mortgage & home loan refinance | vase at home

American Advisors Group (AAG) Reverse Mortgage Reviews

Overall rating:
4.0
of 5.0
Rates & Fees:
3.5
of 5.0
Customer Service:
4.0
of 5.0
Knowledge & Expertise:
4.0
of 5.0

About American Advisors Group (AAG) Reverse Mortgage

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.

Headquarters
Orange, CA
Website

Bills.com's Review

Bills.com Rating:
4.5 of 5
 

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.

Pros

professional, reputable, quality customer service

Cons

uninformative site

Customer Reviews (11)


Sort by:

The entire process was very positive

by | July 16, 2014
Before my husband died, he knew that I would retire one day and he asked me to look into a Reverse Mortgage when I was ready to retire. After he died, I continued to work, but in the meantime my younger sister (who is also a widow) moved in with me. Then my mom, also a widower lost her significant other and I moved her in as well. With the reverse mortgage, I was able to pay my loan off, pay off my taxes, my mom's property taxes and have been able to raise my credit rating to a much more acceptable number.

Is anyone there?

by | May 21, 2013
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?

  • FV
    Jun, 2013
    Frank
    Downey, CA
    Hello Patricia, this is Frank from AAG. Call me directly at (866) 948-0003 ext 775. I can help

Fred Thompson

by | March 12, 2013
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

Happy Granddauughter

by | January 20, 2012
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

It's great to be free of our home mortgage

by | January 9, 2012
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.

  • JH
    Feb, 2013
    Joann
    Star Valley, AZ
    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!

  • BB
    Jul, 2013
    Brian
    Dallas, GA
    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.

AAG was painless

by | December 1, 2011
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.

Helpful and knowledgeable staff

by | September 2, 2011
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.

AAG Reverse Mortgage(s) are VERY expensive

by | August 20, 2011
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.

  • BB
    Jul, 2013
    Brian
    Dallas, GA
    Fees are set by the government.

Thank You AAG

by | May 25, 2011
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.

  • CM
    Jun, 2011
    Carolyn
    Colleyville, TX
    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

  • VH
    Feb, 2012
    Vince
    Satsuma, FL
    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.

  • GS
    Mar, 2012
    George
    Macon, GA
    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.

Wonderful company at American Advisors

by | May 25, 2011
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.

The grandmother of a good friend

by | February 8, 2011
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.

  • VH
    Feb, 2012
    Vince
    Satsuma, FL
    What does Binder & Binder have to do with it? Aren't B&B attorneys? I don't think they give reverse mortgages?