Finance of America Reverse Reviews 619

After the first appraisal, which we knew was low, HUD requested a second appraisal hoping that the value of the house had gone down. It went up by $100K so they stuck with the first appraisal. This added approximately 4-5 weeks to the process, which is my only complaint. The loan officer kept me in the loop the entire time and was easy to work with.

The entire process went smoothly. Our processor, Dana Leigh, was phenomenal! We had a referral to Finance of America Reverse from a close friend and we are glad we took their advice.

If you go with this company carefully watch the fees. They will add or change. They are probably thinking that seniors are too senile to understand the documents. If you go with this company you certainly will need an attorney. I would never recommend this company to any of my friends or family. The loan servicing department is a disaster. When your insurance company sends you a check for a claim it must be signed and be sent to their servicing department called CeLink. They will have you wait weeks to disperse the funds even though you have repaired and paid your contractor. Numerous hours and phone calls and each representative will tell you something different. Even the forms they send you to submit your documents has an incorrect return email address . As a senior this is not only stress producing but something you should not have to go through at this point in your life. Again if you go with this company I hope you have a friend that’s an attorney because you will need one eventually. Not sure why the positive reviews has not been my experience At this point I wish I sold my home or even claimed bankruptcy than dealing with finance of America. Avoid and go to another company. The reality is they don’t care. Look at the other reviews. If you want your life to become complicated and frustrated then go ahead and go with this company. I do not believe any of the positive reviews. Wonder who they’re paying to write them.
Update: we have reached out to Finance of America numerous times with resolution for their poor customer service . Futile. That is why review was posted to inform other potential clients. READ OTHER REVIEWS!

To say I was unhappy is an understatement. This reverse mortgage took months, from Oct. to Mar. Always excuses, always my fault, (didn't send correct paperwork) They are not on your side, they are on the side to make themselves money. HUD requested 2 appraisals, but one appraisal was much higher and they look the lower appraisal, even after I showed them they had made mistakes, they said there was nothing they could do. Which you will see in their replies, always not their fault. I would NEVER use them again and only ask you read the many bad reviews. I even asked them about the bad reviews and they had more excuses. I wish I would have not used them, nothing was worth what I went through.

Completely ignorant of the HUD rules! No ability to explore any creative solutions for anything - basically a checklist automaton.

I was dealing with Robert Commerford he took a lot of info including me and my wife's S.S. numbers. This is after he told me everything looked OK. I waited and waited for a call back and finally he called and said it would't work at this time no reason just would't work. Why would he take personal information after he told me everything look'd good. Very poor business practice.

Our house search has been a long and frustrating one. Joe DeAngeles has been there with us and for us every step of the way. He is terrific!

It was very disappointing in the final outcome because all through the process I was continually assured that no mortgage insurance would be applied to our loan. This was very important to us and was made known. We were advised that there was a s program at that time for our loan not to have the mtg. ins. That was not true, aka, a lie. Our loan does have mortgage insurance. FAR, you were trusted (operative word, were). Too bad the truth wasn't told at some point in time instead of weeks later . Deceived is how we feel.

The only problem I had in December was that you did not fund my loan in a timely fashion after I had signed all the papers and got them all notarized. The loan was supposed to funded on 11/30/2021 and it didn't get funded until 12/3/2021 and I had to call twice to your company to get it funded when I had done everything on my end that you needed. Your delay in general on the in the refinance of my jumbo reverse mortgage meant I had to pay more money in interest on my loan balance that I was refinancing and you were the company I had used in 2018. I believe that delay exhibited " bad faith" on your part and discrimination against me as a senior citizen who was female with physical disabilities. Since your company deals with senior citizens all the time, your actions with me showed" bad faith", and this discrimination which is not good for your company to be viewed in the light of discriminating against females or women or men with physical disabilities, I always paid my property taxes, homeowners insurance on time and did maintenance as necessary and filled out the annual occupancy notice too. So maybe you ought to be more understanding to repeat borrowers in the future.

I am not yet ready not to use a reverse mortgage, but theses folks have been very helpful and informative, so that I really understand what’s involved in choosing this. Bravo!

The communication and follow up was not very professional. There is a lack of effort and knowledge. I found it very disappointing and would not recommend this company to anyone. I was misled by my mortgage lender, they were unresponsive at times, until I pushed for feedback several times. This not how a senior should be treated.

Finance of America RM is an upstanding, honest and helpful community of RM experts willing to navigate you; beginning to end, about what implications your reverse mortage may have. I'm very happy with them.

Katie May is terrific throughout the loan process

If I could give a -10 review this would be for Finance America. I would never recommend anyone to use their services. I did everything they advised me to do and I do mean everything. At the end when my house was appraised, I was told it appraised to high. A second appraisal would have to be done. This second appraisal by the appraisal they hired valued my house $65,000 less then the first appraisal. Of course this killed any chance I had. Watch out I do not recommend this company

Shirley Standifer

Seniors beware! FAR sent an appraiser who lied all over my home report, resulting in the appraisal coming in over $200,000. less than my property value. Vinyl floors, when I have white pine, no garage or fence when I have both, years old and out of the area property appraisals, etc when they should be current, all frauded to bring the value down. We all believe most of it was taken off of Zillow and wasn't consistent with current values on waterfront property. .Luckily I had a smart real estate attorney, the assessor, and several real estate personal looking at this loan. One thought it was about gender and age. Another thought the value was pre set by the lender. Upon checking reviews FAR was fined two and a half million for bad practices last spring by FHA. Check google reviews before continuing with them, And I had to pay for this appraisal, counseling etc. then got another bill for $175.00 to look at a simple trust. Even though I contested and had proof of all the misrepresentation with comps, pictures, etc. they refused to consider another appraisal even though they tell you they will do two. When they realized I wasn't going to cooperate, they didn't return my phone calls. Just a terrible rip off scam.

The people were kind, helpful, and informative. They walked with us through every step to get the process completed as expeditiously as possible. The final terms were exactly what they told us, so no undo surprises.

Slow communication, telephone numbers that don't work. Calls no returned

As much as I understand about mortgage's and loans, I found Finance of America to be the best Company that I have had to deal with. . . I've been around for a long time. . . Keep up the go work. . .

This is my second review! And what can I add to the excellent service from Finance of America! There were some documents missing from our Refi and recieved a call informing us of the error. No Problem, they emailed the docs for signing and I just sent them Fed Ex overnight. No problem. Go FAR !