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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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    How do I know I can trust these reviews about Finance of America Reverse?
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 17 Reviews 2175 - 2325
    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 7, 2017

    I got something in the mail about Finance of America and I didn’t have to pay any closing cost with them so I decided to sign up. The loan officer was very nice and he said he wouldn’t sell the contract. But when I got my stuff, it's with somebody that I never heard of. That came off the bat and I'm thinking to myself that wasn’t true. I'm also hoping that they didn’t lie to me about other stuff. I've been with them for about three months so it hasn’t been that long and I'm waiting to see whether I like Finance of America or not.

    I also got different information for different times but those who gave them to me all said they were from Finance of America. Someone wanted to charge to close out when I was present but it's now different. Then somebody told me who will be my brokers and they put the money wherever they want to get it. Some of them were brokering the money and they were using Finance of America as a tool to get my reverse mortgage at a lower price with different names. Finance of America has different companies and I kept dealing with them until I got what I thought was the best deal.

    Also, when the guy who had some paperwork came here, the paperwork was all wrong from what they told me. It was not even a copy of what they sent me through the mail so I didn’t sign it and sent it back until I got where I felt I was more comfortable signing it. When I tried to get this issue straightened out, I called and couldn’t find anybody to help me. I tried calling the guy that I've been dealing with and he said he took off the weekend. I'm retired in sales from 82 security companies and I was always involved with something but I don't ignore the whole thing or not have somebody that the client can contact. Neither did I just put down the phone and tell the client that maybe I'll come back next week and talk him. It was uncalled for what happened with Finance of America. But when I finally I got their attention, the issue was resolved after all the hassles.

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    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 7, 2017

    I did a lot of research and talked to 15 different companies, but I found that a lot of them were dishonest. I took the best ones and evaluated them, and Finance of America was the best option that we had to go with. I read a lot of reviews that they had and everything seemed positive and favorable. Finance of America is a very good company. They’re right on top of everything and they helped us out. We got a reverse mortgage from them and everything went smoothly. So, we’ve been happy with Finance of America, especially with Olivia, the loan officer I worked with and one reason we went with them.

    Olivia was so good and she helped answer questions and made suggestions. She didn’t tell us what to do, but she let us know what was involved and advised us to better think matters through beforehand or we could be in trouble, and if we didn’t know what we were doing, we could end up losing our home. For our situation, the reverse mortgage worked out well. Another fellow sends us reports monthly, but Olivia said that if we have problems, issues or situations that we need help with, she'd be available to help.

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

    Jay,

    Thank you for taking the time to leave a review with Consumer Affairs. We're happy to hear that you did your research on reverse mortgages and came across Finance of America Reverse and Olivia. It is great that she was able to answer all of your questions and advise you through the reverse mortgage process. Always remember that you can reach out to us if you have any questions about your reverse mortgage.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 6, 2017

    I had a previous reverse from Finance of America and got a second recently. My property had gone up in value and they said I can get more. It will be a good idea to do it so I went with them again. Their loan officer was great. I couldn't ask for him to be better. There's one thing that could be corrected though and I haven't contacted them about it. Previously, with my reverse with them when I did the closing, both times I gave a voided check so that when I got a draw, it would go into my account. That's the way it always worked but with this new one, I did the same thing and I've only taken one draw and they sent it through the mail to me in a check as if they didn't have the other one. Where's that check that I voided and that they took? But, overall, working with Finance of America Reverse has been a satisfying experience. The money from the house has helped with the daily expenses.

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

    Julie,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that you had a great experience with your loan officer. We have had your loan officer reach back out to you to help you answer your question. If you have any more questions through the course of your reverse mortgage, don't hesitate to call Finance of America Reverse, we're here for you. It is great that overall it has been a satisfying experience working with our team.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 5, 2017

    Finance of America Reverse was the first lender to answer my questions and their loan officer, Toby, was the first one that I talked to, so I figured that I'd go with them for my reverse mortgage. Toby was very good and he was always there if I needed him. I liked most that he'd always call right back if I called, even if I didn't leave a message and whether he was in the office or not. He answered any question that I needed answering and did very well in guiding me. What I didn't like, was that Finance of America needed to put the appraisal up first instead of waiting until I signed all the papers and they had the appraiser come in, but lenders all do this same thing. Also, the appraiser kept saying that my garage was a shop when it’s not. If she wants to be technical, it's an old house turned into a garage because it has the kitchen sink and the bathtub still in there. Then I had to paint the inside of the place because she called it a shop.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barbara,

    Thank you for leaving a review with Consumer Affairs about your reverse mortgage experience. We're happy to hear that you enjoyed working with Toby and that he was able to answer all of your questions throughout the process. Thank you for allowing Finance of America Reverse the opportunity to serve you. If you ever have any questions about your reverse mortgage in the future, don't hesitate to call.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed Aug. 4, 2017

    When we had the recession, we had our own business but we lost it and most of our retirement money. Our finances got really bad. We were talking to our attorney and he found Finance of America Reverse for us. Jason, the loan officer was absolutely fabulous. He wanted the information and we got it for him. He was very helpful, explained everything and constantly called to ask us how it was going. Everything was perfect and I will recommend him to anybody.

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

    Karin,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that your attorney connected you with Finance of America Reverse. We are happy that you are so satisfied with your loan officer and the information and guidance we was able to provide you. We appreciate your recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed Aug. 3, 2017

    My wife passed away in December last year. I lost one income when I'm used to two and my retirement and resources in social security were not that much so the reverse mortgage was something to help me each month. One company called me about doing it with them and they told me that if they couldn’t complete the process in 40 to 60 days, they’d give me $500. I told Finance of America about that offer and their guy said that that company couldn’t do it in that period and that I should go with Finance of America instead. He also told me that they can do it in 60 to 90 days and I wanted to go their route because they’re in Texas and closer to home.

    The loan officer that I worked with was upfront and very thorough. It was a learning program for me but he was great to me starting into it. But the house was priced for 241,000 and I didn’t get any equity. I owed 100,000 so there’s 140,000 that’s floating around. The way I look in it is not the way they look in it but they were happy to get the house. The timeframe was also aggravating because they kept saying to give them another two or three weeks and that it’ll be the last step, but there’s always one more and the whole process took nearly a year to get to go through. I thought we’re going to settle out in January. I had a funeral I had to pay for and I thought the reverse mortgage will kick in and free up some money. But on January, February and March, it didn't happen. Then on April, we got it in the end of the line.

    The first appraisal went so long and I had to pay for another portion of the appraisal so that was not a good situation. I also had to get my certificate twice and that’s 125 dollars each. I told them that I thought they were there to help me save money but they’re costing me more money than what they’re saving me. I questioned their professionalism a little bit and the length of time it took to complete the process. But once we finally got everything lined out and the papers signed, I finally realized the reverse mortgage was a true deal. So it made me feel better and right now, it’s helped.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Wesley,

    Thank you for taking the time to leave a review with Consumer Affairs. We are so sorry to hear that your reverse mortgage was a longer process than expected. We strive to be upfront and thorough with the application process to protect all parties involved. Once again we are sorry for the delay but happy that you are satisfied with your reverse mortgage from Finance of America Reverse. If you ever have any questions regarding your reverse mortgage, don't hesitate to call.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed Aug. 2, 2017

    Finance of America Reverse was the only one that called me back and they were very helpful. The loan officer was also very friendly and nice. I'm very satisfied.

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

    Linda,

    Thank you for taking the time to leave a review with Consumer Affairs. It is wonderful to hear that we were able to help you and that your experience with your loan officer was very nice.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 31, 2017

    I had a very good experience working with Mr. Robert ** and his company. He could always take the time to answer all my questions and concerns. It in all was a very smooth process from start to finish. I would recommend using Finance America Reverse to anyone. I would also recommend contacting Robert ** for your finance needs, you will find he is a dedicated specialist and works hard to please!

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

    Ronald,

    Thank you for leaving a review with Consumer Affairs. We are pleased to hear that Robert was able to guide you through the reverse mortgage process and provide you with answers to all of your questions from start to finish. Thank you for the kind words and choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 31, 2017

    I’ve been studying reverse mortgages for 20 years. Many years ago, I was an estate planner. And many times, one of the things I would recommend that my clients or an attorney look into for them was a reverse mortgage, if that’s what best fit their situation. Then when I thought that there was a possibility that one might work out for me, I started following them on an even more depth. And in my research, I came across Finance of America Reverse. The more I researched, the more they came to the top.

    The reverse mortgage allowed me to get twice as much house for the same amount of money down. The steps took months, but the loan officer treated me great. We talked about what my ideas and plans were and their thoughts on my plan. I had to talk to a counselor, and every step of the way they were right there with me, helping me with whatever steps we took. It was like a little kid going to kindergarten and somebody was walking through and holding their hand. And up to this point, everything they said they would do, they have done.

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

    Rick,

    Thank you for leaving a review with Consumer Affairs. There are many situations where reverse mortgages can be utilized and it is great that we were able to help your situation. We are happy to have been there for you to answer all of your questions and walk you through the reverse mortgage process. We appreciate you choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 30, 2017

    My brother and I went through several companies on the internet and Finance of America was possibly the best one. We talked to a couple of other people first but we were not happy with them. Our interaction with Marina, the loan officer, was the most wonderful one. Anytime I asked a question of any kind, she answered it and went into it with me over and over if needed. She was extremely helpful and very patient. They did a very good job with discussing my options with me. I was pleased. It was the best experience I could possibly have, especially with Marina. She went out of her way to help me and Finance of America couldn’t have been any better. They were perfect.

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

    Elizabeth,

    Thank you for leaving a review on Consumer Affairs. It is great to hear that your interactions with Marina were wonderful. We are happy that she was able to answer all of your questions and explain the entire reverse mortgage process. We strive to go out of our way for our customers. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 29, 2017

    I wanted a reverse mortgage so I would be mortgage-free. I wouldn't have to make payments and I could use that money for something else. The loan officer from Finance of America Reverse was very knowledgeable, courteous, and made it sound like it was what I wanted. We did everything over the phone and by e-mail, and everything went very smoothly. No one twisted my arm and it was exactly what I wanted.

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

    James,

    Thank you for leaving a review on Consumer Affairs. We're happy to hear that your loan officer was able to provide you with all the information that you needed and walk you through the reverse mortgage process. It is great to hear that a reverse mortgage from Finance of America Reverse was exactly what you wanted. Thank you for leaving a review and sharing your story with us.

    - FAR

    Verified purchase
    Staff

    Reviewed July 28, 2017

    With my age, I thought it was time for me to get a reverse mortgage. I went with Finance of America Reverse as they had the best rating. The loan officer I spoke with was good at explaining and he wasn’t pushy. He was also very clear on discussing my options. Overall, I was 100% happy with them.

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

    Paul,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that your loan officer was able to explain all of the benefits in a clean manner. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 27, 2017

    I was looking at different options and reverse mortgage was one of the viable options so I thought I would take a look at it. Finance of America Reverse contacted me and the mortgage officer that I dealt with knew what he was talking about. The people there were very pleasant, helpful and they weren’t aggressive as far as trying to force me into anything. They were there to answer my questions and I appreciated that. The guidance they provided was very thorough as well.

    Thanks for your vote!
    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 you were able to find the guidance you needed from our loan officer. We strive to be there for you and help you understand our product and if it is right for you. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 26, 2017

    Thanks to you Monica for your great help! You did a great job "bird dogging" this loan! Being a rural gal, living between No Business Mountain {too many rattlesnakes) and Bull Mountain {Blue Ridge Mountain} I am not skilled in these issues. I really felt comfortable with your guidance. Thanks again!

    Thanks for your vote!
    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 Monica was able to provide you with help throughout the reverse mortgage process. We appreciate your kind words and thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase

    Reviewed July 26, 2017

    I paid the house and I might as well get some money out of it so I signed up for a reverse mortgage at Finance of America Reverse. I talked with their reps and we went through the procedures and what they do. They're a little slow to settle but I got very good guidance from them.

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

    Thomas,

    Thank you for taking the time to leave a review on Consumer Affairs. We are excited that you decided to utilize your existing equity in you home. Sometimes things don't move as fast as we would all like but we appreciate your patience with our team. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 25, 2017

    I wanted the reverse mortgage for security reasons. It took a long time to decide I was going to do it and the loan officer from Finance of America Reverse was good to me. She helped me through it, talked to me and when I had questions I'd call her up. I've been paying the interest on my mortgage and on the first payment I even paid some of the principal. Everything's been fine so far and I’d recommend them to a friend.

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

    Alan,

    Thank you for taking the time to leave a review with Consumer Affairs. We are happy to hear that our loan officer was able to guide you through the reverse mortgage process and answer all of your questions about the product. We appreciate your recommendation of our services.

    - FAR

    Verified purchase

    Reviewed July 24, 2017

    Finance of America Reverse was good about explaining and setting up everything. They seemed to know what they’re doing and they follow up and keep in contact. Everything that we went through was handled well and efficiently and it went a lot quicker than I thought it would. They discussed all the options. And I decided that reverse mortgage was the best plan to go especially that we only wanted to get some money and I didn’t want to take a loan. I was very satisfied and I would highly recommend Finance of America for anyone who wants to deal with a reverse mortgage or anything of that nature.

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

    Larry,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear you were pleased with our service and that our staff was reliable and efficient. Thank you for the opportunity to serve you and the recommendation of our services.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed July 23, 2017

    I did a lot of reading on reverse mortgages and I know what it was capable of doing for us removing the mortgage payments and allowing us to, over time, use the equity versus selling and moving into something smaller. I was extremely pleased with my dealings with the officer from Finance of America. I wound up dealing with three different companies and we narrowed it down all the way to making a decision. 50% of my decision was based on his dealing with me and his attitude and the other 50% was based on the rates and the numbers that came about. He was open, sat patiently and fully explained what was going on. It was a very good experience.

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

    Ronald,

    Thank you for taking the time to leave a review on Consumer Affairs. It is great to hear that the benefits of a reverse mortgage were appealing to your situation. We are ecstatic to hear that your experience with your loan officer and rates were the driving factors behind a reverse mortgage. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 21, 2017

    I was trying to generate money for my business. I went online and LendingTree popped up. I filled it out to see how much I could qualify for, and within 45 minutes of doing that, Finance of America Reverse called. The rep explained to me that LendingTree was a portal. He also said that I would be getting a bunch of other calls and all these other people will come to me for the loans and they would add their fees. One of them picked a town near here and had a southern accent and talked up a storm. Then at the very end, she said I didn't qualify. So I ended up calling the rep from Finance of America and we proceeded from there.

    The rep was knowledgeable, friendly and helpful. But I wish there could have been a little more done because one of the other companies was promising that I would get $30,000 this year then another $30,000 next year. With Finance of America, they gave me only $5,000 which I wasn't happy with. But at that time, I needed that and the rep was the only one willing to talk. I put my business up for sale and once that's all set and done, I will be paying off the reverse mortgage. But I'm happy with my experience with Finance of America overall.

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

    Charles,

    Thank you for taking the time to leave a review with Consumer Affairs. We strive to have well trained and knowledgeable staff to work with you to make sure that you qualify for the FHA insured loan. We are happy that your experience with your loan officer was friendly and helpful through the whole process. If you have any questions about your reverse mortgage, don't hesitate to call your reverse mortgage specialist.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 20, 2017

    My investor that I work with suggested getting a reverse mortgage. We had been checking around and have taken the course on reverse mortgages. The other companies were hemming and hawing about the price. One of them even said that they'll beat whatever price that I got which was not fair. But, Finance of America Reverse gave me a good price right off the bat. They felt like a good company to go with. Dealing with their loan officer has been pleasant. We asked for certain things and we got the information that we needed. They are straight to the point and easy to deal with.

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

    Thomas,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you choose to do a reverse mortgage and that you were able to learn so much about the product. We appreciate your choice to work with Finance of America Reverse. If you ever have any questions about your reverse mortgage, don't hesitate to contact your loan officer.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 17, 2017

    I’ve lived here a long time. I’m single and I don't have any family. I don’t have a wife and children. With the reverse mortgage, I’ll have extra money and I can do things that I want to do and take care of myself a little better because I have some health issues and medication can be expensive. I read things over and decided to do it.

    Linda, who helped me out with this got me through it quickly. She listened, explained things and went through the other things that I had to go through such as the counseling, even when it was time to close. She was friendly and nice. When I was first thought about it, I called her and we talked. I wanted to do more investigation and reading so I told her that we’ll get back together this Fall. Fall came and she called but I pushed it back till after Christmas, by which time I was ready to talk about it. She wasn’t pushy. I had a very good experience with Finance of America Reverse. I’ve recommended it to a couple of other friends.

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

    Raymond,

    Thank you for leaving a review on Consumer Affairs. We are so happy that Linda was able to move quickly and take the time listen to your situation and answer your questions. It is great to hear that you had a good experience working with Linda and Finance of America Reverse and that you have recommended us to your friends.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 16, 2017

    Social Security doesn't go anywhere and I was continually going behind and so I started looking into reverse mortgages. I started with another company but Finance of America jumped in there and helped me so much more than the other people were doing. They answered all of our questions, sent us copies of whatever they were doing and walked us through the process. It was during the winter time and they worked on it for three months before we had it done. It was their office in San Diego that contacted me. and they didn’t let grass grow under their feet. They were Johnny on the spot and they helped us every way they could and I really appreciated them. Overall, our experience has been great.

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

    John,

    Thank you for leaving a review with Consumer Affairs. We are happy that we were able to help you and answer all of your questions about the product. Thank you for the kind words and choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 15, 2017

    I had debts that I wanted to pay off and I needed to paint my house. I heard a couple of my friends had a reverse mortgage and I liked what I heard even though I was a nervous wreck about it for some reason. According to the Better Business Bureau, Finance of America Reverse was one of the top five. When I called them, I immediately felt relaxed and comfortable with Toby, the young man who helped me. He answered my questions and he was very careful to try and address all issues that I was concerned about. I also talked to four others and I felt very comfortable with the company over the others.

    I was surprised he advised against taking the whole amount that you could have for the first year. He said, "Of course, it's up to you. But why would you want to do that?" A couple of other companies were pushing and talking about the full amount for the first year. So, I felt very comfortable that I was being guided properly. From start to finish, they were Johnny-on-the-spot filling me in what to expect which is important to know and in calming my brain. I expressed that I was a nervous wreck about it and he said it was rightly so since this was a big step. They're professional from A to Z and they met the demand. I would definitely recommend them.

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

    Suzanne,

    Thank you for leaving a review on Consumer Affairs. We are happy to hear that your entire experience was pleasant and that Toby was able to be Johnny-on-the-spot with everything you needed from answering your questions to guiding you through the reverse mortgage process. Thank you for allowing us the opportunity to serve you and your recommendation of our services.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 15, 2017

    Finance of America were fantastic. I am very pleased with the way everything turned out. I had checked out five other companies also but Finance of America kept calling me to see if I was still interested and I kept putting it off while I was looking through these others. And then finally, I said "That's it" when they called again. We then started with everything. And if it wasn't for them, there were things that I needed to have done that was supposed to be done after my mom had passed was never done by the lawyer. And if I had tried to sell this house, I wouldn't have been able to.

    I'm by myself. I don't have anything but my social security. And so, what I've done is I don't get everything. I don't take so much every month. Finance of America takes care of my taxes for me and my home insurance goes through them. I chose them because when I got all this stuff and I was reading it, I could see the difference in what they were saying in their paperwork rather than these others that didn't make any sense to me.

    The loan officer was wonderful. He was so good to me, asks me if I have any question and even gave me his personal cell number to call him. They were really fantastic. If it wasn't for them helping me, being honest and letting me know that if I wanted to pay some money back, say if I won the lottery, I could. I don't have to but I can. They just went step-by-step with me. There was one here in town who sent me the paperwork, but never calls me back. And I'm like, "Well, he's supposed to do a reverse mortgage, now you send the paperwork out, you need to follow up." He never followed up once with me. So his paper went out in the trash.

    It comforts me that if something happens to me, Patty, my goddaughter and to whom this house will go, will be given one year to decide what she wants to do, whether she wants to keep it or not. Most places will give you one month. And if she's 62, she would be able to do a reverse mortgage on the money that I have taken out. I was also told a lot of times it went with mortgages, they sell them to somebody else. Finance of America doesn't. Ten years down the line, if I have a question I can call them and they could pull up my file. My paperwork is still there 20 years down the line. My paperwork is still with them and they will not sell it. I've been so happy with them and I would recommend them wholeheartedly. They were the best I could ever have asked for.

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

    Patricia,

    Thank you for taking the time to leave a review with Consumer Affairs and sharing your kind words about our service. We are so happy that we were able to answer all of your questions and help you through the reverse mortgage process. Don't hesitate to reach out to your loan officer or any member of the Finance of America Reverse team if you have any questions or concerns about your reverse mortgage. Thank you for allowing us the opportunity to serve you and for your recommendation.

    - FAR

    Verified purchase
    Staff

    Reviewed July 14, 2017

    We had $30,000 in back-property-taxes, so we had to do a reverse mortgage. Also, my 95-year-old mother lived here her whole life and she wants to do everything possible to die in this house. Finance of America Reverse got a lot of good reviews and they seemed to be the best choice. It was a little tough along the way cause of a lot of things to figure out and understand. But, the loan officer walked me through most of it. Also, I've had a few thousand questions and he answered all of them for me and explained the things that I didn't understand. There were a few hiccups but I expected that.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Frederick,

    Thank you for taking the time to leave a review with Consumer Affairs. We are pleased to hear that your loan officer was able to answer all of your questions around the reverse mortgage process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase

    Reviewed July 13, 2017

    My Reverse Mortgage closed yesterday after 13 months of processing. FAR was always right on top of everything and had to assist me getting current documentation and information from my homeowner's association. If you really want a Reverse Mortgage make sure in advance that your homeowner's association has current and accurate documentation that FHA/HUD needs to process and approve your application.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Vicki,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that your loan officer was able to help you through the reverse mortgage process. Collecting all of the documentation is no easy task sometimes but allows all parties to be safe in the transaction. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Loan Process

    Reviewed July 13, 2017

    I was with another lender before. And when I wanted to increase my reverse mortgage amount, they referred me to Finance of America Reverse. I went back and forth for a long time dealing with the loan officer because it was a super jumbo loan. But I am satisfied with my experience with them.

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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 are happy to hear that you were able to serve you through our reverse mortgage process.

    - FAR

    Verified purchase
    Staff

    Reviewed July 13, 2017

    My mother was running out of money and she needed care, and the reverse mortgage was the only option. Then my brother set it up and we ended up with Finance of America Reverse. It really made a huge difference in my mother's life. The loan officer was a real nice young lady. She’s very helpful, friendly, and we really enjoyed her. We've done the reverse mortgage three times now. It was easy overall.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Marsha,

    Thank you for leaving a review with Consumer Affairs. We are pleased to hear that we have been able to make an impact in your mother's life with a reverse mortgage. We appreciate the opportunity to serve you and your family.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 12, 2017

    I'm disabled and on a fixed income, and I couldn't afford to keep paying the mortgage and the bills. This is the second time I've gotten a reverse mortgage and this way, I'm able to live. Initially, I filled up something online and the next thing I knew, the Finance of America rep Julie called me. She’s a wonderful person with a great personality. She was nice and friendly and she told me what I needed to do without overstepping her boundaries. Before that, I had been trying to apply for a VA loan and people called me telling me what they could do for me. I spent almost $2,000 of money I didn’t have to get appraisals done and then all of a sudden they left me hanging. But I never encountered that with Finance of America Reverse. Julie was in touch with me just about everyday. She’d even call me on her way home to check and make sure I was okay. She was one of the best I've ever met over the telephone.

    Anytime something started going awry, Julie was there. I was having a problem getting a mortgage counselor and at first, I told her she probably didn't have time but she said, “I work for you. I got time for it.” On top of that, she was from Philadelphia and she was even calling long distance. She spent two hours with me going over the sheet she sent me and we found a mortgage company that would do it until the reverse mortgage went through. She could have gotten me one where I got several thousand dollars of money, but she didn’t do that. She applied me for a mortgage that's gonna pay my taxes and my insurance. I don’t have to worry about that anymore and that’s the best thing she's ever done for me.

    I don’t want to be a burden to my children and this way I'm not. When I didn't have the $1400 a month from Finance of America, I had a $600 mortgage payment and a $200 bill every month. I also had to have some type of entertainment and my cable and my computer was $150 a month. That doesn't leave much for anything else. I couldn’t even afford to have my vehicle fixed, buy gas or leave home. Since I took the reverse mortgage, I've got my vehicle going. It's in good shape now and I'm able to go see my kids.

    Overall I can't praise Julie and Finance of America Reverse enough. I couldn’t believe how she took my financial situation and turned it around so I'll never be a burden. I know she had other customers and I don’t know how she did it, but she is good at what she does. And Finance of America was just so wonderful. Plus, if I ever want to pay it off so I can own a home tax-free, all I gotta do is call them up and start making payments. This is one of the best things to ever be put out there. I'd recommend Finance of America Reverse to anybody and I would advise everybody over 62 years old to go this route.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you for taking the time to leave a review with Consumer Affairs and sharing your story. It sounds like you and Julie hit it off and she was able to make the process easy for you. We are pleased that you chose to work with Finance of America Reverse and we appreciate your recommendation of our services and of your loan officer.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 11, 2017

    My money was getting a little lower. And I like to be completely independent. And I try to get all of my eggs in one basket. So, of course I don't know what the future holds, but I decided to get a reverse mortgage so that I can plan as well as I can to stay independent. I had a very good experience with Finance of America Reverse. I couldn't have asked for anybody to be more helpful. Their attitude is tremendous. I had talked to their rep prior to June of last year. And I was still turning it over in my head but I was very impressed with the couple of conversations we had. And then I just laid it down for a while. I also talked to some other companies but I was not nearly as impressed as what I was with the Finance of America rep.

    I also spoke with one gentleman from another company two to three times and he was a little pushy. But finally, one day, he said, "Now, just be honest with me. Are you going to do this or not?" I said, "I'll tell you one thing, I'm probably about 95% sure that I'm going to do it but I'm a 100% sure you're not going to do it for me." And that was the last conversation we had.

    But with Finance of America, I like that they're not pushy. Their rep answered my questions in a way like we were sitting at a table just having a conversation. It's very relaxed but also you knew that you could go to the bank pretty much with what he was telling you. From the very beginning, I just felt very comfortable with him. And when I was ready to do it, I found that he had been promoted and there was a young lady that had taken his place. And that gave me a little concern. But after talking with her two or three times, I felt like my concerns were totally unfounded.

    I've sang their praises and everything. Olivia, the girl that took the first rep's position, we laughed a lot on the phone and she said, "I don't think you're 78 years old." And I said, "Well, if you could see me, you would." And she said, "But you got such a good sense of humor." And I said, "I'm going to live 'till I die." But anyhow, she said, "Please let's keep in touch. It doesn't have to be on a business basis but I just want to know that everything is fine with you." And I've gotten two personal cards from her. One I've got first part of this week. Just touching base and telling me how much she had enjoyed our conversations and she thinks about me often.

    So I'm completely satisfied. I think entering into a reverse mortgage was the best thing I could have done. I'm not all that easy to please, but I would recommend Finance of America Reverse to anybody. Any doubts that I might have been entertaining, they get away with those just almost immediately with the answers that they would give me for questions. That comfort I've felt was just a pleasurable experience. At the end of everything, I knew I had made the right decision.

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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 happy that our loan officers were able to talk with you about your needs and how a reverse mortgage can help. We know that a reverse mortgage is not for everyone and that is why we don't try to push it on people - just identify each persons needs and help them do what is best for them. It is great that you and Olivia are keeping in contact and have built a relationship. Feel free to reach out to her if you have any questions or any other member of the Finance of America Reverse team. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 11, 2017

    I live by myself and I'm retired from work. I need a little bit of solution for my financial situation so I did a little research and started with one of the more prominent companies but I really wasn't getting any more from them. I started looking into Reverse Finance of America and the lady, Jamie, I talked to was excellent and very friendly. She took fantastic care of me and my situation that I was trying to get the reverse loan.

    Jamie was knowledgeable and answered every single question I had and sometimes, two or three times over. She would answer immediately or just as soon as she could find the answer. She was extraordinary in the fact that she answered my phone calls even when she was off. She was trying to help me with all she could do and she did an excellent job and very professional. She was very astute, ready to go and wasn't messing around. I talked to Jamie's supervisor one day and told her how good a job Jamie was doing.

    Her guidance in helping make a decision with a reverse mortgage was wonderful. I've lived 36 years in my house and I wanted to make sure everything would be okay with me, first of all, financially in doing this. I wanted all the details, so I could make a decision with some type of knowledge and it worked. I felt really good about doing this and still feeling better that I did it. Overall experience was exceptional. I am totally and completely happy with the reverse mortgage with Jamie, who helped me through this entire procedure.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Michael,

    Thank you for leaving a review on Consumer Affairs. It is great to hear your story and we're so happy that Jamie was able to walk you through the reverse mortgage process and be available whenever you had questions. We are happy that you are satisfied with your service from Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 10, 2017

    I did a lot of research on the internet and Finance of America Reverse was in the top 5 among the companies I Googled. After speaking to different people and making my initial phone call with Finance of America’s rep Ernie, I decided to go with them. Ernie was fantastic, upfront, very professional and knowledgeable. He was truthful and I connected with him.

    Before we made the reverse mortgage decision, we had to set up a class where we had to speak to someone who’s not connected with Finance of America. Ernie gave me the names of some places where I could call and speak to different people to set up for this class to make sure that we found out exactly what was involved in a reverse mortgage and if it was right for us. Afterwards, I got in touch with Ernie. He didn’t try to do a salesman pitch on me. I did more of the talking than he did. He allowed me to make my own decision and he did not try to push something on me. After the whole process was summarized, I know I made the right choice. He was always there when I called. Also, if he didn’t know the answers to the questions I had, he would get back with me in a few minutes and give me answers.

    Sometimes I ran into problems, but Ernie always had the answers. Finance of America has the answers ready in case they're needed. When the bank had a problem with the money being wired, I called Finance of America. Because Ernie was on vacation, his supervisor spoke to me. They were very prompt and they did what they needed to do to make sure that the bank did the procedure. Within less than an hour, my problem was solved. Finance of America was one of the easiest ventures I've had in my life. It was also one of the most prompt procedures that I've ever had with different things that I've had to deal with.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Rose,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that Ernie was professional and able to answer all of your questions in an upfront and knowledgeable manner. We are happy that everything has gone smoothly and that we were able to do everything to make sure you have a great experience.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed July 9, 2017

    We went through several companies to see what they had to offer and we liked the reverse mortgage offer that was given us. We interviewed five companies and we have some knowledge in finance. I mainly wanted to hear what the representatives had to say because I work in that field. The loan offer, Robert of Finance of America Reverse, assured me in the end that I would be happy. He was very professional and knowledgeable. We had the counseling too. I'm very pleased with my decision to go with a reverse mortgage and I called Robert last month to tell him that. We can breathe now.

    I read about how companies took 8 weeks or months before they gave a customer a decision but ours was completed in three weeks. It was very quick. Finance of America Reverse provided the service for everything that we were told could be done and I recommend them to anyone else that was looking for a reverse mortgage. The key thing on that is to have all your paperwork ready in advance and things should go swiftly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Wilma,

    Thank you for leaving a review with Consumer Affairs. We appreciate you choosing to work with Finance of America Reverse and are very happy that your loan officer was able to answer any questions and help you through the reverse mortgage process. It sounds like you were prepared and we're pleased that we were able to serve you and earn your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed July 9, 2017

    I checked the options and looked into one other company and the interest rate was more favorable from Finance of America Reverse. The guidance I received was helpful and the loan officer was very responsive. She kept in touch and was able to answer my questions. It was a very professional experience and I was very pleased. Finance of America Reverse is a good option and a very fulfilling and pleasant experience.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Joseph,

    Thank you for leaving a review on Consumer Affairs. It is great to hear that you found our service helpful and professional and are very pleased with the outcome. If you have any questions about your reverse mortgage please reach out to your loan officer or a member of the Finance of America Reverse team.

    - FAR

    Verified purchase
    Staff

    Reviewed July 8, 2017

    We do not have children and no one to leave the house to. So we decided that we would take care of our retirement plan ourselves through a reverse mortgage and chose Finance of America Reverse because of their rates. Julie, the loan officer, was one peach and adorable. She steered me in the right direction. A lot of the times when I was thinking about doing something, she would say “No. You don’t want to do that and this is why.” It was excellent and she knows it all. She was right on top of things, telling me what's best for me. She was the best help ever. If you want the best service, call Julie.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Janet,

    Thank you for taking the time to leave a review with Consumer Affairs. It sounds like you and Julie hit off immediately. We are so happy to hear that she was so helpful through the whole reverse mortgage process. If you ever have any questions about your reverse mortgage, don't hesitate to reach back out to Julie and the Finance of America Reverse team.

    - FAR

    Verified purchase
    Customer ServiceRates

    Reviewed July 7, 2017

    After we signed the documents, we waited and had to call the county to find out if Finance of America Reverse paid them off. Finance of America Reverse never informed us about anything. The only hint that we got is that they deposited the $2,000 in my checking account. There was no paperwork or follow up at all. It’s like we signed off on the mortgage and then they dropped the ball. They just disappeared and we’ve got a whole bunch of equity that we’re supposed to be collecting interest on that we didn’t use. Not only that, they lied to us on the terms of the loan with a $6,000 difference. For the second top-rated company, I’m really disappointed and I don’t know what to do about it and we’ve got absolutely nothing from them.

    They're frauds and liars, and they're really sick. They told us they were going to withhold $12,000 set aside for tax and insurance. In reality, they took out $13,683.70. Then they sold their company to Celink which we never heard of before and yet they’re the ones sending us statements. We got no idea what they are doing because they didn’t stick to the terms. They were supposed to maintain our mortgage and guaranteed us that they would always hold the papers but then they turned around and sold the whole company.

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    Verified purchase
    Staff

    Reviewed July 6, 2017

    The representative from Finance of America Reverse were professional and knowledgeable. I had a bunch of questions and they answered. They were also very cordial and were strongly service oriented.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ronnie,

    Thank you for leaving a review with Consumer Affairs. We appreciate your kind words regarding our service and your representative from Finance of America Reverse. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 5, 2017

    Being a senior, I wanted to try to get myself financially able to continue on with my life. I went online and applied for different reverse mortgage information. Somehow I got connected to one of the website advertisements to Finance of America Reverse. They got in line and I got in line with them. Their loan officer was very professional. She did a good job and didn’t prod me. It was a process because I wasn’t knowledgeable enough about reverse mortgage.

    We fought through the discomfort into the process that they had to go through dealing with since FHA is involved. She and I became more or less connected in a professional friendship way. I had my own personal concerns and then after I get caught up in a situation of whether I want to go, I’ve got time and energy invested so I have got to try to make it work and she and I have got to try to work together. She also kept me informed and I did the same thing with her as I go through the process.

    Going through the training process helped. Though I've got the loan and it's working for me, I'm not completely satisfied that it was the best investment for me. With the overall FHA process, they low-balled me on the value of my house. It put me in a situation where I was about ready to turn the reverse mortgage off and go ahead and sell my house outright. I made up my mind that I would be willing to stay at this home site, take their loan value, and go with it. I accepted the policies and the terms of what they had to offer and it’s a third party deal with FHA and the lender involved. It worked out.

    Finance of America Reverse gave me guidance to the extent that they could. Once I was qualified and once they felt I was a worthy candidate as far as the lending process is concerned, they wanted to accommodate me to the extent that they process a loan. They did a good job and I would recommend them. I was happy and they were a good lender. The process was not easy, but I didn’t have any negative things happen.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jack,

    Thank you for taking the time to leave a review with Consumer Affairs and sharing your reverse mortgage story with us. It can be a very long process because of the safety rules and guidelines in place to make sure each party is protected. We are so happy to hear that your loan officer was able to develop a relationship with you and guide you through the reverse mortgage process without any major roadblocks. Thank you for choosing to work with Finance of America Reverse and your recommendation or our services.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 4, 2017

    My husband and I didn't want to get a conventional mortgage at our age, we're in our 70's and 80's, and getting a reverse mortgage just seemed like the thing to do. We were afraid we might have a problem trying to sell our house, as we've had it up for sale once and it didn't sell. Finance of America was the first place I went to and I was pleased with the information and the service that they gave me. The loan officer was very personable and knowledgeable, and he made me feel comfortable. If there's anything I would like a little better, it would be that they would send us an update a little more often, as it seems like it's only every couple of months that we get anything. But other than that, the guidance I received from them was exactly what I was looking for. It is a way to get free and clear on everything and not be a burden to our kids.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Marylou,

    Thank you for taking the time to leave a review on Consumer Affairs. Pleased to hear that your loan officer was able to provide you with the information and service that you needed through the process. If you ever have any questions on your reverse mortgage or would like to speak with a licensed reverse mortgage professional, don't hesitate to call.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed July 3, 2017

    My experience with Finance of America was extremely frustrating. Their organization is fragmented. After the loan officer has taken your application, sent it in and told you it's been approved, he turns it over then has no more answers for you at all. He doesn't even know what department sets things up, so I don't know who to call and talk to for questions and answers. The next person you talk to wouldn't even know who your loan officer was. The communication is poor. Many of them work from home, so they'll give you their home phone number, but they're not working from home, they don't answer their phone or it goes to voicemail, so it's difficult to get information. They're all in different cities and don't know each other, but there's no excuse for that these days as there's video conferencing and teleconferencing.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Mary,

    Thank you for taking the time to leave a review on Consumer Affairs and expressing your situation. We are so sorry to hear that your experience was less than satisfactory. Someone 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. Look for a call from us in the near future.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 3, 2017

    My mother had bought this condo but shortly after, she was diagnosed with the beginning stages of Alzheimer’s. So, I sold my place and moved in with her. Unfortunately, she passed away in 2011 and left me the condo. I’m on disability and with that, I can do everything but pay my taxes. And so I decided to go with the reverse mortgage. I put in some information for LendingTree and Mark was the first one to call me. He's the loan officer from Finance of America and he was great. He gave 110% and kept me informed on everything. I wasn’t left in the dark by anything.

    Previously, AIG also got to me and they told me I qualified and I just had to get on the condo board to get recertified for FHA. So I went on to the condo board and kept at them until we were recertified. But then, in October, they told me that I was no longer eligible and that the rules had changed. That was weird, but then I had Finance of America Reverse and I had a great experience with them. They got me in touch with the people I needed for counseling to help me make the best decision for me. And it was also great how they took care of my taxes, my property, and my homeowner’s insurance. Then I paid off my credit cards and now I really don’t have to dip into the money ‘cause I can live off of what I can get from disability.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Susan,

    Thank you for leaving a review on Consumer Affairs and sharing your reverse mortgage story with us. We're happy that Mark was able to assist you through the reverse mortgage and keep you 110% informed on everything. Thank you for allowing Finance of America Reverse the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 2, 2017

    Finance of America came up for us and our reverse loan officer, Robert, was very good. Also, the guidance I've received was fine and everything went smooth.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Pete,

    Thank you for leaving a review on Consumer Affairs. It is great to hear that Robert was very good and that the reverse mortgage process went smoothly. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed July 2, 2017

    It was taking longer for the company I started to get off the ground and get cash flow, and I needed some income. I couldn't get refinancing and I didn't want to take a chance. A reverse mortgage seemed to be the best option and it would eliminate expenditures like the mortgage payment. I went with Finance of America Reverse and their loan officer was very personable and stayed right on top of the process. The guidance I received was very good. The people who were even more helpful and I was pleased with were those who did the counseling. I can still call them if I have any questions.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Nelson,

    Thank you for leaving a review on Consumer Affairs. We are happy to hear that your loan officer was personable and on top of things through the reverse mortgage and that the counseling was a valuable experience for you. If you ever have any questions about your reverse mortgage, don't hesitate to contact your loan officer with them.

    - FAR

    Verified purchase
    Staff

    Reviewed July 1, 2017

    My husband and I liked the idea of not having a monthly payment with a reverse mortgage, then we shopped around and Finance of America Reverse seemed to be the best. Olivia was great and easy to work with. She kept us informed on what was going on. Applying for a reverse mortgage is a little different than applying for a regular one. They wanted to make sure we understood what a reverse mortgage is and we had to go through a little course. It was fine and we're pleased with our decision to do it. We're very happy with Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Barbara,

    Thank you for leaving a review with Consumer Affairs. We are so happy to hear that you had such a great experience with your loan officer and that you are pleased with your decision to go through the reverse mortgage process. Thank you choosing Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffRates

    Reviewed June 30, 2017

    I still work and my son was indirectly telling me that I'm spending too much money. When I left my parents, I paid for their funeral and so I don’t need to leave so much behind for him and decided to do a reverse mortgage. I took a little bit of money out and I’m gonna take more ‘cause I also have an apartment building that needed to be renovated again. I’m also using the money for traveling and all sorts of things. Then if my son wanted to eventually have the mortgage back, he has to pay that once he has the house so there's no big deal.

    At the time, Finance of America Reverse sounded good. The gentleman who I spoke with originally seemed very knowledgeable and I stuck with him. But later on, he forgot things. He was embarrassed himself at times because it was just like, “That’s not what you said. Why is this? Why is that?” But whatever he promised eventually came true, however, he's not involved anymore. The other people who took over were not as knowledgeable.

    I called them up the last time and told them that under the agreement, they would be paying taxes for my house. The lady that I spoke with said that they'll reimburse and that I have to pay it first. It’s my credit, so I took care of it and paid it myself. It was only a couple of weeks later that I got a check back from City Hall and the people there told me that my taxes were already paid by this mortgage company. So I called the mortgage company and asked. It's like one says this and the other one says that and it took them quite some time to tell me. I told them that I don’t want to fall into bad credit because they didn’t pay the interest on time and all the taxes. So, everything was a little bit of a hassle this time. The company surely needed some work. Then I expect the salesperson to follow through until everything is done into details.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Uwe,

    Thank you for taking the time to leave a review on Consumer Affairs. We are sorry about your experience and are going to have someone contact you for further clarification on any issue that you have had. We appreciate your patience in this situation.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 29, 2017

    I had seen the ads on television and I filled out a reverse mortgage quiz online. Then, these people started calling me. Finance of America Reverse wasn't the only one that called me but they seemed to be the one that was most interested in helping me. I was just not sure how much the appraisal was going to be on my house but I did it and I hoped it was enough to pay off our mortgage so I don't have to make house payments anymore. It turned out it was. I only had 10 years left to go on a 15-year note but I was making a big payment every month. Now, it's fine. I'm happy with it.

    The lady that worked with me stayed in touch with me and kept me informed of what was going on. She was upfront about everything and was honest with me. I didn't feel like I was being conned or lied to or anything. Like the appraisal thing, she said how much I have to appraise for in order for that to pay off my house. She told me that if it doesn't appraise for that, I could add some money of my own too and then get out from under that mortgage payment. If it appraises for more than that, then I get that money back. She said that we don't know until they appraise it and she was right. I put up the $250 and the guy came out and appraised it. It took about a week before I heard something back. But, she called me as soon as they got information and said, "Good news! You got it."

    What was really good too was I had to pay for somebody to have a counseling session with me. It took about 45 minutes on the phone. That tells you a lot of the upfront stuff that you know that has to work on this thing. The counseling session was well worth it. Finance of America Reverse's rep said that she'll give me a list and they will charge about $150. I asked what if they charge more but she said that they'll negotiate with them. The first place I called to set up the counseling charged $175. The second place I called was in Tulsa, Oklahoma and the charged me $125. So, she saved me $50 because she told me the price upfront. Otherwise, I would have just went with $175.

    All these other people at some of these other places would contact me and they said, "We're going to do this and this, and this." But, they would never do anything. Everything the rep said happened just like she said it would. She even gave me her phone number and told me to call her if I have any problem. One time, something came up and I called her and she just sat there and explained it to me. I'm really appreciative of them. It's the smartest thing I ever did. I hope anybody I recommended it too would also be treated as well as I was.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Bob,

    Thank you for leaving a review on Consumer Affairs and sharing your reverse mortgage story with us. Glad to hear that everything went according to plan and that your loan officer made such a positive impact on your experience. If you ever have any questions about your reverse mortgage, give us a call. We appreciate your kind words and recommendation of our service to others.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 28, 2017

    Having a reverse mortgage seemed like something I should do and I needed to lower my monthly cash-flow so I went with Finance of America Reverse. The loan officer I dealt with was good and he worked hard. He was very patient and tenacious at some point. I had adequate guidance in discussing my options. So far, so good.

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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 are happy that your loan officer was able to guide you through the reverse mortgage process with ease. It is great to hear that you are pleased with our service. Please reach out with any questions that may arise with your reverse mortgage.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 27, 2017

    The process took approx 3 to 4 weeks to complete. I spoke with William sometimes several times a day; either he would call me or I could call him, but he was always available. When it came to signing time, I found an agent that I could work with and William was able to request that agent whenever necessary. Working with a Realtor is never easy for me but I found that working with William was as nontraumatic as it could be. I never had any qualms on the information I received from him or the answers I received, in other words I trusted him and he never lied or misrepresented any question I put to him. Even after having completing the process, he has called to check up on me and see if I had any problems. If you are looking for someone that will follow up with you, I believe this representative will fill the bill.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you for leaving a review on Consumer Affairs. We are so happy that you and William hit it off so well. Everyone at FAR is trained and go through certifications to become professionals in the reverse mortgage field and all aspects that go with it. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 27, 2017

    My ex-husband and I owned our land together after the divorce. The house is on one part and his big shop was on the other. But, the time came when he wanted to build a house in the back or move in his house and the only way my husband and I could buy him out was to get a reverse mortgage. And later on, my husband died so I've been by myself, and then I got cancer. So I decided to refinance the house so I can pay the medical bills.

    Initially, I talked to some people and then Finance of America Reverse called and asked me if I was aware that someone was running a credit check on me. I told her that it's probably because I was gonna refinance my house. Then she asked if I had considered using them again. At that point, I asked her who she was 'cause I thought it was the same people I had talked to. Then she said, "We're the ones that have your reverse mortgage now." It had actually never even crossed my mind to call them, but in the end, I went with them.

    The loan officer was absolutely wonderful. She explained every detail to me and led me through every single step of the way. Then people started calling, trying to scare me from doing it with Finance of America Reverse. So I called her and she told me what they were telling me was not correct. She then gave me her personal cell phone number and told me to call her anytime I have a question, even if it's on the weekend or at night. She even checked on me when I was sick and that kind of service is completely rare.

    The experience has been extremely helpful. I was worried about having enough money to pay my taxes and my insurance and still have some kind of life. I was in fine shape until I got sick and I’m a retired teacher but I’m too old to go back to school and teach. I was extremely stressed out and they just relieved it all. I highly recommend them. Several of my friends have been considering this and I've advised them to call Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Betty Jo,

    Thank you for taking the time to leave a review and share your story on Consumer Affairs. We are pleased to hear that you chose to work with Finance of America Reverse for a second time and that everything went smoothly. We appreciate your time and recommendation of our services.

    - FAR

    Verified purchase

    Reviewed June 26, 2017

    Financially, I'm on the wall. There were five or six lawyers previously advertised on television. Now, there are like 20, so I'm not taking the kind of money I was taking before. So I've got to pull in my horns and applied for a reverse mortgage. The loan officer from Finance of America that I worked with was fine although I suggest they charge less interest and give more money. I've also recommended them to my brother.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Anthony,

    Thank you for taking the time to leave a review on Consumer Affairs. We are happy that a reverse mortgage is able to supplement your living expenses. Thank you for the opportunity to serve you and your recommendation of our services.

    - FAR

    Verified purchase
    Staff

    Reviewed June 25, 2017

    I did a long-term process with Finance of America Reverse. It came to fruition at an early stage and I was quite pleased. It was long-term because there were many things that had to be done. I had to have the house inspected and they had to take pictures. Then I had to have repairs done and they had to come back and take more pictures. It was quite complicated but I can see their point. Their lovely sales representative made things a lot easier for me. He was cooperative and polite. He also understood that I was a neophyte in this situation and took the time to explain things to me and how they worked. I have deep respect for that man. I would definitely recommend Finance of America Reverse to a friend.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Bettejean,

    Thank you for leaving a review with Consumer Affairs. We are happy that your loan officer was able to guide you and make the long process easier for you. we appreciate your choice to work with Finance of America Reverse and your recommendation of our services to a friend.

    - FAR

    Verified purchase

    Reviewed June 24, 2017

    I’ve got some assets that are not very liquid and the reverse finance was a way to get some living money without having to liquidate those other assets. I used Finance of America Reverse and it went well as I got into the agreement with them. We’ll see if I made the right decision as time goes by.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Frank,

    Thank you for leaving a review on Consumer Affairs. Utilizing a reverse mortgage can be a savvy way of protecting other investments and allowing them to grow. We appreciate your choice to work with Finance of America Reverse and if you have any questions, please reach out to your loan officer.

    - FAR

    StaffLoan Process

    Reviewed June 23, 2017

    My experience with F.A.R. has been nothing short of fantastic. At every level, on any matter, they were most helpful, patient, interested and fonts of knowledge. And, yes, they were fun to interact with. Shannon, my initial contact, was wonderful also in anticipating my questions and information needs. Crystal took over while Shannon was on vacation. Her handling of my situation was absolutely seamless. When I might next chat with a relative or friend I will most definitely recommend F.A.R. and recommend you guys most highly! You made sense of all the complexities involved, for which I am in your debt. Many thanks!

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    Finance of America Reverse
    Response from Finance of America Reverse

    Newel,

    Thank you so much for leaving a review on Consumer Affairs. It sounds like you had an all around great experience working with Shannon and Crystal through the reverse mortgage process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 23, 2017

    I needed some cash and I had a previous reverse mortgage so I did it with Finance of America and it worked out great. The loan officer was great and wonderful. I went to her office to sign papers and she was located in an easy place to find. It was a very good experience. They were very professional and kept in touch with me so I knew what was going on. I’ll tell a friend or family member to look them up or give them the name of the girl that I contacted up in University City or UTC.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Debra,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that everything worked out great during your reverse mortgage process. Thank you for allowing Finance of America Reverse the opportunity to serve you. Your recommendation is appreciated.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 22, 2017

    A reverse mortgage seemed like the best way we could pay off our mortgage and free up a little bit more money to pay other bills. I talked to the person at Finance of America and they were very straight shooters as far as the home value went and were not promising big, big bucks when it eventually would not be available, so we decided to go with them. The loan officer was very good, contacted us all the time, and was always there to answer if there were any problems or any questions. The interaction was very nice and their guidance was very good. They went through all the various options and explained everything and sent paperwork that explained it again. They were cooperative and helpful. I was very comfortable dealing with them and I would definitely recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Cathy,

    Thank you for leaving a review on Consumer Affairs. It is great to hear that a reverse mortgage was able to meet your financial goals. We are also happy to hear that your experience with your loan officer was pleasant and that their guidance was good. We appreciate you choosing to work with Finance of America Reverse and appreciate your recommendation.

    - FAR

    Verified purchase
    Staff

    Reviewed June 21, 2017

    If we ever come in contact with anyone who needs help like we did with a reverse mortgage, we would recommend Jamie in an instant. She was so personable and honest and always available. She was on vacation and we were still able to contact her. What a pleasant lady.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Rudolp,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you had such a great experience with your loan officer and our company. We appreciate your choice to work with Finance of America Reverse and your recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 21, 2017

    I just refinanced my house to a 10-year fixed mortgage. Then all of a sudden, I was laid off from work and couldn’t make the payments to the mortgage, despite me being able to get a full-time job. My payments went from $1,021 to over $2,200. I'm 70 and it's time for me to take a break. Due to this financial situation I'm at, I then thought of doing a reverse mortgage. The reverse loan officer from Finance of America Reverse was very courteous and knowledgeable. The whole experience with her was very easy and my understanding is that, in the first year, I have a $20,000 line of credit then after the year, it goes up $50,000. It was a great experience with Finance of America Reverse. Everything went smooth.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ronald,

    Thank you for leaving a review on Consumer Affairs. It is great to hear that a reverse mortgage can help you meet some of your financial goals and the process went smoothly. We are happy that we were able to provide you with such a great experience.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 20, 2017

    I wanted to do a reverse mortgage for quite a while but my late wife did not let me. When she passed away in January, I was able to do it because there's nobody who will say we can't or we'll get ruined. I had been thinking about it for five weeks then out of the blue a guy named Robert called me so I went with him, followed through and got it done. He did whatever he said he was going to do and call me whenever he said he will. He followed through each and every time. He also had an appraiser that came out to bring all the documents then I filled them out and he took them back.

    However, they sent me a printout of what happened with the previous month then they put a check in and I don’t know why they did that because they told me I couldn’t get any money from it until next year. I got $8,000 upfront when we closed the deal and he said it won't be for another year but they keep sending me these things to fill out and return then send me more money. Other than that, it’s been a great experience so far.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Gary,

    Thank you for leaving a review on Consumer Affairs. It is great that Robert was able to answer all of your questions and guide you through the reverse mortgage process. If you have any questions concerning your reverse mortgage, don't hesitate to reach out to your loan officer.

    - FAR

    Verified purchase
    Customer ServiceStaffRates

    Reviewed June 19, 2017

    I’m single and my family's all dead and I got no one to leave my home to. I’ve got a few antiquities and furniture and my godchildren are getting everything inside but they’re not gonna move up here to Big Bear. So, I’m doing what I want to do. I want all of my bills paid and I don’t want to have debt. I just want to be covered for the rest of my life 'cause I’m 70 now. Things are no longer steady and not as guaranteed for older people as they used to be. And so you really have to look out for yourself. And a reverse mortgage will work right. It’s not a good deal though for somebody who got to take care of their family. They got to leave something to somebody.

    My neighbor went through Finance of America Reverse in her house and she said she was very satisfied. So, I went on that recommendation. I’m getting my results back every month and my neighbor gets hers. She’s been with them for a couple of years. I look at a couple other refinancing companies that some said were better. But I decided to go with a proven product, and I got the money there. It’s guaranteed by the government and everything. I got to sign about 10,000 papers and I'm supposed to read everything, which is impossible. Then I got the stipulations but I’m getting almost what banks gave 40 years ago in interest on my money. I get 5.5% and it’s $70,000. And banks don’t give that now.

    I wish Finance of America had gotten hold of me at certain times on certain things. There was a little communication issue, which was not anything that I couldn’t figure but they lapsed on one thing. I was gonna get so much money in the first year and then I thought I could get more and they said, “You could either get it in payments or you could get it in one lump sum, but then you have to wait a year.” I was a little upset about that. So, they thought they were gonna give it to me in payments at first but it’s only one lump sum. And we miscommunicated on that one. I get everything now through the mail and I wouldn’t mind if they called me once in while and say, “Hey, is this all right?” And explain anything that I might not understand. But I can get that, and so far, I’m pretty satisfied and the money has taken care of a lot of things. One thing I’m looking forward to is if the house goes up a lot more in value, I will be able to borrow on it a little.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Thomas,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that your neighbor had such a great experience working with our company to recommend it to you. We are happy that everything has gone smoothly through your reverse mortgage process with Finance of America Reverse. Thank you for allowing us to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 17, 2017

    Finance of America had more options than the other places we dealt with. They were better equipped to do what we needed and offered the best solution for our situation. We wanted to pay off an existing mortgage because we're getting older and we wanted to stay in the home we're in now by replacing it with a reverse mortgage. We didn't get any money back out of it because the appraisals are always low. But it was a good deal and it worked well. Jason, the fellow I dealt with was good and awesome. He was very resourceful and you didn't have to wait to see what was going to happen. He always had a way to do what he needed. He is the best and I would recommend him to anyone.

    I did something with another company and Jason came upon what I was doing and immediately contacted me. After that, I switched over immediately because he had answers for the questions that other people couldn't answer at all. There were always kinks and glitches with the other companies. Finance of America did things that other companies were unable to do. And the people that I dealt with were better qualified and aware of the things that could be done to set me up.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Anthony,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that Jason was able to help you through the reverse mortgage process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 16, 2017

    We chose a reverse mortgage because we wanted to have a little security with a little more money to be able to spend. With the prices of stuffs going up, it was a cushion. We would not have to worry about whether we're going to be able to pay the bills next month. My husband was the one who chose Finance of America Reverse. I loved the dealings we had with our loan officer. She was very patient with me and it was a good experience all the way around. We were laughing, happy, serious and all the things that you needed to have in a good conversation. Everything went beautifully. We had nice people that we had talked to over the phone and in person. We sat at the kitchen table and yakked and had a good time. They gave us all the information we needed and were very helpful, polite and nice. They did everything they said they would.

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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 sounds like you all had such a great experience with your loan officer throughout the reverse mortgage process! We are so happy to hear that everything was explained and the process went just as expected. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 15, 2017

    I had a financial problem and Finance of America Reverse contacted me and I liked the way they were presenting things so I decided to go with them. Their loan officer was very nice and understandable. She explained to me the process and I agreed. The guidance that they gave me was good and they understood everything. They agreed for the amount and then we got everything when we needed it. It went smoothly and I received the money that I was expecting for the first part. I was disappointed though that the second part was not following the first part and I have to wait almost a year to get the other part. That’s not so nice. However, they were correct beginning through the end and I got what I needed and what I want to. It was perfect.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Danielle,

    Thank you so much for taking the time to leave a review on Consumer Affairs. We are so happy to hear that we were able to help you with your financial problems and that the reverse mortgage process went smoothly. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Loan ProcessRates

    Reviewed June 13, 2017

    We checked the rates with other places and found that Finance of America was the better one. Working with them made things a little easier. We don't make a mortgage payment now. Overall, our experience with them has been satisfactory and we'd recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Don,

    Thank you for leaving a review with Consumer Affairs for Finance of America Reverse. We are so happy that we were able to make the reverse mortgage process easy for you. Thank you for your kind words and recommendation, it is greatly appreciated.

    - FAR

    Verified purchase
    Staff

    Reviewed June 12, 2017

    I have nobody to inherit my house so I chose reverse mortgage. It was also because I didn’t want monthly payments and it would help me out financially. I saw Finance of America Reverse on the internet and from the beginning, I thought it was okay. I liked the loan officer that I worked with. He helped me out and went through everything with me. But the adjuster's a crook and ripped me off. When he came to appraise the house, I told him that I had no furniture here right now except for my bedroom set, TV, table, refrigerator, computer and my cabinet’s full of food. This house and everything in here are new. I just moved in and I'm gonna buy new furniture but he could see I’m living here and he said everything was okay. A couple of weeks later, I got a letter that this house was vacant. I think he does that to everybody so he can come back, recheck the house and get some extra money. When I did the loan, they charged me additional $250. Customers should get their own adjusters. I wouldn’t recommend the company and I would never use them again.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Milton,

    Thank you for leaving a review with Consumer Affairs. We will give you a call to follow up on your concern about your home value. We understand your issue with the process.

    Thanks,

    -FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 11, 2017

    A reverse mortgage availed money so that we could still have the house which is probably why everybody else does. It's also a little source of funds in emergencies and for repairs. I've talked to several other companies, even some locally, but I felt better going with Finance of America. Part of why we chose them is that their reps were very helpful and personable. We talked for hours at a time, and they did not seem to mind answering questions. However, since we didn’t have a fax, we had to email them. The correspondence with the people that actually did the money transactions have been difficult and I felt that ad we had access to a fax, it probably would have been much smoother. But they could have contacted us back when the first pictures that we sent weren't adequate. Instead they waited a week before telling us they needed more pictures. But overall, my experience with them was satisfactory.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Donna,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you found your Reverse Mortgage Specialist able to answer all of your questions and walk you through the process. We are sorry about the delay in the paper work and will continue to try to improve the process. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 10, 2017

    We live on a disability income and we've actually even been drawing on savings and they're not inexhaustible. We needed to get more income coming in. Then we saw that Tom Selleck was advertising Finance of America Reverse and Jerry knew a little bit about what President Reagan had enacted that people could stay in their homes. Their employees were very nice and we passed all the inspections. Plus, they gave us six months to get things up to code and they said, "Paint the top of the deck, paint the deck floor and fix those patched up areas where there has been a sprinkler, warped in."

    However, I'm not exactly sure what they wanted to improve because the top of the deck doesn't have any function. It did when we had Plexiglas to make it a covered deck and I talked to one of the contractors, Scott, and he said it would be better and cost less for him to just take it off. We could just leave an area where we could hang flower baskets. Then our neighbor has been watering their lawn, so the side of the garage that faces their sprinkler has got all the paint faded out.

    We have two more months to go until we get this work done and it should be done. I'm just anxious to get it done right. Now, there's a gentleman on the deck scraping it down, so he can get what they require done. We've also been doing a lawn here and we pruned our bushes and trees. Then he is supposed to spray some dormant spray that will give us good cherries and apples this year. Another contractor has been painting the entire day. Plus, we had two other gentlemen over the other day and we got price quotes from both of them too.

    The reverse mortgage allowed us to stay in our home and I'd recommend it to anybody that's bent to keep their house, although it's difficult. It's only been our first year, but it's a long time and there's always some upkeep. We've put in the carpet and now we need to again. But they're paying $700 a month house payment so we are grateful. I've also tried to call the Builder's Association but I haven't been able to get any answer. If they were able to help us or at least get an opinion on it, I would appreciate it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Rhonda,

    Thank you for leaving a review with Consumer Affairs. We are so happy to hear that we were able to help you through the reverse mortgage process. Thank you for your recommendation. If you have any questions, please don't hesitate to reach out to us.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 9, 2017

    We had so many things that had gone wrong and out of pocket expenses a year ago. We felt like we were drowning so we decided to check into reverse mortgage. I googled it on my phone and Finance of America Reverse came up. I had a good feeling about it. It was like a prayer being answered. We talked to a lady who took our information and then Finance of America Reverse contacted us some time that week. I was hesitant because it sounded too good to be true but it had worked for us.

    The gentleman that took care of us through all of this was very informative anytime I had questions. He even gave us his direct line number. He sent us a package and we read through it and the questions that I had, I’d pick up the phone and call him. He explained everything in detail because he knew I was a little hesitant about it. I was very pleased with the way they handled it and worked with us on this. I still have his number today since he said that we give them a call if we have any questions later on.

    It was some time in December when we started to talk about reverse mortgage and was getting information on it. We had to go for the credit counseling and everything but I told the rep that I don't want to deal with this until after Christmas. The actual process started 1st of the year and we closed in February. He told us the time frame would take about six to eight weeks. I am very happy with my decision to have the reverse mortgage. But it just seems like I get one thing taken care of and then something else unexpectedly happens. My car bit the dust and we ended up buying a car. We drew some money out of the equity part of the reverse mortgage closing and used some of it for the down payment on the car. It has been a blessing.If we haven’t had gone with reverse mortgage, I don’t know what we would have done as far as a vehicle.

    I had talked with a friend about it because she knew we were going through this. I told her, “If you all happen to consider this, let me give you the number to Finance of America Reverse and the gentleman that dealt with us through our process. There is nothing that you could ask that he can’t answer. He was with us this whole way. I’m just very pleased with how this turned out.” Overall, Finance of America Reverse has been wonderful and very helpful. They took a lot of stress away from us.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Pat,

    Thank you for taking the time to leave a review with Consumer Affairs. You have a great story and we are so happy to be apart of it and lift some of your financial burdens. It sounds like you and your loan officer had a great rapport. Thank you for your recommendation and for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Loan Process

    Reviewed June 8, 2017

    I'm a retired realtor and the explanation I got from one of my fellow realtors about reverse mortgage was positive so I opted for it to be part of my retirement plan. I've been very happy with Finance of America Reverse. It has been a very positive experience for me.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Elfriede,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so happy that we were able to help make a reverse mortgage part of your retirement plan and that it has been a positive experience for you.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 8, 2017

    Being with Finance of America Reverse was great. I had to get enough money to do some repairs, to paint my house, and for upkeep. I'm retired and 78 years old and I don't have much income, so getting a reverse mortgage is the only option I had. I searched on the internet and got three deals from three different companies. Kyle, the loan officer, was nice and professional. I would highly recommend her. She talked pleasantly and would answer any question I had. She would also email me when I asked her to. I got all the information I needed from Finance. The only disappointment I had was the appraiser, but it wasn't his fault. I thought my house was worth more than what he appraised it for, but it is what it is.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Billy,

    Thank you for leaving a review with Consumer Affairs. We are so happy that you had a good experience with your loan officer and were able to get all the information and guidance you needed. Sorry to hear that the appraisal didn't turn out like you had anticipated. In accordance with laws and regulations we are not in control of that part of the process. If you ever have any questions, please reach out to your loan officer.

    - FAR

    StaffLoan Process

    Reviewed June 7, 2017

    My husband and I decided to use a reverse mortgage to help us with some financial issues we were having. We chose Finance of America, largely due to the banker that worked with us. It only took us about 3 weeks to come to closing, and our agent, Andrew **, walked us through every step and kept us well informed of the process and where we were at each point. In the beginning stages, Andrew explained the aspects to us very well. We had no hidden surprises and his judgement on the appraisal was almost totally correct.

    Once things began to move, the process was quick and easy. The only real headache was the beginning and closing paperwork. It took about an hour each time to sign and date all the forms. Finance of America is a customer friendly company and I can highly recommend our agent Andrew **. He is patient and caring and wants each customer to be highly satisfied. Above all, he was very patient and did not mind reviewing as much as needed to be sure we understood the whole process. If you are looking for a mortgage, please do consider, Finance of America.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Beverley,

    Thank you so much for taking the time to leave a review on Consumer Affairs. We are so happy that Andrew was able to guide you through the reverse mortgage process. We focus on all of our customers and want them to be highly satisfied like you and your husband are with our product and service. Thank you for your recommendation and your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 7, 2017

    Running low on money and still having good health, I'm not willing to go to the poor house. The presentation from Finance of America Reverse was understandable than some of the others. Plus, the printout of the information they sent was legible. Dealing with the loan officer was excellent through the whole course of events. We didn’t comprehend the totality but that wasn’t their fault and I got them rectified. Overall, it was a very good experience. The lady we dealt with was good, thorough and had good follow-up. I sought good explanations of everything.

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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 the information we were able to provide you helped explain the process and the benefits of the reverse mortgage process. We are happy that you and your loan officer had an excellent experience and that you were overall satisfied with your reverse mortgage.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 6, 2017

    Several years ago, I had applied for a reverse mortgage with Finance of America Reverse and I went back to them several years later after the housing went up. I'm 80 years old and I live through my monthly income, so I don’t wanna pay any more house payments. My interaction with the fellow, Josh, was very good. He was very attentive and he went out of his way. The problem came in with the underwriters not understanding bank terminology. That was very upsetting because I have a checking account, and years ago I put my minor children as trustees on the checking account because they were minors. Bank of America wouldn't write a letter but they confirmed it on the phone that the kids have no access to my checking account.

    Then, I realized I had another savings account with just my name on it and Finance of America should've asked me that. I didn’t think of that and that's caused a lot of grief. We could've saved a lot of time and instead of something going through quickly, it was a month delay on top of it. But it was not Josh’s fault. His hands were tied and he couldn’t do anything until the underwriters went ahead with the loan. Other than that, Finance of America gave me a lot of credit and I was pleased with the very low closing cost. I would recommend them but be sure only your or your husband’s name is on it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Joan,

    Thank you for taking the time to leave a review on Consumer Affairs. It is great to hear that you had a great experience with your loan officer. We are sorry that the underwriting process delayed the loan, but very happy that you were able to get it worked out. Thank you for choosing to work with Finance of America Reverse, again, and your recommendation

    - FAR

    Verified purchase

    Reviewed June 6, 2017

    I felt a reverse mortgage was the only way I could handle keeping the house. I talked to several companies and the loan officer from Finance of America Reverse Mortgage explained everything, so I can understand it, and I decided to give it a try. I didn’t have any problems, all my questions were answered, so it was great. And it was real quick. It just took a couple of months for the whole thing to take effect. It was so great that I would do it again if I had to.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you for leaving a review on Consumer Affairs. We are so happy that we were able to help you and that you would do it all over again if you had to. We strive for a great customer experience with every reverse mortgage. Thank you for choosing Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed June 5, 2017

    Our age, desire to do some improvement to the home and pay off credit cards, all of that makes reverse mortgage attractive. We did an internet search and quickly developed a relationship with the front office guy that we contacted, Travis. He was good and helpful. He was a good listener and very responsive. All of the information we needed was provided quickly and without any added nonsense. We quickly got to the issue, dealt with it and were able to make a decision.

    All of the companies who do this obviously have a front office and back office operation. The back office would be the review and approval and they’re the ultimate decision makers on what goes forward and how. And we ran into some bit of conflict between the front and the back office once we had filled out all the paperwork and done everything. We have multiple residences and the back office was reluctant to accept our statement that this was our primary residence. Part of it was because our life has been split between a number of locations, most of them concurrently and they're worried about FHA on a post audit. But they got a little bit ridiculous in their request for documentation that would protect their **. Other than that, everything was smooth and quick and easy and everybody we dealt with was helpful.

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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. It sounds like you and your loan officer hit it off well and they were able to guide you through the reverse mortgage process. We are sorry that things didn't go as smoothly as you had hoped the whole time, because this loan is government insured there are a lot of measures in place to protect all of the parties involved. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed June 4, 2017

    I had a friend that told me about Finance of America Reverse. I was really low on money and just getting social security and raising my grandson. I didn't want to lose my home. I'm retired now so it was the best thing for me. We got an ad in the mail so I gave them a call and went along with that. They worked fast, did a great job and it worked out really well. Their guidance was very organized and was done really well. I also had a wonderful interaction with the loan officer. I am so thankful that there's a program out there like this for elderly people that can sustain their homes. It's wonderful, it's a blessing and it was a relief. I'm very happy with my experience with Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Diana,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that you had such a wonderful experience with your loan officer and the reverse mortgage program. We are happy to help. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 3, 2017

    I looked into reverse mortgage and thought it was a good idea. I spoke with the loan officer from Finance of America Reverse, Toby, and he told me about the programs and explained it very well. He was really good, attentive and got back with me immediately when I left a message if he wasn’t there to answer the phone. I was treated very well. I feel that they’re a very honest company and they’re quick to process the reverse mortgage. I would recommend them to others if they decide to go this way.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Raimondo,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so happy that you had such a wonderful reverse mortgage experience with Toby and that he was able to answer all of your questions swiftly and attentively. Thank you for your recommendation and your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed June 3, 2017

    My husband and I are 83 and 85 and we had some things that we knew we would be facing financially down the road without available funds to take care of them. We then thought of doing a reverse mortgage. We talked to William from Finance of America Reverse and he was very knowledgeable and patient and anything that we didn't understand, he was very good about explaining it to us and kept us posted about anything that was coming up.

    At our age we had a lot of questions and fears about things happening in the future. And while William didn't tried very hard to persuade us, he helped us to understand how things would be handled. I never felt that he was pushy or in any way, trying to make our minds up for us. Since working with Finance of America, we feel like a burden has been taken off our shoulders and it feels like we have a safety net. So, that's nice especially not to have worries about how we’re going to come up with the funds to do something.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Betty,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that William was able to guide you through the reverse mortgage process and make sure all of your questions were answered. We are so happy to help you take care of your financial needs.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed June 2, 2017

    I was trying to find someone who would listen to me and when I sent my information in to Finance of America Reverse, Miranda called me back and it was great. Everybody else was going through a whole lot of rigmaroles, but she greeted me with a personal feeling, that 'look, we can help you', and then she asked about a few things they got to know. That was a good approach. Even when it came to the people who were going to come out here, the gentlemen went through how the process would work. Who would come first, then the appraisers and so on. It was less work. Even with my wife, when we're on the phone, they we're trying to get some information, bank and all that stuff. It was good.

    I'm an 80 year old man who has had experiences with a lot of people and I can almost tell a person by the voice when you see them and talk to them. The lady who came down to our house and did the file of paperwork was very professional. That whole process was good all the way through. Everything went smoothly. I enjoyed it and I would recommend them to anybody. If they asked me, I would tell them 'Hey, that's a company that you know, I've not had a bad experience". That first impression is always the best because when I talked with Miranda, it was like she's known me all her life and I have never seen her, no more than talk to her on the phone. She acted like she's known me from day one. She was one heck of a lady.

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    Finance of America Reverse
    Response from Finance of America Reverse

    James,

    Thank you for leaving a review with Consumer Affairs. We are so happy to hear that you and Miranda hit it off from the first phone call through the end of the process. If you ever have any questions, please reach out to us. Thank you for your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed June 2, 2017

    Finance of America Reverse was referred by a friend of mine. Their loan officer and I had open communication. He explained everything to me and always returned my calls. I had a very great interaction with him. I'd recommend Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Solomon,

    Thank you so much for leaving a review with Consumer Affairs. It is great that you and your loan officer had such open lines of communication and that they were able to answer all of your questions and guide you through the process. We appreciate your recommendation and your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed June 1, 2017

    We got old, had a mortgage and didn’t wanna make any mortgage payments right now until we decide to sell it. We were looking to do a reverse mortgage and Finance of America Reverse was one of the ones we've called. I thought it was gonna be a set rate but then it turned out to be a variable rate and I didn’t like that. It was a long-drawn-out deal and part of it was the bank. They didn’t get things to us in time and so we had to start all over again. We had to pay twice for the appraisal. It wasn’t a good and nice deal.

    With the first appraiser that came out, the appraisal came out well within range. Then the second appraiser came out. We had bought a new hot tub for the back of the deck and that came in $30,000 less than the first appraisal. The first appraisal person they sent out was a local guy from Lincoln area and the other one was down by Flint or someplace way east of here that didn’t know a thing about the prices around this area. That caused more problems because it didn't come in high enough appraisal to cover the mortgage. But it went really well with the loan officer. We didn’t discuss the options too much and that upset me some but other than that, everything was fine. It was an experience but even refinancing a home is a pain.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Steve,

    Thank you for taking the time to leave a review with Consumer Affairs. We are sorry that it was such an up and down process. Finance of America Reverse strives to make it very easy for our customers. It is great to hear that you had a good experience with your loan officer. Thank you for choosing to work with Finance of America Reverse and if you have any questions, don't hesitate to reach out to your loan officer.

    - FAR

    Verified purchase
    StaffRates

    Reviewed May 31, 2017

    I had a previous loan with Finance of America Reverse so I took the same one. The nice lady who I worked with was helpful. My interactions with her were all very pleasant and I was educated perfectly. Though the loan raised the interest way up, it helped out because I paid off the old loan and got some additional cash that we needed.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Gordon,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that you had such a great experience working with us that you decided to work with us again. We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 31, 2017

    I needed to do some repairs on my home and I wanted to have a little nest egg so I went with a reverse mortgage. I really liked Finance of America Reverse Inc.'s salesman so I went with them. I had good rapport with my loan officer. They've just been wonderful to me. My experience has been excellent.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Julie,

    Thank you for leaving a review on Consumer Affairs. We are so happy to hear that you and the loan officer hit it off and had a good rapport through the whole process. We're pleased to hear we were able to make your experience excellent.

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 30, 2017

    Choosing a reverse mortgage helped a lot to take some pressure off. Then Finance of America Reverse educated me before I accepted their counseling. They helped me to fully understand what I didn’t know to start with. They answered my questions and have been very helpful and supportive all through the process. I liked the lady I talked to and I seemed to connect with her. She calls me every month to know that she's there if I need anything. It's been great and pleasant.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Lois,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that we were able to help you expand your knowledge on the product and all that it can offer. We are also happy to hear that you and your loan officer had a great connection and keeps in contact.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 29, 2017

    Everybody is kind of afraid about this reverse mortgage, how they had scams years ago. But the one I spoke with at Finance of America Reverse, Nicole first told me all about the process and then a counselor called me. I had a lot of issues to deal with and Nicole went through everything. At one point, I told her, "Maybe I’m just gonna go ahead and forget about this," and she said, “Let’s just try a little bit more.” And after I receive the money, I could go ahead and get my electricity done and a couple of different issues on the house. She was very, very nice. She’s an asset to that company. It really went smooth for me. I tried to pass it off to my friends. A couple of them said they're gonna wait ‘till next year but I said they better do it now because the financing might be different, they'll never know. I’m amazed that people don’t take advantage of this.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Peggy,

    Thank you so much for your review on Consumer Affairs. We take pride in the people that help our consumers through the process. We appreciate your effort in spreading the benefits of this product and wish you and your family the best.

    -FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 28, 2017

    I wanted to take this opportunity to let everyone know that we are so glad that we found FAR and met William **. During the saddest time in my life, after dad just passed away and left my mom with the uncertainties of her daily expenses and finances, William and FAR came to our rescue. We heard of reverse mortgages and knew that this could be our solution by eliminating her mortgage payments completely. I shopped around not realizing that the competitors were charging nearly $30K worth of fees that FAR simply did NOT. Saving us a lot!!! It was also a nice bonus to know FAR would be keeping the loan and not selling off the loan to any other lenders.

    From day one, William was on his game. He thoroughly explained what we were getting ourselves into; he took the time to let us know what was to happen next; and always kept us posted from day-to-day. We never felt lost. At closing we actually thought we were losing the deal. We were lacking necessary documents and we just couldn't get them. We thought the whole deal was going to fall through or, at very least, be delayed. But somehow, to our huge surprise, William and Jasmine pulled it off and closed the deal. We cannot thank William, Jasmine and the FAR team enough for all your help. Thank you, thank you, thank you!!!

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    Finance of America Reverse
    Response from Finance of America Reverse

    Erlinda and Edwin,

    Thank you so much for taking the time to leave a review on Consumer Affairs. We are so happy to hear that William was able to help you through this troubling time in your life. Thank you for allowing us the opportunity to serve you and your family.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 28, 2017

    We had a small balance of $51,000 on our mortgage. But our payment is $3,500 a month. It was from the prior mortgage company 15 years ago and we couldn’t pay it monthly anymore. I made calls and Finance of America Reverse were the first to call back. They worked with me with everything they were supposed to do but I was pretty set in exactly with what I wanted to do. The girl I talked with on the phone all the time was very good. But after the closing, she was out of the picture. I pay less than $600 a month that covers the mortgage payment without it growing.

    But one problem I have is that on my bill, I keep getting a charge for $128 a month. They’re telling me that this charge is for title insurance and that I signed the paper for it which, on the closing, I paid $2,700 for. I don’t remember signing it and asked them to show me the paper. They said they were gonna email me a copy of it. That was two months and I haven’t seen a paper from anybody - nothing in writing and in the mail, except this charge of $128.

    Before the closing, they were wonderful and I couldn’t get better in the performance. Any help or response I got were perfect. It was like I was dealing with a different company after the closing than before the closing. Not that the people aren’t nice after closing, but they lie. The bottom line is I would not recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so sorry to hear that your experience has been less than satisfactory. Please look out for a phone call from us regarding your experience and what we can do to make it right. Sorry for any inconvenience.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 28, 2017

    I heard about reverse mortgage from someone but it turned out they wanted so many things done. I went to Finance of America Reverse and they didn’t have all that peripheral activity. The interaction with them has been friendly and positive. The loan officer gave me all the information I needed to get going and she’s absolutely wonderful. I sold my house at the last minute yesterday. I took some extra funds to get everything moving and that came in handy. They got everything we needed right on time for the closing agent, which was awesome, including the new payoff amount. Everything was just great.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Loretta,

    Thank you so much for taking the time to leave a review on Consumer Affairs. We are happy to hear that your interaction and experience has been friendly and positive throughout the whole reverse mortgage process. Thank you for allowing us to serve you.

    - FAR

    Verified purchase

    Reviewed May 27, 2017

    My husband passed away three years ago, and I decided it was just time to pay the payments and stay alive. I can't decide if I want to stay at our house or not. If I stay there, I could sell it and just pay off the loan. The problem is that I don’t know if I'm happy there or not anymore. It's just a sad thing for me. My husband and I bought the house with a two-income deal. It's awful. It was going to be $1,500 house payment and $50,000 a year. I just couldn’t do it. I was misled in the beginning because I thought I was going get $14,000 and I only ended up with $10,000. I planned to go on vacation, and since it only ended up being $10,000, I decided that I just wouldn't go.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Linda,

    Thank you for taking the time to leave a review on Consumer Affairs. We are sorry that your experience wasn't what you expected. Please, reach out to us if you have any additional questions or things that we can help work through to make your experience better.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 27, 2017

    I submitted an online request and Finance of America Reverse was one of the first to respond back to me. Out of the responses I received, I preferred the way that they presented it. The person who called me from the company took the time to listen to my situation to decide if he might be able to offer a product that would serve my need which is reverse mortgage. Based on that conversation, he was very prompt in getting back with me with more information. Plus, there was confidence in his voice. The most important thing is to make sure that one really understands the process and has a clear understanding of the product they’re offering. The manager of the person I dealt with the entire time presented the product as we were entering the final stages slightly different than the person that I was working with. And it was not the way it went down. So I had a little surprise right at the very end.

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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 appreciate the opportunity to help you with our product and understanding the uses. We are sorry to hear that it did not end as expected. If there is anything we can do to rectify the situation, contact your loan officer. We are sorry for any inconvenience and would love the opportunity to improve.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 26, 2017

    My application for a reverse mortgage with William as my reverse mortgage specialist was a painless procedure. With his help I was able to complete the application and reach the closing in a matter of days. All of the folks I dealt with from the very start to the closing were very professional and personable. I would recommend William and Finance of America LLC to anyone interested in a reverse mortgage.

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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 is great to hear that William was able to make the process easy and simple for you while always staying professional and personable. We appreciate your recommendation and your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed May 26, 2017

    We have no children and we’re all in our 70’s so we got a reverse mortgage with Finance of America. That's $720 we wanted to pay and that really makes a big difference. The man who did the paperwork for us was very good. It was the easiest thing I ever did. Finance of America have been very nice. They send me notices all the time and how much money I still got to come. It's been very good and I’ve been very satisfied.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Homer,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that your reverse mortgage process went easily and that you are very satisfied. Thank you for allowing us the opportunity to serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed May 26, 2017

    I had a home equity loan. I didn't read the fine print when I first took it out and after 10 years, they told me to pay it back. I said I'll go to some place else and ended up with Finance of America Reverse. They did a good job. Their rep was available when I tried to get a hold him. He explained and answered all of my questions. I didn't have any problems with any of that, so it went pretty smoothly. He kept the whole thing moving.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jerry,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that you were satisfied with our service and your Reverse Mortgage Specialist. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 25, 2017

    I'm 78 years old. I had a wife to attend to and Finance of America Reverse were very easy to deal with and honest. I struggled for years and I got my credit land where I could do it. The loan officer was nice and he was on top of the job. During the process, he would call and stay in touch. That impressed me and everything has turned out good.

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    Finance of America Reverse
    Response from Finance of America Reverse

    George,

    Thank you for leaving a review with Consumer Affairs. We are so happy to hear that your experience with us was very easy and upfront. Thank you for working with Finance of America Reverse, if you have any questions please contact us.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 25, 2017

    We downsized and I wanted to get to where we didn’t have any mortgage. So I took the equity that we had on a previous realtor to buy the house we’re in now. Then took out the reverse mortgage just to fill in when we needed it. With Finance of America Reverse, I could have a monthly statement if I want. Also, I can either take a lump sum or just take what I need. The people I worked with were friendly and knowledgeable. The guidance I got from them was very good and thorough. If anybody wants a reverse mortgage, I’d certainly recommend Finance of America Reverse because it was a very good experience. The only thing I had objections to was all the hoops you had to go through in order to get approved as far as going to this place to get educated and go to another place to do something else. There’s a lot more happening than just going to the bank and getting a loan.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jeff,

    Thank you for taking the time to leave a review with Consumer Affairs. We are happy to hear that taking out a reverse mortgage has helped you fill in the gaps in your retirement and that we were able to provide you with friendly and knowledgeable service. There are a lot of steps in the reverse mortgage process required by the government to make sure everyone is protected. Thank you for the opportunity to serve you.

    - FAR

    Verified purchase
    StaffRates

    Reviewed May 24, 2017

    I first read about the agent I dealt with, who I thought was in Tuscaloosa, Alabama and that's why I contacted her. I had her phone number and her work number and I had day-by-day contact with her. But later I learned that she was in California. Of course I lived 36 years in California, so I learned a lot about the program there. And then later on, I dealt with a lady in New York as well. It's a finance institution that handled the thing. Both ladies were very cordial and helpful. And then I went through the whole procedure to learn what mortgage it was and how it would affect me, and I decided to go ahead and do it.

    I wanted to get some assistance because my total income was my social security benefit. But the rates are a little bit higher than I wanted, but the interest rates on paying back is like 6%. Of course, that's above most interest rates today in my position anyway. Then they told me a couple of times that I was gonna close, and then something else that was overlooked would come up, and I'd have to get another guy to come out to get me to sign stuff. But I've completed it all and was successful in getting the fund that I needed. I'm pleased with it.

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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 you had a successful experience and that you are very please with the outcome. We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan ProcessRates

    Reviewed May 24, 2017

    I need to do some repairs to my home and Finance of America Reverse was lesser of all the evils that are out there. However, the experience was not very pleasant. I dealt with five or six companies over about 14 months trying to get somewhere. I feel like the consumer is being taken advantage of in this program. I dealt with about eight loan officers. The very first one was really good but then either she got fired or she left that company. Then I got a hold of another one who really didn't want to deal with me because I kept asking the very pertinent questions like what is the final interest rate that I'm going to be charged and every one of those loan officers say, "Oh it's fixed, it is the exact same number at every place" and it was not.

    There is a standard charge that the government makes them put on one point too fat, going and coming on both sides and then they take the actual interest rate of the current rate is of labor out there and then those loan people get an opportunity to add on their profit. It was not told, not publicized and they will lie to your face that this is the best offer and that everybody gets the same rate when in fact when you get down to the final pieces of paperwork, it's not. The last part of this is you get down to the very closing and they send all the paper works. You go through all the people coming out to your house to sign them. You go why, and you find out it is not what I agreed to. They can't explain why they raised the prices.

    After going up all the way the ladder to almost the president of the final company that I used, he said "You know what, we made a mistake so we'll change it." So what is the deal with all the label hassle going on with the program? Fortunately, I'm an educated young man who understands finances and understands what it is. Every one of them has the very same paperwork for you to read. It's a canned piece of paper they send that's from the government. They just lay it out there and you have to make your own decision. Also, the biggest problem I see is the turnover with people that do this. I've dealt with 9 different people with only three different companies.

    It's a great program for people who are retired, who don't want to spend their own income, have value in their home or have their home totally paid off as we do in our case to overcome some heavy bills that you need. It's like buying a car, if you don't beat down people to get the best price you want, you'll pay the very highest price and that's just not the way I believe America should be made. I would be very dissatisfied until I finally got a hold of a loan officer who was a supervisor and he took care of the problem. But it took very, very hard due diligence on my part to get to that point. It's really bad except the last gentleman I used in Cincinnati after four different officers, did a great job.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you for taking the time to leave a review with Consumer Affairs. We are so sorry to hear that your experience did not turn out as expected. Someone will be in contact with you shortly to review your situation and get a better understanding of what happened and how we can help make it better. We appreciate your patience and sorry for any inconvenience.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 23, 2017

    We're both in the 60's, we needed to make a difference and not having the mortgage payment is helping us so much. A reverse mortgage is a tough process to go through. But the lady that took care of our reverse mortgage stayed with us through the whole process. She called and helped us when we ran into some roadblocks. She’d also call us at 8:00 at night and would ask how we're doing. She became like a family friend and you don’t get that in corporate America today.

    Everybody should use Finance of America Reverse because they’re so family-oriented. It’s so important to have a really good feeling about people coming into your home, especially seniors because we’re taken advantage of all the time. We get phone calls about schemes to do this and that. So it was very hard for us to trust anybody to come in and produce what they say they’re gonna produce. And Finance of America Reverse not only did that, but they went way beyond. We have a wonderful life now because we have peace of mind. We’re in this home forever and there’s a feeling of security you can’t beat because you got the power of the Federal government behind you and nobody can come in here and say, “Bye, bye!”

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    Finance of America Reverse
    Response from Finance of America Reverse

    Mary,

    Thank you for taking the time to leave a review with Consumer Affairs. It sounds like you had a great experience working with our team. We are so happy that they were able build a relationship of trust and friendship with you. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 23, 2017

    My retirement fund is running low so I looked into getting a reverse mortgage. I studied quite a while before I decided to do this. I’m a one-on-one person and the calls that I got were for people out in California, New York, and the only one that called was the lady from Tulsa. So I drove up from Oklahoma City to speak to her in person. The interactions with the loan officer have been very good. We tried to do everything over the phone and through the mail. But I felt like I needed to be face to face with the people that’s doing all this. You could ask questions and you could watch the expression on their face and find out whether they’re actually telling you the truth. I found out that she was doing 99%. So I just decided to go with Finance of America.

    However, I think that they could cut down the paperwork. I've got a three-inch stack of papers, and most of it is repetition. Other than that, everything has been fine. The reverse mortgage has helped me but I’m trying not to tap it too much because the less I take out, the less I have to worry about getting it sold. I just got to regulate my outgo to what my income is. But I do a have the reverse mortgage to fall back on if I really need it. It was a satisfactory experience and I’d recommend it to a friend.

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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 we were able to provide you with that face to face service through your reverse mortgage process. We appreciate your choice to work with Finance of America Reverse and your recommendation of our services.

    - FAR

    Verified purchase
    Staff

    Reviewed May 22, 2017

    We liked where we're at and we couldn't replace our home. It's also hard to find a place that has 5 acres. Then, we didn't want to move and to sell so we chose a reverse mortgage. When I filled in the blanks to get a quote, Linda from Finance of America Reverse was the first that answered it right away. She mailed me all the materials within a day. I had other five people contact me and everybody was good. Everybody else came in with the same price, except one guy who was trying to screw us. Linda was the first and I didn't see any reason to go any further and we really appreciate it.

    I communicated with her and we got along good. She was a really nice person and my wife liked her too. She did everything fast, smart, and it was totally cool. She was upfront with it all and we knew we wanted to do the reverse mortgage. Then, we went through all the other stuff. I got the right appraisal so that helped make everything go. Everything went smooth as silk and she handled everything. It was almost too easy and I've got no problems with Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Larry,

    Thank you for leaving a review on Consumer Affairs. It is great to hear that Linda was able to answer all of your questions in a quick and knowledgeable manner and that everything went smooth as silk through the process. We appreciate you choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 22, 2017

    We had been thinking about getting a reverse mortgage for quite some time but then we were not sure and comfortable with it so we didn't move forward. Then we got a call from Finance of America. The lady said that they were waiving the closing costs at that particular time and that was a big thing for us. She did a great job and understood any hesitation that we had. She always answered our questions thoroughly and to our expectations and helped us to feel comfortable about the decision to move forward with Finance of America. They made everything run smoothly and painlessly.

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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 on Consumer Affairs. We are so happy that your loan officer was able to answer all of your questions thoroughly and helped you feel comfortable through the whole process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 21, 2017

    I Googled Finance of America Reverse then I started talking to someone and she really knew what she was talking about and I'm like, "This is what I really need to do." I could refinance and get off from under the monthly payment and have everything come out, my insurance and taxes and have things taken care of for me. I called Carolyn and we hit it off. She explained to me what was happening but then there was something on my credit and I'd be crying. She was so patient with me because there was always something going on like the furnace went out and I'm crying to her, I need to get it done. She was remarkable in helping me get everything straightened out.

    I started actually at the end of October and we thought I could probably get it done in three of four weeks. But then we finished almost February. It was a long time. I was really stressing 'cause it was Christmas. I have grandkids and my son understood I couldn't afford anything. I was stressing about that and then I had a judgment against me and I had to get that taken care of. I just wanted it to go through.

    What they do as far as helping elderly, getting rid of that payment and me being able to stay on top of my bills and knowing that I've got something in my savings later on down the road, it's a comfortable feeling. I don't have to worry about my taxes and my homeowners. Everything is taken care of by them. I'm more than happy. I'm stress-free.

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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 on Consumer Affairs. It is great that Carolyn was able to walk you through the reverse mortgage process. We're happy that everything worked out and you're now stress-free. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed May 21, 2017

    The reverse mortgage is for my aunt Annabel and it was a perfect situation for her because she owns the house. She was hard on money and the house would be sold when she passes as she has no children to leave it to. The rep we worked with didn't let us slack off and she offered solutions when we were confused on how to get something accomplished. The guidance we received from Finance of America was excellent and it took me a while to convince my aunt that it was good, but now she's happy that she did it. I would definitely recommend it to anybody that had a situation that wanted it.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Faye,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so happy to hear that we were able to help you and your Aunt through the reverse mortgage process. We appreciate your recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 20, 2017

    I knew somebody else that did reverse mortgage. The hotel that I was working for at that time was closing, so I wasn't going to be working steady. I was figuring that I'd look into it to see what was what. I looked into it a couple of years prior with another company. They said that it wasn’t for me yet at that time. So I waited a couple of years and got it done through Finance of America Reverse. My loan officer was great. There was somebody else at the underwriting office that was a real pain because, every time they asked for something, they had it already and they just kept on holding things up. It got to the point where I said, “You know what? This is it. We're done.” I said, “I don’t care if you fund it or you don’t fund it.” But other than that, everything's good.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Philip,

    Thank you for taking the time to leave a review with Consumer Affairs. We are sorry that your experience wasn't as seamless as expectations. If you have any questions please don't hesitate to reach out to your loan officer. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed May 20, 2017

    Since my husband died, I didn’t have enough money to live comfortably and pay my bills. So I decided to go with the reverse mortgage. Andrew was the person I talked to from Finance of America Reverse and he was sweet and friendly. I have never had anybody treat me any nicer.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Shirley,

    Thank you for leaving a review on Consumer Affairs. It is wonderful to hear that Andrew was able to walk you through the reverse mortgage process in a kind manner. We appreciate the kind words and your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 19, 2017

    It was really good with the loan officer at Finance of America Reverse. He didn’t try to make it too flowery or too great and explained things really well to me in a way I could understand them. He was also very consistent about calling me every week, letting me know what was going on and what he thought might happen.

    But I was really disappointed in the person that was sent out here to look at my house. He wouldn’t listen and he was very distant. I didn’t like anything about him. He brought up lead pipe but I’ve come to find out he was not even sure I have lead pipes. It was just the age of the house and he assumed it was lead pipes in it. It’s been a little mess and really horrid getting it ready. Then, the last call I got from the lady was almost threatening that they're gonna stop the loan if I didn’t get this done and I didn’t appreciate that at all. I’m not out to speak against Finance of America but I would not go with them again. They’re okay and I’m not angry but I’m not pleased.

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    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed May 19, 2017

    I got a letter in the mail saying that because of the price increase of the value of the house, my interest should go up. I'm 75, a widow, and I didn't know what I could do. But I had to figure out what I can do, so I called Finance of America Reverse and a very nice man answered and it worked out fine. I had a reverse mortgage but they gave me $20,000 more than I had before. The loan officer was wonderful. He called me up and helped me through everything. He went out of his way to get the extra things. His secretary also helped and then another person called me up and they made all the arrangements. They went out of the way to call people for me, which I didn't even know I was supposed to call. At first, I was leery over the phone because you hear about all these scams. But they bent over backwards to appease my leeriness and I couldn't have felt more confident over the phone. The staff that they hire is excellent.

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    Verified purchase
    StaffLoan Process

    Reviewed May 18, 2017

    I took an early retirement and then I was 62. I got Finance of America Reverse's number online and reached out to them. Working with the loan officer was very good, professional and quick, and she’s very knowledgeable. Also, their guidance was good because I had no information before. It's been good, so far, and I’m satisfied with both the cost and quality. It's been an excellent experience and I would recommend them to anybody.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jacques,

    Thank you for leaving a review on Consumer Affairs. We appreciate your kind words about our professional and knowledgeable service. We are glad that you had an excellent experience and would recommend us to anybody. If you ever have any questions in the future, please reach out.

    - FAR

    Verified purchase
    Staff

    Reviewed May 18, 2017

    A reverse mortgage would allow me to retire and Finance of America Reverse specializes in that. They answered the questions that I asked without any hesitations and they knew what they were talking about. The loan officer first gave me the information and told me the potential. Then, he walked me through it step by step and did most of the work for me so it was easy. I received excellent guidance. They took care of it and I didn't have to have any expertise or any other knowledge. Working with them has been wonderful. There were no repercussions, no questions, and no problems. They were consistent and it didn't take very long. We got it done in a month and a half.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Donna,

    Thank you taking the time to leave a review on Consumer Affairs. It is great to hear that we were able to answer all of your questions and walk you through the reverse mortgage process. We appreciate the opportunity to serve you.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 17, 2017

    Somebody mentioned using a reverse mortgage so I decided to look into it. I was browsing through the different companies and Finance of America Reverse popped up so I went with it. The loan officers were very good and my experience with them went well. I highly recommend Finance of America Reverse.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Peter,

    Thank you for leaving a review with Consumer Affairs. We are so happy that you had a great experience with our team. We appreciate your recommendation and the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan ProcessRates

    Reviewed May 17, 2017

    The Finance of America Reverse representative I worked with was very nice and he did everything when the forms came. The experience was okay, but he’s trying to make a sales call too. Sometimes I got the feeling that he was pressuring me when I needed to have some time to think. Also, when I asked him questions, I got vague answers. I started out with $70,000 in December that they bought and I owed $94,000 or $93,000. I know there's $10,000 for fees, a couple of thousand in taxes and around $3,000 that was dispersed to me, but it seemed like $30,000 in the course of six months.

    The counselor I talked to in Florida told me that some companies have a backend administration cost which can be exorbitant, so I asked the rep if they had that and according to my notes, there wouldn't be any. However, I'm paying $94 a month for administration cost. I also asked the representative to elaborate on the way the tax works because it seemed like the interest on the loan that the negative side would be their compounding and I can roll out of once it gets out of hand. There's no way I’m gonna be able to keep the mortgage down or pay it back. I might as well let it go and figure it's gonna run its course and still wind up for the house when I die or it wouldn't be worth it to buy back.

    In retrospect, I wish I haven't done it. I should have taken a traditional loan instead. I could have been better off to borrow extra money. I realized that I made a stupid mistake. I wanted to get a little more free pass, so I could relax a little bit and didn’t have to work part-time all the time. I wouldn't recommend it to a friend. I wouldn't want them to go through this. If it was just a matter of $600 mortgage, I won't mind but I could have done without the whole thing.

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    Verified purchase
    StaffLoan Process

    Reviewed May 16, 2017

    Due to my age, I chose a reverse mortgage as part of my retirement plan and I got the most information from Finance of America Reverse. They knew what they were talking about and I've had comfortable interactions with their loan officer.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Frank,

    Thank you for taking the time to leave a review with Consumer Affairs. Happy to hear that we were part of your retirement plan. We appreciate your choice to work with Finance of America Reverse.

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 16, 2017

    My experience with Finance of America Reverse was fine and I enjoyed it. My health isn't as good as it used to be. I was having to stop working before I was ready to and my mortgage was a little bit outstanding. I then decided to eliminate the mortgage so life would be a little easier. The representative that we were speaking with at Finance of America Reverse was bright and bubbly. We have talked to several different companies and we liked the way she presented herself and her company. We told her what our needs and concerns were. She jumped on them immediately and took care of everything as we requested.

    They had told us what the processes were, where we needed to go, and who we needed to talk to. Also, they sent us to an outside counselor to get counseling. Once we're completed with the counselor, my wife called them back and they concluded the information. One of our basic concerns was my wife, who's been on the mortgage since we bought the house, wasn't allowed to be on the new mortgage deed because she's not 62. In any event something happened to me, her concern was that she's still gonna live in the house. Then, they talked her into it and we're well-satisfied with it. All in all, working with them was very delightful. They're very informative and as far as I'm concerned, they have my needs upfront.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Kenneth,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so happy to hear that your loan officer was able to provide you with all the information you needed and walk you through the reverse mortgage process. Thank you for choosing to work with Finance of America Reverse and please, reach out if you ever have any questions or concerns.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 15, 2017

    Saving $900 a month on the house using a reverse mortgage was a good deal. I didn't consider it for a while and when I was gonna work a little bit longer to get my equity up, Finance of America Reverse worked with me on a deal and so I was able to get a close on it. When they told me they were gonna do something, they did it and I appreciated that. The process was a grind, but I expected it to be. They gave excellent guidance and everything was above board and straightforward. They were good people and I enjoyed them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    David,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that you received excellent guidance and everything was straightforward. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 15, 2017

    Finance of America Reverse process went really well. Their loan officer was informative, nice and took care of things that we needed to do. He explained everything really well. He was also really pleasant and worked with us really good. The timeframe was reasonable. They had estimated about four or five months but we got it done in about three months which was really quick.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for leaving a review on Consumer Affairs. It sounds like you had a great experience with your loan officer through the reverse mortgage process. We are happy that we had exceeded your expectations. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 14, 2017

    I wanted a new truck and through FInance of America Reverse I was able to get one. Then I will have to wait until next year and see what else I buy. The guy from Finance of America was more personable compared to those from other companies. We just talked other things besides reverse mortgage. My situation was a little bit on the strange side because I have an ex-wife and she's still on my deed so we had problems. The process took a little bit longer than normal. But all things given, it worked out. It wasn't my greatest experience but it wasn't bad. It would have been better if it did not take so long and cost so much.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Scott,

    Thank you for leaving a review on Consumer Affairs.It is great to hear that the process worked out and that you were happy with your loan officer. We are sorry about the long process, we just have to make sure everything is just right. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 14, 2017

    My experience with Finance of America has been pretty good though it started out a little on the rough side. They couldn't get their ducks in a row. I had another little house on my yard that I built for my dad in 1999. And the people who set it up and were supposed to record in on the tax thing didn't record it. And then they decided that because it was a completed house, they couldn't do the reverse mortgage. So, I went through that for a bit to convert it to a storage house. And then, they went back and forth with it.

    There was also a problem with the people doing their appraisal. They came out and did the appraisal on the house, but they never returned it back in like they were supposed to. Then the man who was the head had a heart attack about the time they did their appraisal and they said nothing. And that whole thing took about eight months. The reverse mortgage wasn't something that I was quickly in need of at the time but I wanted to use the equity.

    The other thing that had gotten into it was a loan application. I had helped my son-in-law and restructured a business loan for him and phoned everything. But I was not listed as the person who was responsible for the loan. We got that straight, but they couldn't get the numbers on the loan thing. They were telling me about one thing that didn't make sense to me. And when they finally narrowed it down, they had one loan number. It was another loan and they had that confused. My wife had cosigned for our daughter to buy their house through the same bank and the bank was the one given the wrong number.

    Finally, I told them to forget it and we won't do it anymore. They came back and told me everything is under control and they can do it. And they did. They gave me all the money for the first year and I gave them $20,000 of it back because I didn't want it all in the first year. I'm getting older and I won't just spend all this money. Nevertheless, the people I worked with Finance of America were good and they were who I wanted to work with. They were the right company to deal with. I would recommend them. Everything they did was done with my interest. They were with me all the way on the reverse mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ken,

    Thank you for leaving a review with Consumer Affairs. We are so sorry for the rocky start but happy to hear that everything got cleared up and you were able to use the equity from your home. We strive to always put our customers first and make sure that we can do everything in our power to help them.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 14, 2017

    Due to my financial situation at the time, I got a reverse mortgage as part of my retirement plan. And Finance of America Reverse were the best that everyone knew about. I got as much information from all of them as I could and at least one other company claimed to offer just as good or better reverse mortgage as Finance of America but they dropped the ball. They wouldn't respond to my inquiry and a month later, I made contact again but they were inconsistent.

    Finance of America was consistent and did everything they promised to do. They were competent, professional and very helpful. They answered all my questions. And the person I worked with was very friendly, thoughtful and knowledgeable. He was very easy to work and he couldn't have been nicer. He's contacted me by phone or wrote me a thank you note. I couldn't have been more pleased with their expertise and their efficiency.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Robert,

    Thank you for leaving a review on Consumer Affairs. We are happy that you chose to work with Finance of America Reverse. It sounds like you had a seamless experience and that you and your loan officer got along great. We appreciate your choice to work with Finance of America Reverse and are so happy that you are pleased.

    - FAR

    Verified purchase
    Staff

    Reviewed May 13, 2017

    There was somebody else I was doing reverse mortgage with that seemed to lag and took their time but Finance of America Reverse answered me quickly by getting back with me. They seemed to be interested so, I decided to go with them. I wanted to get money to do remodeling. The money I got wasn’t anywhere near enough, but I got what I got to try and help straighten up my finances.

    But, I don’t understand that appraisal issue. It’s the little things that they pick like a tear in the screen. What does that have to do with the house? The house is only 70 years old so, I understand there’s gonna be some things. But I can’t understand that when he came in, he said I got issues with the foundation and I got termites. I don't have any of those. I still got this whole fireplace I’m tearing out because they built to it to add that on. I don’t want that there. I want it torn up and put back to where it originally was. I also want it open concept so, I had to take out some walls. But none of this was done when he came.

    I got a sink that’s in my house that’s practically an antique and the drawer. I never found a drawer for that sink and they don’t even make them anymore. I don’t understand the people that are doing this appraisal. It was nothing majorly wrong with this house. It has good structure and foundation. I have people come in and inspect the foundation and it’s good and solid. It’s in good shape for how old the house is. It’s the little cosmetics stuff which, to me, is nitpicking and it makes it frustrating.

    I had to paint this whole house on the inside before they'd approve the loan and I’m gonna have all these walls covered up. Why am I wasting $300 or $400 on paint and hours and hours of labor doing this? I don’t get it. It doesn’t change the value of the house. It doesn’t change anything. Also, there was a space outside under that porch that never had a door. It was a space that even if one goes in, that person can get out of it. It’s not like one can go in and get lost or trapped. It’s an instant space under a porch but I had to build a door and put on it. It doesn’t make sense and it's weird. It was frustrating. Why bring it up, just to have me do something with it?

    There was also the sink upstairs that I had to take a look because the previous owners didn’t maintain the house, for one thing, and they didn’t use the water. I had to replace all the lines on that. I had taken it loose because it was leaking and the guy constantly picks the no running water. Nobody was living upstairs anyway but I was working on stuff. The balance of this loan is depending on these things.

    I thought the thing was supposed to help you, but it’s like they’re throwing blocks in your way. I’ve been trying to get somebody to tell me why would they pick stuff like that but nobody seems to have any answers. It’s nothing you can look to give you answers as to how to deal with it or prepare for it. This is two different appraisers that pick the same thing and it was like there was nothing else they could find so, they picked on this hole under the sink that’s older than them.

    There’s a lot of stuff that, if I couldn’t do myself, would be falling short because there's a lot of the things I’m doing there myself. The demolition, putting back up drywall and I got stuff in there that I have to do for the ceiling in order to finish out this appraisal. I was doing demolition, turning around my chimney and the plaster on the wall. It would seem as though I’m doing a remodel and I’m gonna get that fixed when I get the money to do that. I’m still stuck with a lot of the remodeling that I need to do because I didn’t get one-third of what I needed.

    I have a $500,000 property that this person came in and appraised for less than two-thirds of the price of it. I only got one-third of that so, it’s like having a gold mine but you can’t access the gold in it. You can only walk around and kick over rock every now and then and that’s it. I’m sitting on $500,000 and I thought that I was gonna have at least a couple of hundred thousand but I can’t get for it $80,000 which is crazy. What am I gonna do with $80,000? That will help me barely pay bills. That doesn’t do anything to the house, where it will cost you $15,000 to do plumbing and maybe the same for electrical. I can't get the things that the house need and there are things I need to do that I can’t do.

    They were the only ones that got something through. Then, they take $80,000 and tie it up to where I can’t get anything out of that whereas if I had gotten that, I could have had it up to where I could pay my own taxes. I don’t even think about paying taxes. I pay all my taxes but they’re taking that and setting that aside. They set aside money that I need. Maybe I should have sat down with a planner and I probably could have gotten a better negotiation out of this because I wanted to set aside two years of payment for all the utility which I couldn’t even get to do because I had nothing else to set aside after I had already done the things that I’d already planned to do. I didn’t have enough funds.

    But other than that, because we had been trying to a get traditional loan, the house is paid for and we don’t owe any money on it. All we owe is taxes and the water bill. It was a help and I’m using it as a stepping stone. Also, I was looking at getting what I was gonna get, do what I needed and then maybe in seven to eight years, paying this money back. The way it is now, I’m a little bit better than even. I could do a little bit and I can save something on there which I couldn’t do at first. Now, I can save $1,000 a month. I’m looking at my payment options, paying it back and freeing up my house back up again to get this lien off of it. Finance of America Reverse has been fine and they came through while others failed. I’ve already recommended them and my sister checked all out.

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    Finance of America Reverse
    Response from Finance of America Reverse

    James,

    Thank you for leaving a review on Consumer Affairs. We are happy to hear that you were pleased with the speed and efficiency of our loan officer. Thank you for choosing Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 13, 2017

    I talked to two different companies and Finance of America Reverse was the one that wanted to go forward with me. The guidance I received from them was super. Their rep, Josh, led me every step of the way. He was straightforward and easy to get a hold of. Finance of America did a superb job and helped me manage everything from start to finish. It was a great experience with them. Whenever something came up, they were willing to look at it and go through it and made sure everything was going the right way.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Frank,

    Thank you for leaving a review with Consumer Affairs. It is great to hear how pleased you were with the guidance and communication from your loan officer. We are happy that we were able serve you.

    - FAR

    Verified purchase
    Staff

    Reviewed May 12, 2017

    I did a reverse mortgage with Finance of America because I needed to fix my house. I liked the way their rep explained things to me. He explained how I could get that money because on what income I get, there's no way I could have done anything. He said that a reverse mortgage would help me and I could do what I had to do to the house and have a little extra money.

    We've had snow here and then yesterday was the last day we had rain and everything is soaking wet so I can't have anybody paint my house yet. Now, the insurance company tells me that I have to have new roof shingles in my house because of the reverse mortgage. I never know that it was hail that damaged the north side of the house and they tell me that I have to put on shingles that last 25 years. I'm upset with my insurance company and the rep gave me a couple of people but they're expensive. Other than that, Finance of America did well in helping me out. I would recommend them to my friends.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Marie,

    Thank you so much for taking the time to leave a review with Consumer Affairs. We are happy that your loan officer was able to explain and walk you through the process. If you ever have any questions about your reverse mortgage don't hesitate to call us. We appreciate your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 12, 2017

    Everything went fine and the whole process going with Finance of America Reverse went smoothly. Their people were polite and seemed to try to answer our questions. I have recommended them to a friend.

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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 happy that your reverse mortgage process went smoothly and that everyone was courteous and helpful. We appreciate your recommendation and your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 11, 2017

    Andrew explained all my options. He was very easy to talk to and answered all of my questions in language I could understand without overwhelming me. I was not sure if this was the right decision for me or not. He listened to me until I talked through it and came to my own decision that reverse mortgage was the right choice for me. Without Andrew I know this process would not have been so easy... I would have come out on the other side questioning myself. So I thank Andrew ** for all his help and dedication in making me feel I was his only client. I also want to mention, if I had a question he wasn't sure of he would ask until he found out the correct answer. I would not have gone with this company had it not been for Andrew. I had spoke to a few other Reverse mortgage companies but chose Finance of America Reverse… because I felt so comfortable with Andrew right off the bat.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Nora,

    Thank you for taking the time to leave a review with Consumer Affairs. It is wonderful to hear that you had such a great experience working with Andrew. We are so happy that he was able to answer all of your questions and walk you through the process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 11, 2017

    There was some work on the house and so I chose to have a reverse mortgage. Finance of America Reverse was the only one I knew. My husband got their number from the TV and I called it. Their rep sounded good when he told me about it and he seemed friendly and knew what he was talking about. I really enjoyed talking to their rep, Jessie, and I still could call him when I have any problems or questions. However, I didn't realize that we had to go through so much with people coming over and talking to us and then signing so many papers. We have to fill them out and then they asked us questions. But it was what they needed to do and it was fine after that. I have recommended them to a few people.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Priscilla,

    Thank you for taking the time to leave a review with Consumer Affairs. We appreciate your choice to work with Finance of America Reverse and are very happy to hear that you hit it off so well with Jessie. Thank you for your recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 11, 2017

    We needed to do some repairs on our house and we've gotten all those done now so we wanted to use the reverse mortgage in order to be able to pay for those. I was in Hawaii and a girl that was out there told us about Finance of America Reverse. She gave us the name of the guy that did the reverse mortgages and we called him. We stayed with him the whole time. He walked us through the whole thing and explained everything in detail. I was the one that was always saying that I'm not ever gonna do this and he put me at ease. We realized that we could do it and so we did. It was a very good experience and I'd recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Marilyn,

    Thank you for leaving a review on Consumer Affairs. It is great to hear we came so highly recommended and that our loan officer was able to walk you through the whole process and explain everything in detail. We appreciate your choice to work with Finance of America Reverse and your recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 10, 2017

    On retirement, our income got reduced and I needed to reduce the bills. We were paying over $2,000 per month and my income is not that high. By reducing the mortgage, we'll be able to pay all the bills. Finance of America Reverse gave us a plan that was very affordable. Their loan officer was very congenial and the guidance given was very nice. Overall, I was very satisfied.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Rohit,

    Thank you so much for leaving a review on Consumer Affairs. We are so happy that the guidance you were given by your loan officer was great and that you are overall very satisfied. Thank you for choosing to work with Consumer Affairs.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 10, 2017

    With Finance of America, we had to go through a lot of stuff. One time, I didn't have this, the next time I didn't have that. The experience was okay, but it was a hassle. It seemed like I had to prove that I had money in the bank and what I proved to them wasn't good enough. I'd get something else and I'd get the bank to sign it. And it seemed like a lot of ridiculous things that were just common knowledge that anybody could look at and see. I started this in November and they sent me the paperwork but then it got pushed away. Then I called them and it took a couple of weeks after my birthday in January to do it.

    I don't know if the guy I talked to was new or what but he was working hard. He stayed in touch with me and any time he needed something, he would call. They were real nice and they did good. It's just more of a hassle than I thought that it was gonna be. Everything's taken care of now. It's just that they're charging $60 for insurance.

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    Verified purchase

    Reviewed May 9, 2017

    I had tried to do a reverse mortgage a year ago, and the mortgage company wanted my tax return and I could not get it done. My husband had passed away and things were so complicated. I was looking online for options and I got to talk to Matt from Finance of America Reverse. I told him about my experience and he said he did not need my tax return. The fact that my house was paid for and they're taking the money out of that, there was no tax liability for me. That reassured me and that was the only reason I went with him. Everything went very well and I'm very satisfied.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Faythe,

    Thank you for taking to time to leave a review with Consumer Affairs. It is great to hear that you were able to receive the information you needed from our loan officer and that everything went very well.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 9, 2017

    My grandma was living in her house and she didn't want to move. It really needed some work and the reverse mortgage was just a way for her to get work done without getting into loans that she could not afford to handle. The agent from Finance of America Reverse himself made us choose them. He was very helpful and answered a lot of questions that we had. We also did counseling and gave us a better understanding of how the reverse mortgage works. They got the loan closed quickly. I would definitely recommend them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Karen,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so happy to hear that you and your grandma had such a great experience working with our loan officer. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 8, 2017

    We needed money for some of the remodeling we needed done and my sister said she had good service with Finance of America Reverse. Some of the documentation took a while because we had already moved out here. It wasn’t easy to get them from where we came from and it took about four or five months to clear. However, they were always nice to deal with, especially the broker. Our experience with them was very good. They went out of their way to try to do what they could to get everything going. They're reputable and explained everything in detail.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Frank,

    Thank you for taking the time to leave a review with Consumer Affairs. We are so happy that you had a good experience with your loan officer and through the process. We strive to put our customers first and do what it takes to make sure they have a good experience and get what they need. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 8, 2017

    I put in a request a couple of years ago and Finance of America was the first company to get back at me. The others didn't call me until a year later. Their loan officer was pretty good. But when I got the first loan notification, I thought it was something else. I realized it was a statement and not just some junk mail, but my wife was saying it's a different name and so I called him back. That's when he explained it and that I will be paying a different company. It could have been better explaining that upfront. But the reverser mortgage of Finance of America served me. The person I talked with was good in getting back to me.

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    Verified purchase
    Staff

    Reviewed May 7, 2017

    I was helping my ex-wife with her refinancing paperwork and called the old company that was taking care of it for her before. They gave us the number for Finance of America Reverse. I worked with their representative and he was very helpful to send us everything to fill out and sign the application. He walked us along, so we knew exactly what we need to do. He advised on the things my ex-wife needed to take care of before she would qualify. He also advised a lot from insurance required and actually got it reduced from which he had before. Finance of America Reverse was very helpful with finalizing it. It took some time, but when all the paperwork got done and everything worked out, there weren’t any problems. It was a very good customer satisfaction from their part.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ron,

    Thank you for leaving a review with Consumer Affairs. It is great to hear that we were able to help out your ex-wife and that everything worked out to your satisfaction. We are happy to serve you.

    - FAR

    Verified purchase
    Customer Service

    Reviewed May 7, 2017

    Everything's been excellent with Finance of America Reverse. They bent over backwards to make sure that we could make the deal because the deal was tight with what I owed on the house and what the house was appraised of. But they did everything in their power to make sure that they could get the deal going and they called me to give me a report on the progress. They really put first their customer primarily rather than their own profit.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Arnold,

    Thank you for leaving a review with Consumer Affairs. We are happy to hear that you feel so highly of our company and your loan officer. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed May 6, 2017

    My wife has cancer and I need the money to pay some doctor bill so I used Finance of America Reverse. The representatives have been real nice and courteous if I have talked to them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Harold,

    Thank you for taking the time to leave a review on Consumer Affairs. It is great to hear that you had a good experience with the representatives that you have talked with and we hope it continues. Thank you for choosing Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaff

    Reviewed May 6, 2017

    I'm 82 years old and I could use some cash and I wanted to do some things to the house, so I got a reverse mortgage. I had one, I just increased it. The first time, it went through in days and everything was rosy. I went through AAG first and then Finance of America convinced me to change over to get it faster and they didn't. I had to do two evaluation appraisals, it was a mad house. When they called me and asked me to change to them, they told me that AAG had sold my original mortgage to them and they would probably do it anyway.

    The guy I dealt with was a very nice guy, his name is Josh. He was very knowledgeable and he explained everything. When I first talked to Josh, he told me the other appraisal was still good. Then after they fooled around for a month and a half, they told me I had to get another appraisal because the first one expired. So I got another appraiser. They paid for that, but I believe I paid for it somewhere along the line.

    I wondered why I had to go through them in the first place and then I find out my paperwork still comes from Celink. I'm sorry I even applied for it. Then Bank of America said I would get $25,000 that I would have to wait for a year to use, and that would be an escrow. I would get $14,000 when the mortgage went through. I get $14,000 when the mortgage went through and $17,000 because they appraised the house lower than the first appraisal.

    I was told I had Federal Pacific and the breakers didn't break. So I went ahead and I changed the box. The only thing was I did it myself and they didn't approve that. They said they have to send an inspector, which would cost me $299, which seemed quite expensive for an inspector. So they sent this electrician and he came and the first thing he said, my house has two electric boxes. They said they needed to replace the one at the other end of the house. Then he proceeded to go into my garage and look at the one that I did, and he saw the equipment in my garage, I have my machines. He said he didn't want to insult my intelligence by looking at the box, so he didn't inspect it at all. It made me feel good, but on the other hand, I got billed $299 for that.

    They said that replacing the other box would cost me $1,400. I replaced the first one and it cost me $400, that had 20 breakers in it. Now this one only had 5 breakers in it and yet it cost me $1,400. The guy was here two and a half hours. So that tells me, he got $400 an hour. I haven't paid the $299 yet because I don’t know why I have to pay twice. I've been trying to get a hold of the electrician but he's always out of town. $1,400 was exorbitant. Nevertheless, now the finance company is trying to get me for $299.

    I also had some trouble with my garage ceiling. I have an electric door opener. So the ceiling was vibrating down because of the electric door opener. My ceiling had been put up with nails back in 1978. I called my insurance company about it and they said it was normal wear and tear which didn't make much sense to me. Now Finance of America decided that I couldn't have the mortgage until I fix that. So they set aside $2,500 to fix the ceiling. The sheet rock has been replaced but they haven't sprayed it yet but I'm working on it. This caused another setback. But when I got the first mortgage, the ceiling was like that and the electric box wasn’t changed. It was really ridiculous.

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    Verified purchase
    StaffLoan Process

    Reviewed May 6, 2017

    My house was completely paid off. My two children have their own houses and had no interest in owning my house. Getting a reverse mortgage seemed the thing to do. I had an extremely good experience and I'm very happy with the way things went with Finance of America. The loan officers I’ve worked with were extremely polite, very knowledgeable, helpful and knew exactly what they were doing. They had obviously a lot of experience doing this sort of thing and have made the entire process quite pleasant. I would definitely tell anybody asking about a reverse mortgage that Finance of America is the way to go.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Donald,

    Thank you for taking the time to leave a review on Consumer Affairs. it sounds like you had an all around seamless experience with your Reverse Mortgage Specialist. All of our Reverse Mortgage Specialist go through many test and certifications to become experts in their field. We appreciate your choice to work with Finance of America Reverse and your recommendation.

    - FAR

    Verified purchase
    Customer Service

    Reviewed May 5, 2017

    I needed money for some home improvements, so I checked into reverse mortgages. When I started hearing about it, I got really interested and I went ahead and did it. Finance of America Reverse made more sense to me and they treated me like a king. It was so easy to talk to them. I had a guy named Clarence and we talked almost all the time. When I pick up the phone to call him, he answers. There were a couple of times when I left a message, but as soon as he got it, he called me right back. Finance of America Reverse really helped out. I’m still living in my home like they said I would and I’m very satisfied.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Elmo,

    Thank you so much for taking the time to leave a review with Consumer Affairs. It is great to hear that you were treated as a king and are very satisfied with your service. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 5, 2017

    My husband had passed away about 10 years and bills were going up, but the money coming in wasn’t helping, so I knew I had to do something quick. I applied for an equity loan from a bank here in Massachusetts but they refused me because I wasn’t bringing in enough money. My husband’s pension and his Social Security was my limit, and I couldn’t bring in my pension. It was at this point that I went on the computer and looked for a reverse mortgage. I happened to be filling something in to see how much it cost and to get that, I had to fill my name and number. Their representative, Tim, called me. After that, I had calls coming left and right and I just said I'm really busy.

    Tim was the first to answer me and helped me all the way. He found a counselor in Brockton, called her up and made the appointment for me to be counseled and she was wonderful. She said that I'm somebody who should be able to get a mortgage due to my age and I said, “Well, it'd be great because I don’t wanna have to sell my house.” Also, considering my income, she didn’t even charge me a fee. So that was nice of her to do that. When I got a question to Tim or if I left a message, he got to me right away. I feel a lot better that I've done this and I would recommend Finance of America Reverse.

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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 is great to know that you were well taken care of and had a good experience with your reverse mortgage process. We appreciate your recommendation.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 4, 2017

    I got scammed and I owed money on my credit cards because of it. Also, I am retired on a fixed income and I had to do something so I went to reverse mortgage. I saw an ad, it was that handsome Tom Selleck. I happen to like him. I figured if Tom was selling it, it couldn't be all bad. It was AAG that I saw that he does and I responded to that. It's been a pretty good experience with Finance of America Reverse and the loan officers were so nice to me.

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    Verified purchase
    Staff

    Reviewed May 4, 2017

    I'm a single man without children and I'm retired so I didn't see any chance for me paying out the mortgage on my house so I went with reverse mortgage. I did try three other companies and it seemed like they couldn't do it. In contrast, Patrick from Finance of America Reverse kept telling me that they could do it and they did. He said that he could get it done in 2016. I signed up in October and there were only three months left then. It was quick how they did it. Also, the guidance I received from them was very good and they had a very positive attitude. Whenever we got the house appraised, he was very positive about it and whatever the price, it was more than enough to have it done. I was having trouble with that before, the house was not appraising for enough. It's really a gamble. I would recommend Finance of America Reverse because they were the ones who got it done and it went real fast.

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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 are pleased to hear that we were able to give you all the information and guidance that you think needed from your loan officer. We appreciate your recommendation and the opportunity to serve you.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 4, 2017

    I have a huge amount of equity in my house and I needed to get a hold of some of that. I'm also going into retirement so I chose to get a reverse mortgage and started working with Finance of America Reverse. When I start working with someone, I usually stay with them if they’re nice and thorough, and their loan officer has been very thorough and helpful. The guidance I received from him was good. He was maybe a little bit too full of himself but he is a salesperson. Since I closed, I haven’t heard from him. I would definitely recommend them but I know that a reverse mortgage isn’t for everyone.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Linda,

    Thank you so much for taking the time to leave a review on Consumer Affairs. We are so happy that you chose to work with Finance of America Reverse and that your loan officer was very thorough and helpful. We appreciate your recommendation and if you have any questions, don't hesitate to reach out.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 3, 2017

    My father just passed away and my mother’s budget wasn’t allowing her to do what she needed done. I did some research online and found Finance of America Reverse. I left them a number, then their representative called me and I liked what I heard. He explained the process very well and I thought it was worth doing.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Jody,

    Thank you for leaving a review on Consumer Affairs. We appreciate you choosing Finance of America Reverse to guide you through the process to help out your mother. We are glad the process was explained and completed to your liking.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 3, 2017

    I needed money and do updates on my home. I went to Finance of America Reverse and I loved their representative, Barb. She's a fabulous person, very conscientious, answered all my questions, and wasn’t pressuring me like some of the others were. Finance of America Reverse has been very efficient, courteous, and patient because I was ignorant to the whole process.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Denise,

    Thank you for taking the time to leave a review with Consumer Affairs. It is great to hear that our Reverse Mortgage Specialist made such a positive impact on your experience. The reverse mortgage process is difficult, that is why we make sure our loan officers are highly trained to walk you through the process. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    StaffLoan Process

    Reviewed May 2, 2017

    I wanted some money and I saw that Finance of America Reverse had good ratings so I went with them. The load officer has done a good job. She kept working at it and getting everything straight so we can get it. We're done with both mortgage and I had a good experience with them.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Noel,

    Thank you for taking the time to leave a review on Consumer Affairs. It is great to hear that your loan officer was able to work with you to get everything done. We are so happy you had a good experience. Thank you for choosing to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 2, 2017

    Getting a reverse mortgage just seemed like the thing to do. The house isn't worth anything after I've gone, I don't have any heirs and the extra cash came in handy. Then I was just researching some of the companies and I got different things emailed then sent to me. Finance of America Reverse was the one I chose and they were very helpful. They were quick to send the information I needed. They explained everything very well and made most of the steps fairly easy. It was pretty straightforward. Most of it was done over the phone and through emails. So, that made it simple.

    It's a long drawn out process although everything went pretty smoothly and I didn't have any problems with it. It's just one of those things that you have to be in a position like mine to make it worthwhile. I don't worry about where the house is going to after I die. I don't plan on moving so you don't have to worry about selling the house. Things like that you have to think of. It wouldn't be too cool to sell your house because then you'd have to pay the mortgage. If you were planning on moving, then it probably wouldn't be that great of an idea but considering where I'm at, it worked perfectly.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Lynn,

    Thank you for taking the time to leave a review with Consumer Affairs. We are happy to hear that we were able to answer all of your questions and provide you with the information you needed simply and effectively. Great to hear that it worked out perfectly, we appreciate your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 2, 2017

    I researched a few places before I decided which company to go with. A friend of mine and I went over different things with the different lenders and she recommended Finance of America to me and they had a good rating. So I ended up picking them. I really like the first agent that was working with me. I was disappointed that they took her off the case with me and assigned me to somebody else. The first girl was right on top. She would return my calls right away, and if I had questions, she would answer. I found that the second agent was lackadaisical with everything. It was a little rough going with anybody who’s doing anything like this but at the end, it turned out to be good. You anticipate a lot. It’s just like going through a regular mortgage. You have a lot of anxiety about it and then questions. It’s a long process but it’s worth it. I would definitely recommend them to a friend.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Palma,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so happy that you chose to work with Finance of America Reverse and that we were able to answer all of your questions throughout the whole process. It is a long process. Thank you for your recommendation.

    - FAR

    Verified purchase
    Customer ServiceStaffLoan Process

    Reviewed May 1, 2017

    We have other family members that have done a reverse mortgage and it worked out for them so we chose it as part of our retirement plan. Finance of America Reverse seemed to be the least amount of pressure on making up a decision. They were not pushy and demanding unlike Quicken Loans. The lady there was very knowledgeable. If she didn’t have an answer to any questions I had, she'd find out what the answer would be and kept me very informed. The whole process was pretty painless and everything seems to be smooth. The company gets monthly statements which really is helpful because I’m a paper person, not an online person. We have already recommended them to several people at work.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Lynette,

    Thank you so much for taking the time to leave a review with Consumer Affairs. We are happy that you chose a reverse mortgage as part of your retirement plan. We know that it is a large decision and never want to be pushy about deciding if it is right for you or not. It is great to hear that the process was painless and smooth. We appreciate your recommendation.

    - FAR

    Verified purchase
    Customer ServiceLoan Process

    Reviewed April 27, 2017

    Finance of America Reverse was well organized and they seemed to be on top of things. They explained everything to me over five different phone calls and they sounded like they knew what they were doing. They gave me all the options, and I had some other questions, and then I made the decision on my own. We worked those out and we were ready to go. It was a simple, easy and smooth process and if it's for you, that's the way to go.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Bob,

    Thank you for taking the time to leave a review on Consumer Affairs. We are so pleased to hear that your experience was simple, easy and all together a smooth process.We appreciate your choice to work with Finance of America Reverse.

    - FAR

    Verified purchase
    Staff

    Reviewed April 12, 2017

    Mr. ** was very courteous and involved. My only complaint was with the appraisal process which caused us costs unexpected and detrimental to our financial condition when it was required that our crawlspace be cleaned out for the appraisal to be approved and completed. With a reverse mortgage, the minimum age for qualification is 62. A review of crawlspaces in the neighborhood that ALL use as storage. Even those younger and not having bad knees or backs had things there. This needs to be addressed up front.

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    Verified purchase
    Staff

    Reviewed April 12, 2017

    Robert ** was wonderful from the beginning and even when things looked bleak in getting my reverse mortgage, he stuck by me and never gave up. He was sensitive to my needs and sincere in his help. I will tell any friend that is interested in a Reverse Mortgage to give Robert a call. Thank you from the bottom of my heart. Without your help I would not have been able to stay in my home.

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    Verified purchase
    Loan Process

    Reviewed April 12, 2017

    Teri did a marvelous job in getting us our reverse mortgage. I would have given her 5 stars if we had gotten it at no cost. However she did do her very best to reduce our closing costs and I commend her for doing so. They were well below the competition. Teri was very astute and detail oriented and explained everything to us to our satisfaction. I would definitely recommend her to anyone interested in doing a reverse mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Alan,

    Thank you for taking the time to leave a review on Consumer Affairs. It is great to hear that you had such a good experience working with Teri for your reverse mortgage process. We are happy that you found our cost to be well below our competition. We appreciate your choice to work with Finance of America Reverse and your recommendation.

    - 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