Finance of America ReverseReviews of fareverse.com

This company operates the old school way when it comes to communication with their customers. They believe it is the safest way for them to send important mail to your home address and not by email, but they allow you to send them personal information via email. They also like to send marketing emails to you. I applied to have my funds direct from themto my checking account. After about 3 weeks not hearing from them either by email or home address, I called and was told by a representative at a overseas call center that they need more information. This went on for about 2 other times another 4 weeks. Finally I called and was told that they sent me a confirmation mail to my house address for which I was to call them to confirm. Although I had told them many times that I am overseas. They could have at the least sent me a text or email to let me know to expect the letter Now they said 14 days have passed so I have to apply again. I just don't understand why they are making it a problem to give us money from our funds when that's the only way for them to earn interest.

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.

I was not satisfied with everything that went on while trying to get this company to approve my financing. I know it was during the pandemic and both the agent I was working with and I had some family issues however, I never completely finish the process. I spend unnecessary money to get things done and till this day it’s still not complete so I can’t say I was satisfied when nothing happened

Your Loan Officers need to have a working knowledge of the product they are selling. Providing a customer with their best guess is dangerous and misleading. The other issue I encountered is not having my refinance fund on the day it was required to fund. This in my opinion, is an unacceptable practice on your part, and possibly ilegal.

I think working with Finance of America has been a total loss to me and my previous loan broker as we wasted months and months with FAR and never got to appraisals worth sXXt, frankly...it's too bad because you put in all this advertising and seem to go forward but then it all stalls... And you don't know your right arm from your A-hole...anyway I'm glad I'm not doing business anymore with you and I found a better jumble reverse mortgage company.

The first attempt was a failure because the appraiser's had a conflict ,, the second cost us considerably more expense because we had to wait six months to finally get approval with a different appraiser..a stressful experience!

I get offers all the time in the mail from other mortgage companies that indicate there are lower interest rates available to me, the opportunity to have an equity account set up, and any newOffers that might interest me or be available to me. I get no updates from this mortgage company. They broke you in at an interest rate and that’s where they leave you.

Over the past year I have tried to get an answer to my question.Simply;On my September 2020 and 2021 my Monthly Reverse Mortgage Statement it states that my adjustible interest rate life time cap is 10%.However, the adjustible interest rate note that I signed indicates my life time interest rate cap is 5% over the initial interest rate at the time of my loan closing.I would like you to correct your records and notify me.Thank you,Joseph Andruzzi