American Advisors Group (AAG) Reverse Mortgage Reviews

3.8 of 5 | 10 Reviews
Overall Rating
3.5
Rates & Fees
3.9
Customer Service
4.0
Knowledge & Expertise
  • AAG Reverse is a lender that only specializes in originating reverse mortgage loans. AAG reverse is a recognized leader in the reverse mortgage industry, dedicated to providing seniors with quality customer service. AAG provides a free DVD and brochure to those looking to find out if a reverse mortgage is right for them and offers both fixed rate and adjustable rate reverse mortgage. AAG recently hired former Senator Fred Thompson as their spokesperson in an effort to dispel some of the negative publicity surrounding reverse mortgages.

    Headquarters: Orange, CA
    Website: www.aagreverse.com
  • Additional Information

    AAG Reverse Mortgage Top States CA, NY, PA, TX, OR, WA, GA, FL
    FHA/HUD Approved Yes
    NRMLA Member Yes

Bills.com Rating

4.5

AAG Reverse is a professional and experienced reverse mortgage lender. The AAG staff is highly trained and very knowledgable about reverse mortgage product. They can help you determine if a reverse mortgage is right for you. AAG Reverse is rated A+ by the BBB and is a member of the National Reverse Mortgage Lenders Association.

Pros: Professional, Reputable, Quality Customer Service
Cons: Uninformative Site

Reviews & Ratings

Is anyone there?

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Bangor, CA  |  May 21, 2013
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1.0

1.0
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1.0
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1.0
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I have called 4 times only to be transferred to someone named Edward who is never in the office. He does not return the calls. Today I called again. Again he was out of the office and I asked to be transferred to his supervisor. Who was also out of the office.Is anyone ever there? Edward Aziz where are you?

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Frank V.
Downey, CA  |  June 06, 2013
 
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Hello Patricia, this is Frank from AAG. Call me directly at (866) 948-0003 ext 775. I can help

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Fred Thompson

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Morris, AL  |  March 12, 2013
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1.0
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I am so tired of Fred Thompson"s TV ads every hour or two that I would not touch your company with a 10 foot pole. Count me out! RDP

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Happy Granddauughter

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Cornville, AZ  |  January 20, 2012
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4.0

4.0
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4.0
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4.0
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I recently helped my grandparents through the reverse mortgage process. We used AAG and were very satisfied with the company.My grandparents had complications with their title, however they still received their funds within 40 days of starting the process.I helped my grandparents by researching reverse mortgages and learned a lot--the borrower has responsibilities too-My gparents had to complete HECM counseling prior to going forward (govt requirement). Perhaps there were complications AAG couldn't control

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It's great to be free of our home mortgage

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T/o West Orange, NJ  |  January 09, 2012
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5.0

5.0
Rates & Fees
5.0
Customer Service
5.0
Knowledge & Expertise

My husband and I were watching TV and the ad for AAG came on, so we decided to call. After we watched the CD we talked about the possibility that a reverse mortgage could end our financial problems and decided to call AAG. Frank, our rep, helped us through every step, answered all our questions and returned our call promptly. At the end, AAG helped us to be relieved of our mortgage payments. Companies like AAG are hard to come by and it's great to be free of our home mortgage.

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Brian B.
Dallas, GA  |  July 26, 2013
 
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Joann, money offered to a borrower is a formula set forth by the government based on age and home value - closing costs are the costs (origination fee, UFMIP, and third party fees) - the company can cut origination and cover other fees if they choose to - so how does spending millions in advertising make them offer less money? All that means is that AAG makes less money per closed loan b/c of their marketing costs - but the borrower gets the same with AAG or whomever they choose.

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Joann H.
Star Valley, AZ  |  February 05, 2013
 
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AAG spends millions every day on TV ads - 3-4 times an hour - on every TV station. Plus what do they pay Fred Thompson - possibly millions also? This amounts to millions of dollars that could have increased YOUR money received from dealing with this organization. What a scam!

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AAG was painless

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Albuquerque, NM  |  December 01, 2011
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5.0

5.0
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5.0
Customer Service
5.0
Knowledge & Expertise

Speaking from personal experience, it was a difficult decision. I think most of us are raised thinking we need to work for a long time and pay off your mortgage. I guess the word "mortgage" carries a negative stigma and scares people At any rate, AAG was extremely helpful in explaining everything in a clear and simple manner. They eased all my concerns that I had in making this happen. They didn't try to sell me something; rather they helped me sell it to myself that was what was important.

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Helpful and knowledgeable staff

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Atwater, CA  |  September 02, 2011
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5.0

5.0
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5.0
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5.0
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My son suggested this service to my wife and I and it was a great decision. American Advisors Group kept all of their commitments and their customer service was excellent. They answered all of my questions thoroughly and explained the entire process to me clearly. They made sure I understood everything that was going to happen. I would be happy to recommend them to my friends.

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AAG Reverse Mortgage(s) are VERY expensive

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Chicago, IL  |  August 20, 2011
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2.0

1.0
Rates & Fees
3.0
Customer Service
4.0
Knowledge & Expertise

HOLY COW are the fees high for a reverse mortgage from AAG. The so called American Advisors basically advise you to take a very expensive loan from them, especially if your house is only worth less than $150k like ours. I wish I could get a better and lower rate loan from a bank, but AAG is the best deal I have, unfortunately.

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Brian B.
Dallas, GA  |  July 26, 2013
 
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Fees are set by the government.

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Thank You AAG

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Ontario, CA  |  May 25, 2011
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5.0

4.0
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5.0
Customer Service
5.0
Knowledge & Expertise

I got a reverse mortgage with AAG in 2010. The service was excellent. I couldn't ask for any better service from anyone. I could reach Michelle anytime I needed. I was amazed at how smoothly everything ran. I never dreamed that this would go through as quickly as it did, and with as much ease as it did. After getting this reverse mortgage, I'm so relieved, and excited for the future.

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George S.
Macon, GA  |  March 13, 2012
 
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Carolyn, I think I know the problem. You admitted that you "moved" or "left" your "home-state" to reside in a home in CO to qualify. You have to live in a home 6 months out of the year to qualify as a primary residence. Even the IRS has that rule. Sounds like you are actually "living" somewhere else but you want the program to bend the rules so you can qualify.

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Vince H.
Satsuma, FL  |  February 02, 2012
 
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I had a similar experience with M&T Bank in upstate NY. After 2-1/2 months they denied the loan under similar circumstances. I wondered if there was a way to complain or appeal To HUD, since they oversee the program. After a while, I contacted my local congressman, thinking to have them contact HUD. The last I heard they contacted the "Governmental Affairs" office of M&T and they agreed to review the file. This was in the last few weeks, so I can't tell you "the rest of the story" yet. The moral is: Since reverse mortgages come under the Federal HUD program, it is something members of congress can legitimately question. I have found my MC's office eager to assist in any way possible. A very sharp young lady on his staff is handling my case.

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Carolyn M.
Colleyville, TX  |  June 12, 2011
 
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I am not having a pleasant experience with AGG at all. I have left family and friends from my home state to reside in my home in CO to qualify for this RM. I have followed every rule I was given, but the rules seem to continue to change. i was even told that my home dies not look lived in because it was too clean and the towels are too neatly folded. That is the honest truth!!! I am still gathering more infor for them and will continue but I need to know if there is anyone who can help me in this process. If the rukes are going to continue to change I need to be told so that I can elsewher, even though now I am months into this. I am desperate for someone's help. This is all advertised as way too easy and some not seeming accurate at all. thank you, Carolyn Meier

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Wonderful company at American Advisors

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Kennesaw, GA  |  May 25, 2011
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5.0

5.0
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5.0
Customer Service
5.0
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I have no hesitation in recommending American Advisors Group to anyone considering a reverse mortgage. You will get honest and competent answers to any questions you may have, along with superior service and support throughout, which is hard to believe in a transaction involving FHA and HUD. The work done by these people has enabled me to fully retire at the end of this year, for which I expect to be always grateful.

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The grandmother of a good friend

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Plainfield, IL  |  February 08, 2011
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5.0

4.0
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5.0
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5.0
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I would use this company over Binder & Binder any day of the week!! This company got my friend's grandma her money in a short while and she now is debt free and taking vacations 2-3x each year. She received her money in late 2009 and is living great at age 67.

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Vince H.
Satsuma, FL  |  February 02, 2012
 
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What does Binder & Binder have to do with it? Aren't B&B attorneys? I don't think they give reverse mortgages?

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