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Finance of America Reverse LLC complaints

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8023 East 63rd Place
Tulsa, OK 74133 | Get Directions

(866) 615-1257

http://www.far.com

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Total Amount in Dispute:
$250,000.00

Total Amount Settled:
$0.00

Complaint Experience

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our records indicate the company failed to respond to the one complaint brought to its attention.

Complaint Closing Statistics

1 complaints against Finance of America Reverse LLC closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
0	Refuse to adjust, relying on terms of agreement
1	Unanswered

1 complaints against Finance of America Reverse LLC

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11/30/2023

RESPONSE: Complaint was not answered Amount in Dispute: $250,000.00 Amount Settled: $0.00

Customer Complaint

11/6/2023

I took this reverse mortgage because I am too sick to work. I could see I was unable to pay the high ins. and taxes. They promised me they would sit up a trust to pay them out of MY equity. Two months later I received a letter they did not pay all the taxes and then less than a year in April a tornado hit my house and I receive a letter from MY insurance company the insurance was not paid and I had no ins. to pay the damages. The loan company paid the insurance. And fraudulently covered me for the damages also they charged me for two different insurance companies. Now they have two company's paying the one claim . I told them this, but they won't correct it. I had two adjusters come out to my house to estimate one claim. This has caused me GREAT deal of stress ALL summer. We have winter and they have made demand after demand for me to do. They sent the contractor the money to start the job, but will not release anymore money to fix my house unless I pay the contractor $20,000. He left me with holes in my house and garage, fence down, holes in screens and damaged my leaf filter. There are no downspouts replaced. I tried to explain to the loan company that they need to send me the money to fix my house, but they refuse. They claim all this is my fault. I tried to put the fence up I tried to pay for it out of my money, but ended up no money for utilities and I got pneumonia from the cold. Please Help Me! Resolution Sought I want them to release my money so I can fix my house. I feel they have grossly breached the contract and I do not feel its is not fair to make me continue to do business with them. If I breached the contract they would take my house. They breach it and nothing is done. They need to give it to a component company.

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