Finance of America Reverse Reviews

Their rep Monica was very thorough and got back to me quickly. She had a lot of knowledge about the process. When I needed to get in touch with her, I had her private cell number plus the company number. We had to get counseling and do a lot of paperwork. Uploading and downloading all the stuff was easy. My wife hadn't attained the age of 62 yet and we did a lot of preliminary work. So, when the time came, we could close right away.

They've been very good. I've been very pleased with my results with them. I liked the contact that they gave me. They were very eager to work with me and let me know exactly what they needed, why, and to help facilitate it. Everybody that I've talked to up there has been extremely helpful and they've given me good information that I needed when I needed it. If they didn't know, they found out very quickly.

The rep we spoke to, Tiffany, was so knowledgeable. She has been in the real estate finance business a really long time. She was very well-versed and articulate, explaining everything to us. I had never done a reverse mortgage and I really didn't know a whole lot about it. The only thing that I knew was negative feedback about a reverse mortgage from when it first started in the 80's. We talked to her multiple times and got to be very comfortable with her. She wasn't pushy and she let us make our own decisions which I really liked.

I only worked with one man at Finance of America and he was great. He kept me informed. He explained a couple of questions several times but it was not in a bad way. It was a very good rapport. The application process itself wasn't bad. It was the signing process that was awful. There were just so many different things to sign. Finance of America Reverse has done everything they said they're gonna do. They sent me statements.

I wasn't very impressed with the rep I worked with. He would send over documents without proofreading it. We had an error from the very beginning that never got corrected. I really felt like he was too busy to really review what he was doing. Then, when it came to actual documentation of income and stuff like that, he was very flighty with it. We have enough income, so I wasn't concerned about that even though it didn't factor into the loan as far as I know. It's just to know that we could pay our taxes and insurance. But he did not hit me as a player. I've dealt with a lot of people and unfortunately, he didn't measure up to what I'm used to.

I did a reverse mortgage with Finance of America Reverse and it was good. The lady I dealt with was very pleasant and helpful. She gave me her cell number and I could call and ask her any questions about anything. She was really good. I was unfamiliar with the reverse mortgage because the existing reverse mortgage was done by my parents 20 years ago. The process was a little tedious for me just because it was my first time. There were some holdups getting contractors and the people to come over to do the estimate of the value of the estate. The whole process two months.

I got on the phone with Finance of America Reverse, read through the package when I got it and then started the process. It was very involved. It was nice that I worked with somebody who understood that my mom was in the background most of the time. But there were situations where she had to be on the phone with me during the counseling sessions. The first time was with my mom and I prompted her through everything, and that went okay. Then, once they understood the will part, the beneficiaries of the trust are my brothers and sisters, which means they are the owner of the house, so they had to go through the same counseling session. So I had to get five of them on the phone at the same time.

Finance of America Reverse specialize in the reverse mortgage as opposed to several other places that I saw and I had a very positive experience when I reached out to them. I asked the questions that I had, and the representative answered them and guided me through the whole process. I didn't expect the application process to go so quickly.

They've sent me a lot of paperwork just off and on and how the loan is looking. The guy I dealt with was John and he was great. He was very friendly and helpful all the way through the package. The process was all pretty cut-and-dried. But the underwriters were a little too nosy for the time I've been in this house. I didn't like some of the questions I had to answer. But the broker I was dealing with explained it to me and was not forceful at all. He was very, very friendly. So he got me through it.

When I put some feelers out, I was contacted by Finance of America, and the person that I was contacted by was Linda. She is absolutely marvelous. She's very friendly and extremely knowledgeable about the entire process and what a reverse mortgage is. She was one of these people that when you talk to them, you kind of hit it off immediately. Throughout the entire process, any time I had any questions and I would contact her, she was always available, and she'd answer my questions right on the spot. She didn't have to say, "Well, let me get back to you and find out." She knew what was going on.

The rep with Finance of America Reverse was very good. The process went real fast. He even said it was the first time he'd ever done one that fast.

I increased the amount of my reverse mortgage, and it didn't take very long for the application process. It works well. There was some training that took a while, but that was not Finance of America. That was some other agents who had to do that. I ran into some health issues during the process, and the rep I worked with was very patient with the problem I was having trying to get the information together because it involved my eye, and I couldn't read very well. She was very helpful too. She told me that I had to hurry along and try to get it done as fast as I could because changes in the marketplace might be occurring. Finance of America did a good job, but the reverse mortgage is too expensive, and I didn't get as much money as I wanted.

The gentleman that I negotiated with had a very good attitude about all my questions. He was a friendly fellow to speak with. He was willing to help me and be understanding of my situation. I've gotten my initial payment from Finance of America Reverse, and it allowed me to pay off a lot of outstanding bills that I had.

Finance of America Reverse was very responsive to my needs. I doubt I could have gotten any better support than what I got from FAR, from the guy that I originally contacted. Every time I put a call to him, if he didn't answer the phone, I'd leave a message, and he would get back to me quickly. He would send me texts instead of calling up when he was trying to update me on where things stood and when to expect something. He was very attentive. Even when he was out of pocket for a short period of time and something came up regarding my mortgage application, another individual from FAR contacted me.

The process could have gone faster than it did had I kept the process moving. I took time off to do some thought. But it was fast enough. I enjoyed the work with the rep. She was friendly, helpful, and had a good sense of humor. And Finance of America was very swift in responding. The terms and rates were on the market and timely, so very competitive. Finance of America made me go through the education process again. And the person that I chose was also very helpful and pleasant, answered all my questions, gave me some things to think about, and was timely.

The lady that I was talking to was very sharp. Then she called me back and we got along very good. She was very nice and I liked her from the start. Everything went well. It was a good deal for me.

I've got flood insurance with my association where I live. We're all covered for flood insurance. It was a lengthy process, and the young man was very efficient. Any questions I had, he was upfront about it. He told me about this monthly fee I would pay, and he was excellent. The only thing I'm disturbed with is the appraiser appraised my property at 270. And they were selling for over 300. So, I don't know where he got that figure from. However, I got a $15,000 payout from reverse mortgage. I'm happy to get the money. But I'm shocked that every month, the interest is $1,400. I should have checked into that a little more. I know the interest rate was 9% or 8.5%. But at my age, I didn't do the proper arithmetic. So although I get $15,000 from mortgage within a year, they're getting that back at $1,400 a month. After they get their money back, I would start paying a mortgage.

The process was a little hectic because my rep Scott is so far away. But everything went smoothly and I've been really happy with them. The counselors were very knowledgeable and tried to help with any questions I asked. Scott is the best thing that ever happened in reverse mortgage. He has a great voice and he knows how to get things done.

The lady who did my loan, Nicole, was fantastic. I didn't have anything to worry about. She did a wonderful job and listened to my needs. She worked with me to make sure everything got done in a timely manner. She instructed me on what I needed to do every step of the way. I really sensed that she cared about helping me and the questions I asked her. She always got back to me with my information. The rate I got was a really good deal. I'm very happy with them. I'd definitely recommend Finance of America and Nicole.

I've been very pleased with Finance of America. Josh, the loan officer I worked with, put things together for me and he was awesome. We started on all the proceedings and went from there. We never had a timeline, but everything progressed as it should have in a very timely manner. In the beginning, I did not take all the funds that were available to me for the first year, and now, I've decided that I would like some more of them. To find out if I can withdraw some more, I tried to contact Caroline with Finance of America yesterday, but we weren't able to make contact. She and I were busy. Hopefully, I'll be able to make that happen today.

I contacted the number on their site and spoke with a young man who told me that at that time, the interest rates would be around 9%. So I decided to wait a few months and then he contacted me again and told me that they'd dropped down to around 6. We didn't know where property values were going to go because it's always iffy. So I decided it was the appropriate time for me to go ahead and I trusted the rep. He was a very knowledgeable young man and worked for a company that I trusted. It went very well. The whole process took just a few weeks. I'm 84 now and I feel confident that I did the right thing. It’s impacted my life to the extent that I'm not stressed about it.

This company continues to increase its fees and interest for an 80 year old woman, now $2250 when it was $300 initially. Our country's interest rates are decreasing and when asked customer service to justify I receive no response. I know she has an adjustable rate but Fees and interest have increased EVERY month sometimes as much as $200 each month without ANY explanation/justification. I'm hiring an attorney. Do NOT let seniors sign up for this, total scam. When asked to produce legal binding documents my mother signed, received no response! They are stealing my mother's money! No wonder why they receive 1.8/5 stars. They are crooks who poor seniors fall prey to. Please help stop this senior abuse. This company is unethical charging 7.8%. My mother has no idea what is happening and how much she owes or why.

I liked the person that I was dealing with at Finance of America Reverse better than any other company I dealt with. I dealt with about five of them at the same time. The application process was fine, timely, and simple. The person that represented them was very knowledgeable. If I had a question about something, Johnny-on-the-spot, they answered it. They followed up on everything. The stuff they wanted was reasonable and easy for me to produce. It was just an easy process. I only wish I had done this earlier. The rate would have been a lot lower. But it was better than what I was quoted from anybody else. I’d give others the Finance of America guy's phone number and name that took care of me. If they just call him, things will be taken care of.

As a customer, I'm shocked by what has transpired on my mortgage with Finance of America Reverse LLC. I received a letter stating my loan was in default and headed for foreclosure....over $85.00. My insurance is current as are my taxes, so??? After contacting the lender, they explained my insurance had lapsed for 28 days (??) IN 2021! The $85 was lender coverage they added. I said "If I didn't pay the $85 the bank would move to foreclose". I asked if I could pay it now over the phone? No, I needed to go to the website and fill out a form to confirmed I live in the home (they would foreclose on for $85) and then I could call back and pay.... Thanks for making it easy.

Finance of America Reverse sent us an email with information that started the process for us. We communicated by email and telephone and did a lot of signing with DocuSign. Later on, we met with a person and did the actual signing. We had a great experience. They were there for us when we needed some guidance. We don't know anything about reverse mortgage, and they were able to guide us through the steps, explain the program, and assure and reassure us about the program and what happens after so many years. I'm glad we decided to work with them because everyone that we had dealt with over there are very knowledgeable, patient, and thorough, and we appreciate that.

I worked with Rich and he was terrific. He was prompt, kind, personable, and helpful. He made it work and got through all the hoops and stuff we had to go through. He did it with some class and dignity. It was a hard process but we got the reverse mortgage. It wasn't as good as we had hoped for but the big pitch for me is that I get to live in my house, which I dearly love, until I pass away. That's a significant change in retirement.

The representative that I worked with at Finance of America, Jonathan, was fantastic. He always kept me informed. If he asks for something, I got it to him and he's thankful. I could call him anytime. The counseling was good. I've been studying these for a couple of years, so if I didn't know so much, it would have been really a lot of knowledge but I loved listening to it. I really had a good experience and we're very happy, and we had our money there if we need it.

It went great with Finance of America Reverse, although the process was kind of a long, complicated thing. I made a phone call and I was told to call a counselor. I got counseling and I talked to my agent and it went very smoothly. She tolerated my ignorance to the loan process and she was very understanding. Everything went perfect.

The reps gave me all the information I needed and helped us a lot through the process. It took a while because we had some things that had to be ironed out but we got there. Finance of America Reverse is very good though I'm not happy with the rate. But they said maybe down the road, something could be done about that.

There's a big difference between Finance of America and our older reverse mortgage. There is more communication. The counseling was fast. We're dealing with Ali who is a very nice person. He is consistent. But when my husband has a question for him, we ignored the question because it seemed we already knew the answer.

So far, everything's been great with Finance of America Reverse. John was excellent. He was so nice, very personable, and I felt very comfortable. He never pushed me about trying to do the loan. The application was also simple. I just gave him my information. They were really quick.

I had a very smooth experience with them. It was done quickly too.

Getting my mortgage through them was a long process. They gave me some preliminary information and then I had to take a one-hour certification course online on understanding reverse mortgages. My wife and I did that and sent all the information to Finance of America. For the closing, they got a notary that worked with reverse mortgages and we signed all the papers with the notary. A month after that, we were notified that the paperwork was incorrect. We requested to have my wife as a non-borrowing spouse because she was below the minimum age. Otherwise, if something were to happen to me, she would not be able to stay in the house. It was the bank's fault. They had the wrong box checked. Unfortunately, you can't just go back and amend that because it's government-financed. So, we had to go through the process all over again.

Finance of America Reverse was very good about getting back to me and answering all the questions that I had. They were okay with me taking it at my pace instead of trying to rush me into it. The process was fairly easy. You just let them know you're interested then they start sending you the paperwork. It took some time because we had to get an appraisal. There was some work that needed to be done before that was cleared. But the rep was very good about following up on questions. If he couldn't answer, he would find the answer then call me right back. He was very knowledgeable about all the numbers that were on the papers that they were sending me and could explain everything. He was personable and was willing to listen to situations in my life and say, "That's not a problem. We'll work around that."

The application process was fairly easy. We were in a special circumstance, so the whole took about 4 weeks. The loan officer was understanding and easy to deal with and responsive. The rate was outrageous, but it's adjustable. But I don't hold it against Finance of America Reverse.

The reverse mortgage was for a friend of mine and I assisted him. The application process was lengthy but it was simple enough for what we were doing. Overall, it was workable. The interest rate got a little higher than we had hoped it would be because the country has gone to where it has gone in recent months so it was not the fault of Finance of America Reverse.

After dealing with a couple of people that gave me trouble, Finance of America explained the whole process to me and what I needed to do. The process was very smooth. My bank account got hacked and cleaned out but they were able to go around that problem to complete the mortgage. My rep was marvelous. She explained things to me in detail, showed me how much money I would be getting back, and how it was best to work. I had some business loans outstanding, and it was best to leave those in place and pay those off a little at a time so as not to damage the equity I had in my reverse mortgage.

We contacted Finance of America Reverse directly and they assigned me a rep. Heather was fantastic and she streamlined everything, which is what we needed. She was organized and persistent in a good way. We started before my dad died, and it was too hard right after to finish. There was too much going on. She was patient with us, and we had a couple of false starts getting going, but once it was time to get it done, she helped me help my mom.

They had the best program for us. There were lots of paperwork as usual, but it was manageable. The loan officer was really good. She was responsive, got back to me quickly, and had full access. I was happy. Everything is cool. They're required by law to call a third-party consultant and have them help you review all the documents. So calling the third-party consultant and paying for that was a big help too.

I called Finance of America and talked to Adam, and it was a great experience. My deal took quite a while because I had some problems with my credit account through no fault of my own. I had helped my son buy a pickup truck and I was on the note. He was making the payments but the bank that held the note sold the note to another bank, and we weren't told about that. In the first loan, they were automatically withdrawing payments for that truck. When they sold it to another bank, that bank didn't inform us that anything had changed and they weren't taking out those automatic payments. My son's wife who pays the bills didn't notice on the bank statement that those automatic payments were not coming out. All of a sudden, we get a letter saying, “We foreclosed on that truck ‘cause three payments hadn't been made.” My credit rating went from 750 to 605.