Finance of America ReverseReviews of fareverse.com

The only reason I gave you 4 stars is because was not informed that we could not access our LOC for approx. 2 to 3 weeks. I am 83 therefore, that information was important to me. I will say I did get the money after 1 week or so of closing. My contact Ali was very nice to work with. Other than the above stmt. I give Ali a "10". Barbara Kay Breeling

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.

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.

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

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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.

Customer Service was very good. No long waits. Quick answers. Unfortunately, FAR apparently cannot increase the line of credit on my mortgage with a new appraisal, but a refinance is required.

Great financial deal. Due to COVID it took waaaaaaaaay longer than it should have. But nice customer service