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American Advisors Group has a rating of 4.0 stars from 46 reviews, indicating that most customers are generally satisfied with their purchases. Reviewers satisfied with American Advisors Group most frequently mention reverse mortgage. American Advisors Group ranks 4th among Loans sites.
Superior customer service from this outfit and Mr Fernandez! I mentioned to him that I have been reading that these types of loans are almost as complex as commercial real estate transactions, but he said that he would do his best to help me understand our options. In the end it was quite straightforward. I am happy with the APR and my fees consisted of mortgage insurance, origination fees and service fees. Expensive, but it is what it is like with other mortgages. I don't want to disclose figures here but it's in the 5 figures for a large loan. The world economy will downturn after the election (mark my words), however with the reverse mortgage I have guaranteed funds for my fife and I for the next 5 or so years. There's a lot of numbers and scenarios that can be ran so make sure to tell you bring up your ideas and concerns.
AAG was one of the worst experiences I have ever had. Following my mothers death, I inherited her home and the attendant problems with dealing with AAG. After following AAG's requirements to the letter, I incurred thousands of dollars in legal fees to get AAG to honor their own responsibility. The fact there was more than $250,000 in equity had nothing to do with their continual threats of foreclosure (Not!) They were everything people fear in a reverse mortgage lender. I have a reverse mortgage with Longbridge Financial and have not experienced a similar lack of integrity. In my experience, this company, AAG, is one to avoid when securing an otherwise useful product. Search elsewhere.
The agent (Mark) was terrific but the entitle process was absurdly lengthy (6+ weeks). Otherwise, process went smoothly.
Products used:
Real estate loan
Date of experience: August 16, 2022
The entire process took nearly seven months to complete. We did not feel like a priority.
Date of experience: March 19, 2022
Thank you for the review. We apologize that you didn’t have a great experience; we’d love to take the opportunity to try to improve. If there is anything we can do, please give our CARES team a call at 866-219-7753.
I got my information from Tom Selleck. I believe that almost everyone has seen Tom on TV. This is the very best source to learn about AAG reverse mortgage.
Date of experience: November 15, 2021
Lanaya, was very knowledgeable about what AAG had to offer, She helped me through a lot of questions I had. If I couldn't reach Lanaya, I could always call Ann and they seemed to work together well. All in All I would rate it as one of the most positive experience I have had.
Date of experience: November 8, 2021
Enjoyed our experience. James made it easy and simple. He kept in contact with us all the time. And he was easy to get in touch with. He made it very enjoyable.
Date of experience: June 11, 2022
Thanks for your feedback. We are happy to hear that you had a great experience.
Our Agent, Steve Saltz, was absolutely amazing, communicated well, and really worked for us.
BUT - the underwriting, the processing, the length of time, the conditions, the whole process took FAR too long, the fees kept going up and up, and it seemed like management and underwriting did everything they could to jack up the prices, extend closing for more fees, and it was frustrating and disgusting what AAG does to its potential clients. They are lucky to have Steve to communicate and work on our behalf. My loan took 4 months, but my friend who started at the same time took NINE MONTHS AND $30,000 MORE IN FEES DUE TO PROCESSING DROPPING THE BALL.
Date of experience: April 1, 2022
Thank you for the review. We apologize that you didn’t have a great experience; we’d love to take the opportunity to try to improve. If there is anything we can do, please give our CARES team a call at 866-219-7753.
I am thankful for all of the assistance Harvey Sussman afforded me during the refinance process. He kept me apprised and updated on all of the steps. Thank you Harvey and AAG.
Date of experience: April 1, 2022
Thank you! We’re glad to hear that you had a positive experience.
In the beginning it was touch and go because the agent was incompetent but with AAG'S help with a NEW agent who knew her stuff and was very aggressive in getting me the best service ever it was a breeze! I am completely satisfied and couldn't be HAPPIER! I am now in the middle of upgrading my condo after 20 yrs of which I could not do before because I didn't have the funds.
Date of experience: March 19, 2022
Thank you for being patient with us throughout the process. We’re glad to hear that things went well for you.
Really care and will stop at nothing to get you the help you need...
They truly are about helping people of all walks of life...
Date of experience: November 1, 2021
Hi Ellie, Thank you for the positive feedback. We're so happy to hear you had a great experience!
The only problem I had was with one of the lady's there that wasen't very good at returning calls and it took longer then I expected
Date of experience: June 30, 2017
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.
Tip for consumers:
Because AAG spends quite a lot on advertising they are passing their costs overhead along to us the consumers by way of higher fees. There are other companies who are quite capable of providing the same service at much lower cost to the consumer.
Date of experience: March 8, 2017
The reverse mortgage has been a good experience with AAG, and a game changer in our retirement financial picture.
Date of experience: March 22, 2022
We are happy to hear we could make your retirement that much more enjoyable. Thank you for taking the time to leave us a review!
Chris Sinnet did a remarkable job dealing with all the crap we had to endure to get the deal completed.
Date of experience: March 20, 2022
Thanks for your feedback. We are happy to hear that you had a great experience!
Didn't know much about the whole process Rob help me through it all along with my sons help who is a CPA well done
Date of experience: August 18, 2022
Thanks for your feedback. We are happy to hear that you had a great experience.
I highly recommend AAG! They are very easy to work with and help you through every step of the process!
Date of experience: April 4, 2022
Thank you for your positive review. We strive to provide the best experience for you and we’re happy to see that it was reflected.
First and foremost, IF I could give 10 stars for the way I was treated by Jennifer Feliciano I would in a heart beat. Doing a reverse Mortgage is a decision that you can't take for granted, after all we are talking about your home, your future and your peace of mind. Jennifer took the extra time to not only walk me through the process, but to explain what everything met and how it worked. I must be honest here, AAG was not my first choice to call. I did what so many others do. Looked at the reviews and then called "another" company first. Their "over the top" to get me to sign papers without explaining anything, quickly had me looking for another company, enter AAG. I had the GREAT pleasure to be assigned to Jennifer Feliciano, who won me over with her drive to know me first, to know what I was looking for and my overall knowledge of a reverse mortgage. I think so many of us "tune out" these commercials with actors or ex pro sports figures, we all know they are reading from a script and most likely have little to no knowledge of the process, and that turns away SO many that could use this service. Jennifer pointed out everything and made sure I felt "safe" with that new information. BUT I think the biggest thing that won me over was a time during the process she was on vacation and would be out of the office, I had a question that I could not figure out, so I emailed her. She took the time FROM her vacation to call me and talk to me about the problem. ON HER VACATION! Who does that? IF AAG has employees like her, They are blessed to have them. I would indeed tell people about my experience with not only AAG but how I was treated by Jennifer. Words can NEVER express my satisfaction with this whole process.
Date of experience: November 12, 2021
We had some title issues crop up but everything was worked out. What a blessing!
Date of experience: September 19, 2016
They kept us informed every step of the way.it was a pleasant professional experience.
Date of experience: April 1, 2022
We appreciate your feedback and are glad to hear that you had a great experience.
Slowest turn times of any lender with the highest costs. Avoid this company like th plague.
Date of experience: June 30, 2014
Thank you for being patient with us throughout the process. We’re always looking for areas where we’d be able to improve on, so your feedback is greatly appreciated.