they can save you money if you use them but I don’t believe that. Even if I did, I'd still use Joe because I trust him. He gave me whatever I was entitled to, there are no secrets and whatever he told me that was on that closing thing, that’s what it was. I loved that guy and I'm very happy with Finance of America Reverse. Everything is going perfectly and I would recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Mr. Brown,

    Thank you for taking the time to leave a review with Consumer Affairs. We happy that we were able to earn your business with our honesty and trust. It's great to hear that you and Joe connected and you are happy with the service from Finance of America Reverse. Thank you for your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 31, 2017

    When I went on the internet and looked for anybody that was doing reverse mortgages for my father, Finance of America Reverse responded and I understood them better. The people got back to me in a timely fashion, they were willing to work with me and I can email them easily. The loan officer was amazing. He was very helpful, extremely knowledgeable and tried very hard to help us. We live in a different state and he was very communicative. They made it an easy process. Plus, their guidance was very good and I was very happy with the outcome. Everybody was honest and to the point. They can explain a lot of information to us when the appraisal did not come back as we thought. They were able to explain to us and there was a lot of reassurance behind what they were saying. It was an excellent and a very positive experience, one that I can understand easily with things that are outside of my realm of knowledge. They did a good job.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Beverly,

    Thank you for leaving a review with Consumer Affairs. We're so happy that we were able to help you and your family through the reverse mortgage process. It's great that the guidance was very good and that it was a positive experience working with our company.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 30, 2017

    I have a very good experience with Finance of America Reverse. We thought that it would be a good thing to have because of retirement. They were not pushy and very helpful. I like their customer service. They explained everything and they address any questions I had. We've pretty much knew what we were doing but their guidance was still helpful. They made a few suggestions that we thought were good. I would recommend them to anyone that's considering it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Sheila,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that you considered a reverse mortgage as part of your retirement plan and that you chose us to help you through the process. It's great that everything was addressed and questions were helpful. Thank you for choosing to work with Finance of America Reverse and your recommendation of our services.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 29, 2017

    I saw reverse mortgage as a way to get rid of our mortgage payment and it would make our financial situation a lot easier. I went online, put in several inquiries and Finance of America Reverse was one of them. They were on top of things and some of the other companies were from out of state, East Coast. So, I thought I’d keep it closer to home and I felt better about that. The loan officer was helpful. There were some things I didn’t understand and he coached me on how to fill out forms and deal with different situations. He helped me understand the process. I was given good guidance when I was deciding on the reverse mortgage. There was enough detail and they didn’t gloss over anything. I could also ask any question I wanted.

    They did an inspection on the house and they withheld some money until things got repaired. I have this 40-year old shed and the door was in bad shape. But they made a big deal out of it. I could have torn the thing down and it seemed a little out of line. I had some other issues where I had fixed some leaks and did some drywall work. I understand that. But that old shed didn’t make sense. Nevertheless, they didn’t let things drag out, they got it done and I appreciated that. I would recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Daniel,

    Thank you for leaving a review on Consumer Affairs. We're happy to hear that you received good guidance from our team and that they were able to walk you through the reverse mortgage process.Thank you for allowing us the opportunity to serve you and the recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 28, 2017

    Having a reverse mortgage was something we wanted to figure out for our retirement plan. The company that we originally had stopped giving out any reverse mortgages and they referred Finance of America Reverse to us so we tried them. The loan officer was excellent. He called back if we had questions and he handled every aspect of the loan in a proper way. We have received excellent guidance from them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Rosemary,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that you chose a reverse mortgage to be apart of your retirement plan. We're glad that our loan officer was excellent and handled everything to your standards. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 28, 2017

    I have Social Security coming so I had to use reverse mortgage just as a back-up in case I need additional money because I don’t want to go broke. I started out with Lakeland Bank, but we couldn’t get things straightened out. So, I spoke with Jason from Finance of America Reverse and he solved a lot of problem for me. He followed up on everything and it was a great interaction. We had discussed options over the phone and they came here and went over it. Everything went smoothly because they were knowledgeable in what we had to have and on any questions we had. Everything went smoothly when I went to close. However, I didn’t like the idea of being charged for monthly statements. That’s going to add up to a lot of money. Nevertheless, I was pleased with everything and the way they handled it. I’m very satisfied with what we got.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Edward,

    Thank you for leaving a review with Consumer Affairs. We're happy to hear that Jason was able to solve some issues and walk you through the reverse mortgage process. Thank you for the opportunity to serve you. If you ever have any questions, don't hesitate to contact your loan officer.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 27, 2017

    I have no complaints whatsoever with Finance of America Reverse. I worked with Chris and he was great. We started talking on the phone and he was just good to talk to. He answered all my questions on how reverse mortgage works and he didn't put any pressure on me whatsoever to do it. I told him what I needed and he took care of that. They have set up everything for me and it was so easy with them. I have bought a house about 40 years ago and I've always wanted to remodel the kitchen. I told Chris how much I needed to work with and got more of that. I only took what I needed and I've got more available if I needed it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Fred,

    Thank you for leaving a review with Consumer Affairs. We're so happy that Chris was able to answer all of your questions and listen to what you needed. I'm glad that the reverse mortgage process was easy for you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 27, 2017

    Finance of America Reverse was referred by an investment adviser. Everything was good in terms of cost and then having been referred made me feel comfortable. They were all excellent, every single one. The loan officer was great and had a lot of patience with me. It took me a long time to decide that reverse mortgage was the right thing to do and he didn’t pressure me. I decided on it because of the income it creates. It was a very good experience and I’m glad I used their services.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Debra,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that you were referred to our services. We're happy that you were pleased with your loan officer and that you had a good experience with our company. Thank you for allowing Finance of America Reverse the opportunity to serve you.

    - FAR

    Verified purchase
    StaffRates

    Reviewed Aug. 26, 2017

    I still owe $300,000 on my house and the interest rates and the payments were going up and up. I couldn’t afford to stay at my house and a reverse mortgage looked like it's the only way to save my house. I decided to go with Finance of America Reverse since they were close-by. I was able to talk to Carol, their representative in San Diego to start working and I knew I can do the process. We had some problems at first then we got it all ironed up. I had to wait six months to retry and it all worked out good. Carol was knowledgeable, very friendly and helpful. I liked her. The guidance I received was fine as well. I'm very happy with it. It was a wonderful experience with Finance of America Reverse and I have recommended them to a couple of friends.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Howard,

    Thank you for leaving a review with Consumer Affairs. It's great to hear that Carol was able to answer all of your questions and was very helpful. We're happy that you had a wonderful experience working with us. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 26, 2017

    I'm 71 and I looked to take equity out of the home that I bought. I have $300,000 or $400,000 equity in the house but my loan ratio was 45% so I couldn’t get a home equity loan. I have one daughter to leave the house to so I decided it's time for me to start enjoying my life and got a reverse mortgage. The Finance of America Reverse loan officer was incredibly knowledgeable and very customer-oriented. He was very easy to get a hold of and I even had his private cellphone number. The experience was wonderful. The people at Finance of America Reverse were excellent to work with and I'm very pleased with the results.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Wayne,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you had a wonderful experience working with our loan officer. We always strive to be customer oriented, if you ever have any questions regarding your reverse mortgage, don't hesitate to call.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 25, 2017

    There’s a man at our church who has a program on the radio and he tries to connect with various businesses who will give seniors a fair deal. So he connected me with the lady that did give me the first reverse mortgage. I had two reverse mortgages with Finance of America Reverse. The first one would be three years in September, and that went well. The house needed a bunch of updating or improving, and I didn't have the money to do it. So I took out the first reverse mortgage and was able to have new siding put on and new windows put in. I had a new driveway and all of my walks replaced. It looks very nice.

    I just got the second reverse mortgage this spring, and I had a very good experience particularly with this one. Evidently, the banks were all notified of people who have reverse mortgage and the banks who deal with this finance company. So I got a number of calls offering it to me and made me think that if I do that, I can stay in my own home and pay people to take care of me because I'm almost 86 years old. There’s a lot I can do but there's a lot I cannot do too so that's what I decided to do. This gentleman called me and offered to help me with the loan, and so that's what we did.

    I was very pleased with the agents who helped me, and led me through it, and advised me what to do. I tried to contact the first lady. I had talked to her on the phone. I kept talking to her about getting a second one, and she kept putting me off. Then I learned through William, the one who gave me the second one, that she had sold my account to Finance of America so that's why I didn't get any good results back with her.

    I get the regular notices of how everything is, all the details. This gentleman that helped me with the second one, keeps in touch with me from time to time, and checks up on me, and has volunteered to help in any way he could in the future. I have a neighbor who came and talked to me because he was looking to get one. So I told him what I could and I gave him William’s phone number. He called him and talked to him. William called me the next day, and thanked me for referring him, and said they were going to get it set up and running for this neighbor. So that's a good thing.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Virginia,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that a reverse mortgage has helped you make updates to your home. It is great that William was able to help you through the reverse mortgage and make sure that all of your questions were answered. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 25, 2017

    Our children don’t like this house because it's in the middle of nowhere and there are no malls and stores. So we said we might as well enjoy it. When Finance of America Reverse sent the information, I called them back. They answered questions and they were there. They're one of the few that I talked to and they were professional and pleasant. The representative was very knowledgeable. We went through counseling and we said this is what we want to do. We listened, learned and we did it. I would recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Judy,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that your loan officer was able to answer all of your questions in a professional and pleasant manner. We appreciate you choosing to work with Finance of America Reverse and your recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 24, 2017

    I'm retired and I was getting stretched financially. I used to hear about reverse mortgage. I went on the computer and I looked it up. Then people started calling me. Then a lady from Finance of America Reverse called me. She was talking to me and she said, "Well, it's good to hear two different people. You can then just go with one." She was telling me all the different things. I compared what she told me and what the other person told me, I also asked other people what they know about it because I didn’t know anything about reverse mortgage. But after the lady from Finance of America talked to me and see certain things that she told me and I compared with the other company who had called me, I then took all their information and sent it to my son, and he decided on her also. That’s how I ended up taking this company.

    Finance of America Reverse gave me all their explanation step by step. From step 1, how to go about it, what was good about it. Then I come to the realization of what I thought I knew were so completely different than what they knew. I really don’t have any complaints about the person that I spoke to. She was very nice from the beginning and gave me all the information. I had a good experience with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Nicole,

    Thank you for leaving a review with Consumer Affairs. We are so happy that you were able to compare reverse mortgage companies and chose to work with Finance of America Reverse. It is great that you were given all the information you needed through the reverse mortgage process and that you had a good experience with us.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 24, 2017

    We were financially strapped and so we wanted to do a reverse mortgage. We were considering one reverse mortgage company, but they weren't working out too well. So we changed our minds and went with Finance of America Reverse because they seemed to be the most cooperative. My son did all the transaction with them. Also, we've been happy with that decision to go with them except for the dispute over the insurance. They were supposed to pay the insurance and they paid the homeowners, but they didn't pay Windstorm. They evidently thought the homeowners included Windstorm, but it doesn't. Other than that, I'd still recommend Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Val,

    Thank you for leaving a review on Consumer Affairs. We are so happy that you chose to work with Finance of America Reverse and are overall satisfied with your reverse mortgage. We apologize for any misunderstanding. If you ever have any questions about your reverse mortgage, don't hesitate to contact us. Thank you for the opportunity to serve you and your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 23, 2017

    I have a very capable financial adviser who handles my retirement plan and told me what I can, should and should not do. He was always in favor of doing a reverse mortgage and I trust his judgment. It’s a big decision and I was in a position where I had to make sure my wife was comfortable with it. My wife and I went to see that same financial adviser and I asked him to please put her mind at ease about the whole thing which she did very well. I had to wait till the point where age-wise, between myself and my wife and the status of our mortgage, we will qualify. There were certain conditions that had to be met and when we finally met them, we decided to look into it.

    There was something like a quiz on reverse mortgage on an e-mail that I got. Finance of America Reverse got that information and called me. The agent I dealt with, Matt, was a very personable, knowledgeable, friendly guy who called me quite a bit. We ended up almost chatting like friends about all kinds of stuff. It was very low-pressure, casual and pleasant and I liked talking to him. I was always very open and frank with him. I told him he’s a nice guy but at the end of the day it’s not the nice guy I’d buy from and he was very understanding. I Googled them, looked at how they ranked and how they are reviewed and rated and they came out good, which was an important factor.

    I talked to other companies, different agents, and Matt was the nicest. It makes a big difference and he was a big factor when I considered Finance of America Reverse. I talked with his supervisor once because he was not available and that was also very pleasant, no pressure, professional, and knowledgeable. Also, the package they offered happened to be the most appealing I could find. There were certain steps that we had to go through and it went very well. All in all, I would recommend Finance of America Reverse and if somebody asked, I would give Matt’s name and say they should talk to him.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jan,

    Thank you for leaving a review on Consumer Affairs. That is great that you and your financial adviser see the value that a reverse mortgage could possibly provide to people in retirement. We're happy to hear that Matt was able to walk you through the reverse mortgage process and that you had a great rapport with him. Thank you for choosing to work with Finance of America Reverse and your recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 23, 2017

    I thought a reverse mortgage as part of my retirement plan would get me all out of debt and it did. The people who worked with me at Finance of America Reverse were great and now, my finances are in line. I was very happy with their service. The woman that handled this was very nice and understanding of my problem. She was knowledgeable in telling me what to do and she gave me all the information I needed to make the best decision. She also told me exactly what was going down. I had quite a few other people call me but nothing like her.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Thomas,

    Thank you for leaving a review on Consumer Affairs. We are happy to hear that you made a reverse mortgage part of your retirement plan. It is great that your loan officer was able to walk you through the reverse mortgage process and make sure you had all the information needed to make informed decisions. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed Aug. 22, 2017

    I heard about reverse mortgages so I researched on the computer and ran across Finance of America Reverse. I called their number to find some information about how they worked and ended up speaking to one of their reps. I like people who are laid back country folk like myself and the young lady was a lot like me and we got along. She was patient with me, explained how it all works and the process that would have to be undergone. I was happy with the way she explained that I decided to go with them. The guidance was extremely good because they told me I’d have to speak to the government councilor, have an appraiser come out and all the procedures that would be involved.

    Having a reverse was perfect for me. I decided that I wanted some money and I would like for once to be able to go to the casino if I wanted, to buy something I want and to have a little nest egg to do things with. All I was doing was getting the benefit out of the equity I’d built up all these years. The 4.4% interest compounded monthly is gonna add up quickly so I’m looking at it thirty years from now. I understand that the equity will all be eaten up by the interest and there won’t be much left by the time I end up selling the house or dying, but I'll still be able to live in the house the rest of my life, have the house in good condition and have the ability to pay for whatever needs to be done when it happens, which is what’s been going on so far.

    Last month, it was one thing right after another that was about $26,000 worth of stuff. The air conditioner and water heater went out and the garage door broke and fell off. A water leak flooded under the house and I had that pumped out and the water line replaced. I'm retired on an income and I was able to fix all that because I took out a reverse. I've handed everybody I could think of a card to tell them about it because it’s good. It makes me at ease because I have access to the money I would never have had and I was able to do things I couldn’t do before. I always have the guilt for not having something to leave to my kids, but I explained to them what I was doing so they’d be aware and they didn’t have a problem with it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Gary,

    Thank you for leaving a review with Consumer Affairs and sharing your story with us. We're happy that you and your loan officer got along well and she was able to guide you through the whole process. We're glad that you were able to take care of your home and that you have been pleased with our service. Thank you for allowing Finance of America Reverse the opportunity to serve you and your recommendation of our service.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 22, 2017

    I needed extra money in case of emergencies and I had a car that I needed to have some work done. I contemplated about getting a reverse mortgage for quite a long time because there was no risk about the whole thing and my home is already paid off. So I decided to step out in place and hope for the best with Finance of America. They were very kind, helpful and they sent me information. If there was a mistake on the paperwork, they got to it real quick. I used the line of credit because I didn’t want all the money at one time. I just want to use it when I need it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Polly,

    Thank you for leaving a review with Consumer Affairs. We're happy that you found our services helpful and diligent. It's great to hear that you were able to use the reverse mortgage line of credit as a supplement to your retirement plan. We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 21, 2017

    My husband and I had no children and so we figured that we might as well use the money in the house through a reverse mortgage. My loan officer at Finance of America Reverse was very helpful and was available when I needed to call him. The guidance I received was very good and I was kept knowledgeable on whatever he was doing.

    However, we had a problem as I'm in Massachusetts and locally, there was one counselor that we could go to and he was on vacation. Finance of America gave us a list of counselors in the area but none of them were doing counseling anymore. And so, we had to wait for that counselor to come back from vacation. To get an appointment, it took about 5 weeks. Nevertheless, working with Finance of America was very helpful. The lawyers came to the house and it all went smoothly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Maryann,

    Thank you for leaving a review with Consumer Affairs. We're pleased that you found your loan officer very helpful and available through the whole process. We apologize for any inconvenience that occurred during your reverse mortgage. We're happy that overall everything went smoothly.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 21, 2017

    All we had is social security coming in and they don't usually give us very big pay raises there if anything happened. And we needed money for anything. If something happened to either my husband or me, we can't live on social security. We didn't know anything about our mortgage and wanted to see if a reverse mortgage would be something that would benefit us and it definitely sounded like it would. I had gotten a literature from a reverse company that was out in California and I called them. But I wasn't happy with the gentleman that I talked to and I started looking online for reverse mortgages. The gentleman from Finance of America Reverse that answered the phone was very helpful and that's the one that we still are working with today.

    There was a loan officer who called to fill in things that she needed to pull credit reports on and there was also a gentleman who was our representative. He just followed up if we ran into any problems with anything or why are they asking this or they're asking for that. When I mailed paperwork to Finance of America because they had to have the original to change it with the court at the courthouse, they mailed it back to us but it got lost. The loan officer is supposed to be tracking it down and it's not happening. But the representative followed up on each and every problem we had and everything went smoothly. He answered every question and when I got scared and wondered if I was making the right decision, he was always able to calm me right back down. Overall, it was a very pleasurable transaction. I would recommend Finance of America to anybody that is seriously thinking about it because you'll never know what's going to happen.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Carolyn,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that you decided to use a reverse mortgage to supplement your retirement plan. It sounds like you got along well with your loan officer. We're happy he was able to guide you through the reverse mortgage and answer any questions you had.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 20, 2017

    We wanted to have some money to travel with and I couldn't see borrowing it so we decided to go with Finance of America reverse mortgage. We got four kids but they're all already setup for themselves and don't really need much from me so I'm going to spend and they can have whatever is left. Finance of America was great in giving out guidance and we did the seminar where we sat and talk to people on the phone for an hour and a half. Our counselor was nice, awesome, great, and answered everything we had questions about. Then, I don't know what happened between us getting the money and Finance of America sending it out but we didn't get it until three days later. I don't think it had anything to do with the girl I interacted with but it was the finance institution themselves. Still, it was a great experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Edie,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you were able to get all of your questions answered and had a good experience. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 20, 2017

    Everybody at Finance of America Reverse was great and I got the attention. They were very well aware of all the policies and procedures which they went over with me. I was very satisfied and I was able to connect to that to make a decision.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Frank,

    Thank you for leaving a review with Consumer Affairs. We're glad you chose to work with Finance of America Reverse and you received personal attention from your loan officer. It's great to hear that you are satisfied with our services.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 19, 2017

    I received good guidance from Finance of America Reverse. I felt good about dealing with their rep Scott. He was upright and upfront with me. He made me feel extremely comfortable talking with him. He also answered every question that I could possibly have. I’ve recommended Finance of America Reverse to a friend.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ronald,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you received proper guidance from your loan officer. We are happy that he was very upfront and made you feel comfortable during the entire process. Thank you for your recommendation and the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 19, 2017

    We started looking into reverse mortgages several years ago. My wife always thought it was a good idea. We had significant equity in the townhome that we bought three years ago. The maintenance is taken care of by our association so we thought that we don’t care about 30 years or whatever down the road. My children are all well off so we weren’t worried because we thought it would be a good route. My wife saw an advertisement on the internet and we responded.

    The interactions we had with the Finance of America Reverse loan officers were excellent. They answered all questions that we had. They were courteous and able to fit our needs. We had to do some kind of credit counselling and that was also handled professionally and thoroughly. We had a mortgage on the property to be paid off. I instructed the loan officer that I was dealing with not to call for a pay off until a certain date because I was going to pay my next mortgage payment on a certain date. However, he got to pay off the request earlier. The mortgage that we paid off on the settlement sheet was not what it should’ve been but it all worked out at the end because we received the money for that month's mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ten,

    Thank you for taking the time to leave a review with Consumer Affairs. We're glad you decided to use a reverse mortgage as part of your retirement plan. It is great to hear that your questions were answered and that we were able to fit all of your needs. If you ever have any questions, don't hesitate to contact your loan officer. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 18, 2017

    I had an excellent dealing with the Finance of America Reverse loan officers. They also gave me the proper guidance. I would recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Lowell,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you had an excellent experience with your loan officer and that you received the proper guidance. We appreciate your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 18, 2017

    We wanted to free up the equity on our house and use it for other things. We were able to talk with other companies but Finance of America Reverse was friendlier and outgoing with answers and information. They are a genuine company and interested in making sure we understood anything and then helping us. We talk to our loan officer, Robert, mostly over the phone and if he wasn’t available calls were returned often within 20 minutes. Questions were answered.

    We started two years ago and we almost got to the point where we were going to sign the final documents and then we decided that we wanted to think about it for a while. We weren’t real sure and he was very understanding. Nine months later we finally decided we were ready to go ahead and called him. They were very accommodating and we picked up right where we had left it. We are very pleased with how they handled the whole thing. It was a very pleasant experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Stephen,

    Thank you for leaving a review with Consumer Affairs. Happy to hear that Robert was able to answer all of your questions and provide you with the information you needed. we're happy that you took your time making a decision and when the time was right you were able to pick up where you left off. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 17, 2017

    I saw Finance of America online then I started talking to them. They told me all that I needed to do and dealing with the loan officers have been fine.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Garnett,

    Thank you for leaving a review with Consumer Affairs. We are happy that you had all the information you needed from your loan officer and that you are satisfied with our service.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 17, 2017

    We chose a reverse mortgage as part of our retirement plan. It was a necessity. It was the reviews in consumeraffairs.com that convinced me to go with Finance of America Reverse. It has been great with their loan officer and the guidance that we have received from them in making our decision was excellent. They were thorough and they said things along really well. It went smoothly and it has been excellent.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Diane,

    Thank you for leaving a review with Consumer Affairs. Is is great to hear that you chose to make a reverse mortgage part of your retirement plan. We are happy that you were able to use the reviews from peers to make an informed decision and that everything went smoothly and has been excellent. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 16, 2017

    Everything is great with Finance of America Reverse. I decided to get a reverse mortgage because I don’t have a whole lot of retirement fund. I also might quit my job in a year, so I wanted to keep my expenses down. I searched online and came across Finance of America Reverse. I did some negotiating on the origination fees and they eliminated those, so that was very helpful. The rep was very good as well. He was prompt and positive.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you so much for leaving a review with Consumer Affairs. We are happy to hear that you decided to supplement your retirement with a reverse mortgage. It sounds like you had an around pleasant experience with your loan officer and the reverse mortgage process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 16, 2017

    The Finance of America Reverse loan officer was very down-to-earth, kept on things and was very knowledgeable. He called or emailed me when he had to. When I called and asked him a question he took care of it and was very easy to talk to. I had to go to an FHA counselor for guidance and Finance of America Reverse took care of that for me and the rest of that is through their paperwork. They were just excellent. It was a very easy thing to do and I recommended them to someone. A lot of people said it was difficult but they are easy to work with if you got a good company and a good person who’s very knowledgeable. They are overall friendly and cooperative.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Thomas,

    Thank you for leaving a review with Consumer Affairs. We are happy that you had an excellent experience with your loan officer and that everything went smoothly. Thank you for your recommendation of our services. We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 15, 2017

    All the money we have is tied up in our home and we needed to be able to get some cash. We tried a couple of other reverse mortgage companies but they didn’t want to go along with the loan. Then the first lady that we talked to gave me the number for Finance of America Reverse and she told me to try them. Right away, the guy from Finance of America said they would be able to do the reverse mortgage. He was real good, friendly and dependable. Going with them worked for us.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Gerald,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great that you were able to work with one of our loan officers to go through the reverse mortgage process. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 15, 2017

    I chose to have a reverse mortgage as part of my retirement plan because they said I could get more money out of it. The loan officer from Finance of America Reverse called and said I could have more since I got older so I got a little bit more money. I had a direct face-to-face meeting with a lady who went here and she was very polite and very professional. She explained a good bit of the process to me. Their paperwork was really nice and everything's been fine.

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    Finance of America Reverse
    Response from Finance of America Reverse

    James,

    Thank you for leaving a review with Finance of America Reverse. It's great to hear that you chose to have a reverse mortgage as part of your retirement plan. We're happy you found your loan officer polite and professional. If you ever have any questions, don't hesitate to contact your loan officer.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 15, 2017

    There were three of us who owned the home and my brother passed away. There was a financial problem so we made contact with some reverse mortgage companies. I went online and we got a lot of calls. I picked Finance of America Reverse because they were more informative. They’re aggressive in the presentation but in a positive way. We have got through it before, so there’s nothing really new in regards to what we had before but they were good about it. Once we got our communication, we didn’t want to be contacted all the time in which that never happened.

    We expected them to do what they said they were gonna do. However, they didn’t seem to have everything prepared. We were prepared to get everything they needed but little by little, we kept getting calls that, “We need this,” and we got another call later on, “We need this.” They didn’t ask for the things that they should’ve asked for at the offset. It went on for a while but then it stopped. After that, we’re well satisfied with the home package that they received from us. It went smoothly but it could’ve gone better.

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    Verified purchase
    Staff

    Reviewed Aug. 14, 2017

    Brandon, the Finance of America Reverse loan officer, was very nice and helpful. Overall, the guidance I received from Finance of America was all right.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Judith,

    Thank you for leaving a review with Consumer Affairs. We are happy that your experience with your loan officer was helpful and that you are satisfied with your guidance from Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 14, 2017

    My elderly mother is going to need help soon and I wanted to be prepared so I got a reverse mortgage with Finance of America Reverse. The loan officer was very friendly and knowledgeable. He kept in constant contact and if I had any problems he would get with his supervisor and call me back. I was very satisfied with them. They are very helpful and very informative.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Christopher,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you used a reverse mortgage as part of your retirement plan. We're glad that your loan officer was friendly and knowledgeable throughout the whole process. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 13, 2017

    I had some debts and I wasn't ever going to be able to pay it back any other way. I decided on a reverse mortgage with Finance of America Reverse and they called me on the phone 10 minutes after I went on the computer. I had an excellent counselor and the whole thing went very smoothly. They explained everything and that it would take a longer time, but it did not really take very long to do the whole operation. They arrived on time when I had an appointment and they did what they said they were going to do. Everything is going well now. They solved my problems and I was really pleased.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Phyllis,

    Thank you for taking the time to leave a review with Consumer Affairs. We are happy to hear that your process from start to finish went faster than you expected. It is great to know that the process went faster than you expected and that everything is going well now. We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 13, 2017

    After my husband died, I can't afford to stay in our house if I have to make all the payments for the utilities and everything. But, I don’t want to leave my house so I chose a reverse mortgage as part of my retirement plan. I went online and started comparing different places and I picked Finance of America Reverse. I wasn’t as impressed with the other ones that contacted me and Finance of America Reverse's rep whom I talked with was helpful and patient with me. The guidance she gave me was excellent. If she didn't know the answer to my question she would find out for me.

    I was not sure it was going to work for me but we got the ball rolling once she explained everything to me. She was fantastic overall. However, there were some issues with some of the paperwork. There were some differences in some pricing but they were all explained to me and everything worked out fine. The process was very quick and now, I'm payment-free.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barb,

    Thank you for leaving a review with Consumer Affairs. We are happy that your loan officer was helpful and provided you with excellence guidance. We apologize for any inconvenience that happened but it is great to hear that everything worked out fine. If you ever have any questions, don't hesitate to contact us.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 12, 2017

    Finance of America Reverse loan officers were good people to work with. They were honest and when I needed to ask for any information they helped me. All the time I was with them I never had any problems. They helped me pay the bills. Every time I need money I can withdraw funds. Everything went good with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Duane,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that your loan officer was able to answer all of your questions throughout the reverse mortgage process. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 12, 2017

    I went online and Finance of America Reverse was in the top 10 so I decided to go with them. The first person I dealt with was a loan officer, but she went on maternity leave just as we started the whole process. So, I was left hanging. It was about 30 days before they got their act together. The girl on Indiana office tried her best to supervise and pick up the slack but that didn't work well. The appraisal didn’t go over well too. Anything that could've gone wrong, did. It was about a four month ordeal. But there was one guy out of their Indiana office who came being different. He’s Andy and he was helpful.

    In the end, we got what we wanted but it took some pulling. I wanted to try in another company and they were even more screwed up. It worked out with Finance of America Reverse. They were very determined to get me satisfied but the reverse mortgage was a very stressful process. If anybody would ask me about the reverse mortgage, I’d have to tell them to be ready for mass confusion.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Richard,

    Thank you for leaving a review with Consumer Affairs. We are happy that you choose to work with Finance of America Reverse after seeing our consumer ratings. We want to apologize for any stress you experienced during your reverse mortgage process. It is great to hear that in the end everything worked out well. We are very determined to make sure that our customers are satisfied with us and their reverse mortgage. If you ever have any questions regarding your reverse mortgage, don't hesitate to call.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 11, 2017

    My retirement plan would not have helped me as much and I have had two or three reverse mortgages that I'm refinanced. The woman that I talked to at Finance of America Reverse was very knowledgeable, very nice and not pushy. While I was working with her, she was transferred from the West Coast to the East Coast but she carried right on it. But the first person that was sent out to evaluate my house did not do a good job and I was not pleased about that. The value came in much lower than I expected and after reading what they checked off, they missed several things. Other than that, it a very good experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Neita,

    Thank you for taking the time to leave a review with Consumer Affairs. We are happy that your loan officer was very knowledgeable and able to walk you through the whole process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 11, 2017

    I was searching for a reverse mortgage on the internet when I saw Finance of America Reverse. It was a good way to finance my retirement. I own the house, I’m not married, and I don’t have children. It was a good deal. I talked to three or four different lenders. There wasn’t much difference among their offers and when I got down to details, they didn’t vary that much. But my choice had to do with the personality of the people I talked to. Their loan team was very friendly. They called back and remembered the details about the previous conversation. When I had concerns about different aspects of the process, they would take time to explain. They answered all my questions and sent me a lot of information.

    However, the whole process took longer than promised and expected. Their selling points when I started were the speed and when the whole process could be completed. But it was over three months. The main problem was the house audit. We ended up having two assessments. We ran into glitches that took much time, but it was okay. I didn’t blame Finance of America. I genuinely think they did a good job.

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    Finance of America Reverse
    Response from Finance of America Reverse

    James,

    Thank you for taking the time to leave a review with Consumer Affairs. We are so happy that you chose to work with Finance of America Reverse based on your interactions with our loan officers. Sometimes with unexpected roadblocks the process can take longer than anticipated, we apologize for any inconvenience. Thank you for the opportunity to serve you and your kind words about your experience with our team.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 10, 2017

    Doing a reverse mortgage was going to help me out through a rough spot. I answered Finance of America's ad to know more about it and the more I talked to them, the more I realized that it's what I needed to do. Their loan officer was great. She helped me through every step of the way, smoothed over all the rough spots, and if I had any questions, she was right on top of it. Finance of America had gotten me all through my reverse mortgage so it felt like they were holding my hand the whole way. I was very impressed with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    John,

    Thank you for leaving a review with Consumer Affairs. We are so happy to hear that Finance of America Reverse was able to help you. It sounds like you had a great experience with your loan officer through the reverse mortgage process. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 9, 2017

    I'm 63 and disabled. I had a traumatic brain injury, and I broke every bone on my head and hurt my back, so I'm on social security disability. I don’t get a lot of money. I own my home and it is paid for, but I still have to eat and pay electric bills, so I chose reverse mortgage as part of my retirement plan. I hate Finance of America Reverse. I would never do reverse mortgage again. My first husband’s mother went through a reverse mortgage and had it for many years. She had a nasty-looking house. And when I talked to her daughter-in-law, who is my ex-husband’s wife, she said, “Oh yeah, reverse mortgage is great.” I must have got the wrong company.

    I used to talk to David all the time. He would answer my call and I told him I want the payments set up monthly. He also said I can only get two years of payments amounting to $50,000. I think that’s crap because the house was appraised at $105,000 and I had all the decks redone plus I had metal surface put up on my roof. The house next door to me got sold at $139,000 and the house was worse than mine.

    Also, somebody told me that at the closing day, someone would be here with me. But nobody showed except for the lady who did the closing. She didn’t explain things very well too. I had about 500 papers and she said I signed the paper that I would settle for a lump sum, which was not what I wanted. I wanted monthly payments. That never happened and I am truly upset about it. I used to be a special education teacher, so I'm not an uneducated person. But when somebody is going through 500 sheets of paper really quick, I wouldn’t understand because I'm not in banking. I'm totally not happy.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Dawn,

    Thank you for taking the time to express your situation on Consumer Affairs. We are terribly sorry that your experience was not what you expected. Someone will be following up with you soon to discuss your situation and get a better understanding of what happened. We appreciate your patience and are very sorry for any inconvenience.

    - FAR

    Verified purchase
    Staff

    Reviewed Aug. 9, 2017

    I’ve been checking around different places and I got in touch with Finance of America. I wanted to find out what it consists of and what the procedure was. The rep was very nice and I was always able to get a hold of him. But I didn’t figure it would take that long and be all that complicated as far as them making sure everything was legal. I couldn't get over all these papers I had to sign and I was glad when it was over. And then there was a question about my daughter. I put her on my mortgage title so that if I ever needed to go medicate, the house would be in her name and not mine. It’s going to be transferred over to her after five years. Right now, it's not doing me any good. I've been on it for about six months now, but so far, everything's going the way that they told me it would be.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Alice,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy that our loan officer was always available and very nice. The process can be longer than expected, we just want to make sure everything is in order and double checked. It is great to hear that everything is going well and is what you have expected.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 8, 2017

    I chose to get a reverse mortgage because I don’t have any heirs that really matter in my family, so what I have will go to charity. I'm not too worried about the equity of the house and I like the house a lot. I'm 73 and I want to stay in this house as long as I can. Finance of America supposedly took over the company I've got my first mortgage with and I thought that was convenient to do the reverse mortgage with them. They had much of the information already on hand. I also liked the people I talked with there so I decided to go with them. Everybody was nice.

    Monica was my contact and she was very nice and spent a lot of time working with me. I was happy with her. That was one factor that made me decide to go with them. The interaction was very pleasant and she always spent the time needed to get information for me or get to the bottom of anything that I had questions about. The guidance given was fine. I was sure that a reverse is what I need and they had what I needed. I'm pleased so far with the reverse mortgage. Overall, the experience with Finance of America was pleasant, easy and thorough.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Paul,

    Thank you for leaving a review with Consumer Affairs. It is great that you decided to supplement your retirement with a reverse mortgage. We are happy that Monica was able to answer all of your questions and walk you through the reverse mortgage process with ease. We appreciate your choice to work with Finance of America Reverse.

    - FAR

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    Finance of America Reverse Company Information

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