American Advisors Group

The loan officer was wonderful. It's the awful customer service after the reverse mortgage has gone through that I have a problem with. I called because I couldn't get into my account and the person I spoke with said so what do you want me to do about it. Had the same problem recently and 6 days after calling to report the problem I still can't get into my account. Shabby customer service. Their attitude is you're taking up their time with your silly problem. Shop around before you decide who you want to deal with.

AAG was one of the worst experiences I have ever had. Following my mothers death, I inherited her home and the attendant problems with dealing with AAG. After following AAG's requirements to the letter, I incurred thousands of dollars in legal fees to get AAG to honor their own responsibility. The fact there was more than $250,000 in equity had nothing to do with their continual threats of foreclosure (Not!)
They were everything people fear in a reverse mortgage lender. I have a reverse mortgage with Longbridge Financial and have not experienced a similar lack of integrity. In my experience, this company, AAG, is one to avoid when securing an otherwise useful product. Search elsewhere.

Wanted $25,000 and was told I qualified for $64,000. Was not told about interest on unpaid balance. I received $25,000 and the balance was supposed to earning 5% interest. It is actually a bit less than that. The statements are hard to understand.

No Customer Support
This has to be one of the sleaziest companies out there that continues to thrive. I should have backed out when they lowballed my appraisal by 70k ( I had 3 real estate agents in the week prior). But after you get your loan if there's a problem you will never talk to a living person again. The phone numbers have circuitous links that tell you to send papers to a fax number that no one responds to or a email address that is monitored by a bot. I have been trying to reach a living person since November of 2020. Don't be fooled, after they have your loan their object is to get you home. I fall under a tax relief program in my city, due to COVID and a computer glitch this year; thousands of us had to reapply. Of course I was approved. But even though AAG had my approval letter by fax and email since NOVEMBER, today they notified me that because they paid the tax my home will be theirs in 30 days unless I give them 100k. They don't answer the email address they give you nor do they answer the fax they suggest. I have never seen such bad customer service. It's ironic to me that they have someone who has time to answer reviews.

Our Agent, Steve Saltz, was absolutely amazing, communicated well, and really worked for us.

BUT - the underwriting, the processing, the length of time, the conditions, the whole process took FAR too long, the fees kept going up and up, and it seemed like management and underwriting did everything they could to jack up the prices, extend closing for more fees, and it was frustrating and disgusting what AAG does to its potential clients. They are lucky to have Steve to communicate and work on our behalf. My loan took 4 months, but my friend who started at the same time took NINE MONTHS AND $30,000 MORE IN FEES DUE TO PROCESSING DROPPING THE BALL.

My mom had 2 reverse mortgages with AAG. The decision was the right one at the time but she did not not fully understand what she signed. After her passing in 2021 the loan was already passed to RMFLLC. The family complied with all documents needed to sell the property and pay off loan. A contract to sell was forwarded to RMF in 5/2022 and signed contract faxed in 7/2022. 3 weeks later RMF lawyers foreclosed on property charging an additional legal fee of over$4K. This was almost 3 months after a contract to sell property was signed! Beware of this company along with AAG. Neither company will take responsibility, they just want the property to sell and keep all as seats!

AAG was sooooo sweet when they set us up with the reverse mortgage. But buddy let me tell you that if you want to pay off the reverse mortgage you will deal with the worst customer service reps in the entire United States. They have NO empathy for ANY situation. The managers will NEVER NEVER NEVER take your call and they will NOT call you back when you leave a msg. I would NEVER recommend that you do business with this company. I can't believe Tom Selleck is representing this crappy company...

I just got off the phone with a representative named Maurice from AAG and the conversation was very frustrating and a bit volatile. All I wanted to begin with from Maurice was to get some basic, upfront, transparent information about a Reverse Mortgage Program that I was hearing so much about. All he would tell me is that this is a "wonderful" program for adults over 62. He sang the glories of not having to pay back this loan for the rest of my life etc. etc. However my concern was how does this really work... somebody had to be making money on this program. No one lends money for "FREE". I asked about the average interest rates, I asked about any fees that could be charged, I asked about closing costs but Maurice would not address any of these concerns. I gave him basic information about my situation such as the Mortgage balance, The property value, the total household income, our ages and yet Maurice could not tell me about any applicable fees, or an average closing cost, if there was any origination fees, average third party fees, he did not even mention any insurance cost that may be applicable. Instead, Maurice insisted on my giving him my Social Security Number and my Husbands Social Security Number before he can give me ANY information about the costs involved in securing a reverse mortgage loan. THIS IS AWFUL. I was contacted by several agents from other companies specializing in this type of loan and they were all very forthcoming with the information I needed to determine whether a reverse mortgage is right for me. As I was advised, I will compare these costs proposed by several companies before I decide who I will use to follow through with this process since some companies are levying much higher fees than others. I refuse to have my credit pulled up all over town. This AAG representative informed me that HIS lack of transparency represented the policies of the company he works for... AAG. If this is the way AAG does business with the elderly by treating them as though they are stupid and ignorant then their service leaves much to be desired. I am shocked and disappointed in this much touted company. I would strongly advise anyone seeking a Reverse Mortgage Loan to be very wary of this company at this point.

Slowest turn times of any lender with the highest costs. Avoid this company like th plague.