Finance of America Reverse LLC

"This company are crooks. They sat a LESA which is a Escrow to pay my taxes and insurance . Only 2 months into the loan I get a notice from court house they didn't pay my taxes. Then about 6 months into loan a tornado hit my house,vtore it up bid time and they did not pay my insurance. Law suit pending. This company are scams. In fact, when I spoke to attorney that was his exact words.BUYER BEWARE!,YOU HAVE BEEN WARNED. They will treat you like you renting from them. Stay away"

"Ugh, I didn't have a choice about the reverse mortgage company I used since the lender appears to have used this one. Anyway, I received ppwk today for the reverse mortgage. Some of it went to my mom's house, some went to mine. The borrower was listed as my mom and not her trust. They refused to speak with me because I was "unauthorized" on the account. Are you kidding me??? In order to get the reverse mortgage, I had to submit THE ENTIRE trust to the lender, including POA paperwork. I had to be approved as both Trustee and POA before the underwriters would even begin to consider the loan. In other words, it was a major undertaking and it was verified. Now, all of the sudden, I have ceased to exist as Trustee and POA for my mom with this reverse mortgage company. But, here's the kicker. I still need to access the money to pay her caregivers, who live in her home. No money, no caregivers and I have to move mom into a nursing home, which I was trying to avoid. Honestly, I'm beginning to think I would have sold the home and moved my mom into a nursing home. She wouldn't have been able to stay in her home, but I would've been able to avoid this whole, nasty process. I'm not sure if they're shady...but they don't seem to have what they need. So much for trying to help my mom. Now, I'm just trying to keep myself from going crazy dealing with this bureaucratic nightmare. Update: 9/20/23: Please also note their reply to me today was to contact their company. Totally fake recommendation since THEY WON'T TALK TO ME when I call because they say I'm not authorized on the account. Such a ridiculous thing to suggest to me after refusing to help me on the phone once, already. That reply must've been automated with a purpose to look good, instead of help."

"Oh please please DO NOT allow your Elderly to place there house in any type of reverse mortgage especially not those backed by HUD or the FHA. Finance of America, Reverse LLC, Compu Link, Celink, PHH, HUD and the FHA are all players in an almost 70% foreclosure rate on reverse mortgage. I inherited the property from my mother when she passed away October 5, 2022 and she at that time she had a remote reverse mortgage, loan balance, approximately $450K. I had already decided to sell the triplex, here in Los Angeles 90008 similar properties has sold for at least 1.5 million. Without going to the horrific details after I submitted my letter of intent, along with all the required documents for which I was given the deadline of March 6. The documents had been submitted way before then around February 17, 2023. On February 14th finance of American reverse LLC, with out any notice or substantiating documentation initiated legal action, a foreclosure on my mothers property. This foreclosure is in violation of Covid Relief guidelines, CFBP and HUD and FHA guidelines. I am finding out that the companies listed above could very be all one in the same companies. I do know for a fact that Celink aka CompuLink are contracted by HUD and FAR finance of America reverse TO service their Reverse mortgages. But please here’s the real kicker Google Celink complaints, google finance of America, reverse federal trade commission violations. FAR was fined $2.74 million because a fraudulent appraisals and Celink was fine $4.75 million in 2019 by violating the false claims act. The CFBP and BBB combined have hundreds of complaints on all four companies and yet they blatantly continue committing FRAUDULENT ACTS AGAINST THE ELDERLY and their heirs. Is there a good guy is this nightmare? I thought it would have been HUD or the FHA. I sent an email to HUD June 18, 2023 left several voices messages with one of the representatives in the Oklahoma office by the name of Jessica Jones and I have yet to receive any response back so it doesn’t look hopeful. Thanks for listening."

"Very shady. Selling a house with their reverse mortgage, have a letter regarding payoff amount and they say they cannot get the payoff price together before the closing date. They have 5 days. Never use this company. They should be prosecuted. Stay away from this company."

"As a customer, I'm shocked by what has transpired on my mortgage with Finance of America Reverse LLC. I received a letter stating my loan was in default and headed for foreclosure.....over $85.00. My insurance is current as are my taxes, so??? After contacting the lender, they explained my insurance had lapsed for 28 days (??) IN 2021! The $85 was lender coverage they added. I said" If I didn't pay the $85 the bank would move to foreclose". I asked if I could pay it now over the phone? No, I needed to go to the website and fill out a form to confirmed I live in the home (they would foreclose on for $85) and then I could call back and pay..........Thanks for making it easy. As a veteran Realtor, I was angry that I had a loan like this and WORSE, have promoted many reverse mortgages to my clients, not knowing that a few bucks out of a loan could cost them EVERYTHING! The biggest hurtle I have heard when bringing up a reverse mortgage to my clients is "The banks will try to steal your home!" Well? ++++++++++++++++++++++++++++++++++++++++++++++++++ THIS IS AN UPDATE TO MY CONTINUED TREATMENT OF FINANCE OF AMERICA REVERSE MORTGAGE!!!!!!!!!!!!!!!!!!!!!! Its' almost April (2023) and Rev Mortg was sent a check for $24999.00 for partial payment from my insurance company. The instructions ( per you company) were that they would hold the money and send that money back to me to give to my roofing contractor to replace a damaged roof. I sent the check Feb 17th express mail. The said it would take 5 days. Its March 20th and NO ONE at the loss draft department can tell me anything or transfer me to anyone who dose. I've been told several times I would receive a call back from a supervisor, never happened. I even received a letter from you stating what would happen if I didn't get my roof fixed!!!!! When (or if) this gets fixed, I will 100% refinance my home with a company who can perform correctly and with competence. Two opportunities to retain a customer (A REALTOR) and two opportunities lost! "