Finance of America Reverse Reviews 619

The loan process with FAR through Cross-Country was extremely frustrating and unduly slow. Impossible and illogical documentation was demanded. Closing costs that were not disclosed were sprung as a surprise at closing. Documentation was erroneous, as for example a poorly drafted deed presented at closing. A post-closing appraiser showed up with no warning and no explanation. The mortgagee information on the homeowners policy was botched more than once and required the borrowers to fix it a year later when FAR did not receive renewal notification through its own fault. Notifications of requirements are worded in a threatening manner.

At the moment I feel a bit confused as well as being pressure into going along with cosmetic conditions where money is being set aside, these are conditions which are not required by HUD and would affect the ascetic of my home which would make me not want to live in it, also it would decrease the value of my home. THERE IS NO OTHER REASON FOR SET ASIDES OR FOR THIS LOAN NOT TO PROCEED TO CLOSING, BUT I FEEL THIS MATTER NOT BEING GIVEN FULL ATTENTION TO WORK TO A TIMELY RESOLUTION.

Several issues with the appraisal. Dissatisfied with overall experience and customer service.

David was fantastic and made the unknown journey comfortable with excellent communications and providing information so I can make a informed decision.

Thank you and I am excited to stay in my home for the balance of my life!

absolutely amazing! Our loan officer Ellen followed through on every single thing. This was for my mother. Originally I had solicited and inquired many different financing companies. When I originally spoke to Ellen, I made it pretty clear that I am in the real estate business and we could not handle any games going through this mortgage since my mom is 80+ years old. My fear would be she would become so overwhelmed since she does not have any experience in this area at all. The entire process went so smoothly and quickly and has now given my mother a peace of mind- The stress of not having to worry about repairs here and there on a limited income is a huge relief. Highly recommended To use this company if you are considering a reverse mortgage.

The person who helped me prepare my application was very informative and quite helpful. It made the process less stressful.

Mr Chuck Williams is the best. He is also a good friend as well. Thanks to him my wife and i are able to enjoy my retirement. Thanks again Chuck and be safe out there. Mike and Barb Melchert

So far , so good. Everything is going as planned and explained. , so good

When I originally inquired about refinancing my reverse mortgage I was told after the agent did his dude diligence that my existing line of credit would increase by roughly $22,000.00. Now mind you the agent had all the information regarding my home and it's location of course. After the appraisal came back ($15,000) less than the agent estimated, the LOC increased by only $6,000.00. Seems odd to me that the estimated appraised value only dropped $!0,000 but the LOC dropped $16,000.00 from the estimate. Almost reminded me of the old "bait & switch trick" to get me interested. I by all means am not well versed in the mortgage business so there is probably a very good reason for this happening, but you would think that they could have come a lot closer to the actual numbers-after all this is their business. One other issue I had was the fact that underwriting was slow to get to my case requiring me to send them another financial statement because it moved into a proceeding month. I thought that the financial information underwriting required was ridiculous in detail. It required a lot of my time to gather all information they required. They wanted all pages of any statement (even if it was a blank page)!
All in all I went ahead with the process because the interest rate dropped by 1/2. This was the main reason for my going ahead with the process. The agent was very good in keeping me informed along the process and while I vented on the agent at times every time he said that underwriting needed another document, I knew it wasn't the agents fault.
On the day of closing I had some questions regarding the numbers and called him as the notary public was sitting at my kitchen table. He didn't have a satisfactory answer for me so luckily his boss was available to answer that question and it all became really clear to me how the numbers were generated. Then all was good.

Melissa, in San Diego, tried her best, but the rest of your organization gave me such a hard time, that I opted oput.

I have dealt with Katie May several times. She is very professional, knowledgeable and extremely helpful. She goes out of the way to ensure that I understand all facets of what needs to be done and why. Katie is an asset to Finance of America Reverse.

To all concerned, I initially had some reservations about doing a Reverse Mortgage, but once it was fully explained to me -- that I could capture a good low rate, and continue paying as usual, if desired, or not pay for any period of time, to have more liquidity when needed, as we go through our later years -- I realized the is a Super Convenience to home buyers as they age.

And I say this as one who has been a California Realtor for over 31 years !
Tom Mees

Our representative , Franchesca Prantil, was very helpful and knowledgeable as we began our process towards a Reverse Mortgage. We look forward to working with her as we continue on the journey.

no stars! Call me and I will tell you about 8 months it took to get the new loan
and the cost I lost of $25,000!!!!

I was very very satisfied with the agent who worked with me when i applied for my Reverse Mortgage, Matthew Roy Bowman. I was very disappointed when he was not with your company when the R.M. was completed.

Your lost was another company's gain,

Thomas J. White III

Nicole was efficient and kept me informed and up to date of the progress. Very happy with the results

no comments#

Andrew was very helpful in helping us understand the "numbers."

No matter our questions, he took time and answered back, explaining in detail and made sure we were satisfied.

It worked but it took forever! We were in escrow with another company but because we were with Finance, at the time, they intervened and offered us a better rate. In the future, we’ll save money but we felt that the process was dragged out so Finance could make a bit more money.