American Advisors Group Reverse Mortgage Review
36 Customer Comments & Reviews - see all comments
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American Advisors Group is a leading provider of Federal Housing Administration (FHA) - backed reverse mortgages. Based in California and founded in 2004, AAG offers a full range of reverse mortgage products including traditional Home Equity Conversion Mortgages (HECMs), HECM refinance, and HECM for purchase. Depending on a borrower’s needs, AAG’s disbursement options can be customized, with choices including line of credit, monthly payments, or lump sum. AAG has a B+ grade with the BBB and generally favorable reviews from customers.
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36 Customer Comments & Reviews
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Hello. Sadly, I am not writing to tell a wonderful story about a reverse mortgage, but am going to let you know about the unsavory behavior of your representative and the fact she and whomever notarized the documents did not use the correct AIF/POA for my folks. These are legal documents, and come with enormous fees prepared by supposedly the best in the industry....and I question their validity and the defect that exists as a result of poor business practices by certain people who I guess we're more concerned going over their commission statement than the official reverse mortgage document my mom who is under incredible stress with my father in the hospital at this time was forced to... Read More
AAG was VERY MISSLEADING by disclosing all but the one main reason for not qualifying to get a reverse mortgage. That is, what the percentage of your loan to value needs to be? If I knew that up front, my hopes to do It would have not crashed and burned the way it did.
I was contacted by them, incessantly, and after talking to them and giving them my S.S.# and all my other information, they did a credit check, causing my score to drop, and were supposed to call me back in an hour. That was over 3 weeks ago, still I have not heard from them. I own my house free and clear, I have a credit score of 817 and no outstanding credit card debt so there is no reason I would not qualify. I would suggest that if youy are seeking a reverse mortgage, look elsewhere.
These people royally screwed my 67 year old mother after promising .. ALL HER DREAMS WOULD COME TRUE" These people are LIARS and FRAUDS!! Anyone else... would have been a better suggestion than American Advisers Group. They want TO steal your money and YOUR HOUSE without telling you the facts . THE FACTS ARE.... ALL ELDERLY MUST CARRY MUCH MORE IN INSURANCE THAN EVER BEFORE. THAT IS WHERE ALL THE LOANED MONEY GOES TO. !!!! NOT THE BORROWER .. THE INSURANCE COMPANIES. They swindle people... if you chose this company for a reverse mortgage ... WATCH OUT!
In my opinion by personal experience this lender destroyed us financially where we should have been secure and now are in a hole. This caused by their underwriter who would would not close with a 99% complete and changed terms prolonging our closing impacting us immensely at the last minute and forcing us to go to another lender
Called them up and they wouldn't let me talk to a mortgage broker. They said they would have one call me later. Never heard from anybody there! Very unprofessional!
We were jerked around by your company. We paid over $800 for the fees for counseling classes and appraisal they told us that it was through the underwriters and was approved. We called today to see when we were having the closing and they told us we don't make enough money. They kept telling us all along it looks good. This company is horrible. If you are smart you will not deal with them.!!!!
This outfit spends a lot of money on marketing. Your first contact is an untrained-in-the-business sales person. result: high cost of providing your loan. They pester you too ! If you understand finance at all, be smart: shop around ! They
Called a week ago & answered all questions. They said they would transfer me to a counselor & then all the lines were busy. They said someone would call me back........................Still waiting...................
I don't seehow they could be#1. The company jerked me around for months; asked for more and more andmore documentation. Said they had a solution and when I pressed for closing came back to me saying disapproved. When I reported to bbb they indicated that the underwriter does not have best use of time calling me back, and that they could not recoup the time spent by the staff working on loan. Donna
- Our # 1 Choice, BBB Accredited, #1 Reverse Mortgage Lender in the nation
- Meet with a Licensed Professional to discuss your personal needs, depending on your location.
- Customer service agents readily available 24/7 to answer your questions
- Approved Member of US Department of Housing and Urban Development
- 96% Customer Satisfaction Rating
- Eligibility: Age 62+, $100K+ home value with 50%+ equity
- Free Information Kit on Pros & Cons