Finance of America Reverse Reviews

FOAR helped us get our reverse mortgage on an expedited schedule and communicated clearly in each step of the process. Very professional and easy to work with and they went out of the way to be helpful and keep things on track for us. We had a major purchase awaiting the proceeds and needed a tight schedule on this and FOA delivered!

Finance of America Reverse, with representative Brandon **, handled our reverse mortgage with clarity, quick and accurate responses to all our questions and concerns, and a no-pressure speed that met our timeline. Rates and terms were competitive to the other two-top reverse mortgage companies we had queried, with superior terms in certain areas important to us specifically. Representative Brandon ** was a pleasure to work with throughout.

Good during dispensing of money requests, except it took 6 days. The worst imaginable when payoff time came. Closed down portal. No one to chat with on phone. Conflicting letters about extensions and receiving email documents. Just the worst!!!

We had the best experience with Finance of America. Tara was always working for us and getting the best price she could get. She was kind and always kept us in the loop. We have no more mortgage payments plus extra money in our pockets. Thank you so much!

This company is so bad. My mom got this reverse mortgage from AAG in 2022. No problem, no issues. Since FOA took over it’s been so hard if I wasn’t trying to take care of it she would have lost the house. Too much to write but just this week I got yet another confusing email which was followed 2 days later by another email saying ignore the first email. Insurance proof has been sent 4 times by me, even more by the insurance company. Every call is a different story. We tried to refi to add my name, spent hours on the phone dinged my credit and have never heard back.

I had a very poor experience dealing with Finance of America Reverse. To get signed up they were very nice and helpful. I was my mother‘s POA and went through a lot to be able to get the loan in the first place. Once we got the loan, it took three or four different times to get documentation to them that I was indeed her POA even though I signed hundreds of papers in the loan process.

I have been trying to understand this company and AAG (where I started and finished) or so I thought!! I have NOT RECEIVED A DIME!!! When I tried to find out why I was told I had nothing in my account to withdraw. They had kept ALL my money to pay my home insurance and taxes. I am living on SS and am disabled. Worked lots of years but living on less than $1300 a month. It is just me so I have to pay for everything - highlights - can't climb a ladder to change the bulb. $75.00! Can't mow the grass! Price just keeps going up!! My home was paid off and I decided to put it to use in my golden years. Well I have made many calls. The last few were young guys who told ME to call THEM back in a month. Waiting on interest rates to drop!!! Ok. Got a bridge to sell those guys. But I am rambling.

Worst Business Experience in all my 65 years! Rampant incompetence and disorganization! TOTAL LACK of CUSTOMER CONCERN. Loan Officer simply a messenger to try to smooth over all the misinformation. No Process or Procedures. Contacted them in Feb- they missed end of April, May close dates and did not fund until 6/3! Constant paper chase too often find Not Needed! Lots of Equity in my home✅. Excellent credit (738)✅. Verifiable income✅. 65✅. WORST NIGHTMARE BUSINESS TRANSACTION EVER!!!! At one point wanted two people to swear my deceased wife of Four years. Never was married to anyone else nor had kids!!!! (I couldn’t make this up!) Then decided not necessary.

I had a great experience with Finance of America Reverse. I had a wonderful gentleman who helped me and he helped me with the technical, which I'm not too good at, and everything came out fine. I asked a few questions and I got replies from several agents and this gentleman from Finance of America was the sharpest and he was not aggressive, but helpful, and he was persistent. I was impressed with his kindness and sympathy. He was wonderful about going over everything for me.

I started working with Finance of America Reverse and I was very impressed with the way they handled and explained everything to me. They were very helpful and even brought out things that I didn't know I had on my mortgage. I would give them a very good recommendation.

I had a lot of problems because my mortgage was in an LLC. But Dana was my agent and she was absolutely terrific. They're also reliable and they work hard for you.

I liked the way they answered some of my questions. But the application process was somewhat complicated. I had to pay for two assessments which I was pissed off about. I estimated the house to be worth 230 and the first assessment came back at 270. FHA kicked it out and said they wanted another assessment. But the second came back at 288. So, I ended up getting the 270 but I had to kick another 650 bucks into the deal.

My experience with Finance of America Reverse went perfectly fine. Because we had some issues with the estate and the will, it took a little longer. But other than the process with Finance, it went right through. The rep I worked with was with me every step of the way.

I'm well satisfied with Finance of America. There's a lot of paperwork involved. It was like 32 pages of stuff I had to fill out. The loan officer did a good job for me. He did everything that we were supposed to do. It's just there were all kinds of charges that I didn't agree about, but that's the way it was. I didn't have a choice to argue or fight about it. I was about to lose my house in foreclosure, so there was nothing to do but bite the bullet and go on about it. Working with Finance of America saved my house. They're a good company. The people I talked to there were good. Josh was the main guy. He was very good.

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.