American Advisors Group Reverse Mortgage Review
32 Customer Reviews - see all comments
Disclosure: We receive advertising revenue from this partner. Learn more.
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.
- 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
- Free Information Kit on Pros & Cons
- 96% Customer Satisfaction Rating
- Eligibility: Age 62+, $100K+ home value with 50%+ equity
Latest American Advisors Group Reviews
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
Stay away from this outfit!!! They never return calls, they want bank statements personal information after sending everything to them they would lie to us and say they never hot it we have proof on our copter that they did After 4 months of stress and lies from them not to mention appraisal fee and they even put their name on my homeowners insurance I demanded to know what the heck was going on,they said everything was moving along ok and would call me next day. I told them that wasn't ok and he said ok we can't give you a reverse mortage He took 4 months to tell me that after taking my money and putting their name on my insurance The guy that was handling mine said he was a minister... Read More
I called AAG with not knowing if i was to stay in my home or move in the near future. AAG explained that if moving was a potential future plan, then we could pay on the reverse mortgage at our own pace and time as we go. No late payments, no credit hits, no foreclosure, no 30 day regimen. That way, every dollar we put in the loan to pay off the balance owed will be placed in a growth account/ line of credit, growing at the same rate as the interest on the loan. That allows me to control my balance if I want to sell in the future, deduct from taxes the interest paid, and to have access to more tax free money later if I don't sell. This is a great product no matter what the future plans.... Read More
Would not recommend this company to anyone. 4 months into the process I am still waiting. The Company is slow to respond and they always need 1 more thing. I have paid $1000.00 out of pocket so far for multiple Fed Ex shipping documents, counseling and appraisal not including phone time. I am getting the impression they have no idea what is going on. My home appraised at $352K it is paid in full, my credit is good and at 63 I am still working. The stress of this process has been extremely overwhelming and caused me great anxiety. I have heard for 2 months we are getting close to closing....by the way one more thing that will take us at least a week to review then we will probably... Read More
Neither the website nor the people at the 800# will provide any info on rates, closing costs, etc., unless you give them your address so they can start barraging you with videos and info packet. NOT the way to do business!
They got a terrible appraiser, so we could not do the deal. They presented us with great numbers, if the appraisal came in at a certain amount. So, beware, be sure they get you a decent appraiser. They will tell you that they have to go into a pool to get one, maybe so, but they need to weed out the bad ones! We have a complaint filed with HUD on this experience so others may not have the same problem. My friend Tom Sellick will be informed about putting his name with this company!
Went through the entire process including paying for an appraisal and they never at any time indicated my home would not be eligible because of the ratio of mortgage vs equity. The current mortgage is 70000. Home is worth 160000.
Great company to work with. All dealings and final numbers were positive
Ed Wacaster laid everything on the table and gave us 5 star service. He is a kind and knowledgeable man. We will be referring Ed and AAG.
Keep up the good work! Diva and the reps were pleasant and reliable and I am happy with my reverse mortgage. I have only good things to say about AAG.
Good company. I don't have a single question that went unanswered. Was expecting something for referring my neighbor besides a thank you card?
The Rep that took my call was Bill from Poway, ca. And quoted me a pay out of $17,000 with me having $163,000 equity in my condo and a life expency of less than 10 years! You are forwarned!!
Kolleen is unbelievable and I want to give the highest possible accolades for her service. She is professional, responsive and accommodating. I trusted her every second of her leading the way, yet I never felt pressured or rushed. She deserves an A+ rating.
Thank you. Thank you. Thank you. I am very glad that I did my research and with this mortgage company. We live in a rural area with comps few and far between but they made it work. Excellent appraisal and quick turnaround.
Thank you for finishing what One Reverse could not. Quicken Loans (parent company) have a great name but they are NOT quick. We're on a well + cistern and have a solar lien but AAG made it happen. A bit slow, but the end result is great. Many thanks
Superb experience, with few mistakes. Chuck Burson is a stand up man and took care of us. We refinanced a prior reverse loan since it was not drawn from and AAG got us better rates. I would recommend.
My agent was a man we had used when financianing our house years ago. Since I knew him it was easier to "deal"......was a hard sell person with whom you must have done your homework about the reverse mortgage process, closing costs, etc. This is true with ANY real estate person. I was able to negotiate rates, closing costs etc. and the process went well. HOWEVER, customer service with AAG is the PITS....they still (after being a customer since August 2015) cannot find my loan with the loan number which comes on my statement each month.....and reps who answer phone seldom know answers. etc. I've been left on hold, passed around, and basically only get service when I ask for a... Read More
My mother first applied in May of 2016 and is still waiting for this to go through. It has been nothing but a hassle. They have been putting things off for months and then she had to do another counseling session and another appraisal. Her home was completely paid off and she had good credit and income. We are so disappointed in this and would have gone to someone else but we had already paid for the appraisal and counseling. My poor mother is a wreck. We would never recommend this company to anyone.
do not answer direct questions, refuse to allow talking to anyone but 1st line intake rep. 0 customer care!!!!!!
We have been very happy with our reverse mortgage with AAG that we got over a year ago. Recommend them highly.