Judith W.

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.