Finance of America Reverse

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.

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 over Finance of America Reverse and got information from them and figured that it was a good program. I wanted a line of credit and it seemed to be the kind of the thing I could do without having to qualify. They appraised the home and sent me a term sheet, I agreed to those terms, and they moved forward to get me the loan. Once I filed the application, it was approved quickly. I was gonna reach out to the rep and thank him for everything he did. He was amazing. He just told me straight up what he needed and it was just that. He didn't make any promises that couldn't be kept. It was easy. He explained everything to me well. He undersold it and over-delivered.

The agent we worked with was very nice and on top of her stuff. She made it very easy to send her what documents she needed, and she did everything on our behalf. Some of the documents, she pulled from the Fairfax County public records. We had to prove that my mom currently lives there, which she has lived there for 30 years, and that wasn't very difficult.

The process was fairly simple with Finance of America Reverse and it took four weeks to complete. It was straightforward and we did the closing in my home. We had an attorney. There were some questions, they got answered, and we proceeded with them. There were closing charges which were acceptable and the rate was acceptable, too. The loan is for the short run while we want to stay in the house that we're in in New York for another couple of years, then we're going to be selling that house and paying everything off and coming down to Florida where I am now. Our rep, Monica, was nice and very helpful. She answered my questions and she was a good communicator.

Finance of America Reverse tried to make the process as easy and automated as possible. Everything was done mostly online except for a couple of things where they sent me a FedEx envelope to put information in and send back. The rep I worked with, Dana, was really wonderful. She explained everything and walked us through it. I was doing this for my aunt and it took a long time for her to make up her mind but Dana was very patient and knowledgeable. The only thing is I would have preferred if the lady that came to the house when we closed worn up her mask. My aunt is 97. Also, I'm not happy with the rate. So much changed from February and March and towards the end, it started to increase so we ended up with a different product just to get my aunt the same amount of money. The interest rate is much higher than we wanted.

I had a relationship with Finance of America one other time years ago and their service, attention to detail, and customer relations are fantastic. I dealt with Ernie and if I can say years ago and remember his name off the top of my head, that must mean something. That's a good sign. This time, Scott handled our reverse mortgage and he was every bit as perfect as a banker relationship guy could be. Both of them were really very professional in what they presented to the customer and how they helped the customer through various issues.

The whole thing had me pissed and stressed out. It was aggravating. If I sit up there at closing, they say, “Everything is done. You don’t have to worry about the insurance. Everything is fine.” But when I sit up there and thinking I'm about to lose my insurance, and my insurance company called and telling me to pay out of my pocket, I had a problem with that. I didn’t like that one bit.

The rep I was working with, Kevin, was very pleasant. But the amount of money I got is not much. Also, the interest rate I'm being charged makes this look like a very bad investment.

I liked the agent I worked with at Finance of America Reverse. I got along with the agent. Primarily, the process was done over the phone. I faxed and photocopied a few documents, but it was much simpler than I anticipated. We own our home outright, and we were about to start having issues with paying our property taxes. The reverse mortgage was the best way to go. It's helped immensely.

Finance of America was very good, professional, and responsive. It was a lot of information, but it's necessary if you wanna go through it. A lot of redundancy is included. It's a big pain in the neck. It could have been done more efficiently. But the rep was efficient almost to a point of excess. He was right there for us. He made sure we understood exactly what we were doing, and he explained it in a very thorough and quick response way. I was happy with him.

Finance of America Reverse appeared to be the best deal. The application process was rather easy. I put in everything that I needed to do and there was a callback. I talked to the agent and he was very upfront with everything. Everything sounded good. The agent that I had was based out of New Jersey and closer to where I live, Pittsburgh. He was excellent. It was a little rough on the rate. I still have to contact Finance of America back because I would like to pay back what I can when I can. Other than that, everything was on the up and up and satisfying.

I had a very positive feeling with Finance of America Reverse, and the people that I dealt with were very professional. They did their due diligence and they were always there for me. They responded quickly if I left a message and I like that because, normally, with any other company, you have to wait for 25 minutes. You're lucky if they call you back the same day. So, I was very pleased with that. The application process wasn't that difficult. It was very specific. I was glad when it came to fruition.

The process took longer than I expected. But the reps were good to deal with. I did a revocable trust which made things a little more complicated but they treated me well. My rep was very helpful.

The beginning was easy and fairly quick, but when it got down to the underwriters, they seemed to find a T that wasn't crossed or an I that wasn't dotted. That was a fairly long process somewhat, but it was still done within the time frame that they said they would do it. Barry was the man representing the company, and he was very efficient. Overall, Finance of America Reverse accomplished what we were trying to do. The property was appraised at far more than what the value is but everybody else seemed to say the appraisal was good. The only strange thing was I got a phone call from someone that was handling the complaint that had been filed against the appraising company. They asked me some questions about who and what.

I liked the person I was dealing with. This kind of stuff makes me anxious, but she helped me a lot.

Everything's been ok so far. It was a lot of process but Finance of America Reverse has good people. They helped me a lot.

I hated the little nitty things that I could prove that this has been my major residence during the period of the loan being active. They were snots. When you deal with people especially if they might be in trouble or compromised, don't come on like a bully and over-threatening. You start off with a little sympathy or politeness. They were saying, “We're gonna cancel your account in two days if you don’t do this.” I would suggest a little more polity and decency in dealing with customers. They were also cursory during the counseling. They talk in a few short sentences per question. But I have recommended Finance of America Reverse and resorted to them a second time. The paperwork was such that even though I went through the mill to satisfy all of their information needs, they got it ready to go. But my first check was supposed to have been delivered on the first of this month, and I didn't even know that. I called and told them I needed the money.

We did the application with Finance of America Reverse from home. So, it was easy. It was not too long and drawn out. The lady who came with the application was wonderful, too. We met a lot of nice people that helped us. Linda, the advisor, was awesome. We could call anytime and get any information from her. She was patient with us and took the time to explain the things that we didn't understand.

The application process was difficult and frustrating. It could have been made a lot easier. There were some things that were not covered by the initial consultation and it should have been more thorough on the what-ifs. Also, Finance of America seemed like they had multiple departments there that weren't talking to each other. One would send me a letter saying I didn't do something but another would say I did it fine. It was not a pleasant experience. At the very end, they said that the whole thing would be canceled if I didn't quickly run to the bank and pay $100 in fees. They didn't know that I had paid the taxes on the property, so they went ahead and paid the taxes, which went over the estimated amount and the estimated amount of fees. It was so disorganized.

Alex, the rep who called me from Finance of America Reverse was tremendous. He walked me through the process and it was a lot easier with Finance of America than it was with the other company. Rather than the HUD loan, I took a proprietary product that they offered. I truly didn't know what I was doing but I trusted Alex and talked to my counselor about it. So, it went well for me.

The application process was time-consuming and it was a lot paperwork. But the gentleman that I dealt with tried to do his job and make it easy. The communication was good and I had a direct line to him. Finance of America Reverse has given me a different perspective on financial. I'm able to do a few things around the house and make some changes.