Complaints

This profile includes complaints for AAG's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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• 

  AAG

  18200 Von Karman Ave Ste 300 Irvine, CA 92612-1016

• 

  American Advisors Group

  600 Townpark Ln NW Ste 300 Kennesaw, GA 30144-3734

• 

  American Advisors Group

  600 Townpark Ln Nw # 300 Kennesaw, GA 30144-3734

• 

  American Advisors Group

  600 Townpark Ln NW Ste 300 Kennesaw, GA 30144-3734

• 

  American Advisors Group

  600 Townpark Ln Nw # 300 Kennesaw, GA 30144-3734

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:11/16/2022

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On October 10, 2022, we contacted AAG to start the process of obtaining a reverse mortgage on our home. On November 2, 2022, I received a call from our loan agent, *****************************, in which he told me about the value of our home according to their appraiser. It was extremely low at $700,000 when it's valued more realistically in the $850,000 - $900,000 range. I understand that their appraiser would be conservative to protect their interests, but this was so low we wouldn't qualify for the reverse mortgage. However, our loan agent said he talked to his supervisor (sounds like a used car salesman to me) and we could still close the deal if we brought $42,000 to closing. If I had that kind of cash laying around I wouldn't want a loan.So now we're out the $140 for a HUD required "counseling" session, and $640 for the appraisel. We have left multiple phone and e-mail messages to several people at AAG to find out what we need to do to cancel our application, but have received no return contact. We feel like we've been scammed and want our $840 dollars back.

  Business Response

  Date: 12/01/2022

  AAG is working on the response and would like to request an additional seven (7) day extension to respond to the above referenced complaint.  With your kind consideration and anticipated approval, the due date will hereby be amended from 12/1/22 to 12/8/22.We hope you find this to be fair and equitable
  
  Thank you in advance for your professional courtesy.

• Initial Complaint

  Date:11/03/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Failure by AAG/Reverse Mortgage *************** to secure a reappraisal; unreasonable delays and lack of communication.-- We were given until Nov. 22, 2022 to have certain repairs completed, forms sent in and reappraisal made.-- Repairs were completed on 10-12-22; forms sent in 10-19-22 (confirmed by them as having been received 10-20-22). We asked to have the reappraisal scheduled.-- Scheduled date for reappraisal was 10-25-22, 12 pm. 20 minutes before 12 noon, an employee from the ************************************ (selected by AAG/RMS) called to cancel the appointment, saying they'd call back later that afternoon. They failed to call back on the 25th. They also failed to call any other day that week. I called them to try to find out what the hold up was, left messages but got no return call.-- Oct. 26th (to present, Nov. 1st) called AAG/RMS multiple times to try to find out what the hold-up was, but AAG/RMS didn't have any answers, and no new information. Multiple failures to return calls, email us about progress. We were essentially in compliance (work specified was completed) as of 10-12-22, but needed to have contractors come back to fill out HUD-specified Lien Waivers, which was done as of 10-19-22. (Our initial closing on the refinancing of our Reverse Mortgage was completed on 11-22-21, and we were given time to get the work done until 11-22-22. -- However, Nov, Dec'21, Jan'22 - Mar'22 are *WINTER MONTHS*, and no outdoor work could be done. We also had to find a qualified contractor to do the work of *repair* rather than rebuilding, which took from Mar'22 and into Apr'22. Finally, both our front porch and deck repairs were completed as of 10-12-22, and here we are 11-1-22. AAG/RMS has stalled, in our opinion, failed to secure a reputable appraiser for us (one who would honor an appointment, for example). If repairs are not recorded by AAG/RMS, we could be *erroneously* placed in a default status, and DENIED MONIES FROZEN. That's malfeasance in our view.

• Initial Complaint

  Date:10/16/2022

  Type:Order Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  AAG's over promise and under value is cruel deceptive predatory elder abuse. AAG reverse mortgage deceptive practices. Started refi of reverse mortgage AAG in April of 2022. GFE $275,000 $130,000 payoff $36,000 cash @ closing 87-year-old widow, Refi purpose, home improvement/maintenance, vacation, medical.Suffered a stroke on 7/24 afterwards informed AAGs loan officer ********************** #NMLS ******) of her difficulty reading and comprehending the paperwork in a phone conversation. Appraisal was far undervalued (average of sold comparable homes) by $25,000. Yet paint and caulk, set aside for repairs, $950.00. Cash at close was $850 with the rest $X0,000 held in escrow for taxes / insurance. Balance of unavailable for 2 years. History of late paying taxes late by one quarter a few times earned a penalty and the privilege of now having her finances and property professionally managed. If known/understood this @ any time she would have stopped. If taxes and insurance are secured now, why the 2-year hold accessing remaining principal limit of equity?Incompetent sub-contractors. Foundation inspector failed a certified full perimeter concrete foundation for no lateral tie downs on real property with an EXISTING HUD reverse mortgage.Requiring a handyman to remove/replace exterior siding to provide photographic proof of perimeter tiedowns, providing photos and copies of original certificate of attachment documents. With no apologies the foundation inspection was revised and approved.Non-Disclosure / counseling of changes/addition to Life Expectancy Set Aside. No counsel how this affected cash at closing or penalty period. Requesting counseling recordings.Notary issues, no documents were stamped at signing, visiting notary took them back to office. As of 10/6/22 has not received signed copies.3-day cancelation period is impossible when all final documents/payments are/were pending or still not received.

  Business Response

  Date: 10/21/2022

  Hello,

  AAG is working on the response and would like to request an additional fourteen (14) day extension to respond to complaint ID: ********. With your kind consideration and anticipated approval, the due date will hereby be amended from October 24, 2022, to November 7, 2022. We hope you find this to be fair and equitable.

  Thank you in advance for your professional courtesy.

• Initial Complaint

  Date:09/20/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  AAG forced us into a contract for $5000 less than than the agreed on $13000. by saying they would close in 90 days and we should take advantage of the pandemic no payment till later with our old mortgage company who was calling and writing putting us on the edge of foreclosure just days before the letter of intent to foreclose AAG stepped in after 6 months gave us a sign or lose everything we own for $5000 less than the agreed upon sum. and NOT giving us a copy of the contract,I would like our $5000 an appolagy and a change in there ability to make these claims in spite of their actions

  Business Response

  Date: 10/04/2022

  AAG is working on the response and would like to request an additional ten (10) day extension to respond to the complaint Id: ********.  With your kind consideration and anticipated approval, the due date will hereby be amended from 10/4/2022 to 10/14/2022.We hope you find this to be fair and equitable
  
  Thank you in advance for your professional courtesy.

• Initial Complaint

  Date:08/30/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  September 2021 is when the reverse mortgage was started with the mortgage company AAG we were told that a reverse mortgage would give us the ability to help my mother financially we were promised a certain amount of money at the end of the loan not the end of the loan but in a year after the loan had appreciate it we were told we were allowed to get a certain amount of money if we wanted them to stop paying the insurance and taxes on my mothers home well a year goes by we wait we call back and they say the guy who told us that has been fired because of his conduct with the company which I'm assuming is because he was lying to people and now we have to try to refinance the house with my mom's credit and a home with its equity we're here to find out there's not enough equity in the home but we were promised when we started the loan that it would be available to us a year later we were counting on that money to set my mom up to take care of her and now they're telling me that the money that was set aside is for insurance and taxes on the property for her life expectancy which we weren't told so the problem is the money that we were originally promised to get in to this reverse mortgage we don't get because it's being saved for the remainder of the loan for her property tax and insurance but we weren't told that or we would not have done the reverse mortgage so I would like someone to contact me because I believe this is against the law and I believe that there should be some form of something thank you

  Business Response

  Date: 09/12/2022

  Hello,
  

  AAG would like to request an additional ten (10) day extension, as we complete our research/response into BBB Complaint ***********.

• Initial Complaint

  Date:08/15/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My wife and I took out a reverse mortage loan that closed June 2022. We started the process last year in 2021. We were working with, ********************************* as our agent. It was a terrible process with many delays and unanswered phone calls. We were given a good faith estimate early on. It said that we were entitled to over ********* as a lump sum. We were to receive this as a cash lump sum along with our property taxed and homeowners' insurance paid every month. We had several GFEs after that first one. All of them showed we would receive over ********* lump sum. We had several home estimates done at their request. Each time the value only increased to our favor. We were told the day before closing that we were only receiving ********* as our lump sum. We were told we would have to wait 4 months before we could go to another company since we had already went this far with them, We were in financial stress and AAG knew this. We never seen another GFE that showed the final loan terms. We did not see them until the evening we closed the loan. we felt such pressure that we had to sign the contract or lose everything. They are holding over ********* dollars for the lifetime of our taxes on the home. The original amount of the loan is, 129.844.00. We had spoken to them many times that we needed the loan to do house repair and to have a little in our saving in the event of emergency. We have called them to discuss our concerns but never are contacted back. Also, they were late paying our homeowners insurance. We received a letter stating we were in danger of losing our coverage. We have never been late on that payment until they took over. We want to work this out with them but can't get them to return our calls. We need more money out of this loan. It's unfair to us as seniors to take advantage of us. They knew we were hurting financially but they did not care. We don't understand why we didn't get a final GFE before signing the final papers. Everything was so pressured.

  Business Response

  Date: 08/24/2022

  AAG is requesting an extension on this complaint.