Made the HUGE mistake of doing a reverse mortgage through AAG. Back in 2018, we had a severe hail storm and my roof was damaged. My insurance company sent me a check with my name - and AAG's name on it. I endorsed the check and sent it to AAG to be endorsed.
I was told that after all work was completed, they would send an inspector out to make sure that it was up to code, and then they would send the money. Well, they sent half. I've had numerous inspectors come out and and approve the work.
They've slowly doled the money out in late 2020 and early 2021. They refuse to release the last few thousand. They've given no reason. You can't reach anyone and they never return calls.
AAG reverse mortgage lenders require an fha appraisal. Afterward they try to find fault with the appraisal to lower the value of the home. That way they can loan the home owner far less than the true value as a greed induced business operates. Unfortunately many elderly do not recognize this unethical practice and are convinced that this is an industry standard Personally, aag required my home to be compared to a mobile home sale to attempt to drive the Value lower. Our home is not a manufactured home. All my questions are answered with blame to some other entity, i.e. The appraiser is at fault and the broker is at fault. Not to mention hud and fha are at fault. Discussion with the company is like speaking to a kindergartner. No wonder reverse mortgages have such a stigma Associated with them. They truly try to take advantage of the elderly population.
American Advisors Group Reviews
Made the HUGE mistake of doing a reverse mortgage through AAG. Back in 2018, we had a severe hail storm and my roof was damaged. My insurance company sent me a check with my name - and AAG's name on it. I endorsed the check and sent it to AAG to be endorsed.
I was told that after all work was completed, they would send an inspector out to make sure that it was up to code, and then they would send the money. Well, they sent half. I've had numerous inspectors come out and and approve the work.
They've slowly doled the money out in late 2020 and early 2021. They refuse to release the last few thousand. They've given no reason. You can't reach anyone and they never return calls.
I have now gone to my lawyer.
AAG reverse mortgage lenders require an fha appraisal. Afterward they try to find fault with the appraisal to lower the value of the home. That way they can loan the home owner far less than the true value as a greed induced business operates. Unfortunately many elderly do not recognize this unethical practice and are convinced that this is an industry standard Personally, aag required my home to be compared to a mobile home sale to attempt to drive the Value lower. Our home is not a manufactured home. All my questions are answered with blame to some other entity, i.e. The appraiser is at fault and the broker is at fault. Not to mention hud and fha are at fault. Discussion with the company is like speaking to a kindergartner. No wonder reverse mortgages have such a stigma Associated with them. They truly try to take advantage of the elderly population.