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).

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

Finance of America Reverse Reviews

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    Page 9 Reviews 1240 - 1440
    Verified purchase
    StaffLoan Process

    Reviewed March 22, 2019

    I put in a new ref and needed to get some work in and around the house, like get the roof done, so I got a reverse mortgage with my retirement plan. Finance of America Reverse did a fine job. The gentleman I talked with helped me through the process and told me what I needed to do. However, I had to get a second appraisal which I had to hold back on because I had to do some work on my house that they wanted to do. It took three months but the guy came right out and it was no problem. Another thing is that their closing cost was expensive. I wouldn't have done it if I wanted to leave this house to the kids, but my two boys are in fine shape and don’t need this house. I got enough money to live on before the mortgage, but if it came down to emergency situations, I really didn’t have a lot to back up my account.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed March 21, 2019

    Finance of America Reverse has a local person in Indianapolis and I got a reverse mortgage from them. The process was simple and the application and underwriting took less than 8 weeks. The rate and terms were okay. The loan officer was professional, punctual, and polite and our interactions were very positive and pleasant. Communication was excellent too.

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    StaffLoan Process

    Reviewed March 20, 2019

    A reverse mortgage was excellent for us. We were moving from Texas to Canton, Georgia, and we were able to get a similar-size house, not downsize and not have a house payment. I previewed four other finance companies, and the gentleman that I worked with from Finance of America Reverse was very thorough and gave me the information that I asked for quickly. He got me an estimate of what it was gonna cost and how the process was gonna work. We had an incident at closing where there was a lady that was very inefficient, caused a whole lot of trouble and almost delayed the entire closing, but FAR got all the information back on track.

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    StaffRates

    Reviewed March 16, 2019

    I refinanced the existing reverse mortgage, which was with Finance of America. I thought I was dealing with another company previously, but I came to find out that Finance of America Reverse is one of the two big ones that controls the market. When I dealt FAR directly, I spoke with a young lady who was very knowledgeable. Her name was Jill and she was very thorough and seemed to actually be on my side for a change, rather than be an opponent as many finance companies are. So, she was very cordial in that manner.

    Jill had some form of integrity that was very pleasant, and that's some word that I can't refer to other companies, utilities or anybody else. FAR's rate was 2 points lower than Longbridge. Longbridge was at 71, but I got 69 at FAR. I use the money to invest in gold and diamonds. It was all put back into that. I'm more than happy with Finance of America Reverse. They treated me fairly. I've recommended them to my neighbor and to a distant cousin.

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    Customer ServiceStaffLoan Process

    Reviewed March 15, 2019

    I called several companies that did reverse mortgages but Finance of America Reverse was the first one that got back with me. They were willing to talk to me over the phone, take information, and not prolong it. I thought the application and underwriting was gonna be done in three weeks, but it got prolonged to about four and a half weeks. Still, I was very pleased.

    Also, I thought the process would be scary. I've never done anything like that before and there is so much red tape. I kept thinking, somewhere along the way they were gonna say that I don't qualify. I was so relieved when it was finally all agreed upon and everything got settled. The loan officer was very nice, cooperative, and he kept me encouraged all along. He said to not get discouraged and that everything was going well. Everybody was very nice, except for one assessor. I live in an old farmhouse and they had to assess the property twice. The last assessor that came by didn't like country. His attitude was a little cocky. Although he wasn't mean, he was not as nice as the other guys who had been here.

    Nevertheless, the guidance I received from Finance of America Reverse was very good. They weren't pushy about anything. I was the one that was in doubt and asked a lot of questions and they were always there to help. Also, the reverse mortgage changed a lot. I'm still in the process of getting everything paid off and it will take a couple of months before I get to a point where I could breathe, but now I have a little bit money leftover. Things are getting better and better every day. I would recommend Finance of America Reverse to anybody. In fact, I have a lot of older friends and I told them that I know how to get in touch with the right guy.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed March 14, 2019

    The ConsumerAffairs website helped me decide to go with a reverse mortgage. I saw that Finance of America Reverse was trustworthy and that they were not hiding anything. They were also very accessible and did what they said they were gonna do. Everything was very simple with the application process and their rep was always available to me. It wasn't a chase where you have to leave messages and nobody calling you back and rigmarole. She was on it and she kept me informed. If something didn't happen by the time she said it was gonna happen, she would call me and let me know. It was amazing. The rates and terms of the mortgage were very good and we were very happy.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed March 8, 2019

    I worked with Finance of America Reverse and the idea was that they would pay off my taxes on the home as well as the homeowners insurance, plus, give me line of credit to use for whatever purpose I need it. Steve was really good and he helped me out. Compared to other lenders, he gave me more information on everything and he was right there helping. And that worked out pretty well. The process wasn’t difficult as I just had to follow the steps, and it was faster than I thought. As long as I had the documents needed, it went through quickly. Steve explained the different documents and the reason that it has to be that way. He made the transition pretty every day. Plus, I can call him for questions, and he communicated very well. It was no more than a month before the whole process was done. The rates that I got were decent, and looking around, the rates at this point were about the same everywhere.

    The only problem I had was that my homeowners insurance was due, and I had to call in and let them know. They explained to me what happened, and they took care of it. They're on the ball and they made sure that if there was a problem, I could talk with them and they were pretty good. Since I worked with them, I'm living my best life.

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    StaffLoan ProcessRates

    Reviewed March 7, 2019

    We felt comfortable with Finance of America Reverse. They were very kind, knowledgeable, and they explained to us. The process of getting the mortgage was simple and easy, and it took three months. We were really pleased with the rates and terms of the mortgage that we received. Working with Finance of America had made our lives easier. I would refer them to my friends.

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    StaffLoan ProcessRates

    Reviewed March 6, 2019

    Finance of America Reverse had the best interest rate and my loan officer was good. I was comfortable with him and I felt like he was being honest with me. He sent me paperwork right away that I could see. But the process of obtaining the mortgage was a pain in the neck. It was long and drawn out, and there was too much paperwork. Other than that, working with Finance of America Reverse has helped out because we needed help with being able to do certain things with our house, and we wouldn't have been able to do it if we hadn't gotten a reverse mortgage.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Thank you for sharing your feedback, Penelope. We will continue to work on ways to make the process of obtaining a mortgage easier for our customers.

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    StaffLoan ProcessRates

    Reviewed March 5, 2019

    I liked the experience I had with Finance of America Reverse. It was good. The steps that I've taken in getting the reverse mortgage are normal steps that one would take. There was an appraisal and they had a company that tried to list me through the reasons. The application and underwriting process took a significant amount of time, and it was about more than three months. I also think they really need to go back to the way they did appraisals before rather than using comparable because it does not really tell the true value of a home.

    My loan officer was very helpful. He took an interest in the project and in me, and I liked that. Also, it was a very good idea that they reduced the rate and it was reasonable. Working with Finance of America Reverse has assisted me in having some resources that I probably would not have had without it. If I had gotten a mortgage, I would be making payments each month, and it could cost some anxiety. I'm at home. I have reached a stage in life where I'm not as active as I once was, so not having to make monthly payments is very important.

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    Staff

    Reviewed March 4, 2019

    We had a reverse mortgage before and we planned and never moved. However, things changed and we needed to move, and everything went smoothly. We went back to the same company but they didn’t do the manufactured homes that we have now. So, we looked around until we found Finance of America Reverse who took care of us well. They were wonderful. Ellen, the rep, kept tabs on us the entire time and helped us through it. A manufactured home was a new experience for her too. The application and underwriting process took a couple of months because we had a lot of different things to deal with that Ellen never had before. Still, she always kept us up-to-date with good news, bad news, what was holding it up, what they needed to know and what extra things that might have been needed. We were very happy with the outcome of the reverse mortgage and we were very pleased. I would recommend Ellen and I kept her card.

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    Customer ServiceStaffLoan Process

    Reviewed March 3, 2019

    Linda is 72 and she has Parkinson’s disease. She worked as a caregiver all of her life, so she didn’t have much option once the Parkinson’s started to kick in. She couldn’t work anymore and she couldn’t drive to work. And she wanted to prepare for her future because she doesn’t have a family. She doesn’t have anyone that would take care of her as she declines. So, I helped her with her reverse mortgage application.

    We did some research on the internet about rated companies and called a few different ones. Then, we happened to encounter Scott at Finance of America. He was very knowledgeable and very helpful. Most people in that age category wouldn't get to the point that would qualify for such a thing and couldn’t match the paperwork if their life depended on it, which it does. Also, with anything that’s involved with the government, there were so many documents and so many words involved in the process that made it next to impossible for anybody that’s declining or doesn’t have computer skills or what have you to go through the process. But Scott helped Linda simplify the process and he really walked her through it. It made it a great help that he knew how it worked. He could answers questions and could tell Linda where and how to get documents.

    He's been doing mortgages for a career for a long time and he's been doing reverse mortgages for about 12 years. And Linda’s situation was kind of difficult because you have to qualify to show enough financial income to get the mortgage, which to me was hard to understand because reverse mortgages are for people who are retired and don’t have enough income. So that right there seemed to prohibit a lot of people that would have the greatest need. They'd have to show enough income to make payments, although you're not required to make payments.

    And Linda’s difficulty was that, at some point, she was gonna have to stop working because of what she was dealing with. But Scott was able to explain to her in a timely manner what documents to get together, so she was able to complete her application before she got to the point that she had to quit working. She submitted the documents at the end of November and they were approved January 15th. So, the process was completed in about six weeks.

    The other thing was that the reverse mortgage has been managed by Celink, a servicing agency, and in the beginning, we didn't know that it was gonna be passed on and to who it would be passed on. Once we found that Celink was gonna be the servicing agency, I looked it up and they had a good reputation. But they don’t have any online access to your reverse mortgage account and I couldn’t believe that. They said that their average client is 82 years old and doesn’t use a computer. That’s understandable but at 82 years old, you probably have a family member or a friend like me that would be doing all this for you. And to be able to make payment against the reverse mortgage or get withdrawals, you have to send in paper forms. And it seemed highly suspicious to me that you can't access your own account.

    So, I called Scott, told him all this, and he was kind enough to contact Celink. Also, another staff member there that deals directly with Celink contacted them and asked them about it. They did say that indeed that's the only way they process loans currently, but that later in the year, supposedly, they're gonna have computer access.

    Other than that, we felt that we got a very personal service from Finance of America. We dealt with the same person all the way through the process and we didn't have to wait on hold for a million hours. In those kinds of financial dealings, people aren’t allowed to speak about somebody’s finances with anybody else but Linda told Scott that it was okay that he talked with me because I was helping her. And after that, he was able to talk with me and he didn’t every time say that Linda had to be present, ask if Linda was online, or that he couldn't talk with me. It made a world of difference because most people couldn’t do this on their own.

    Also, Scott remembered when I sent him an email and he called me back or he'd send me an email back within the same day always. He'd say, “To Shelly and Linda.” So, he was excellent to facilitate the process, especially for older people that don’t understand the process or don’t even know where and how to get some of the documents.

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    Rates

    Reviewed March 2, 2019

    We have a house that’s paid for and last year, we had a lot of unexpected expenses. So, getting a reverse mortgage would help ease the burden. I got replies and information from quite a few companies and Mathew at Finance of America Reverse did a great job of following through and providing me with information. It was also fairly easy to get ahold of him whenever I've had concerns. Then, Finance of America Reverse kept matching or bidding any other offers that we got. The application process was fine. You go through a lot. We had to get two appraisals, so it took about a month. It would’ve gone faster, but the FHA required two appraisals. The rates and terms I got were pretty good, as well. Ultimately, working with Finance of America Reverse helped relieve some strain on our finances.

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    StaffLoan ProcessRates

    Reviewed March 1, 2019

    We did a refinance with Finance of America Reverse, which gave us a 1.5% interest rate reduction. They had better service, but the best incentive was the pricing. The underwriting part was a little bit difficult and took a couple of months. Because the property is jumbo, we were required up to two appraisals. But there was a 1.5 million difference between the first one and the second one. That represented more than 25% difference.

    The policy requires that they only use the lower appraisal to underwrite and I don’t agree. If I was the lender, I'd request another one. I'm not very happy with the process of appraisal. But the loan officer was very quick and understanding. He asked us to pay a couple of the policies, which was the difficult part and we understand. He was super and without him, the loan wouldn't go through.

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    Staff

    Reviewed Feb. 28, 2019

    I liked Finance of America Reverse. I love their rep, Toby. The first thing I had to do was I had to fill up some papers to make sure I knew what was happening. I chose a company that was in Utah, and then I talked to Toby. He spoke to me upfront and they sent me all my papers, and I faxed everything. And it was not like buying a house, but then I owned my home.

    The counselors were also all very, very nice and very professional, and I was happy. Toby walked me through every stage. And if I have any questions like I did the other day, he’s faxing me some papers. Now, the only thing is that he told me I should have received an update every month. Having gone through all my mail, I didn’t receive anything. Nevertheless, the reverse mortgage has relieved a lot of burden for me. I would suggest talking to Toby. I would like to let him know that I really appreciate everything.

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    Loan Process

    Reviewed Feb. 27, 2019

    Finance of America Reverse had more to offer and they were better than anybody else. Diane put the whole deal together and she knew what she was doing. Working with them let us do some things that we wanted to do. The process took longer than I expected, but it all went okay.

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    Customer ServiceStaffLoan Process

    Reviewed Feb. 26, 2019

    I got a call from Finance of America Reverse and reverse mortgage sounded like a good idea so I went with it and it saved me money monthly. The representative was very nice. I've signed so many documents and I was given copies of the documents, but they were unsigned. I'm not even sure yet what I've got here. So, I've got a stack of papers here that I just don’t know what to do with. The process is much more complicated than a regular mortgage plus, they're out-of-town and that makes it more complicated. Nonetheless, I'm glad they called me. I think it's gonna work out well for me and I'm happy with that.

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    StaffLoan ProcessRates

    Reviewed Feb. 26, 2019

    I’ve been retired for 14 years and things are getting tough, so I chose to do a reverse mortgage. Finance of America sounded the easiest and the best to work with. The application process went fine and it was simple. It took about a month and it met my expectations. I worked with Scott and I was impressed with his efficiency. He wanted to get things done expediently. I went through the process twice before and I was denied, but the reason it was denied was we had a different residence and I lived in a commercial area. The home that I was in was rated commercial, so on that basis, they wouldn’t give me the reverse mortgage.

    The appraisal and the rate of the reverse mortgage that I received were low, but I feel that I got the best deal that was available. Mutual of Omaha also gave me an appraisal and it was very similar. In fact, Finance of America was a little higher, and that was another deciding factor. However, I don’t like the way the money is distributed now. When they first did the reverse mortgages, it was one lump sum and it was a greater amount also. Nonetheless, working with Finance of America has made me feel a little more secure. As far as taxes and home repairs go, I am covered for a while.

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    Customer ServiceStaffLoan Process

    Reviewed Feb. 25, 2019

    A reverse mortgage had been something that was on my mind for a while. It looked like I had a lot of equity in the building, and I thought that at this stage in life, I should probably take advantage of it. One of the advantages is something fairly unique in that I have all my insurance and my taxes all prepaid for several years. In case I should develop some kind of a mental impairment, then I will have these things working for me. And I’ll always know that the taxes and insurance are paid here. Other lenders seemed to put me in a position in which they saw other clients more interesting. Mine was not a huge amount of money that I borrowed, so I wasn’t getting the recognition from other lending organizations. Diana, the lending officer from Finance of America Reverse, was quite nice and interesting. She was a listener to whatever I wanted to talk about.

    I was in the loan business for several years, so I knew everything they were doing. The loan process has taken a few advanced steps since my experience in it, wherein almost all of it was done electronically. I used to worry about always having to gather up verifications when I was a loan officer, and those things were done electronically now and much faster. One major improvement I would like see is to have people on the ground here in the neighborhoods who could come and answer questions that you might have. Diana did a good enough job, but I always find it a lot better when I'm looking at somebody face to face, eyeball to eyeball. If they have somebody come to the house and explain what’s going on, it would’ve been a little bit better for me.

    There seems to be a hold out of money on the garage roof until the weather changes and it can be painted, and I needed a stronger answer than what I got at the closing. The closing was taking place here in my home, late at night. The lady was very nice, and if we had had a little more time and it wasn’t so advanced in the evening, then I probably could’ve gotten some more things answered. But she came in, did her job and then went out. However, things were done in a mechanical way and there wasn’t a lot of great interest from her in listening to my life. I had been a teacher for a few years in my life, and I didn’t feel like I learned much from what she was saying. Overall I feel a little more comfortable in the sense that I don’t have to worry about payments because there was a trust set up for me, and the trust itself would make the payments on insurance. With the rest of the bills like groceries and gasoline, I could handle that fairly easily myself.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Feb. 24, 2019

    Choosing a reverse mortgage seemed like a good opportunity to pull out some money out of a property and take care of some other things for the short term. I chose Finance of America Reverse because of the information on their website and the quick response that they gave when I was checking into it. However, the application process was more complex than I thought because I thought the reverse mortgage was more of a simple thing based on the property and age. I got lots of different business interests, investments, and real properties and the process was turning into a standard mortgage type of situation we had, getting all the documentation. We provided more than I originally anticipated.

    But the loan officer that I worked with was very good and very responsive, and he was quick to get back with me. There were a few issues as it went through underwriting and we had to clear it up with nothing left. The final rate and terms of the mortgage I received were good. However, it would be much better in the ads to say all the reverse mortgages are much more like a mobile mortgage process than it is.

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    StaffLoan ProcessRates

    Reviewed Feb. 24, 2019

    We've done the reverse mortgage twice. We seemed really good candidates for it and it gave us an opportunity to get some money out of our equity. On the second time that we did it, we took the class as required by our supplier, then we went through the process. We had to redo things over and over and resend forms. Finance of America Reverse wouldn’t accept the form because they couldn’t read it. The bank sent them one, but they said it was on the wrong letterhead. We thought we were done. They said, “You’re done. It’s approved, we’re closing tomorrow.” But the next day, we got notes saying, “No, you’re not. You gotta redo this.” It was very cumbersome and it took a couple of weeks until completion. Nevertheless, the loan officer that I worked with was very responsive and did fine. The rate and the terms of the reverse mortgage I received were also acceptable.

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    StaffLoan ProcessRates

    Reviewed Feb. 23, 2019

    Choosing a reverse mortgage was a lot more freedom for me. I don't need a lot of money going to my children because they are very well taken care of already. I saw Finance of America Revere's name and it looked like the name I wanted to work with. Their application process was clear and the process took 40 days. Their entire lending process was excellent. Their rep, Jamie, was exceptional. Even when her day is off, she would be working. I was most impressed with her contact and her concerns about everything. It was like she was doing her own loan. I was very comfortable working with her and it was like a sister relationship. She went to the source to help me address any questions or concerns that I may have had.

    The guidance Finance of America provided was on point at every step of the way. Although their rates are higher than what I could have received by refinancing this was the best experience in this field. I'm a not novice at this because I’ve had been in finance before. I also was a real estate broker for 32 years, a mortgage broker and was an appraiser. Finance of America did everything right on the penny.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Feb. 22, 2019

    I've been retired for almost 20 years. I was sick and had bills, and I don't like to be in too much debt so I did a reverse mortgage. I signed up with Finance of America Reverse and my experience with them has been very good. Taylor, the representative, was very good and he is very valuable to the company. I liked his compassion, his understanding, and his openness. He explained everything and went over everything with me. Obtaining my mortgage was very easy because Taylor called me and told me what was gonna take place. A lady came out for the actual signing, but Taylor had already gone over with me three-fourths of what I was signing for. So, I knew what was coming and understood it, and I liked that. The rate was very good. The process took a month and was faster than what I thought it would be.

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    StaffLoan ProcessRates

    Reviewed Feb. 21, 2019

    We wanted to get rid of house payments, so we decided to get a reverse mortgage and we did this with Finance of America Reverse. The application process went pretty well. The loan officer who assisted us throughout the process was very good and I enjoyed working with her. She was very communicative and helpful. The lending process took four months because they required a second appraisal and that part was a little slow. But the rate that we got was very good.

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    Reviewed Feb. 20, 2019

    I had house repairs that needed to be done and I didn’t have the finances for it. So, I looked online, read all of the reviews, gave it a little bit of thought, and then I started calling and ended up going with Finance of America Reverse. I called, left a message and they called back very quickly. The process of getting the mortgage was easy. I worked with Ernie and he's a very nice person. Finance of America Reverse has to send the list of people to do the counseling with, and they don’t get to choose who that is. It's something that is sent to them, and I let the rep know the names of some of the places in Colorado, what their waiting periods were and he said he could let his company know. But they don’t deal with these people, so they don’t know anything about them. They had just given their names for the counseling. The house appraiser then came out. The process was long, but it was kind of exciting and interesting to see how it worked also.

    The application and underwriting process took about 45 days. We happened to hit the holidays, so that messed up and the timing wasn’t helpful. Even so, the people from Finance of America Reverse were very helpful. They stayed in contact on the phone. If I was not available to answer the phone, they left messages. I also got literature in the mail. They were really on top of everything that was going on. They have also answered any questions I had and called me back if I had a question or if they had any other things that needed to be answered. They were great about making sure I understand everything. They don’t talk really fast. They also don’t use a lot of technical words that an average person wouldn’t know. The rates were also great. They were a little less from what banks were charging here in Colorado for a refinance. I've already recommended Finance of America Reverse to some neighbors.

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    Reviewed Feb. 20, 2019

    My experience with Finance of America was pleasant. Their application process was very simple. I had a very helpful loan officer and I was absolutely comfortable working with him. The rate and terms of the reverse mortgage I got were fine. All in all, I was very satisfied with them.

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    Reviewed Feb. 19, 2019

    My mother needed assistance with the finances and since I had heard about reverse mortgages as an option, I did a little bit of research online. I found Finance of America Reverse and they were also recommended by our financial planner. We compared them against AIG but their customer service was not even comparable. Finance of America Reverse has a form online so I submitted that I was interested and that I would like to have more information about it. Within half an hour, a person called me back saying that they were responding to my email. Shortly after that, I also got an email saying that someone was gonna contact me in the near future. But the representative had called me even before I received that email, which I'm guessing is auto-generated. So I was very impressed. And from the first conversation, she asked me why I was interested, what I was thinking about and what I knew about a reverse mortgage, if any.

    In comparison, the experience with AIG was more of the robot, preplanned questions and answers, and not even really listening to your answer. They would ask me the same thing that I had just responded to. It was very easy obtaining the mortgage with Finance of America Reverse. I was actually extremely surprised. From beginning to closing, it took about a month, which was completely at par with what the representative had originally told me. This actually happened at the end of the year. She said that she was gonna try and do it before the end of the year, and we made it. So that's another checkmark on their whole process.

    The rates are also fair considering everything. There was full disclosure throughout the process on what was going on, what the fees were and what I was looking for. They also had great follow through both phone and email. I really felt like I wasn’t pushed at all and that they were willing to work with me and my mother. They understood the whole situation my mother was facing and her age. So it was good. Then at the conclusion of our whole process, the lady I was working with, Bunny, sent me an email saying that according to everything, we were finished. She had met all the expectations that I had and she thanked me for the business. So she was very professional and, at the same time, very friendly.

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    StaffLoan Process

    Reviewed Feb. 18, 2019

    The whole process with Finance of America - Reverse - was very smooth and comprehensive. William ** led the team on my financing and communicated at every step of the process to make sure we stayed on schedule. He was very accommodating to my needs and made sure all the paperwork was in order for a seamless closing. I was very satisfied. Thank you Finance of America and William **.

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    StaffLoan ProcessRates

    Reviewed Feb. 18, 2019

    I decided to go with Finance of America Reverse as it felt right. Their application process was detailed and thorough, and together with the underwriting process, it took about a month. Throughout that time, the rep was very friendly and nice. We seemed to be on the right track together. He knew what I needed, and I appreciated his interest. Finance of America Reverse's rate was a little higher than what I've had before, but I'm quite happy working with them. They were on the ball and knew the process very well. They were also very clear at letting the clients know what was happening and how long it would take.

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    Reviewed Feb. 17, 2019

    Finance of America Reverse made me feel important as a customer and I liked their service, so I decided to go with them. I'm in the insurance business and I'm used to applications, so the application process with them was not a problem. The lending process was very quick. I was surprised at how quickly the people there completed everything in only two weeks. So, I was very pleased overall. Throughout the process, I had very good dealings with the loan officer and I felt very comfortable working with her. The personal attention and treatment that I got from her were very important. The reverse mortgage was new to me and I wasn’t sure that I wanted to do it, but she made me feel at ease about it. I would recommend Finance of America. They made me feel that I was doing the right thing when I had all my doubts.

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    Reviewed Feb. 16, 2019

    I got a reverse mortgage to have some extra money. Obtaining it with Finance of America was easy. From beginning to end, their process took a couple of months. Their loan officer was on top of it and was very responsive. She supplied the emails and called me a lot. Working with them was excellent. We wanted to do a few things around the house and we needed a different car, and we got a new car.

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    Reviewed Feb. 15, 2019

    I called HUD when I first thought about doing a reverse mortgage and they gave me two different companies that I could work with. When I talked to the first company, they were doing only the regular but I have the unit so I needed the jumbo mortgage. I then called Finance of America Reverse and they helped me. I got the counseling and then I talked to the people there back and forth. They answered my questions but it seemed like months before we got through the entire process because when they ask you something, they would come back and need something else. It was tedious and stretched out.

    I'm not happy because I wanted to get enough money to pay off all my bills but I did not get that because they set aside such a huge amount that I would have been eligible for otherwise. I know it’s because of my credit score, but that was the whole reason I needed to get the loan in the first place. I'm trying to get that off. I also wanted to get my savings built up again and try to get on my feet. I didn't wanna do it permanently. So, it's been hard because I didn't get the money I needed.

    Finance of America Reverse looked at how much my taxes and insurance are annually and they looked at what they expect my lifespan to be. They set aside over $100,000 for that but I’ve been paying my taxes and insurance without fail so I would have paid it. They wanted to do it and they said that was a rule. I ended up with less than 100,000 in hand. They were looking out for themselves but it seemed like their ratio and rules were unfair to me. My property has been valued at 1.6 million so I should have gotten more money based on the value. Even though they paid off my mortgage for over 300,000, if something happens to me, they would get all the property’s worth. Most people are not aware about it because they’re just gonna stay there until they die and then let the bank have it. Let the reverse mortgage have it. So, it's a good thing in that situation, and that's what a lot of people do.

    In my case, I have three kids and it’s an income property. I have units in the bank. So, I will try and leave it for them which creates the problem. Finance of America Reverse would get the property unless my kids wanna get another loan and pay them off. If I die, they could refinance and pay another bank. Or they could just sell it, pay them off and they still have money left over but the longer I stay in it, the more equity I use up. Right now, if I die, they have equity in it. It's still enough to pay Finance of America Reverse off and still have some money coming back. With what I came away with from this process, I'm in the same spot as I was before, just less bills. I needed some relief, which I got, but it didn't solve the problem. Still, I would recommend Finance of America Reverse but I would want people to know what they're getting up against and think about it carefully.

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    Reviewed Feb. 14, 2019

    The lady from Finance of America Reserve was the first one to call me right after I posted it on the internet. The application process was cumbersome, and the notary came the first time with about a hundred different papers to sign. The amount of papers they had was incredible for the first time and the second time they came. It was very extensive! The lending process took about six weeks. Also, the lady I worked with had my house assessed at $177,000. Then the professional who came out who did the survey put it down at 127,000. There is a great big difference there.

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    Reviewed Feb. 13, 2019

    A reverse mortgage is an excellent way for me to access equity without a cash flow influence. At the time, Finance of America Reverse was ready with the latest changes and had them explained and were on top of it for this timeframe when the cash would be available. Their loan officer was knowledgeable and supportive and kept me informed. Overall, our interaction was much more than what I would expect. The general experience with Finance of America is good, but the only con I have is the maximum amount of money you can get from the appraised value of the property. Also, the rate of the mortgage could be lower. Other than that, working with Finance of America has helped me accomplish the objective that I find valuable in a reverse mortgage.

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    Reviewed Feb. 12, 2019

    Finance of America Reverse gave us a better deal. We were getting more money through them. The loan officer that I talked to sounded honest. He said that he would be there for us through the whole process, but he was not. Every time we went to the next step that we agreed, we would continue a bit further. Then if I had questions, I didn't get any phone calls back. He wasn't in the office, so I had to go to his supervisor, and the supervisor explained things differently than the one that we talked about with our loan officer. By then, we were too far in it.

    In the beginning, the rate and the terms of the mortgage were reasonable, but it ended up being a bit unreasonable. Finance of America changed the rate due to different things and it was going back and forth. So we got stuck with whatever they tried to give us. The process took a little bit longer than three months. There was a week or two that my dad was in the hospital and we couldn't do anything. The loan officer told me it was gonna take two weeks and the others said it would take over 30 days, and it ended up a lot longer than 30 days.

    Right now, I'm waiting for Finance of America to pay for our insurance policy, which was in the contract. It has not been paid for and has been expired for about a few weeks. The insurance company has contacted them. We’ve also contacted them, but I'm not getting anything resolved. Also, the loan officer kept saying that he was A1 rated with the Better Business Bureau. The name brand itself has an A1 rating for two of its offices and the rest of them are either B or C, but the person's office that I dealt with has an NF, which means there are a lot of complaints. His documents saying he has an A1 rating with Better Business Bureau is false.

    Finance of America Reverse doesn't have a manual or information explaining how the reverse mortgage is calculated and the different types of loans that are available. You have to go by with what your loan officer tells you and with my experience calling several different companies, you are gonna get several different answers, so it gets quite confusing. There’s really nothing that a consumer can refer to. Finance of America also has several different offices and they need to keep track and do further investigation of their employees and how they are running their office and what they are telling their customers. It seems like everyone is deciding what they wanna tell you.

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    Reviewed Feb. 11, 2019

    I chose to go with a reverse mortgage since I thought it would be better than doing a home equity loan. Finance of America Reverse was the first company that I contacted and they were real helpful. The process went really smooth and fast, and the rep Matthew was precise in what he was doing.

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    Reviewed Feb. 11, 2019

    I was looking for a lending company and Andrew, the rep from Finance of America Reverse called me. He was such a nice and helpful person. He was also friendly, listened to me and answered all the questions I had. He answered as quickly and as honestly as he could. The other companies weren't as helpful and I was not comfortable with these couple other people I had talked to. There were several things with the way they were going to do the mortgage and they weren't willing to work with me about what I needed.

    I told Andrew what I needed and why I needed it. He worked with me to see what my house was worth and what I could get and on what bills I had and to see what it would take for me to get to where I wanted to be. I was very comfortable working with him. The application process with Finance of America had a lot of paperwork and it took about 30 days for the application and underwriting process. Even so, the process went fine and I was very well pleased and satisfied. Finance of America has helped me very much. I would recommend Finance of America to anyone and I would especially tell them to get Andrew.

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    Reviewed Feb. 10, 2019

    I'm 66 years old and I was spending money on a house that I'll probably never pay for. Finance of America Reverse was the only one that offered to help me out, and it seemed to work pretty well. The process was very tedious at one point as there were a lot of things I had to straighten out, but the young lady helped me all the way through. She directed me to what I needed to do, where I needed to go and who I needed to talk to to get the rest done. I don’t know if I would have gotten through if it wasn’t for her, so I'm very appreciative to that. Though I should have gotten more considering the value of the house was more than what they said it was, I needed to get what I needed done and FAR helped me.

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    Reviewed Feb. 9, 2019

    My wife and I were very pleased with the way William ** handled our application for reverse mortgage. He led us through the process with great professionalism and a true interest in our understanding all aspects of the process. His follow-up was excellent and we found him to be a perfect gentleman at all times. I would highly recommend William to anyone interested in applying for a reverse mortgage.

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    Reviewed Feb. 9, 2019

    William **, with Finance America Reverse, was very professional and helpful throughout this process. I was nervous and asked many questions. William answered them all and reassured me with his knowledge and understanding. He made it clear that this was my choice, for my reasons, and that he was only there to help find a good fit for me. I appreciated his compassionate approach and would recommend William to anyone with equity in their home who may be looking for greater security as they age.

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    Reviewed Feb. 9, 2019

    I worked at the mortgage industry before and I knew of Finance of America, what their size was, and what their reputation was. They had a big, giant office here right in Tulsa and I figured it’s probably a good scenario to go with somebody that’s kinda local. Also, I knew how they did business and I knew they were the good guys so I went with them. The application process was pretty seamless, pretty standard, and very typical of the industry and how it works. But the biggest thing was the loan officer. We started talking way before I even started looking for houses. I’ve been in the business for 44 years, so I know how to play the game. You don’t go looking for houses unless you know what you can buy. And I knew what I could buy, but I wanted to have them on board.

    The loan officer was very easy to deal with and was not pushy at all. He called me out of the blue a month or so after I bumped into him originally just to touch base. Which, I can tell you from being in the industry, nobody does that. The mortgage business is, "Give me the deal right now. I don’t wanna wait a month, two months way down the road." So, having someone that was willing to wait and was willing to work with me while we waited was exactly what I wanted. And it couldn't have been better. The rate and terms can always be better but I felt what they gave me was fair. It was market. The costs are high in a reverse mortgage but I didn’t think their costs were out of line. Also, everything was above or everything was just as it was presented to me in the beginning.

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    Reviewed Feb. 8, 2019

    I use my computer a lot to go online and get a look on things. A guy from Finance of America Reverse found my open website and left me an email. I wasn’t sure that I could go get another company in this place at first, because the other one kinda went belly-up. I called the company I was with to see if I could do a refinance thing because I heard every 18 months, if your house has increased, you can run it through them. And if they can, you can. They said they were not doing that anymore. Apparently, they’re sitting on everything. They bought out the company and hadn't had it too long. But apparently, there were some blunders and they weren’t doing any servicing. He said that I gotta go to my bank or find another reverse mortgage company. But I sure didn’t wanna go to my bank and make house payments again. So I ended up going with Finance of America Reverse.

    Their rep helped me through all the process and it was quite an ordeal. We had to do everything from scratch again and it was a little bit tough. He would call me up about how far he had gotten or if I had to make some decisions until we finally got it all worked out. He kept calm for me. It was frustrating, but he did a good job on getting us all settled for me. They bought out the company for such and such and they showed the expenses by the time they were done. The buyout on the house was 143 and the total bill came to 160,000 when they were done with the charges and different things. I also managed to get a little more money out of it, so that helped us considerably. I would recommend Finance of America Reverse. Their rep fought pretty hard for me to get this all squared away.

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    Reviewed Feb. 7, 2019

    Finance of America Reverse was more interested in me than the other companies that I talked with. However, the application process took over a month and I had to repeat several things. The stuff that I had sent didn't get sent right and I kept having to redo it over again. It would help if they knew on the front end everything that they had to do. Instead, they get it in spurts. It was disconcerting to know that I have done all the things needed, then suddenly, I had to do all of them over again.

    I worked with Nick, their loan officer, and he was wonderful. He was always so patient with me and whenever I asked dumb questions, he took the time to go through every one of them and explained it to me. He was excellent and he had the answer to my question right away. The rate and terms of the reverse mortgage could be a little better. I didn't get what I wanted to get for my house, but I knew they have a certain way that they have to do things. It was still better than the reverse mortgage solutions that I had.

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    Reviewed Feb. 7, 2019

    I wanted to get my credit cards all paid off, so I wouldn't have any more stress in my life. I tried AAG first, but they turned me down because I changed jobs, so I went through Facebook and I found Finance of America Reverse. The loan officer was absolutely wonderful to me. He was so nice and very helpful. I do not regret doing the reverse mortgage at all and using them. I was very satisfied. I had already gotten pretty much everything gathered up for AAG, but Finance of America didn't ask for near the stuff AAG asked for. When I changed jobs, I left Walmart and went to work for a school district. AAG verified my employment five times with the school district, which I thought was a bit extensive.

    I'm very satisfied with everything about Finance of America. I'm very happy with the rate I received and the terms are good. The cost is less than what AAG was gonna charge me and the interest rate is also better than what AAG was gonna charge me. I would recommend Finance of America to anybody. I don't stress. I paid off almost all my credit cards and I've been able to start paying on my cruise for me, my grandson, and my niece for this summer. Now, I can take them on their cruise and not stress about the money.

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    Reviewed Feb. 6, 2019

    I called Finance of America Reverse and then people with my local area code called me back. We worked together for a few months and I got approved. Finance of America Reverse is now setting up my reverse mortgage. Their service was very good and they gave me a lot of help.

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    Reviewed Feb. 5, 2019

    I looked for a reverse mortgage company, and I found two. I worked with both of them, and then I got the best price. Finance of America Reverse gave me the most money, and their rate and terms were acceptable to me. Their underwriting process took about a month. The representative kept in touch with me and I called him with questions -- we kept each other up to date until it was done.

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    Reviewed Feb. 5, 2019

    I looked online for reverse mortgage lenders. Some other people gave me a callback, but I wasn’t interested. Finance of America gave me a callback and this guy, Sherman, got me at the right time. He said we can pull out this much money and gave me the best offer. The application and underwriting process took a little longer than expected because when they did the credit check on my mom, she had so many open accounts and that's why we decided to do a mortgage first so we could pay everything off.

    Instead of us closing in 30 days, it ended up taking some months. But the underwriting went well on the second time around. Sherman told us to just pay off those bills and we can show that the bills were paid and the cards were closed next month. He said my mom could meet the criteria and make it by. He was really helpful and he called me every day and let me know how the process was going. Sherman also told me that my mom doesn’t have to pay the money back, but I wanna be able to pay the money back because I don’t wanna wait till she dies. They explained to me that we could do that, and everything was okay. He kept saying that he will make it work.

    In terms of the rates and terms, we’re on the adjustable rate. With the economy being the way it is, Sherman told me that the rate will fluctuate, and the rate moved at the time. He explained to me that I’m building equity as well, but I’m not looking to touch anything else. I just wanna start paying in the next three months and start putting back into the principal and the interest. All in all, the experience was pleasurable. Finance of America's employees were very professional. Sherman went out of his way to get the loan and got it through.

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    Reviewed Feb. 4, 2019

    I'm a senior citizen on a fixed income, and I'm the sole support of my daughter and my grandson. I work full-time to pay my property taxes and I had no choice but to get a reverse mortgage. This is the second one I've done with Finance of America. First time, I did it with a broker and it was like giving up everything but my firstborn child. They wanted me to have a trust, which I updated, and they wanted the original trust. They also wanted me to pay off my solar lease, which I wouldn’t do because I couldn’t do the maintenance if I didn’t have the lease. The onerousness of the paperwork that they need is horrendous. Maybe that’s true of mortgages in general and not just reverse mortgages, but reverse mortgages require debt counseling, which you have to pay for. The second experience with Jill was much better than the one I had with the broker. She was wonderful and I was impressed by her fullness, attention to detail and knowledge.

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    Reviewed Feb. 4, 2019

    I looked up the different companies on the internet and I had a friend of mine check out a few of the companies. Finance of America Reverse and AAG came up as two of the top. I talked to representatives from both of them and gathered some information. I went back to America Reverse because of a particular employee, Jill, who walked me through the initial process. When I first made my inquiries, I wasn’t ready to do it. I was gathering information and hadn’t made up my mind about exactly what the timing was gonna be. I knew I needed to do it and she had the courtesy of giving me all the information without any pressure.

    Two years before I actually did it, I called her with additional questions and she was always more than happy to give me answers without pressuring me at all. Plus, I didn’t get any of those back-up calls, which I don’t like to get. Once I’ve decided on something, I don’t need them to continue hounding me. I’ll get there when I’m ready. I expressed that to both agents but I was assuming that it was standard procedure to ignore the people they were talking to and go by whatever the company demands them to do. Jill didn’t do that and I felt she was paying attention to me. I went back there, compared offers, looked at who owned the companies, their stability and the parent companies of various things.

    It also made the difference that I did not want to do business with the company that a few years down the road would sell the mortgage to someone else. It was one of the things Finance of America said they would not do and I gotta take their word for it, whereas AAG did not give those promises. Beyond that, they were equal. There were a few things here and there that Jill adjusted. They took some fee out from the final loan, instead of making me pay for it upfront, then I paid the appraisal. Those costs were taken out and written into the closing cost, so I didn’t have to take them out of my pocket. It was the personality and the fact that she made me believe what she was telling me, and she made me believe that I could trust her.

    The application process was intimidating and extremely stressful. There was so much paperwork. There had to be 50 pages of more and most of us harried citizens go into this kind of thing, take a look at the volume of the paperwork, and you’re responsible for anything you sign. If you’re not an attorney and you don’t have a background in reading those, you’re intimidated within the first page, let alone the first 10 pages. If people were aggressively willing to apply themselves, they might get halfway through it. But if you don’t have that training and education, it’s an absolute “put a blindfold on and walk off to the end of the high dive” because that was as good as it gets. I have a friend that I didn’t have to pay an hourly attorney wage and when I signed all the papers, she sat with me and went over the documents one by one so I had that back-up that if I missed something, I wouldn’t be standing on thin air.

    If I was sitting in a board meeting with a bunch of CEOs trying to tell them how to make the experience better, I’d tell them to go get Jill and put her in charge of training their liaison people. I’m picky, reasonably intelligent and somewhat articulate, and Jill walked away with it, not because of any money differences. AAG offered me a slightly better deal and it amounted to $500, but I went with Finance of America because I felt that, going forward, I could pick up the phone, call this woman and get a straightforward answer and not be left out in the cold. The best thing they can do is have people who really know what the overall picture is. They are as much an advocate for the borrower as they are for the company. If I were to say to friends who are considering doing this, I would recommend the company and direct them to Jill.

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    Reviewed Feb. 3, 2019

    My mom's 70 years old and it was difficult for her to do the forms and things that needed to fill out and what she had to do. I walked with her through the counseling and all of it. I had called a couple of lending providers. When I called Finance of America Reverse, the second person that I spoke with took the time to explain to me, 'cause I told her I was trying to get information for my mom and my stepdad, and I didn't know what it entails or what they do. She directed me to a website, then proceeded to walk me through what was on the website and explained to me how and what it was done, and what the criteria were. This was before I agreed that I would use them and I was so impressed with that.

    We started around October and we closed around December, which we could have closed early, although there were things that my family needed that I have to help them to get like the medical records but being that they were older, it just took a minute to get those in getting the appraisal done and scheduling it. Some of the stuff just took a little time. After Finance of America did the appraisal, there were a few things that needed to be done to the house before we could move forward so we had to get someone to come out and like say that the roof was actually good for another 10 years, because they had noticed some water stains inside the house. Those things took a little time, but overall, my experience with them was phenomenal.

    The loan officer, Diana, was patient with my mother and if there was something that she couldn't get my mother to understand, she would call me and I'd call my mom, and Diana would explain to her again, with me listening. I was able to tell my mom about those and I'd say to Diana that I’ll take care of it, that we'll fax or email it to her. The other thing that I loved about it was that we could do everything by hand or fax or email, just a click of a mouse.

    Working with Finance of America Reverse has certainly made my parents' living more comfortable. When my stepfather went to the nursing home, his social security income went with him. As a result of that, my mom was at a disadvantage 'cause almost all she had was her retirement income. She was struggling so this has had a tremendous impact on our lives. When it’s a choice between buying groceries and medicine, a choice that she didn't have, we were supplementing as we could 'cause we were never gonna let her go without. But this was gonna be on a continual basis and we couldn't keep supplying forever. We gotta take care of ourselves too.

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    Reviewed Feb. 2, 2019

    I obtained other reverse mortgage quotes from multiple vendors in this industry and Finance of America Reverse LLC understood my financial needs in retirement and produced the best contract. Charles ** of Carmel, Indiana office listened to what I was trying to accomplish and was always available to answer all my questions and devise a plan to solve this problem with quick service and documentation. I trust his professional honesty and answers and that of Finance of America Reverse LLC and would recommend others to get their reverse mortgage through this company and agent. I was assisted at each step through the process and he produced the reverse mortgage in a timely manner. All details of documentation such as insurance evidence, photos, appraisal, notary signing and contract copies were assisted. I have now received my first of many monthly payments direct deposited to my account.

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    Reviewed Feb. 2, 2019

    Mr. Charles ** answered all of my questions and never hesitated to remind me to contact him if I had any new questions as the refinance process progressed. If I requested that he run some figures for me he always responded immediately to my request. He was a consummate professional every time we spoke on the phone. I would not hesitate to tell my friends to contact Mr. ** if they should decide to refinance.

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    Reviewed Feb. 2, 2019

    Finance of America Reverse's application process was awesome. It went great. And I spoke with Julia and she was awesome as well. She always returned my calls and answered my questions. And if she didn't know the answer, she would get back with me with the answers.

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    Reviewed Feb. 1, 2019

    The federal government has a thing wherein they can ask for two inspections to see what the property’s worth is, so they can ask for as much as they want. They can have more than the property’s worth and it is kinda screwy. I didn’t wanna make house payments and Finance of America paid for one of the inspections. The loan officer who helped me was awesome and went out of his way to help me. However, the rate and terms of the reverse mortgage I received were outrageous. It was expensive money, but it was my decision to make. I'd definitely recommend Finance of America. If people are looking to save money while doing their thing, they can do things like reverse mortgages.

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    After a positive interaction with Finance of America Reverse, Richard increased their star rating.

    Reviewed Jan. 31, 2019

    Taylor ** & FAR were not my first my first choice mostly because I found them late in the process. But Taylor stayed in touch as I worked through the process with the vendor I had chosen. When things didn't work out there, he was ready and available to help. He was able to carry us through the process with no problems and answered all my concerns. I would not hesitate to recommend him.

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    Reviewed Jan. 31, 2019

    Finance of America Reverse's application process was pretty easy. A lot of things came up, however, that we would've liked to have known at the beginning like paperwork, documentation, and testing on the house. It took almost four months to finish, and it was a hassle. The loan officer, nonetheless, did a good job. I just don’t think she was informed as well as she could have been because of all the new things that kept coming up. Their rates and terms could’ve been improved, too.

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    Reviewed Jan. 28, 2019

    I had already done a reverse mortgage before and I paid it off. I started the process all over again ‘cause it’d really help me when I got it. Finance of America Reverse sets up an appointment to fill in the application, and I get all the paperwork together. It takes two to three months for everything to process through, and about halfway through, I do my GreenPath counseling to make sure I'm not doing something wrong. It's fairly easy. The loan officer Sherry was beautiful and I love her. She was always calling me back whenever I had any questions. I didn’t have to wait two or three days. She’d call me 15, 20 minutes after I called her with a question. The process was really simple because everything I was worried about, they answered beforehand. They did well by me and I would recommend them.

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    Reviewed Jan. 27, 2019

    I lost my wife to cancer a few years ago, and I incurred a lot of debt. I talked to other lenders and ended up going with Finance of America Reverse because the rep that I was paired up with, Matt, was super to work with. He made sure to communicate frequently and I knew what was going on the whole process. I would recommend them to anybody wanting to do the same thing.

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    Reviewed Jan. 26, 2019

    My dad was of advanced age and we needed financial help for him for seniors and things of that nature as well as to maintain his home. We called LendingTree and we were referred to Finance of America Reverse. My brother sells insurance so it was him who initiated it but we were pleased with it. We got the counseling to let us know what it was all about which was very beneficial. The application and underwriting process went okay. Everything had to be notarized so it was a little difficult setting that up but we were able to get it done.

    The rep was very helpful and contacted us with different things. We needed to get a letter from my father’s physician saying that he was of solid mind to have me be the power of attorney. The doctor that he had has retired and the doctor that he is currently seeing is a younger physician and we have seen him only a couple of times. We were able to get that rectified but the time that it took to get it all done was a little cumbersome for us and took longer than we anticipated. Still, I would recommend Finance of America Reverse. Now, we can get my dad what he needs for his health. Also, his heater went out and we already had it looked at. His fan motor was burnt out. The central heating unit is old so, we’re gonna use the money for that.

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    Reviewed Jan. 25, 2019

    I’d been thinking about reverse mortgages for a bit and decided to look into it. Amber from Finance of America Reverse was pleasant to talk to, but the application process was a pain. Also, I never received the welcome package that I was supposed to get. They said that I should be receiving it, but I never did so I’m a little concerned about that.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Gary,

    I'm sorry to hear you thought the application process was a pain. We do our best to make the process as easy as possible for our clients. We reached out to our servicing oversight team, and they confirmed that your welcome packet was sent out on 12/13/2018. I have emailed a PDF copy to you, and you will receive a paper copy from FedEx.

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    Reviewed Jan. 24, 2019

    My granddaughter died and her funeral cost was $18,000, but no one had the money to come up with that amount upfront. I saw the commercial of Finance of America Reverse on TV and called them and applied for a mortgage. However, the process took forever to go through and I was disappointed because they made me put in a water well that was $12,000. They told me that I needed the water well for the loan. I live right on the lake and I felt that it was very unnecessary. Everybody just laughed and thought, “Who in the world is this?” or “Why would they do that? You’re right on the water.” But Finance of America Reverse would not take no for an answer. They had to go on, so the cost was taken out of the money that I got.

    They charged me an arm and leg with all the stuff. They said it was only low percent interest, but they didn’t say it was through all the different programs, like 1% here, 2% from something else, and 3% from something else. I needed the money and all of that got straightened out, but I wasn’t given straight information. As far as the application process, it was just filling out forms and having someone come to the house. Then, they sent a packet of forms that was about two inches thick and I had to sign all of those. A Notary came out and she had to notarize it all. I also had to get a surveyor and pay for a surveyor out of pocket. Finance of America paid for a surveyor, but I had to pay for it first. It was around $500 every time I turned around and all of those had to come up upfront.

    The application and underwriting process took about seven months and I never could get that much information. I’d call them again and again and they would say, that they're doing this and that. They did not know what they were talking about half of the time. The lending process shouldn’t take that long. I had to borrow the money from a nephew for the funeral and I had to pay him back.

    I never could get an honest answer out of the loan officer. It took so long and they always had an excuse why it was taking so long. I had good credit and there wasn’t anything that was against me on my credit at that time. They had to check my credit, but I don’t know what took so long. I felt comfortable working with the loan officer, but what I do not understand is I got about $150,000 and what they borrowed on my house was 900,00. However, they stated that they couldn’t get that much. I think they used the money for something else because I got a deed from the second lender saying that 900,000 was borrowed against my property, but I didn’t see a fourth of that. I wasn’t told the truth and I’d rather forget about this whole bad experience.

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    Customer ServiceStaff

    Reviewed Jan. 23, 2019

    I screwed up my finances and had a bad credit rating. I had read a lot about reverse mortgages and it was a way out for me ‘cause I’ve retired a couple times and I’m not working at the moment. Kevin from Finance of America Reverse did a cold call for me and he was a great support. I was so worried about my credit rating that I was really apprehensive, but he was enthusiastic and he walked me through it. Working with them made my life 10 times better. Now I don’t have to worry about going to debtors’ prison.

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    Reviewed Jan. 23, 2019

    Our experience with Finance of America Reverse was over the top in terms of satisfaction. We were thinking about refinancing to pay off some debts and came across their ad on the internet. The ad described the new, modern form of mortgage. I wanted to find out with no commitment and worked with a very nice guy. He sent me a package, but it didn’t have the right amount of money that I needed. It didn’t seem like the best program for me. Then I got a call from Jason who said they had many more packages and different kinds of programs. He asked if he could talk to me and I said yes.

    Jason also sent me out a package. The interest rate was a little higher and there were some closing costs that they didn’t have with a normal mortgage, but there were all kinds of things about the new type of mortgage that work for a person like me. I was little top-heavy with credit card debt. I still had a significant mortgage and I have an expensive home in Santa Monica. A traditional refinance would require me to borrow some more money and I didn’t wanna go about that. Plus, assuming I passed away first, my kids would not necessarily want the house when my wife passes away.

    My wife was skeptical and Jason talked to her independently. He also had my wife talked to her financial adviser independently. Her financial adviser also talked with Jason. Jason was nice and tremendous. He followed up the other day and made sure everything was fine. And when I have questions, he has been very helpful.

    The new programs are very good because you own your own home. In the end, you're gonna have a big mortgage if you choose not to pay some of these payments on a monthly basis, but that’s okay. What that means is the equity, which is substantial, may still be reduced because of the interplay between the equity and the amount of the mortgage.

    Finance of America Reverse was efficient and worked through the process quickly. They needed two appraisals though, which is a silly requirement. Some of the appraisers in my life have just done a walkthrough because you don’t even need it. The house was inherently on a very expensive block in Santa Monica. It's a good block with lots of equity. We have lots of equity but didn’t have a lot of free cash. We wanted to get the mortgage done. It was an absolutely liberating feeling.

    We put the money into the debt and into retirement. We also put a little bit into a stock account. We feel really good. We could be making monthly interest payments, but we're making them sporadically right now while everything gets set. I have nothing but resounding cheers. Finance of America Reverse is okay too, but Jason was out of the world in terms of being helpful. I would recommend him.

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    Customer ServiceStaffLoan Process

    Reviewed Jan. 22, 2019

    We thought that starting a reverse mortgage would be a good idea and we went with Finance of America Reverse because of the agent, Julie. She was the reason that we went with the company. She was fabulous. She was prompt and accurate and was on the ball getting back to us answering our questions. She did her job the way she was supposed to. I liked her so much. We had told Julie about some of the bills that would be paid by the time we closed and they still showed up on the closing document, so we had to sign additional papers later on. Julie was always available whenever we called whether it was morning, afternoon, or evening. She worked late at night, sometimes until 7:00 or 7:30. She emailed us and there was always a way to get a hold of her.

    The application was ridiculously long, but it was the same thing with the home equity loan that we applied for five years ago. The closing cost was extremely high, although companies are all that way. We wanna try to buy a car with the amount, but we haven’t done that yet. There’s a ton of companies out there, but I would suggest Finance of America Reverse to a friend.

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    Reviewed Jan. 22, 2019

    Finance of America called us in about 12 hours when my husband was searching for reverse mortgages and that was very fast. The rep was very thorough and he explained everything in terms that we could understand. The process was very easy and everything was brought to the house which was an extra plus as we didn't have to leave our home. The rate and the terms were very reasonable and the service was excellent. I spoke to a lady that handles our home insurance and I informed her about Finance of America and she would probably search them out in doing their sales.

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    Customer ServiceStaffLoan Process

    Reviewed Jan. 21, 2019

    Tim ** was extremely helpful. He showed great compassion and was totally knowledgeable of the Reverse Mortgage program. The information he provided us continued to help us feel comfortable about the entire process. If we had questions, he immediately responded with answers that we clearly understood. Tim is very organized and kept us in the loop as to what was going on at all times. Another attribute regarding Tim is his easy going manner. He is definitely an asset to your company.

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    StaffRates

    Reviewed Jan. 21, 2019

    My mother had a previous reverse mortgage with Finance of America and we redid it as the value of the property had gone up. The gentleman I worked with there was very helpful and he stayed in contact regularly. Applying with them was very simple and the rate they gave me was very competitive.

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    StaffLoan Process

    Reviewed Jan. 20, 2019

    $10,000 is what I got off of my place to start with. It seems kind of crazy. It's very expensive but for me, it was okay. The place itself was paid for so I'm using my own money. I got what I needed to pay off all my bills, take care of the well and paint the house. The people in Finance of America were very nice too. Katie May was very good. She helped me understand things and she seemed to hurry it up for me so it didn’t take months. With the other company I worked with, I was in it for a month before they decided they couldn’t do it.

    When I needed to have under the house checked, I was told that I didn’t have tie-downs under my house. It's a manufactured home. But they never gave me a chance to find out what was going on. They just dropped it. They also charged me $600 and some for checking the foundation and I thought that was wrong. It was a bad experience and I was glad I didn’t stick with them in the first place. They also said they couldn't get the final papers that they wanted on my solar. But Finance of America didn’t have any problem with my solar company. Finance of America was a very good one and I'm happy with it. I'm very satisfied with what they did.

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    Reviewed Jan. 19, 2019

    I needed money and thought of getting a reverse mortgage. Finance of America Reverse was the first one to call and the application and underwriting process were all done within a month. The rep was always available when I called him.

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    Customer ServiceStaffRates

    Reviewed Jan. 18, 2019

    Tim from Finance of America Reverse was really nice because at one point, we said that we weren’t going to do it. He called and we talked and he said that we could do it. So, we thought about it and moved ahead and did it. And it felt like we could trust him more. He got us a good rate. If we left money in there for a year, we could withdraw it out if we wanted. But if we left it in there, the interest rate was good. So, the application was done in a timely manner.

    Finance of America was a very good company and Tim was very helpful for us. It was like talking to a friend and he answered all our questions and worked with us. Most of the time, he would get back to us instantly if we had a question or a concern and if he was with somebody else, he would call us back. Everything went pretty good. We wanted to pay some bills and get more comfortable and we were able to do that. We feel comfortable. With the way everything is going nowadays, we feel like if things get worse, we have a roof over our head. We don’t have to worry about paying money back or anything.

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    Customer ServiceStaffLoan Process

    Reviewed Jan. 17, 2019

    I investigated several mortgages online, made some phone calls, and the gal I connected with, Diana, from Finance of America Reverse was absolutely fabulous. We seemed to click. She answered all my questions and was never too busy to take a phone call. The application process was relatively easy and the application and underwriting process was completed surprisingly quickly. I was amazed at how quickly everything went through. I thought it would be much more complicated, but they made it. Also, I was unsure about the whole process, but once I made the decision and ran the numbers, I was pretty comfortable with that.

    But I was somewhat unhappy with the closing. I felt extremely rushed by the guy that was doing it. He made the comment, “We have to speed this up. I have a 5:30 appointment. I felt more rushed than what I would’ve liked because it seemed like without having an attorney here, I wasn’t given enough time to really read through things as much as I would have liked. But with doing something like that, you always have reservations and there’s gonna be a little bit of nerves involved and I expected that. For the most part, everything was fine and the loan officers were great. I would highly recommend Finance of America Reverse to anyone compared to some of the other calls that I made.

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    Customer ServiceStaff

    Reviewed Jan. 16, 2019

    Finance of America Reverse hit me at the right time on a call as I was ready to do a reverse mortgage. Though I didn't like that there was a lot of paperwork and so much paper that I had to sign, my application went smoothly. I worked with two guys and the first one, I really liked. He was good and he kept in touch with me, but he got promoted and another fellow took over. He may have been new at the job and he didn't reach out as often as the other guy did. Still, he was okay. Overall, they did a good job for me and I'd tell people to try their service.

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    Customer ServiceStaffLoan Process

    Reviewed Jan. 15, 2019

    I went through and looked through a lot of options. The thing that convinced me to go with Finance of America Reverse was the salesman that worked with me. Eric did an excellent job and answered my questions. He was straightforward about things. I was debating whether to get a jumbo or whether to do the standard limited FHA type deal and Eric had all the right answers. No one else seemed to know that much about it. Also, Finance of America already was set-up in Missouri, other companies were not. The $17,000 upfront cost seemed exceptionally high and there were others that were less expensive. Two or three of them were into $10,000 or $12,000 range, so it was a very significant difference. But the overall long-term cost I felt was very competitive, so that's why I went ahead and with Finance of America.

    The process was unbelievably long and drawn out and far, far, far too many pages. A lot of that were the regulators involved. First of all, the extra documentation that they required that seemed to be simple and stuff, other things were not so simple things. After we finally found someone to do the evaluation or appraisal of the house, they've turned down that one. And I understand from Eric that once in a blue moon, they arbitrarily will wanna spot check the appraisals and call for another one. They called for another one, that delayed me to the point where I had to get a second credit check. Although we closed way before the 90 days, it didn't make the distribution until after 90 days, so they had to do a second appraisal because of Finance of America policy. So now, for the next two years, my credit report will show that I've had too many hired crediting inquiries on my credit report which hurt me by 50 points.

    Also, there were all these statements that I had to sign, my wife who was not a borrower, a non-borrowing co-owner of the house is two years too young. It just went on and on and on and on. It seems to me they could do a much more, adjust it as effective legally and protective job with a lot less pages. And every package has forms in it that do not apply to me. When it was sent to me, it did not clearly say, "This doesn't apply to you." And I had to call Eric to get a clarification about this particular page or that particular page or paragraph. I was told to not worry about it and go ahead and fill out the rest. But the rest had the same kind of stuff in it, where it didn't apply. So, why include that in the package for me to review in time if it does not apply to me?

    I'm getting a loan so that I have a line of credit to draw on with the equity I've invested in this house that I've owned free and clear for more than 10 years. I just want a back-up in case I have another heart attack or some other issue come up in the future and make sure I can get by financially and I can pay my hospital bills and not burden my wife on her retirement funds to take care of me. I don't need the hassle. That last appraisal that required the HUD just about made me walk. Eric was the only reason I stayed with Finance of America Reverse. He's a jewel and it would be a huge mistake for their company to ever lose him.

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    StaffLoan Process

    Reviewed Jan. 14, 2019

    We began our loan process with a competitor. After suffering through countless honesty issues and a good bit of incompetence we were very fortunate to find Nick **. He was in touch with us every step of the way. He was forthright and honest (verifiably). Nick is extremely knowledgeable and led us through the process comfortably. Everything turned out even better than we initially anticipated.

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    Reviewed Jan. 14, 2019

    I needed some extra money to help pay with the property tax and after I inquired about reverse mortgages on an ad site, Finance of America Reverse called me along with six other people. The application process with Finance of America Reverse was straightforward and the process took about two months. The rate and terms were okay. But if you have a larger reverse mortgage, it might be more worthwhile. A reverse mortgage is an expensive loan because of the closing prospect, the deed upfront and the insurance from the FDA. You're effectively putting a large amount of interest and a large cost from the origination fees.

    There were also some problems. They didn’t identify the property correctly and messed up the lien on my property. In my building, they have condo units and parking spots. Finance of America Reverse picked a parking spot that I used to own and decided that was my condo unit. Then they told me they screwed up. They had put a $65,000 loan on a $30,000 parking spot. That was a big slip-up on the title company. It upset the guy who owned the parking spot and that had to be corrected. I assumed that they've fixed this by now but I haven't heard. The loan officer, Cyndi, was very nice though, so that was good. She was very positive. She got back to me promptly and she resolved any issues.

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    Reviewed Jan. 13, 2019

    What interested me the most about the reverse mortgage was Diana and this wouldn't have happened without her. She's the salesperson out of Indiana and she's an A-plus for the company. She followed up after I called into Finance of America Reverse and asked about some information. At that original time, I told her I was not interested because I truly didn't understand all the ins and outs of the whole statement. But Diana was so completely gracious in calling me back and explaining more to my wife who has had 35 years of experience as a vice president of a really large real estate company. Diana explained all the ins and outs and she followed up. From getting the papers filled out, she followed through and stayed with us.

    I had to get documents prepared and the process took us almost all summer. We started talking somewhere back in June and we didn't close that until November. We did not get a very good appraisal on our house though because the appraisers who came in didn't know this area. I read her appraisal report through and through, and it was a terrible appraisal. Our rates and our terms are fine with me though. We locked those in back in the beginning.

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    Loan ProcessRates

    Reviewed Jan. 13, 2019

    We did a reverse mortgage considering that we're getting older and we don't plan on moving. We decided that we could free up some of our retirement stuff, make it last a little longer by going that route. I contacted four companies and Finance of America Reverse was the only one that contacted me back. Another company contacted me about four weeks later, but we're satisfied and glad we picked Finance of America Reverse. Our experience with them was easy and the application and underwriting process was painless. Brent was very prompt and willing to go out of his way. He made trips down here at the spur of the moment for whatever paperwork or signatures needed. I'm also very satisfied with the rate and terms that they set us up with. I'd recommend this company.

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    Reviewed Jan. 12, 2019

    We're up in age and we thought that maybe a reverse mortgage was the way to go so it would be easier for us to pay bills. The first person who called gave up. He didn't call back anymore then I called one day, maybe a month and a half later. I spoke with Mark at Finance of America Reverse and he seemed to be very nice and knowledgeable. I was apprehensive from the very beginning but Mark was very personable and everything went fine. We were happy with Finance of America Reverse and I would definitely recommend them to a friend but I would also warn the friend to be prepared.

    There's a lot to do to get this reverse mortgage and it took at least two months. It took a long time and it was rather difficult because we chose to go with Catholic Charities to get the counseling. They did it for free but we had to go all the way to Reading to have this done. When one woman came out, we signed all these papers and then when the guy who was closing came out, we had even more papers to sign. That was because, maybe in one or two of them, we forgot to write the date. They had to send them back, re-sign them and get the papers back to them. But the lady we worked with was awesome. She was very helpful and informative. It was just the communication – the phone calls, the signing of the papers and the mailing back and forth.

    Mark was also pushing to get it in before a certain time. I told him it was not gonna happen because there was stuff going on here medically. But he said we would make them very happy if we could do that. I told him that I didn't blame him for pushing it. Christmastime was coming and I knew that he wanted his commission. If I were in his shoes, I would probably be the same way. But we're in our 70s and at that point, we didn't feel like we wanted to be pushed. Mark kind of admitted. We were also constantly running and signing papers. But it all paid off. The rates and the terms seem pretty good now and the reverse mortgage has taken the pressure off of us. For one thing, we're not having to pay the mortgage payment, which was over $1,000 a month, and I am paying off our debt. I have about two or three more bills that I'm getting ready to pay things off on.

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    StaffLoan Process

    Reviewed Jan. 11, 2019

    I spent all of my money and the reverse mortgage was the last way to tap any of the assets that I had available for me. I looked at a lot of companies and Finance of America Reverse came out on top with one other company but I ended up going with this one. There was a combination of reasons and one of them was the person I was dealing with. Another one was that Finance of America Reverse's presentation of the closing cost was lower. I also got answers quickly for everything I needed. I have even recommended Finance of America Reverse to somebody.

    The process was fairly quick. It was quicker than what we thought it would be although we ran into problems with the appraisal of the property. The first guy came out and appraised it but then he died that weekend. So he was never able to enter his notes into whatever database he needed to do it in. We had to get somebody else back out here to appraise it and have him send his stuff in. That put us a week behind. There was also lot of paperwork and I don’t like any of the fees. A lot of the terms suck, especially since my wife messed up her credit and she didn’t have a credit that was able to pass with Finance of America Reverse. We had go into a situation that really doesn’t make me happy. But hopefully, when they reevaluate it in a year and a half, we can get out of that.

    Another thing is that the people Finance of America worked with pulled our credit reports three times. They have three pulls on mine and three on my wife's. It was ridiculous. I've been working on getting two of those inquiries off my credit report. I was a bit frustrated with the process. But the person I dealt with at Finance of America Reverse was ready to go at every step. Chuck gave me the option when the lady could come over and we could sign all the documents and get them notarized. He also kept me abreast of the information that I needed to get for him.

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    StaffLoan ProcessRates

    Reviewed Jan. 10, 2019

    A reverse mortgage fits me well for what I wanted and I found Finance of America Reverse online. I started with them and I liked how everything was going so I stayed with it. The application process was excellent. Everything was very good and went smooth. Including underwriting, the process took about six weeks. Everything was good with the loan officer too. I was very comfortable working with Mark and I was impressed with how he kept on things. He kept me informed on what stage the mortgage was at that particular time through the whole process. He kept me up-to-date on everything and I talked to him every two or three days. Also, the rate and terms of the reverse mortgage were excellent. I'm very pleased with Finance of America Reverse and everything in this experience was an A+.

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    Customer ServiceStaffRates

    Reviewed Jan. 9, 2019

    Our banker mentioned that it would be a good idea to get a reverse mortgage since we wanted to stay in our own home and not sell it. Because of our age, income was low. In addition to that, we had a personal line of credit and we didn't lock it in at 3.7. As a result, when the interest rate goes up, so does my house payment. It won't get any lower. I looked at Tom Selleck's company and it was right up there with the stars. Then somebody called me through Finance of America Reverse and for some reason, I went with them.

    We had difficulty in obtaining the mortgage though because our acreage is five acres, and we had it set up on two different tax parcels. A lot of it wasn't buildable too so we found that we could mitigate that and we wouldn't have to pay as much taxes on that. Also, we share a gravel road. We're in the country and we had signed the settlement agreement. Everything took a while since the parcel and the tax number was confusing. Other than that, the appraisal was fast. Although the appraiser disappointed me a little bit. He wrote down that we only had one bedroom and it wasn't so. We have a studio downstairs and we rent it out, and there's more than one closet there. Still, I was patient and didn't freak out about it.

    Besides, the financial guy who walked me through it all was calling all the time and checking on us. His name is Dane and he was on top of communicating. Dane was right there and knew all the answers. All in all, the application and underwriting process took about six weeks. We're pleased with the rate too as it was a bit less than our house mortgage. Best of all, Finance of America Reverse took away the pressure and the stress in our life. They got rid of the mortgage and allowed us the freedom to have the money to do things that needed to be done.

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    StaffLoan ProcessRates

    Reviewed Jan. 8, 2019

    My mom needed a reverse mortgage to supplement her income. The lady at Finance of America was nice, and the origination fee wasn't as high as others. Also, the process of obtaining the mortgage was easy and it was timely. The rates and the terms were comparable, and the reverse mortgage has eased some stress.

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    Reviewed Jan. 7, 2019

    After tons of emails & phone calls, successfully completing the 93-page loan app, the must-have "credit counseling" and taking inquiry hits to both our credit scores, the whole deal ended only because they could not supply a home appraiser in our area (really). Complete waste of time and money!

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    Reviewed Jan. 7, 2019

    I called in quite a few different companies and I chose the one that seemed to me to be the most straightforward. With Finance of America Reverse, I wasn't high pressured or subject to a lot of extra calls or anything like that, so I was well satisfied. Getting the mortgage was just as easy as I thought it would be but it was time-consuming which seems to be the way with any of those things. I was kinda ready for a lot of paperwork and red tape and that was what I got.

    The application process went smoothly as I had expected. Some things took a little longer than what I had hoped, but that's the way it was. The application and underwriting process took about two months and it was excellent with the loan officer. Cyndi did a good job, was always there to answer any questions that I had, and supplied anything that I needed. I was very comfortable working with her. Working with Finance of America Reverse allowed me to do quite a few things now and hopefully in the future that I wouldn't be able to do otherwise.

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    StaffLoan Process

    Reviewed Jan. 6, 2019

    Financial reasons prompted me to start a reverse mortgage. I was way in debt and not having to pay a mortgage was wonderful. I did it with Finance of America Reverse and they were great from start to finish. The application and underwriting processes were wonderful. It was an easy experience - Finance of America Reverse carried the ball and I didn't have to do anything. If I did have to do something, it was explained to me very carefully. The rep I worked with, Barbara, was also wonderful in every aspect of the program. She explained to me what was going on and why they needed certain papers.

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    Reviewed Jan. 5, 2019

    We had an existing home equity loan that we wanted to resolve, and we had made some decisions that we're gonna stay here in the house forever. We were looking to get a reverse mortgage and Finance of America Reverse was the first company that we talked to. Then we also talked to AAG, and I really liked the gentleman that we worked with with Finance of America. He spent the time that we needed to spend to educate us and get us on board.

    The application and underwriting process went really well. The first call that we had with him was probably more than two hours. He was explaining all about reverse mortgages. I had done a little bit of research about mortgages and I had a lot of questions. We spent some time talking about everything that was required. Then we made the decision that that was where we wanted to go. And from then on, I always felt like I could call him and ask him any questions. He stayed in touch with us and kept us informed as to all the progress.

    As I became more educated, we ended up going back and forth between AAG and Finance of America because when we talked to the counselors, they advised us that one of the ways that we could control some of the cost of the loan was to negotiate the interest rate. So we went back and forth three times between the two companies. And I like Finance of America better, and they continued to give us a lower rate. I would tell my friends that they need to be a little bit educated about reverse mortgages before they speak to anybody. But I would definitely recommend Finance of America.

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    StaffRates

    Reviewed Jan. 4, 2019

    I was going to do some work on my house and I didn't have enough on my retirement to do it. I then decided that I was good on my house because in the end, if I ever sell it, I'll get it back, so I did a reverse mortgage. Finance of America Reverse got back to me when I clicked on them. At the time, I had talked to several companies and Finance of America was more helpful. I went with them and applying was easy and fast. The rep whom I worked with was very helpful and she explained everything to me. Though I wasn't excited by their rates and terms, they made sense to me. Since then, I've already started work on my house. I got a very fair deal. I'd recommend Finance of America Reverse to a friend.

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    Reviewed Jan. 3, 2019

    I wanted to do some things around the house. I don't like living on a tight budget so I did a reverse mortgage. I went with Finance of America Reverse because it was local here in Indiana. Overall, I'd say they'd done a good job. To get started with the process, I got the information and read through it. However, right now, it's like I need an extra file cabinet for all the papers. It's just paperwork after paperwork after paperwork. I even got some paper yesterday from HUD, another file telling me if I don't get my money from Finance of America Reverse, that I'd do a certain procedure to get my money. One thing I would say about them is every time I turn around, I was getting a phone call about something. I am not used to answering the phone all the time. That was kind of repetitious sometimes, but I go on and not worry about it.

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    Customer ServiceStaffLoan Process

    Reviewed Jan. 2, 2019

    I would like to take this time to thank the agents of Finance of America Reserve. Chuck ** and Amanda were very pleasant and knowledgeable in explaining the process to me. Their professionalism made me feel so comfortable that I was able to ask any question and receive an answer to it. Chuck was so thorough! I appreciated his guidance in assisting me in this most difficult step in my life. I would highly recommend this company to anyone.

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    Reviewed Jan. 2, 2019

    I looked into using a reverse mortgage as part of my retirement plan and my former banker equated them with payday lenders. But I found out that the law was changed in 2009 and a reverse mortgage was a much better deal if you need the money. I talked to more than one lender and I ended up going with Finance of America Reverse. I liked the representative who called me up. You have to do credit counseling with somebody who knows a whole lot about reverse mortgages and I learned a whole lot. The more I learned, the more I thought that the appreciation value of my house which I've almost lived in 19 years would be a lot more than the interest on the loan, so it seemed like a good deal to me.

    Aside from the fact that the rep is from Texas, he also didn’t try to push me in any particular direction. He wasn’t in a hurry and he was very down to earth. He said, "This is what we do. This is all we do, and we're not gonna sell the loan." I had first called the company that does the big commercials on TV, but I liked Finance of America Reverse better. I didn’t like the finance company that I ended up dealing with. My first contact with the rep was a text saying that my payment was overdue. There were no letters, no statements, and no text. They were very nice when I was talking with them on the phone, but they never followed up and I wanted to get out from under that. I did a reverse mortgage, so I could pay it off.

    I already started with Finance of America Reverse and they sent a whole lot of paperwork. I had to sign my name a hundred times at least, so I kinda knew what to expect and I felt right about it. I bought my house in 2000 and I've refinanced it twice. The rate and terms can adjust in a certain range but the maximum is around 6, so it can't go to 15%. When I looked at how much I planned to borrow, it was far below the maximum that I can borrow, and it was a good bet. Finance of America Reverse is a very good company to deal with. I will send my friends to the same guy I dealt with who I really liked. I liked the way he did things and I liked his manner. He knew what he was doing and he was a decent guy.

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    Reviewed Jan. 1, 2019

    I thought it would be a good idea to do a reverse mortgage. I might as well get a use out of our money because when we just leave it to somebody, they waste it anyway. About two years ago, I talked to a lady from Finance of America Reverse. They were really nice, not pushy and they answered all of my questions. We decided we were not gonna do the reverse mortgage right then but when we decided to do it, we just went back to Finance of America because of the way they treated us when we talked to them the first time.

    The underwriting process was about a week from the time we started until about 10 days. There were no issues, they got everything to us and they sent a notary. My loan officer took her time and she called to make sure everything was okay. We stayed in touch through the whole thing. In fact, when we had the notary the one evening, she gave us her home number in case we had any questions. We called her and she answered our question. Everything was fine. I'd definitely recommend Finance of America Reverse. It's the place to go to. They were straight with us and it was awesome dealing with them.

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    StaffLoan Process

    Reviewed Dec. 31, 2018

    My best friend's spouse passed away at the end of January in 2018. I had a garage apartment, so we moved him in the apartment and I proceeded to start remodeling my house because I was using that for my computer room. I had a lot of stuff going on and I didn't wanna hit my 401(k) any harder than I had to, plus I gotta pay taxes on that money. The remodeling is pretty extensive this time too. A friend of mine mentioned Finance of America Reverse, so I checked into them and discovered that my wife and I were poster children for their program. We don't have any kids and all the bills are paid for. We also don't have any trouble making our tax payments.

    My loan officer, Chiara, was extremely professional, knowledgeable and friendly. I enjoyed talking to her and if I had problems, she addressed them. I had some issues with the appraiser that came out and I discussed them with her. We came up with a plan and she made sure that I didn't have to deal with that individual again. Another lady worked with Chiara and she got involved at the end of the process where I had a little issue, and she helped me out there. She saved me a whole bunch of time and money, something she didn't have to do. All in all, I'm extremely pleased with the entire process that I experienced with FAR. As far as I'm concerned, this is as close to free money as you'll ever get. The process took longer than it would have but we just had to go slow on some things. Once we got all the ducks in a row, everything went like it was supposed to. I'd give my friends Chiara's phone number and tell them to give her a call.

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    StaffRates

    Reviewed Dec. 31, 2018

    Finance of America Reverse had the lowest interest rates and we decided to work with them. We have never done anything like this before and everyone that we talked to was so kind, helpful, and patient. It was great. I worked with Scott and he was a very intelligent man. He was willing to share his knowledge and he was polite. He was never in a hurry and always took his time. He told us what we needed, answered our questions, and the guidance we received from him couldn't have been any better.

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    StaffLoan ProcessRates

    Reviewed Dec. 30, 2018

    Finance of America Reverse keep their own loans and they don't sell them so I decided to go with them. The whole process took about a month and the rates and terms are really high. They could always lower their interest rate. The application was an onerous process but Andrew, the sales rep, was really helpful in smoothing the way on that and all the estimates. He was extremely helpful, infinitely patient and very available. He was very easy to get a hold of and he did a really good job. I would have given up without his help. He was really on top of everything all the time.

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    Customer ServiceStaffLoan Process

    Reviewed Dec. 29, 2018

    I'm not quite retired but my partner is and we were at a point where we needed to have some extra cash. Things were a little bit tight. We looked at a lot of different alternatives such as taking money out of 401k and borrowing additional money against the house. A reverse mortgage seemed to be the best kind of option since we didn’t have to make a payment at this point. I was looking at two different companies, and I went with the quickest company. The agent from Finance of America Reverse went over and above. Their competitor offered a better percentage as far as loan to value ratio and he was able to match that percentage. There was a period of time when we were speaking almost every day and I liked his professional demeanor and the service he was giving.

    The application process wasn’t hard but it was time-consuming. I had close to 500 sheets of paper. He sent me quotes or we would get stuff, and it seemed like a lot of paperwork back and forth. I understand there are processes and things that had to be followed. There were a lot of details but it was a little bit converse. Nevertheless, the rep did an outstanding job and I have no complaints. He was very diligent and called me when he started this and we had rapport. We had a 3.125% mortgage, which is probably the lowest that had been in many years and going from that to 6.99% was a little bit of a shock. It was higher than most credit cards and other options that we had without taking money out of 401k and it was also higher than I would've liked. However, we weighed the options looking at our money as opposed to using that so, in the long run, it was okay. I was very pleased with the process and very happy that I was able to work with them.

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    StaffRates

    Reviewed Dec. 28, 2018

    Finance of America's application process was okay but the rates and terms of the reverse mortgage that I got from them could have been better. The adjuster was not very fair and I don’t think he knew what the hell he was doing. He was an ex school teacher so what does he know about buildings and land? Also, some of the properties that were sold in the area that are a third of my property sold for more than mine. And where I live on Cape Cod, it’s the property that’s worth everything while the houses aren't worth anything. But I didn’t wanna go through the hassle of paying them again. Other than that, Kevin, the rep I worked with, was very nice to me. He was very good and he helped me out a lot.

    .

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    StaffLoan Process

    Reviewed Dec. 27, 2018

    I liked the superior reviews of Finance of America Reverse and they had a quick closing. The application process was an arduous task but Kevin and Dana helped and made it a lot easier. They were professional. They told me what to look for and they also kept me updated. They were always there for any snags that went on which were few and explained the reason for everything. I was impressed with my experience with Finance of America. They held my hand the whole way through.

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    StaffLoan Process

    Reviewed Dec. 26, 2018

    Finance of America Reverse offered more than another company that I was working with, but their application process took a very long while. First of all, they had me go through the procedure of divorcing my husband of around 20 years. I had to find him in Mexico and file for a divorce. The earliest it could have been done was six months, so we went through the waiting process. They knew that he had been deported and would never be allowed back in to the States again. He could never come back and try to claim the property. His name was never on it, although it said on my title that it was a married woman, and that was the problem.

    The rep told me he wouldn’t charge me for a couple of things if I switched over from the other place, Live Well. I switched from Live Well to Finance of America, but I got charged for a lot of things that I shouldn’t have been charged for. The $550 was supposed to come out at closing, but it didn't come out. He never paid for it and he sent me a Gmail that I had to pay for it and that at least now, I had the money to pay. However, I didn’t have the money. I was very disappointed with the amount that I got for the appraisal that I got on my house. The bit of money that I got buried paid the bills that I owed, but I still owed some bills. It wasn’t that great, but they told me I had 10,000 more in the credit length, for about a year, that I could get.

    I was not happy with the money I received and I did not know what I was going to receive until it was already done. The guy that was working with me sent me some papers about the closing issues after I asked him four times. I finally got them, but I got them around the same time that the money finally made it into the bank. The money was such a little amount and I was embarrassed to tell my friends what I got from my loan because it was so little. I thought the company was really gonna be good. My mom passed away the day after Thanksgiving and now, I have to have money to go all the way to Washington, and it’s going to be very hard for me. It would be another hardship that I have to put up with because of all the extra things I had to pay.

    Finance of America Reverse gave me something, but they pressured me to the point where I felt like I didn’t need the loan that bad. I went ahead with it, though, because I had so much invested in it. I was to the point where I was ready to stop it three times but that would have been like throwing money in the garbage. Then, while the process was going into closing, the rep went on vacation to Cancun for a week or so and handed my case over to his boss or his manager. I did not understand how it worked out at the end. The rep did not want to tell me the exact amount because he probably knew I would turn it down.

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    Customer ServiceLoan Process

    Reviewed Dec. 25, 2018

    I got a mortgage from Finance of America Reverse and it was the worst business experience I've ever had in my life. I was starting to build another company and I spoke to Finance of America Reverse. I was talking to this one guy and all of a sudden, he disappeared. I kept leaving messages and nobody picked them up and got back to me. I finally called somebody else and I was told that he went on vacation. So, it was very disturbing. They said there was something wrong with my application. I asked what it was but they couldn't tell me. They said that I couldn't talk to their lawyers so they made me hire a lawyer to do that which costed me about $3,000 to fix a very simple problem, and it just went on and on and dragged out. I would never recommend doing business with Finance of America Reverse.

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    Customer ServiceStaffLoan Process

    Reviewed Dec. 24, 2018

    So far, I've had a good experience with Finance of America Reverse. I'm very happy with their rep, Andrew, who has been a great person to work with. I got 30,000 on my closing and I haven't done anything as far as getting more money from them, but I'm thinking about it. Before I went with them, I had another lender, AAG. But AAG kept bothering me and I don't like that, so I just didn't respond to them, even if they still send me stuff.

    During the application process, Andrew walked me through what was gonna happen. He prepared me and we got along very well. The application and underwriting process went fast and took two weeks to be finished. We had the appraisal along that as well and that took some time. Overall, the lending process was overwhelming, so it was good to have someone that walked me through it and made me feel comfortable with it. One of the things that Andrew kept referring to was his mother, who was interested in it, so that helped put things in perspective for me.

    I just accepted the rate and terms that they offered since I'm not knowledgeable on that area. I felt comfortable with Andrew's suggestions, his preparation, and everything that he did to get me through this. My loan was easy go, as my home is paid for and I don't have any other debts, so we expected it to go quickly and it did. I'm settled for the rest of my life with this reverse mortgage and I'm not planning to do any more than what I have. I would definitely recommend them.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Dec. 23, 2018

    I had a 100% equity on my home, so I thought I might as well get a reverse mortgage. Finance of America's rep, Matthew, was really nice. He made me feel like he knew what he was doing, and he was trying to help us, not himself. The application process was really good. Everything worked out really well. We had a couple holdups because we made mistakes and Matthew called us back and helped us with it. He was on our side. We felt very comfortable with him. Finance of America's rates and terms were very reasonable. Working with them got us the money we needed. They were excellent and cared about us more than anything. They walked us through all the problems and helped us out a lot. So I like what they’ve done. I'd recommend a friend and a family member to use them.

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    Reviewed Dec. 22, 2018

    My wife passed away about a year ago or so, and it was a very complicated thing. I thought I could get money out of our house, but I couldn’t. The reverse mortgage was a means to get my hands on some cash. It gave me the opportunity to clear up a bunch of bills and be able to make it on what I get from Social Security and retirement. We paid the house off, and it was worth about $209,000 or so, but I couldn’t get anybody to lend me any money on the house because I had high credit debt on all my credit cards while I tried to survive when my wife was so sick. Working with Finance of America Reverse worked out.

    Finance of America took the time initially when I called to talk to me and listen to what I had to say instead of passing me on to somebody else. I have called a number of places and I told the rest of them to go take a flying leap because Finance of America was very professional. I gave a date that I wanted to close it in and they said that it may be tough but they will try. They did everything that I could ask of them, so I was very pleased. I had all my files and I had them all gathered up so the application process was a breeze. Robyn, my counselor, was very good and extremely helpful. I only worked with her and I didn't get bounced around a bunch of different people. She followed up and emailed me timely. If there was something coming up, she made me aware of it and she was proactive. So everything was good. Plus, the rates and terms were better than the 23% I was paying on my credit cards.

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    Reviewed Dec. 21, 2018

    I'm on Social Security, and my bills were more than what I was getting each month. It was just too stressful. I was getting behind on everything and borrowing money from people. So, I needed to get rid of my house payment. I called Finance of America Reverse and I really liked the lady on the line that I talked to. She was very nice and very knowledgeable. She always either answered the phone or called me back. I didn’t have to keep calling her or wait days. She always called me back promptly, and she was always helpful in answering any questions I have, and she went over everything that was really important to know. She always let me know what was going on and when it was gonna happen and who was coming, so I knew who was gonna be knocking on my door.

    The application process was pretty easy. I got my house appraised, and they paid for that, which helped. And then, I had to take a course which I had paid for, and then they had somebody come out with paperwork and notarize it. Everything went along smoothly. The rate I got from Finance of America Reverse was pretty good. It was one point higher than what my loan was through the bank, but it was still low enough. I would recommend them.

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    Reviewed Dec. 19, 2018

    We didn’t have good credit. We have the house, and we’re over the age of 62 so we got a reverse mortgage. My husband, Barry, had done a lot of the research and he liked them the best. The application was easy. First, we filled out the application and then we kinda put it on hold for a bit because we weren’t sure if that was what we wanted to do. But then we decided to move forward, and once we did that, it was a short and smooth process.

    I knew one of the first people my husband worked with, Cody. He got switched out of that department, and we were put in touch with another person, Andrew. Cody was wonderful, but Andrew was even more wonderful. After we put everything on hold because we weren’t sure, Andrew got involved again and he kind of eased the pain and talked us through a lot of our questions. He still has kinda kept in touch with us after. Cody and Andrew were very knowledgeable and they helped us. Everything was all settled and closed. The rates and terms of the mortgage that we received were also good.

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    Reviewed Dec. 19, 2018

    I liked the salesman from Finance of America Reverse and I made a gut determination that he would do a good job. I talked to a few other lenders and then I found the least of all amounts. However, Finance of America Reverse didn't have the expertise to calculate how much the net percentage would be after having the loan from July the 5th until November the 5th. I understand at first the least account. But that's the stupidest thing I've ever seen in my life. They read me the qualifications, and then, my credit was terrible. I may be first to admit but based on the criteria for exempting a person or having a logical explanation for why a person's credits are bad, I actually qualified to be exempted.

    When I got my loan, it was $10,000 less than what they told me. I thought I had it at 62,000 and could have lived with that. I was gonna have a window of exposure until I upgraded the insurance after the loan closed. They knew I was gonna do that since I was upfront with the rep. But it was too late by the time they gave me the signed amount. The rep assured me he was gonna monitor it. He's probably one of Finance of America Reverse's best salesmen. But what he needs is the orientation on the product and have more time with each product. I've had a $325,000 asset for $52,000 worth of loan and that's not very good. It wouldn't have happened if the salesman spent a bit of time with me.

    The interest rate was also a problem. Finance of America Reverse sent me a thing out with the expected interest rate, and then they sent amortizations with the initial rate. They said it's locked in the interest rate. I had 277 pages of loan documents and I was supposed to sign it right there in front of the notary, so I didn't have time to review and I couldn't digest 277 pages. Until I got the loan, I didn't know the mortgage amount is 1.5 times the climb amount. I thought that was odd. I know that doesn't mean I owe 1.5.

    I was already upset that I was getting less money than I was supposed to. In my case, I spent 10 months with no money, no utility, and the loan officer knew that I really needed the money. I got the stuff on Monday. So, it was three days before they could disburse the funds. I had already spent from July the 5th till November the 5th, so I couldn't just stop and start over again. But instead of doing the work and getting the loan disbursed on Friday so I could get it, they waited until Friday afternoon to wire it. The banks were closed on Monday, so I was without money from Friday, Saturday, Sunday, and Monday. I think that was intentional since they wire money every day. That was the icing on the cake when I went ballistic.

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    StaffLoan ProcessRates

    Reviewed Dec. 18, 2018

    Knowing a little bit to start with, I checked with two or three companies about a reverse mortgage and it was like they were trying to sell a product versus getting me the best information and the best plan for me to do - and that’s the difference with Finance of America Reverse. William was the guy that helped me and he was more concerned with my goal and my plan. That is a huge difference, especially when talking about a reverse mortgage because the impacts would be until you die. I had checked the company out as well and it's a big company. They have multiple offices all over and my representative, it was like he was next door. FAR also holds all their own paper on reverse mortgages. Everything is set up and they don't resell it.

    I really like the way that William approached things, he wanted to make sure that I understood what my options were and he was always available. Plus, he was extremely knowledgeable, even more than the FHA people that were assigned to give counseling on reverse mortgages. Before you can even do a reverse mortgage, you have to get some counseling, and the gal that counseled us wasn't quite exact on a couple of issues that had to do with my wife. William, on the other hand, had all the right answers for all the questions. So, there was never a doubt when we decided to do it. We were thinking about selling the house and moving somewhere else. This gave us the ability not to sell the house and still do some things we wanted to do.

    We also went over all the closing cost and information beforehand. We had three options in doing that reverse mortgage, and then he came up with the best solution for us out of the three. We got a very favorable rate, and if I do any one of the options, we didn't have an extra $6,000 of closing cost. Once I finally made a decision, everything was completed in about two months. It was a little faster than I thought it was gonna be and things went very smoothly. The escrow numbers were also right on, and we even got a small check back because there was a refund after we closed. Finance of America Reverse is a wonderful company, and I recommend everybody to check into them before they do any kind of reverse mortgage.

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    Reviewed Dec. 18, 2018

    I had 4 different mortgage companies that submitted bids and Finance of America was more persistent than the others. Their application process was fine. I dealt with Ian who was very patient. He never made me feel like he was too busy. He also answered my questions. I talked to him almost every day and he was there for me during the application process. But after we closed the loan on October 31, I have not been able to reach him. I had questions and I have sent an email, tried to call him and left messages but he has yet to return my calls. That aside, the mortgage rate I received was pretty much what I expected.

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    Reviewed Dec. 17, 2018

    Finance of America's application process was fairly upfront and the lady I had was very helpful. Once I got the application in, the process was really fast. I would have liked the rate to be a lot lower but they were still less than most of the places I called. Finance of America has been great.

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    Reviewed Dec. 17, 2018

    I was not happy with the process of obtaining my mortgage with Finance of America Reverse. The loan rep was all right but it took a while to do the process. It could have been done differently. The appraisal was supposed to be done in the town that I live in. However, the appraiser was from out of town. I also think that our house was appraised too low. Nevertheless, their rate was average and I paid off what I wanted to pay off.

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    Reviewed Dec. 16, 2018

    Trying to get my parents out of the monthly mortgage, we checked Finance of America Reverse on the website and they had good reviews. We applied with them for my parents and the gentleman we dealt with, Josh, was as upfront and honest about everything as anyone else could be. He was fantastic. He would stay in contact with my wife through email and phone calls and let her know what was going on and what procedures needed to be done next. He was a very upstanding young man. My wife and my parents were mainly the ones who dealt with him, but everything went smoothly. I would recommend Finance of America Reverse 100%. If there's anybody out there who's looking for a reverse mortgage, check them out.

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    Reviewed Dec. 16, 2018

    Finance of America Reverse was excellent. They had a lower interest rate compared with other lenders, and they were the one who ended up waiving the $5,000 application fee. When I went online and inquired, Gary was the gentleman who ended up giving us a call. He was absolutely wonderful to deal with. Gary was on top of everything. He was also very friendly and upfront with everything. He told us what was gonna happen step by step and when it was gonna happen. When we got done, I felt like he was a friend and that I had known him all my life. He even called us after we had closed. I never expected to hear from him again but he called us to wish us a happy Thanksgiving.

    The process was very easy and it took about a month from start to close. We had to give them our finances and we also got them in touch with our financial advisor so that he could give them all the information that they needed. And then they checked our credit and went through everything. We also had to do a phone course that told us all about reverse mortgages. It cost us $125 to do so, but we understood everything. It was very informative.

    We did not know, however, that we had a lien on the house. Two years ago, we put solar on our roof, and we financed it for 10 years. We had to call the company that we had the loan with for that and get them to release the lien until we closed. There was a $350 charge for that, and Finance of America Reverse ended up paying for it. They reimbursed us, which was wonderful of them to do.

    As we worked with them on the reverse mortgage, they were very informative about everything. They explained that if we're planning on staying in our house and wanted that added income, plus not be worried about what happens afterwards once we were gone, then that was the way for us to go. Our financial advisor said the same thing. It's a big burden off of us. It was like $1,300 a month that we don’t have to pay anymore and we don’t have to take out of our 401k for the rest of our lives. I would recommend Gary and Finance of America Reverse.

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    Reviewed Dec. 16, 2018

    Monica was the salesperson at Finance of America Reverse and she was the one I mainly worked with. She was an incredible woman and she has a routine. She was fine. Also, the rate seemed like it was as good as anybody else's. The application and underwriting process took a month and it was okay.

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    Reviewed Dec. 15, 2018

    With Finance of America Reverse, paperwork was extensive and time-consuming. It took about 60 days to get the whole thing completed once I made the decision to go ahead with it. They also spent a lot of time making sure I understood what I was doing which was a waste of time because the company sent enough information which if you read them, you’d understand what you’re doing. So, for us, the counseling was unnecessary but for somebody who has no idea what they're doing, it's probably a good idea.

    I’ve been in banking and the gentleman they sent out didn’t do a really good appraisal on our house which was not very professional. The amount that he came up with wasn’t that far off, but what he did was look at the comparables. The ones that he used were okay. But I wasn’t impressed with that function when he came out. He even requested a copy of an appraisal and he shouldn’t need one. On the other hand, the inspector that looked at the house was okay and did a fair job. Also, the follow-up and contact from my loan officer was superb. He was low-key, polite, knowledgeable, and calm. He wasn’t trying to sell me something. He was just trying to give me answers to my questions.

    I also had a pretty good-sized line of credit against the house. It was undrawn but was available to me. They kept asking for a lot of information from the bank when all they needed was a payoff. They even had to talk to the treasurer on the homeowner’s association to make sure I paid my dues which was embarrassing and insulting. My credit report’s above 750 and they knew that ‘cause they got a credit report. I understood what they were trying to protect against but that was unnecessary.

    Finance of America Reverse's end rate and terms weren’t the best. I had a better offer from another company which would have been an eighth of a percent cheaper but I turned them down. I didn’t like their approach. They were so pushy unlike with Finance of American who convinced me that they would not sell the mortgage. They handled it through one of their own companies that was a subsidiary which was not the same as selling it on the open market and having me deal with the same mortgage firm for the rest of the life of the loan. I wanna know who I’m dealing with.

    Since working with them, all we were doing was trying to take advantage of some good-sized equity we had in a pretty large fixed asset and looking for tax-free income. We don’t need the money. We just wanted to have it in reserve that we could count. I had a small house for rent around $900,000, and we had a 160 mortgage on it. And so, I let them pay that off. I took $15,000 just to put in excess cash. So, it was more of a stop-gap for us. We don’t intend to draw a lot on it. I won’t pay it off, I’ll just pay it down and leave that line of credit in place.

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    Reviewed Dec. 15, 2018

    I was on the computer checking if I wanted to do a reverse mortgage, and by putting in and getting information as far as to see if I qualified, Finance of America Reverse was one of the people that called. Once I found out who they were, I did a little looking-them-up to see where they stood amongst the people who were giving the reverse mortgage, and they were rated good. When I talked to their rep over the phone, she gave me a general information on what was going on. And after that, once I decided I wanted to do it, they called, and I had to talk to them for about a half hour to 45 minutes. They explained and went into more detail about what it was about. I had questions, and I asked them, and they were able to answer the questions that I needed to know. And after that, they sent out a couple of people and an appraiser.

    Everything seemed okay to me and it got done quickly and efficiently as far as I was concerned. The rep who helped me was very knowledgeable. She was up on it. I was able to contact her whenever I wanted. She made herself available for me whenever I wanted to talk to her about stuff. My experience was good and I would recommend Finance of America Reverse.

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    Customer ServiceStaff

    Reviewed Dec. 14, 2018

    I couldn't afford to stay in the house if I didn't do a reverse mortgage. Finance of America Reverse called me and the staff there were all very nice and helpful. They put the mortgage together for me and I was very pleased with them.

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    StaffLoan Process

    Reviewed Dec. 14, 2018

    I had a reverse mortgage for the last three years, but it wasn’t in a local company. It was somewhere else, so I used the closer one the second time to do a refinance. My experience with Finance of America was very good, but the process that I had to go through was a lot of paperwork. There were many papers to fill out and it was like buying a new house. I was working with the same company and I thought that I wouldn’t have to do all the paperwork, but I did. However, the end result was wonderful, so I was happy. The guy I worked with, Toby, was wonderful and was always available, so everything worked out well. He rushed it through and it was around five weeks for the whole thing. I felt very comfortable working with my loan officer and he was very helpful all the time. Everything went smoothly and I would certainly recommend a reverse mortgage to all my friends, which I have done already.

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    StaffLoan Process

    Reviewed Dec. 13, 2018

    The application process with Finance of America was very bad and they were not truthful about the general information. The financing is made for elderly and abusing the elderly and not putting the right information is a total abuse. The people from Finance of America are either not knowledgeable enough or they twist the reality. They make people understand something else that is not true. For instance, the money that I do not get the first year is collecting insurance and it's growing but this is not true. It's just additional credit that would be given based on having a good payment history.

    Also, we have not received a single bill statement telling us what to pay or how much we owe to pay for this month. The dilemma we have is, they tell us that we don't have to pay but it's not for them to decide if we want to pay or not. Then, after we complain to them that we don't have a bill, somebody sends us a card that says it's our second notice and that we have to pay. All of this game shows that this company is not legitimate and if they don't put their act together, they're not gonna be in business very long. I hope someone from any department calls me right away and I want them to immediately put their billing in order and the statements to be received by us without any delay.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Ms. Sahim,

    Thank you for the opportunity to address your situation. We strive to provide excellent customer service and take your feedback very seriously. If your concerns have not been relieved by your recent conversations with our upper management, another member of our team will reach out to you to further discuss the details of your mother's reverse mortgage.

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    Reviewed Dec. 13, 2018

    Finance of America Reverse was highly rated so I went with them but I ended up not having a good experience with them. I have been on disability since 1994. I got behind on my property taxes because my income was like $750 and I needed to do a reverse mortgage to keep myself out of foreclosure. I had a lot of extra expenses for home, healthcare, etc. I called Finance of America, gave them my information and they asked me a lot of questions.

    My agent, Toby, knew I was at my last recourse, and I told him right off the bat, I knew it was very important that I was on disability because it'd make a difference. He kept telling me I was going to get some money at close and instead, they put $58,000 back for Theresa and I got a check for $400. I was desperately in need for dental surgery and to bring my bathroom up so I could at least get my walker in there, and I was deliberately baited by him. I found out the day before it was supposed to close that I was getting nothing. So, I refused to close. I talked to him again, he told me I was still going to get money, and I didn’t. He must have known all along that they were gonna withhold all of that money until I turned 81, which with my bad health, I'm never gonna live that long. I know the process but I was lied to and manipulated.

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    Finance of America Reverse
    Response from Finance of America Reverse

    Hi Patricia,

    We are very sorry to hear that you were not satisfied with the amount of money we were able to lend to you. Someone from our customer service team has reached out to you by phone in an attempt to resolve your concerns and further clarify why the amount of cash at closing decreased due to the higher cost of your new homeowners insurance policy.

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    StaffLoan Process

    Reviewed Dec. 12, 2018

    Finance of America Reverse was right on top of everything. I had a lot of questions and their rep answered the questions. The process was like buying a house all over again, with the credit reports and papers filed. It took a couple months, but most of it was because I couldn’t find the paperwork. If I could’ve found the really old paperwork earlier and quicker, it would've been faster.

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    Reviewed Dec. 12, 2018

    I was considering another lender along with Finance of America Reverse, and though Finance of America came second, their sales guy was the first to roll himself out very quickly. So, I was happy with him. They were willing to negotiate based on the quotes that I was getting from the other company. Also, the law says you have to have a counseling appointment with somebody, and I called that guy back later to get some guidance from him. He helped me through the process. By the time we got through the process, I ended up with a much better offer compared to the first quote that I got. I'm not a big fan of lenders at any time, but Finance of America didn’t seem to be too bad.

    We got the whole thing done in under six weeks, which was fairly quick. They sent a notary type person out when I did the application, and then we did the appraisal. It got slightly delayed because they were giving me quotes based on being age 70 and I'm only 69. They told me that it's whichever birthday I am closest to, and so I opted to wait until after October 20th to make sure I was qualified for being 70. Unlike a lot of salespeople, the guy that I was working with didn’t exaggerate things too much. He was honest, and even though he works normal business hours, he gave his number in case I had an issue on the weekends. So, I was quite pleased with his service. I would recommend Finance of America.

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    Reviewed Dec. 11, 2018

    This is a new product. It's a second mortgage reverse allowing us to take money out of the principal in our house without refinancing. Lots of paperwork, very complicated requirements etc. It was made easier by Monica ** helping us and giving us the information we needed. It was an above board operation, with few surprises.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Dec. 11, 2018

    I got some bills I need to get caught up with and I had a high mortgage. I looked at a list of providers and I picked out Finance of America Reverse. I called them, talked to Aaron, and he took over from there and explained everything to me. I had good interactions with the loan officer and I was were impressed by the whole thing. Everybody I talked to seemed to know exactly the answer to every question I had. They all seemed like they really knew what they were talking about. The rate and terms of the reverse mortgage were good and I like the rate. Hopefully, I'll keep liking it too. Working with Finance of America Reverse took a lot of stress and worry out of me and I feel a lot better since I did that. I've no regrets. They did a lot for me. I like them and I think others would as well.

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    StaffLoan ProcessRates

    Reviewed Dec. 11, 2018

    My experience with Finance of America Reverse was very positive. I liked the guy I was dealing with. He was very personable and followed up a lot. He answered all my questions as well. I wish the rates were lower, but that’s about what I expected it to be.

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    StaffLoan ProcessRates

    Reviewed Dec. 10, 2018

    I called a couple of lending companies, but as soon as I talked to Caroline from Finance of America, I knew she was the one I was gonna do business with. She sounded so personal and friendly. The application process was very simple. I just had to share to them how much we made and our bills. Caroline explained everything to where we could totally understand it, and that’s what I appreciate. She was always available for us at any time. We're very happy with the mortgage rate and terms that we received. Working with Finance of America definitely made our life better. We were able to pay off our bills with the loan that we got.

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    Reviewed Dec. 10, 2018

    We needed backup cash in case there’s a medical emergency. Ernie from Finance of America Reverse was a good salesman and provided all the answers. On the other hand, other companies didn’t even bother calling back. With Finance of American, the process of obtaining the mortgage was easy. There was a lot of paperwork. Still, the process was completed within three weeks. The rate was a little higher than I anticipated but it was within the range. Working with Finance of America Reverse turned out well.

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    StaffLoan ProcessRates

    Reviewed Dec. 9, 2018

    I was recommended to Finance America Reverse by the HUD people in my city. I was four hours away from foreclosure and it could have been a real tragedy but the girl who I worked with, Amber, was an angel that fell out of the sky. She handled everything and she was magnificent. She's tough, adorable, and a pro. She knows what she's doing. The process started when I got the first notice of foreclosure and then it took a month or so only because we kept hitting bumps in the road. The rate and the terms of the mortgage were all fine. While I had no other options, it worked out perfect for me. Now, and I'm safe and warm in my house.

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    Customer ServiceStaff

    Reviewed Dec. 9, 2018

    I had my foundation repair back in 2014 and I paid around 8,000. When the appraiser came out, he noticed that I had a foundation repair and they wanted me to have Jericho Foundation to come back out here. I sent them the copy of my receipt and they saw that I have a lifetime warranty. When Jericho came out, they said that they did whatever was under the lifetime warranty, but they also said the house has shifted some. They had to do something else that was not under the warranty, so that made another expense of around $5,000.

    I had to make repairs outside my house with my money that I had. I had to do my eaves, for my homeowner's insurance purposes, and the roof. I had to pay cash, so all of my savings was gone and I was worried about paying the back taxes. When Jericho Foundation gave me the bill for $5,000, I didn’t have the money, so Finance of America Reverse paid for it. I paid for my counseling fee and there was also something else they wanted me to pay for. I appreciated that Finance of America did what they could, but it seemed like it was a rip-off to me. They changed the homeowner's insurance. The homeowner's insurance I had was reasonable, but Finance of America said they needed to call and had it taken out. I was pressed for time and I just went on and did the reverse mortgage.

    However, I’m not able to do anything with the things that I had thought I could do or redo in my house. I know other people who have done a reverse mortgage and they got extra money even though their houses were in worse shape than mine. If I start telling people what I did, they would say that they wouldn’t have taken it. I also wouldn’t have taken it, but I had to go through a lot of procedures, so I just said that the back tax will be paid and that’s what I’m most concerned about. They paid my back taxes of $8,000 and now I can live in the comfort of my home.

    I just felt like it was an expense that I did not need at that time, and it was like they wanted me to do as much for my home as I could so that when I died, they wouldn't have to do that much. That left a bad taste in my mouth. I was really upset. I will not recommend them to anybody. A friend of mine is doing her reverse mortgage, but I gave her another company, the number one company, and I told her I wish someone had told me about them before.

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    Customer ServiceStaff

    Reviewed Dec. 8, 2018

    A friend recommended Finance of America Reverse and the application process was concise. They took the time to explain any questions I had to the best of their ability and the explanation was done quite well and in-depth. I worked with people who came to the house and it couldn’t have been any simpler. I could have been severely handicapped and unable to leave my home, but I didn’t have to leave my home. Andrew on the phone was very helpful and took care of a lot of questions. The procedure took longer than what he was hoping but it was on my procrastination, not his.

    The house appraised for a lot more than what they ended up buying it for, but that’s how things work and there’s not much you can do about it. Things fluctuate and change from one month to the next. My wife just died and I could’ve sold our house on the market for more than I let it go for, but there's a benefit in staying at the home. I don’t have to worry about paying either rent or another mortgage. I weighed it out and it balances on the scale.

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    Customer ServiceStaffRates

    Reviewed Dec. 8, 2018

    Finance of America Reverse services their own loans and they don't sell them. They had a better rate as well. They were lower than the other ones, but they were higher than a typical mortgage loan. Also, I’m not pleased with the FHA insurance charge. I think it was excessive. The application was fairly easy. But then I had some complicated income to show and so, that took a little bit longer. I worked with all women and they were wonderful. Nicole was my loan officer and she was nice to work with. I was very comfortable working with her. I could talk to her every day if I needed to. She was quick and very responsive. Sometimes, she didn’t pick up her voicemail, but I kept calling her and I would get her eventually. So, we were good.

    There was a delay in getting my supplemental income approved. So, if there was a little more communication with that, that would have been nicer because we sat and waited for answers, and we were getting close to the cutoff date of when I needed to get this accomplished. But they were good. They were accessible all the time. I highly recommend Finance of America Reverse.

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    Reviewed Dec. 7, 2018

    We were trying to figure out a way we could stay in our home. Our income is not too big. I didn’t have a big retirement, and we had $100,000 with equity or more in the house. I felt that a reverse mortgage was the best way that we could stay here until at least one of us dies. I was looking up on the computer and there were two companies that were advertising on a particular page. I talked to both of them and Finance of America Reverse had a better deal. I got dealing with Ernie and he was good to work with. A couple of times, I've made calls wondering exactly what I was to do. And he was helpful, seemed very positive about it, and answered my questions. I was pleased with him and it was a good experience.

    I was a little doubtful about a reverse mortgage when I started it, and Ernie assured me that it was probably the best way that we could use the money that was in the house and still stay here. We talked about refinancing, and how the payment goes up a couple of $100 a month. We'd have money in the bank, but then we'd be just maxing ourselves out every month as well, and we decided that wasn’t a good idea.

    The process was all new to me. Finance of America Reverse sent an appraiser out here. We had certain things that we were in the process of doing to take care of those needs for the appraiser, but that wasn’t a real big deal. The application and underwriting process took a couple of months. We talked about this reverse mortgage for a year or two, so a couple of months wasn’t a problem at all. And because of that, I made it known that I wasn’t jumping up and down needing money in the bank that week. If I had pressed it, they may have done the process faster. But so far, the lending process has been good. It's nice not having to make that house payment every month, puts extra money in my pocket, and we got enough cash in the bank that took the fear of running out of our minds. The experience with Finance of America Reverse all went well.

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    Reviewed Dec. 7, 2018

    We don’t have children, so we don’t have to leave our house to anybody else. We also don’t wanna have a full value of the house go somewhere where we don't know until we pass away. We had no mortgage and we like to do some things that we can use the money for. We chose to go with a reverse mortgage. A new roof is being put on and I’m going to use the money out of this process.

    The first time we went for a reverse mortgage, the company that was doing it at that time was a complete disaster. But this time, our Finance of America Reverse agent, Ernie, was excellent. We knew the process already, and he handled it close to perfection. If I had a question, he had an answer, and he was correct every time. If I couldn’t get him on the phone immediately, he always called back, mostly within an hour. Our experience this time was good. Finance of America Reverse's rates could be a bit better. But overall, it still came out pretty decent.

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    Reviewed Dec. 6, 2018

    I wanted to help my brother get a motor home that we could travel in. I didn't owe much longer on my house so I decided to get a reverse mortgage. Finance of America Reverse sent me some information and I got in contact with them. The application process took a week or so. I had to fill out a lot of papers, go through my credit report, and make any explanations on that. I also had to go through counseling before I could get my loan and I got a certificate for that. Then somebody had to come out and do my paperwork, and that was about it. It was easy. I worked with a great loan officer named Matt and he was super nice. He helped me with everything. He always called me back when I called him or text him and did whatever was the easiest for me on getting the information to him. The rate and terms are okay and I will do my best to pay off what the interest is each year. Finance of America Reverse is great to work with.

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    Reviewed Dec. 6, 2018

    We needed a bit more finance and I tried to do a reverse mortgage three times and there was always something with other companies where I spend money getting all of this counseling and at the end, we don’t get anything. But with Finance of America Reverse, it wasn't the case. Matthew was a person of his word. He was our loan officer and he was sweet, and if I asked him anything, he would give me an answer. He said the reverse mortgage was at a certain rate, and if we waited long, it may go down or up. But he tried to get us the best rate that he could. We need more like him. He tries to really help somebody instead of trying to help himself. We still talk every once in a while, and he’d be saying if there’s anything that we need, we could get in touch with him. They would be willing to help us, and you don’t get that too often.

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    Reviewed Dec. 5, 2018

    I needed to see a better reverse mortgage. I called a couple of people and Finance of America was the one that called back first and they made everything work out. At least we could do the reverse mortgage. It was also good working with the loan officer. She answered the phone every time I called. There was a lot more paperwork than I thought there would be but other than that, everything was okay. The process took as long as it needed to take. They did a good job and I was very satisfied.

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    StaffLoan Process

    Reviewed Dec. 5, 2018

    I wanted to make my retirement a little better and more comfortable. Finance of America Reverse seems to offer the best deals and so like they care. I got a reverse mortgage from them and the process went through very well. Everything went very smooth with the few steps we had to take. I mainly spoke with Julie and she was terrific. The people who also came down here and did the closing and whatnot were all very good. It's an expensive mortgage, but that's the way life is. It was a good experience and I would definitely tell others to go through Finance of America Reverse.

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    Reviewed Dec. 5, 2018

    I did a look-up on Google and Finance of America was rated number two after AAG. Jason from Finance of America Reverse called me. He was delightful, very smart, knew all the tricks and an MBA like myself. He made the process easy. He would email me and answer my questions. He'd get back to me instantaneously. Sometimes, we talked and had a good time. I did a second reverse mortgage adding about $87,000 given the price of my home had increased to 1.5 million.

    Blackstone owns Finance of America, which impressed me. I’ve been following the stock market since 1970 and Blackstone is a big deal on Wall Street, so I knew I wasn’t dealing with some fly-by-night firm. But I was concerned with the rates because it said compound interest. It is a 6.99, but then it's a reverse mortgage and it does not have FHA insurance. I'm also getting many letters and fake calls from people who want me to do a reverse mortgage. The application process went very quickly though. More so than the reverse mortgage I did in 2014 with some other firm. Plus, everything was done correctly.

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    StaffLoan Process

    Reviewed Dec. 4, 2018

    We're getting too tight so I got a reverse mortgage with Finance of America. The application process was interesting. It took a while with a few different perturbations here and there. It would have been easier if there weren’t a couple of problems we had to fix. But one of the reps, Joseph, stuck in there and helped. I was reasonably comfortable working with them. Finance of America Reverse took a lot of pressure off us.

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    Reviewed Dec. 4, 2018

    I talked to AAG and Finance of America. Finance of America had a slightly lower interest rate and they do not sell their loans. The application process was long and laborious. You have to sign your name 500 times on application. Then, you have to sign another 500 times on closing, and it just seems to be almost to the point of ridiculousness. There could have been less papers to sign. But other than that, the experience was fine. The people I’ve dealt with were fine. Taylor kept in touch and he called if I have any questions. He was just extremely personable. We had a lot of chit-chat as opposed to just strictly business. He even sent me a Christmas card already. I had a lot of second thoughts about the rates and terms of the reverse mortgage because I ended up with twice the liability on the house than it had, just with closing cost, the fees, and the insurance. But overall, I was very satisfied with Finance of America.

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    Reviewed Dec. 3, 2018

    I just wanted to praise your agent, Luan **. She was on top of everything and always had time to answer a question. She walked me through the process from beginning to end. She was also one of the most pleasant people I have the pleasure of dealing with. From start to finish it was one month. Well done.

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    Reviewed Dec. 3, 2018

    I wanted to make sure that in my last days, I can live and have enough money to do whatever I wanted to do. I chose to get a reverse mortgage and other lenders didn't take time to really talk about it. With Finance of America Reverse, they sent me to counselors and once we got it, they called me all the time if there were any questions. Also, I went to my attorney and talked with him. We did a lot of research and I picked Finance of America. I liked their service. Once I decided to go ahead with it, I called the lender back and did the application. Then, I waited for that to come back, went through the packet they sent me, took that back to my attorney, reviewed it again, and called back with any questions. Once the process started, I waited for the appraisal and when the appraisal finished, I did the repairs that needed to be done on the house and before I knew it, it was done.

    The loan officer I had was the best. She took the time to listen to me, listened to my questions, and we would talk. Whatever I had to say, if she didn’t know, she researched it and got back to me. She went beyond trying to get a loan. She took her time and I appreciated that. Plus, I kept her updated and she kept me updated. We worked together on that. The rate could have been just a little bit lower, but it still was within reason, so I wasn’t too bad about that. And I selected the terms I wanted. I've already told a couple of people about Finance of America. I thought it was a good thing if their situation was right. For what I needed, it was the right thing to do.

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    Reviewed Dec. 3, 2018

    I've enjoyed doing business with Finance of America. I liked the rates and terms so I went with it. I called and talked to Toby, and he seemed like a real good gentleman. He was kind and generous about talking with me. He enjoyed talking with me and I enjoyed talking with him. The application process was pretty long but other than that, it's okay. Working with Finance of America made us feel a lot better and I would recommend them. Get ahold of Toby Beers and then everything would be all right.

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    Reviewed Dec. 2, 2018

    My wife has been ill and I got Finance of America Reverse as a fallback. I called them and spoke with a rep named Christian. He was nice and honest, and he did a wonderful job. There were a lot of different mess ups and he got it all straightened out. There was all kind of junk that Finance of America had to do then that I didn’t know about upfront and I had just straightened out several things that weren’t mine on my credit report, which I had never looked at ever. Other than that, the process was done and it got completed in less than a month. Christian and I made friends during the deal. He still calls me just to see how I'm doing, which is impressive.

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    Reviewed Dec. 2, 2018

    I had heard a lot about reverse mortgages and it seemed like it might be what I needed. I had a car wreck previously and it cost me a lot of $3,000 to get my car fixed. I thought it was crazy and decided I was gonna go ahead and do the reverse mortgage. I was told that the loan officer, Caroline, was very friendly and that she would keep in touch but she didn’t at the end. Once the loan was over and I got approved, she didn’t get in touch with me. And I wanted to because some more people were trying to make me take out a power fee on $189,000 to protect my interest in my house. What was the point of that though? I just got my money and I put it in the bank. Why would I wanna go and take another big loan to pay off something that I haven't started yet.

    So I called about that and when I finally got her, she told me not to worry. I also asked her why they were saying my loan is $189,000 when my house didn’t even go over $126,000 but I really didn’t get an answer because I don’t know yet why they do that or who did it to me. But aside from that, I was also supposed to get a welcome package. The process finished off in early September but I never got that welcome package unless it came under a different name. Caroline also said that I would be getting a monthly bill showing where I stood on the process and I never got that either. I haven’t gotten it on my e-mail either. And I want paper. I don’t want e-mail because I don’t check it that much. It's like they forgot me.

    Caroline was always very nice though. I had never done a reverse mortgage before and I was so nervous about it. But it wasn’t so bad because they came out to my house. I didn't have to get dressed up to go downtown. Plus there was no way I was driving in Houston so I was glad they came to my home. When I had a question, it took them a day or two to reach back out with an answer. There were a lot of papers for the application with Finance of America Reverse and filling them all took about an hour and a half.

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    StaffLoan Process

    Reviewed Dec. 1, 2018

    The person at Finance of America Reverse that handled my reverse mortgage did a good job. I kind of felt trusted with him and the process went fairly well. There were a few bumps here and there, but other than that, it wasn’t too bad. It took about three months and Finance of America was pretty good.

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    Reviewed Dec. 1, 2018

    I don’t have heirs that I need to take care of so much, so doing a reverse mortgage was a no-brainer. I could use some money and I don’t have to be concerned that I’m not leaving the full value of the house behind for someone. I got curious and looked into it online and I got bombarded with calls and emails. Ellen, of Finance of America Reverse was one of the reps that contacted me. I talked to her a bit and she was very knowledgeable about stuff. A few months later, after I had time to research and I was thinking about looking into it more, Ellen called and asked if I had thought about following up on it. She knew her business and she was a good choice. The application process went good, although so much of it was required by law to go through credit counseling. She made it as smooth as she could.

    I had refinanced my house several times because I started with a very high interest rate and, somewhere along the line, somebody dropped the ball on some of the paperwork and transferred me from one mortgage company to another. So, Finance of America Reverse had trouble with the title search and they had to keep going over and over with it, trying to figure out what happened during that stretch. The company was very good about it, although some people were pushy. It was explained to me thoroughly and Ellen really encouraged me to ask questions. She was very helpful as far as explaining things I didn’t understand. I told Ellen that one of the offers from another company was a little lower, so she talked to her boss and they matched the other companies. They bent over backwards.

    I felt very comfortable working with Ellen. She had a good sense of humor and it was very easygoing, same as the company that did the credit counseling. I felt at ease working with all those people. Whenever I would call for her the next morning I would say, “Hey, I just realized that this and that.” And she would explain to me how the growth rate worked. I also got a good estimate on the house as far as the appraisal goes. They lined it up and it went fast as well. They got right on it. The rates and the terms of the mortgage were as good as they could be. She knew that I liked things to move right along and she worked that it would quickly.

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    Reviewed Nov. 30, 2018

    Doing a reverse mortgage seemed to be the best way to go without having a monthly payment. Finance of America Reverse had a better loan package than AAG and they had a choice where AAG didn’t. AAG only had one program while Finance of America Reverse had three to choose from. I spent a lot of time checking reviews and everything I read for AAG was no communication and one can’t get ahold of anybody or nobody could give answers. On the other hand, everything I’d seen for FAR was awesome and they are indeed.

    The application process with FAR was relatively easy and it was all done over the phone. I did the application and underwriting 90 days way ahead of time, so I was ready to close on my birthday. They sent a notary out to have us sign the application and it was just the appraisals and stuff like that of a standard mortgage. However, the appraiser they sent out felt necessary to put a lot of personal observations in the appraisal, which probably cost us a couple three weeks. So, they could change their appraisers. Other than that, I worked with Jill and she was awesome. She was always giving me information, had answers to questions if I had any, and the communication was always there. FAR was very thorough in their guidance and working with them had a very positive impact in my life so far. We’re doing things now in our golden years we wouldn’t have been able to do.

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    Reviewed Nov. 30, 2018

    We were interested in a reverse mortgage, so I called some of the companies and then I had them reviewed by some experts in the field. Carol, the loan officer whom I was speaking to at Finance of America Reverse, was professional, and we went with them. Carol gave me good answers to my questions and we corresponded through text, email and phone. If she didn’t know the answers, she was very willing to find out what they were. She had a reverse mortgage herself and she was willing to give me the information that I wanted. Any of the information that was asked of me was appropriate and I felt comfortable talking to her. There were other reps that I talked to from different companies that I certainly felt very uncomfortable, and no matter what kind of a deal they offered, I wouldn’t work with them.

    I was sort of alarmed, however, that when we were filling out the papers during the application process with Finance of America Reverse, they had a form in there that said we could leave our rights to know what the appraisal was on our house. I think everybody should have that appraisal info, and there should never be a form giving away your rights to see that.

    The first time we signed the papers, there was a question that couldn’t be answered by the lady notary. It had to be answered by Carol’s boss, or someone else that she was supposed to have had access to but didn’t. She had been given two telephone numbers to call and was told that they would available, and neither one of them were. That notary was extremely good though and we even requested her to do the next time but she was not available as she was on vacation.

    The second notary to do the final papers lives in Sacramento, and that lady was not quite sure if she could figure out how to get to Folsom. She had an attitude and I had no confidence in her at all. I felt very uncomfortable in talking to her. Then we were very thankful that we got the notary we finally got because she knew what she was doing. The process was done in an acceptable length of time and going through the papers, she knew what the answers were.

    The guidance I received while working with Finance of America Reverse was fine until Carol went on vacation, and I was very disappointed that she and her boss went on vacation at the same time. All the papers were sent back to New York, to some place on the East Coast and the application and underwriting process was sorta dropped. We should have had the process completed a week or two in advance of what we did, but it was like nothing could happen without Carol and her boss. Carol even gave me her cellphone number and I called, telling her the problems we were having, but she never responded. The situation left us with no recourse and it was unacceptable. When the A-team was working, it went well. But when they went on vacation, everything fell apart with the notary and with Carol’s replacement. That situation gave us nightmares.

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    Reviewed Nov. 29, 2018

    After considering everything else that I looked at, Finance of America Reverse looked like they were offering the package that fitted us the best. The representative that I dealt with was really what sold me on them. She was very good and took all of the time in the world and explained everything to where I could understand things easily. The whole process took months as we were doing some other things and we weren't gonna be there. We also had some delays with Finance of America Reverse coming in to give us an appraisal on the house. The rates and terms that we got were good and very comparable to everyone else's. We hope that as we go forward, it works out well with Finance of America.

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    Reviewed Nov. 29, 2018

    I looked into moving into some type of retirement community because I'm not in great health, but it was very expensive and I couldn't afford it, so not having that as an option then, I was more or less stuck in my house. And realizing that I was going to be living here for the rest of my life, I had a sudden loss of income and I had to find another source of revenue. I went to LendingTree, to begin with, and I collected different proposals.

    I had about four or five other proposals and I followed up on them all. I looked at their tables and compared them in terms of what rates they offered and what their closing costs were, and most of them offered a margin over the LIBOR. So, I looked for one with a good margin. A fixed-term loan was out of the question for me because I didn't require immediate funds. I wanted to be able to have an income in a case when I will need to draw. I felt that a line of credit would serve me better. I compared all the factors you would look at with an ARM and Finance of America Reverse was the best.

    I worked with the agent, Linda, who made things a lot easier for me because I'm not able to usually get up and go to the office. She was fantastic and she answered questions on weekends, which I didn't expect. She went out of her way throughout the loan process. She also made things very straightforward and I liked her explanations. They were very clear. She will continue to be my loan officer and that was a big factor for me. My experience with Finance of America was great and they were all flexible around what I needed.

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    Reviewed Nov. 28, 2018

    William ** was the person we worked with and he did an excellent job. He wasn’t pushy or intrusive but he did manage to keep the process moving along quite well. We started in August and ended in November 2018, which I found to be timely but not rushed. William was good at explaining where we were at each point in the process and was quick to respond to questions. There were no unpleasant surprises for which we give William full credit.

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    Reviewed Nov. 28, 2018

    Having the house we paid for, it occurred to me that we were sitting on our money and it's not doing us any good. The logical thing to do was get a reverse mortgage. I shopped around and Finance of America Reverse had a price deal for money. Ernie, the rep, did what he could to get the account and he was a good guy who was very professional. He knew what he was doing and he followed up on everything, but the process was too long. There were a few hiccups about my trust in getting attorneys involved, which was overkill and the guidance might be difficult for somebody who never bought a house, but I've bought several properties and it was nothing new for me. It was a waste of time. However, Finance of America Reverse did all they could. All in all, anybody in my situation should do the same thing.

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    Reviewed Nov. 28, 2018

    My finances had taken a hit and so I had to do something. A reverse mortgage seemed like the only thing I could do. Finance of America's reputation appealed to me. I thought they were a quality company and I was glad to do business with them. They did a credit check, they did a survey type thing with the company, and then they came out, and the notary public came out and got the papers going. the guy walked through the appraisal and I qualified for as much money as I wanted. There was a minimum of things to fix and they were working with me on that so that was good. I'm happy with the rate of the mortgage. The application and underwriting process took about two months ‘cause I tried some other companies. They worked very fast. Robert treated me great. He was nice, polite, and informative. I felt comfortable working with him. The other guy, Joseph, was almost as good.

    Since having the reverse mortgage, I got to pay off all my credit cards. I don’t have a big income per month, but I only have 400 going out, so the rest was free for me to spend how I want or save. It has given me a lot of wiggle room. Plus I have the money in the bank, and we can get some of the repairs done around the house that we couldn’t afford before, which is nice.

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    Reviewed Nov. 27, 2018

    Finance of America Reverse explained and discussed everything with us. The process was quick and any time you talk about that much money in your home, it's going to be a little uncomfortable, but the lady was nice and I was comfortable. She was very easy to talk to and she wasn't pushy. She answered all our questions and she was good.

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    Reviewed Nov. 27, 2018

    Finance of America Reverse called me on the phone from the random pick-up spam. I like that getting a reverse mortgage is not having a payment and happiness in a retirement. The whole application and underwriting process was easy and went about eight weeks. The loan officer was nice, and I thought that he really kept us going. Any questions that we needed, he was there attending to us. Finance of America is not for everybody, but as far as me, it was for us. It just depends if you got kids or if you don’t or if you just wanna have an easier retirement. And it worked for us.

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    StaffLoan Process

    Reviewed Nov. 26, 2018

    I got interested in reverse mortgage for elder care and it seemed like Finance of America Reverse was primarily focused around the reverse mortgage. However, the process was fairly difficult because of the documentation that was required. I have a mother with dementia so the documentation around the mom’s medical care, power-of-attorneys, a lot of stuff turned out to be quite a challenge and the took between 30 and 60 days. I also thought the upfront fees were pretty expensive to get started. But the representative that I dealt with was great and I felt like he was responsive. Everything I asked him about, he did a good job walking me through everything, letting me know what was gonna be next. Working with Finance of America has been good. It was the saving grace for a couple of parents that had a lot of health care and no means to access funds. I would recommend them.

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    Reviewed Nov. 25, 2018

    We went with another company but the service was not the caliber that we wanted, so I went to the second one on the list. I went online and came across Finance of America Reverse. Andrew, my loan officer, was the perfect representative for them and he helped us immensely. I was impressed by his knowledge and personal commitment to us. I wasn't his only client but we didn't have any problems with communications. If I had a question for him and didn't get him, he would call me right back. We were guided through the step-by-step procedure and it was even flow. They let us know what we needed, what was going on, and what we were signing. That was very informative.

    The application process was what I expected. I knew that it was not gonna be an overnight deal and we would be dealing a lot with them. The previous company that we were working with was reluctant to provide the information that we needed because I needed to sign a letter of commitment. They said they could give us a better deal but I didn't get that deal at the beginning like what we got at Finance of America Reverse. Andrew told us what happened, and it happened. Also, we were retired military and Andrew was military which gave us that common link with our communications. That was very comforting to know. We got our first payment already and we did what we planned on doing with the money, so everything is great.

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    Reviewed Nov. 24, 2018

    I’m a realtor and I’ve been looking into reverse mortgage and options as an alternative to selling a large home that we ended up with. We needed our large home and we like it so we thought a reverse mortgage might be a good option. We considered it a year ago and decided we didn’t particularly like the head-on cost, upfront cost, and the loan placement. Then in the summer, we decided to take another look at it. Through internet research, I found Finance of America. From the website, I like the way they did business. So, I contacted them and the agent that I worked with was my kind of guy, in the sense that he didn’t try to sell us anything. He simply answered questions and helped us along the way. Eventually, we’ve gone on to tell him that we should do it.

    The enrollment process went fine. However, we had to go through online counseling even though we have gone through it before which was our fault. Still, because of my background and experience in real estate, that made it easier. So far, going with Finance of America accomplished the goal we had. However, I would tell friends that it’s not for everyone and that they have to understand both the benefits and the risks involved. It needs to fit the circumstances of each individual homeowner. Also, if a reverse mortgage would fit it, then it’s a great deal for them to pay. If people don't understand it and they use it the wrong way, it may not be good for them. Under the right circumstances, it’s the ideal solution. It worked out for us and I'll be referring the agent we worked with as a resource to other seniors who are house switching.

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    Customer ServiceStaffLoan Process

    Reviewed Nov. 24, 2018

    The economy has led me to decide on a reverse mortgage and I was told that Finance of America Reverse was non-profit. The loan officer, Linda, was great. She was very efficient, considerate, open to any questions with good answers and was clear. I was very comfortable working with her and the guidance I received was very professional. However, the application process was awful and it was too long. I'm also extremely unhappy with their customer service and I'm mad at them. They were inefficient, they were not there and they didn't know their own rules. They made getting my own money out of it a horrible experience.

    I wish that when you fax in a request, you would get the return info that day, and if it was received on a weekend or after 5:00 their time, the next day would be really good. They don't verify that they've got your fax. If you call in, it's not the right department ever! They have to take it down and they’re reluctant to tell you. Even if they say it didn't come in, it has come in. If you double it up because it hasn’t come in, they will raise money twice, even though you’ve spoken to them and told them only once. I'd love for them to know how disgusted I am with their process of giving out our own money! It's my money and they treat me like I'm requesting a new loan every time. It's horrid.

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    Reviewed Nov. 23, 2018

    Finance of America Reverse had some good recommendations. However, obtaining the mortgage was very difficult. They required so much and every time I gave more information, it wasn't enough. I almost didn't do it at the very end, and then they finally approved it. The application process was okay, but once I got into it, it took about three months which was a lot longer than I thought. They need better communication in knowing upfront all the requests. Still, it all worked out. The rep and I had to have a lot of communication, so if I didn't hear from him, he'd call me right back.

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    Reviewed Nov. 23, 2018

    We were interested in getting a reverse mortgage for financial means and we chose Finance of America due to the salesman. He was business-like and he carried himself well. Unfortunately, it turned out that some of the things he told me initially were not true. He said that they were the source of financing for AAG. But he lied very well. The process took me months. It was a very long time but that was not the company’s fault. I had an accident and broke my back, and I was in the hospital for about three months. Despite that, they kept the process open until I got out of the hospital. The terms were competitive and the reverse mortgage gave us immediate cash.

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    Reviewed Nov. 22, 2018

    Our income had diminished so we decided to do a reverse mortgage. We had some expenses that we had not planned on and we needed to do it. Finance of America Reverse offered us more money. Brent, the fellow that we dealt with, was wonderful. He was always available, patient and very nice, and he made the process easy for us. He knew his business and he didn't mind repeating things if I forgot it five days later.

    We had started with another company and we switched. So, the application process with Finance of America was easy because so much of the paperwork had already been done. The whole process took about two and a half weeks. We had expenses that we couldn't meet and it's just easier now. The loan process has always been not a pleasant experience to me considering what we having to do, but the end result was worth it. If others are convinced that they need to do a reverse mortgage, I would definitely recommend Finance of America, Brent in particular. To me, he is Finance of America.

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    Reviewed Nov. 21, 2018

    Finance of America was the most patient when we had questions about the reverse mortgage. We didn't expect their rates to be high but because of the timeline, that was the fastest route we could go. Everything was predicated on our timing on getting the documents going, and then the rep did a wonderful job in coordinating the appraiser and everything else along the way.

    My mom needed to get some in-home care instead of relocating to a care home and to get the house spruced up aesthetically for her well-being. The Finance of America rep figuratively held our hands through the process and assured us that we would have options at the end of her life. We could pay off the loan and if we were to sell it, the survivors would be able to get whatever is left from the sale amount and the loan balance. Finance of America is very helpful and understanding, and I will recommend them.

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    Customer ServiceStaffLoan Process

    Reviewed Nov. 21, 2018

    My mother got behind on her bills and she was trying to get all her bills caught up. Finance of America Reverse contacted us first and the process of obtaining the mortgage with them was easy. The whole application and underwriting process took about a month, and we were told that FAR was gonna give my mother the whole amount at one time. When we received the partial payment, I called them and they said it was supposed to be split up in two payments, and she wouldn't get the other one for at least nine months.

    The rep Cody said that when he first explained that to us, he told us that it was gonna be split up, but I don't remember him saying anything about that. He kept in touch with me and tried to get the loan approved as soon as possible, but it was back and forth sometimes. I felt comfortable with him, which was why I couldn't believe it when I found out the payment was gonna be split up. He helped us very well, though I wish they had informed us that it was gonna be split up because if we had known, we would have gone with somebody else.

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    Reviewed Nov. 20, 2018

    I had this inheritance. I have my home and my parent’s home. I thought that the place really feels like home and I wanna stay there. I don’t make that much money and I just wanted to make sure that it can be sustained or I’d sell it. I also had some old cash liability from 10 years before. I was 90% down the road with the first company I talked to, but they made false statements about my situation with the tax people. I almost thought the whole process was a scam. They were terrible. Then I started looking at the reviews, which I should’ve done, to begin with, and Finance of America had good reviews. I talked to Scott and I liked him immediately. He was personable and did a good job. He also always got back to me promptly. I enjoyed working with him and felt I had someone that really cared about my situation.

    There were a few things that needed to be improved, but, overall, Finance of America Reverse was 100% better than their competitors. Finance of America was paying off some taxes for me with cashier’s checks, but they didn’t make a copy of those. It took a lot of work with the tax agencies in California to make sure they obtained a copy. I had the date that the check was sent out and they spent several hours trying to track the checks down.

    Finance of America was also not forthcoming at the beginning with the documents. Originally, they said they'd need the last 90 days of my checking stamps, which was fine. My bank gave me that and I gave it to them. But then they continually asked for more and more instead of asking for all of it at once. It was very time-consuming going back and forth. Eight hours of the process was a complete waste and unnecessary. If I dealt with a lesser person than Scott, it would’ve been a mediocre experience.

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    Reviewed Nov. 19, 2018

    I'm a real estate agent and the process with Finance of America Reverse worked out to be a lot less difficult. Josh, the guy who started helping me, was a really great guy. He answered all the questions and got everything on. Whenever I called, he answered well. The process took a long time but I had been working on a reverse mortgage for over three years. I was patient. The rules seemed to change as we went along over the time frame. One thing I was impressed with the guy actually selling the product out in Philadelphia was that he did a great job. He said that he wanted to get everything all lined up and when he was ready, he was ready. Besides, the jumbo came out and that made a whole big difference.

    The only complaint I have was that the appraisal didn't go as well as we hoped for. But Finance of America Reverse has no control for that. We could've disputed it but I never really heard back from them on the possibility of that. On the other hand, the interest rate is 6.99% and compared to 4% or my mortgage interest rate before, it's a little steep. But the reverse mortgage is a way to get a lot of equity without having to sell my house, which I didn't want to do. It also gave me some spending money and took away my negative mortgage payments. It impacted my life considerably and I've recommended the company. Keep up the good work, Finance of America Reverse.

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    Reviewed Nov. 19, 2018

    Finance of America Reverse was very knowledgeable in helping me out in understanding everything. I had to go to six hours of counsel to make sure that I understood everything about the reverse mortgage, which was good. The rep went through it with me all and made me understand everything, and he was very nice. Everything moved right along very well and it took only a couple of weeks. They did a wonderful job. I like the company. If someone was doing the same thing, I would refer him to Finance of America Reverse.

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    Reviewed Nov. 18, 2018

    Finance of America Reverse was the best deal among lending providers that came across. They were very good and they were patient with me. The rep kept right on me and gave me everything I possibly could get. I felt very comfortable working with her. When I have a question, someone would get back to me on the same or the next day and their level of expertise is very good. The rates are good but I don’t like to be paying the insurance debt much more money out. I would like to see the insurance taken off of my plan.

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    Reviewed Nov. 17, 2018

    I'd gotten into a jam with my finances and different things stopped happening to set me back, so I looked into a reverse mortgage. Finance of America Reverse was the first one that I called, and then I called a few others but they were about equal in what I could gain. The reps were very helpful. I didn't know anything about it and they explained it all to me. Working with them has helped me out quite well. I'm happy with what I dealt with.

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    StaffLoan Process

    Reviewed Nov. 16, 2018

    Working with Finance of America Reverse has made things easier for us financially. We did a reverse mortgage to eliminate our mortgage and went with them after doing some research on the internet, getting estimates and talking with a number of individuals. I was impressed with Bunny. She was very helpful. The process took about three weeks and everything went smoothly. And though you always think that they could be better, the rate and the terms that we got were fair.

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    Reviewed Nov. 15, 2018

    Go with Finance of America Reverse. They're very helpful and they get you what you need. I worked with Jill and she was the most helpful person. My experience with her was so pleasant and I really enjoyed it. During the process, some guy had to come out and he checked out the house. Then he wrote up a report and sent pictures. Getting a reverse mortgage with Finance of America worked out terrifically for me. Right now, I have a guy who's working on the repairs that that inspector said needed to be done. So I'm still in contact with the Finance of America and it's still a good experience.

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    Reviewed Nov. 14, 2018

    I took out a reverse mortgage as I needed major repairs on my home, and I decided on Finance of America Reverse seeing that they have very good reviews. I called in and went through the process, which took several months. I had a very good experience dealing with my rep and the terms that I received were very good as well. And now, I have a repaired home.

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    Reviewed Nov. 14, 2018

    I liked the way that Finance of America Reverse handled their business and the rep I worked with was very good, courteous and knowledgeable. She was very easy to deal with and seemed to be genuinely interested in the situation. I was happy with the rate so I went ahead and took the mortgage.

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    Reviewed Nov. 13, 2018

    I have been struggling and unable to work very much, so I decided to get a reverse mortgage. The young lady at Finance of America Reverse contacted me and explained their lending process to me. She was very fine and very competent. I also asked her if she could speak to my daughter about it because I have heard such bad things about reverse mortgages, so she explained everything to her as well. My daughter is a tax accountant, so I felt confident in my daughter's opinion. She said she thought it was a good idea and it progressed from there. Things went very well and that rep was very patient with me. It was a bad time for me and she was very kind. We started in July and we finished up in September. The rate and terms of the mortgage sounded good to me, too.

    Working with Finance of America has taken a burden off my shoulders as far as having a little extra money sitting in the background for me and I don't have to worry. And the other thing that has been awesome about it is they paid my property taxes and my homeowner's insurance. I was paying that out of my Social Security check every month and it was killing me. All in all, it was a good experience. I had to go that route and it was really a breakthrough for me.

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    Reviewed Nov. 12, 2018

    I looked into getting a reverse mortgage a couple of years ago, but I didn’t like what they told me, so I stopped it. I had some past bills and credit cards I wanted to clear up so I tried again, and this time, I got it. Finance of America Reverse was very helpful. Their rep did me a big service, because if I had passed away and the way it was in my courthouse, my children would have not been able to sell my property. They went to all kinds of meetings, attorneys, and they fixed it. Also, I had a problem with my Social Security which had to do with income. I had two years prior, and the loan officers weren’t going to give it to me. The gentleman that was assigned to mine fought and fought and got that out of there. He was so good and patient. Anybody else would’ve dropped it.

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    Reviewed Nov. 12, 2018

    I had a lot of equity in the property. Getting older, I was thinking about retiring within the next three to five years and it would be nice not to have house payments. I was searching for reverse mortgages and all the lending companies seemed to have very similar programs. While the interest rate is high, there's a presumption that certain properties will appreciate around 4% to 5% a year. So, looking on through the course of the years, it's almost a negative amortization but not as bad as it might be because when you're making house payments and you get sick, it becomes more difficult to make those house payments so that you're in jeopardy of losing your property.

    With a reverse mortgage, you have the security of knowing that you won't lose your property if you become ill. So, there's a certain peace of mind that you get when you only have to pay the taxes, the insurance, and HOA fees, which is about half of what the house payment would be if you had principal with interests. So, it makes life a little more comfortable. Among the companies I looked at, Finance of America Reverse had a lower threshold for giving you a reverse mortgage while most of the others wanted a higher equity balance. Finance of America was more easily attainable, so I went with them and the application and underwriting process took about 120 days.

    I needed some guidance in the process and the rep I worked with was rather helpful in showing me what the government was looking for so that I could provide it. It was like qualifying for a mortgage but in reverse. It was a different mindset and people are more leaning towards qualifying for a mortgage rather than for getting the equity of their property. Also, I understand now why the credit qualification was extended because a lot of people who were getting reverse mortgages could barely keep up with the insurance or the taxes and were going into foreclosure. So, apparently, the government decided to go and have people qualify for the other aspects of the credit history so that people could be assured that when they went into the program, they wouldn't lose their house to foreclosure.

    Other than that, Finance of America gave me a fairly steep interest rate of 7%. But they're taking a gamble that even if you qualify for the credit then you won't be able to make the taxes, insurance, and the HOA fees, they wanna ensure that you are aware of it and would be able to take care of it. Because interest rates are sometimes what they need to protect themselves against bad loans. Some of these loans could go bad, although reverse mortgages have a higher success rate than what would normally be with a regular conventional loan. Overall, the experience with Finance of America has been very positive.

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    Reviewed Nov. 11, 2018

    I looked around and Finance of America Reverse was the best. The process went well. I'm retired, though I was in the business for a while so I knew that it would take as long as it'd go, and it met my expectations. The rep was very knowledgeable and I was happy with the rate. I've already recommended them.

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    Reviewed Nov. 10, 2018

    Finance of America Reverse was first in line when I looked online for lending providers and I thought maybe I couldn’t screw up if I went with the people that were first on my computer. Their application process was simple and my loan officer was easy to get along with. The only thing that somewhat upset me, and we tried to go over it, was the fact that although we have a credit score of 824 and basically no debt, there could have been a little more cash-out. Still, I’d recommend Finance of America Reverse. In fact, I have recommended them.

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    Reviewed Nov. 9, 2018

    In Massachusetts, you have to meet with a HUD advisor before you can go through with the mortgage. Then, the application and underwriting process with Finance of America Reverse took two months. We had a very good interaction with the rep, Matt. He was able to answer a lot of our questions and the ease of dealing with him impressed me. Finance of America Reverse had a good reputation and they had better rates and terms. Working with them took a lot of pressure because we had a couple of home equity loans and now, we don’t have that. It was a very good experience and we were very pleased.

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    Reviewed Nov. 8, 2018

    My investment is running on social security and I want to supplement my income with a reverse mortgage. I looked into three companies for this and I liked Finance of America Reverse’s presentation. There was an awful lot of papers I had to sign during the application process. They gave me a timeline on how long the process was supposed to take and it was done in less time than they said. I like the loan officer. He was informative and went over everything very well with me. I’m very satisfied with them.

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    Reviewed Nov. 7, 2018

    I liked the Finance of America Reverse agent I talked to. Carolyn was pretty knowledgeable and very, very helpful. She explained things and was very patient. She talked to me for a long time on the phone and understood everything. The application process was very long-winded, but it’s part of what you gotta do. Also, their rate and terms are in line with other people. Working with Finance of America Reverse relieved the stress and I would recommend them.

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    Reviewed Nov. 6, 2018

    I wanted to do some work on my house and Finance of America Reverse seemed to be the best lender. I started dealing with Rocky and he convinced me to go with them. He got everything started for me and more than anything else, he was a lot of help, but he's no longer with the company. Another guy finished up and he was good too. All of my concerns were taken care of and the process wasn't very long. I started before my divorce got through and the only holdup was waiting for my divorce to be completed. I was very happy with everything and the loan helped a lot. I've been able to do a lot of things to the house I couldn't have done without it.

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    Reviewed Nov. 6, 2018

    A reverse mortgage would give me more resources to be able to better enjoy my retirement. I got one from Finance of America Reverse and I liked the gentleman who called me, Taylor. He was very frank with me and we built a good bond of trust. He was a great guy, so I decided to go with their company. I figured the company that hired him should be the best.

    When we talked, I enjoyed everything that Taylor was saying. I was writing everything down and as we went along, I agreed. I told him I'd think about it for about a week or so, then my wife and I talked about it and we agreed that it would be in our benefit. We got the paperwork going and everything that he had mentioned happened. I was interviewed by some person that was working for HUD to make sure that I knew what I was getting into, and I did, so they sent a person down here a couple of times. One of them was to fill out the application and the other one was to close it out. He was very good and very reputable.

    All that time, Taylor was telling me what to expect and sure enough, it was happening. So, I had a lot of confidence and a lot of trust with them. Also, everything came out the way that they said that it was gonna come out. The last time I talked to Taylor, I thanked him a whole bunch and invited him to come visit me if he's ever down here close to Austin, Texas. We turned out to be good friends.

    Other than that, the rate and terms of the mortgage was as good as I coulda got with anybody else. Plus, the process took a couple of months and it was all done. So it was fast enough and I was kept in the loop about what all was happening. I would tell a friend that if he's thinking about a reverse mortgage, he needs to check with Finance of America first. And if he wants to check with others, I would tell him to go right ahead but I don't think that he'll find one that's any better than Finance of America.

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    StaffLoan ProcessRates

    Reviewed Nov. 5, 2018

    The whole process with Finance of America Reverse was better than I could have expected and I was very surprised that it all went so good. It was just a notary each time. However, Finance of America hired an agency to explain the process. I had a problem with the notary on the day that it occurred and I tried to accommodate the notary by changing the time. Unfortunately, I was not able to get a hold of my aunt in time and we ended up going back to the original time. The notary was quite rushed, but I conveyed that information to Nicole, the loan officer, and she gave me the information. The closing notary was terrific and Nicole made sure that she would not be there for the closing.

    I sat down with Nicole each part of the process. She was outstanding, very professional and honorable. I was very appreciative of her help. She did everything that she said she would do. She rectified any little glitches in short order and made it run really smooth. She even did better to the time duration she said. The rates kept constant and everything was always positive. I’ve told various people that Finance of America did a great job. In fact, we went to a debt counseling and I passed on to them a recommendation. Nicole was very happy to get a good recommendation from nondescript people.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Nov. 4, 2018

    I used Finance of America Reverse and I had a fine experience with them. They had the best deal in terms of rate. The application process took 10 days, which was lengthy, but their people were knowledgeable and kept me informed. If I had concerns, they would usually get back to me within the day. I also talked to my loan officer so much. She was very helpful and she helped with any problems that were there. She answered all my questions and she made me feel very comfortable. It was terrific.

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    Staff

    Reviewed Nov. 4, 2018

    Finance of America Reverse doesn't give you any pressure that you have to do it right away. And they’re very nice. They answered all of my questions and were very patient with me. Everything was easy and John, the agent that I dealt with, was very accommodating and knowledgeable. I was very comfortable working with him. The only thing that I questioned was the MIP insurance in advance. If we’re paying it monthly, why do we have to give a bulk? I was in the real estate business for over 50 years. I’m a real estate appraiser and we’ve had many FHA deals with MIP but we never did that. But John was telling me that they do it now. It's something new with the reverse mortgages. But that's not his fault or the company's problem. I’ve even recommended Finance of America to a couple of friends.

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    Customer ServiceStaff

    Reviewed Nov. 3, 2018

    I needed some money for some repairs and in case something happened. I went to reverse mortgage ‘cause I don’t have anyone except my son so I didn’t have anyone to leave the property to. I was with AAG and I couldn't get a response from them. I left messages after messages and when I called, they never answered. I would always get a voicemail and they wouldn’t return my calls. I get offended with that. I kept calling ‘till Michigan, who was with AAG, gave me the number of Finance of America Reverse. I called in and started dealing with Taylor. He was very nice. He answered his phone, and if he didn't get to me right then and I leave a voicemail, he’d get back with me.Overall, the application process at Finance was okay.

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    Customer ServiceStaffLoan Process

    Reviewed Nov. 1, 2018

    Our FAR Reverse Mortgage experience was "29 days start to funding". Our Loan Officer was and remains Diana ** and she is FANTASTIC. Our Processor was Lauren ** who never missed a beat. Good people. I had started my reverse mortgage search with the largest and best known RM lender earlier in the year and that experience took five months and ended in complete frustration and with no loan. FAR seems to emphasize customer service more than the other companies that I spoke with, and as for Diana ** - everything she said that they would or could do, they did. I was initially a little hesitant because I wanted to work with a company here in California and the FAR HQ is in Oklahoma with Diana's office in Indiana - that was no problem. I recommend FAR.

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    StaffLoan ProcessRates

    Reviewed Nov. 1, 2018

    Getting the mortgage from Finance of America Reverse was very simple. I talked to their rep and then we went through what I owed, how much I wanted, and how would I have to pay it if at all repayable. In the old reverse mortgage, once you got a mortgage, you got a check every month and you didn't have to pay that off. But this new one is different and I have a line of credit. The application and underwriting process took about two and a half months and the lending process could've been shorter. There were also a couple of problems with a couple of items that I had, but other than that, it was okay. The loan officer explained everything and it felt like he was more on my part rather than the company’s because he understood my situation as compared to other situations. The rates also looked pretty good as compared to other mortgage companies that I looked into that I was not satisfied with. Finance of America Reverse made life easier.

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    StaffLoan ProcessRates

    Reviewed Oct. 31, 2018

    I needed money so I got a reverse mortgage with Finance of America. It seemed like a better way than getting a mortgage. The first year the rate was fine, but the next year was just asinine. I couldn’t believe that it showed that much interest on the second year. The process also took forever. It took about three months and they could have improved on getting it quicker than this. They would want this and then come back and want that. But the rep I dealt with tried to do everything he could. Other than the long wait, everything was fine.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 30, 2018

    I'm retiring and I had about six more years left on my mortgage. I had a very large mortgage and I couldn’t afford it anymore, so I had to do a reverse. I checked everybody and I liked what people said about Finance of America Reverse. Obtaining the mortgage went very smoothly. The loan officer’s name is Jenny and she was very helpful with everything. I had a lot of questions and I'd call her, and she was always available for me. The process took two months which could have been quicker, but everything was fine and I was very pleased with what happened.

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    Rates

    Reviewed Oct. 30, 2018

    It looked like other people were pushing me into the reverse mortgage and I didn’t want to go with them. On the other hand, the guys at Finance of America Reverse were calm about things. They told me what I was gonna get on the first draw and the application process was easy. The loan I got was the only one with the best interest rate and it got us out of our debt on credit cards.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 29, 2018

    Getting a reverse mortgage with Finance of America Reverse took about three weeks. The application process was tedious and drawn out but all the information that they needed was essential and it worked. The loan officer also called me repeatedly and kept me up on what was going on so he was very good. The only thing that I disagreed with was paying my taxes and my insurance out of the money. They kept money out of the loan to pay those and I'm not paying them. Nonetheless, I don’t think I could have worked with a better company. In fact, I would recommend them. It was a good experience and we were able to get things done in the house that I couldn't have gotten done without the reverse mortgage.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 28, 2018

    The application process at Finance of America Reverse was relatively easy. Although, it took us a month because they had some questions cause we'd only been in the house less than a year, so we had some things that we kept having to write letters about. But the process was good and so were the rates. In addition, our loan officer was very helpful. Her name is Marina and I never had any problems reaching her. If I didn’t reach her right away, she was always quick to call me back. All in all, working with FAR made a big difference for us. We did it mainly because we owed the federal government some money and we thought that it was our best option in paying them off. It's a huge relief getting that taken care of. I wouldn't have any trouble recommending FAR to somebody.

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    StaffLoan ProcessRates

    Reviewed Oct. 28, 2018

    My baby brother suggested Finance of America Reverse. He's been in the finance business for years and has done extremely well for himself. So we went with Finance of America and we're very happy. They offered a more secure environment than what we're in now. The process was not stressful. But we're in the 80’s and they gave up information that wasn’t readily available. In that respect, it was time-consuming, but they answered all our questions and were very helpful in every respect. We won a prize for being the fastest. The rep sent us a card with a big first prize trophy on the card.

    Jamie impressed me so much as that she is almost like family. We send each other birthday cards, and take pictures of our dogs, family gatherings and send them to email and stuff. She was very informative, very readily available any time of the day or night if we had any questions or any concerns. The rates and terms were also exactly what we were told they would be so there was no surprise and we were very pleased. We're extremely pleased with the whole transaction, the expediency of it being handled and the no big surprises at any turn or corner. We were totally informed of what would be coming up, who would be calling us and when, and everything was more than I could have hoped for.

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    StaffLoan Process

    Reviewed Oct. 27, 2018

    I talked to agents from several companies and the one from Finance of America Reverse was the best. He was the reason why I chose Finance of America. He was very straightforward and honest. He didn’t try and persuade me to go with him by using what I consider to be unethical practices, psychological and fear, and a lot of things I did not like in other agents I spoke with. He made it clear that I was eligible and he would guide me through the process which he did. The application process was easy because I had help and the loan was closed quickly. Finance of America helped me greatly by lending me money that I needed.

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    Loan Process

    Reviewed Oct. 26, 2018

    My children wanted me to do a reverse mortgage. My daughter and I were gonna go to another place but we changed our minds and went with Finance of America Reverse. Their process involved so many forms and I had to fill out all the papers. Also, all the times that I had to get my papers out, they were put away. Other than that, the terms they gave me were fair and my experience with the woman I spent most of the time with was fine. All in all, my experience was all right but going through First American takes a lot longer and is a little more complicated than people might think.

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    Customer ServiceStaffLoan ProcessRates

    Reviewed Oct. 25, 2018

    We have a lot of equity in the house and we did not want to sell the home. Getting a reverse mortgage seemed like the logical thing to do. I saw an ad on Facebook and I filled out some very simple questions. Then I received a phone call and I liked the person that I talked to. Barbara seemed very knowledgeable so we were very happy working with her. She was also very patient. When we first got into it, we weren't sure. We didn't know if we were gonna do a reverse mortgage or if we were going to possibly get a second mortgage. And she just waited. She would call occasionally and when I would tell her we haven't decided yet, she would say, "That's okay, no problem." It was no pressure.

    Barbara was also extremely forthright. She explained everything clearly and answered any questions that I had. I felt like I was totally informed. We also had a chance to think through everything, every step of the way. There was no pressure and no rushing. We took our time. We really investigated all options and talked to our financial advisor at Merrill Lynch, then we decided to go ahead with this. I was totally comfortable working with Finance of America Reverse and the process was very easy and quick. Barbara was extremely efficient, did a good job and made it easy for us. She was wonderful. I also kept our financial advisor informed on everything that we were doing and he was so impressed with the way that Barbara handled our account that he took her name and he's going to refer other clients of his to her.

    The rate was also about as good as you could get at that particular time and we got a pretty good amount out. Considering the value of the house, I would've wished that we had gotten more but I understand that they have to keep a great percentage there, hoping that they won't ever have to pay all the way down. It was fair and the charges were fair as well.

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    StaffLoan ProcessRates

    Reviewed Oct. 25, 2018

    I had to get rid of house payment and my reverse mortgage process with Finance of America Reverse went fairly well. My loan officer, Ray, worked with me really well and was extremely friendly. But there were a couple of things that could have been done a little bit better. We had a heck of a time getting the information that they needed to them. I think it was more or less lack of information on their part. For instance, whenever they wanted the bank statement, I did all that but then they came back and said they needed the whole thing, including the cut receipts. So then I had to go to the bank and get a printout of all that because they couldn't do the cut receipt on my computer at home.

    Then when the closing day came, I had a cashier’s check to pay everything. I made it out to Finance of America but it was supposed to have been made out to something like Boston Mortgage. Ray never told me who to make the check out to and I didn't think to ask him either. So we had to go back to the bank and get another one. But other than that, it went smoothly. It was about four weeks from start to finish, which is about the normal time to get everything done. The rate I got is probably the best there is too.

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    Reviewed Oct. 24, 2018

    My mother was 92 and she couldn't really afford to keep making her payments. I made a phone call to Finance of America Reverse and they called us back. Then we did the reverse mortgage via phone and email in the span of 30 days. They were pleasant and Andrew, in particular, was very knowledgeable. One of the notary who came out to me could have been a little bit more knowledgeable though. They couldn't really answer my questions and I had to keep calling back to the finance place. But working with Finance of America Reverse has been good for my mother. She doesn't have a payment anymore and I would recommend others to go with Finance of America Reverse as well.

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    Customer ServiceStaffLoan Process

    Reviewed Oct. 23, 2018

    I wanted some money and considered on a reverse mortgage. We shopped around some companies and I liked Finance of America Reverse the best. They seemed to be more interested, gave us a lot of attention and were very good. We had to have a person come in and explain everything to us. And then we had to sign a whole bunch of papers, which was tedious, but it was okay. We didn’t have to do too much and everything was pretty much done over the phone. The application and underwriting process took three to four weeks. But something came up in the middle of that and it was my fault. But it was no big deal. It was just some money to have in reserve, in case, for things that come up.

    When we first went into a reverse mortgage without any knowledge, I was thinking the return would be a little higher. The closing costs were a little exorbitant for what they had to do. But it is what it is. The people at Finance of America Reverse were very good at communicating with me and I was impressed with that. The rep we worked with was friendly and accommodating. They had one girl who would call and ask about everything and if we needed anything. It was very nice. Also, there were all kinds of shifting from one department to another. But they listened and I was okay with that.

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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.fareverse.com