We took out a Reverse Mortgage with AAG in 2013. We have constantly been harassed by them for years over one thing or another.
A previous review listed frequent calls; had those. The problems have become so numerous over the years, I have sent complaints to the Texas Attorney General and the Consumer Protection agency.
They have charged us for property inspections to the tune of $1500, which includes only a drive-by photo of our mailbox. The last one was $500. Most of the property inspections are one picture of our mailbox and computer generated info on "like" properties in our area. The real estate appraiser never even sees the entire property. It clearly states in their information packets, they must notify you of an inspection, but that has only happened once, and I told them no (it was harassment, and there was absolutely no need for an inspection). We have "no trespassing" signs posted, and yet numerous people hired by AAG ignore the signs, and don't call or notify us prior to these so-called inspections. One man looked like he was a homeless bum!
We had a major hail storm in the spring. AAG has been withholding payment to the contractor since July. They would not even reimburse my husband and myself for out of pocket expenses covered by the insurance! Any time the insurance check is over $10,000, it has to go to the mortgage company. Even that requirement has been a hassle.
In Texas, we can pay quarterly property taxes if we have a homestead exemption. We did last year, but AAG jumped in, paid the balance of the taxes, and even paid the wrong amount! I spoke with them and explained how we play the taxes, and now they know so they won't interfere! Not so! Today I go to pay a quarterly payment, and AAG has paid them, even after they were specifically told that is how we pay the taxes and they said that was OK as long as they know. Now we will be harassed again.
My last resort is to notify the local media and do an interview to let them know of all the problems we have encountered with AAG. I will also update the Texas Attorney General.
My advice, the reverse mortgage has allowed us to make improvements and we enjoy our home, but the hassles encountered constantly are ridiculous!
My advice, don't use AAG.
Bottom Line: No, I would not recommend this to a friend
They are shady. I put my house in my moms name in 2015 and let her do a reverse mortgage. She passed August 1st of last year. They called the day she passed demanding payment and foreclosed three months after death. We had a year to probate, and either sell the house or pay off the balance and they refused to talk to us about payment. Needless to say, I have filed a lawsuit. Stay clear of these scam artists. I have notified the FHA because under their guidelines, we had two years and they have to show proof they took every effort to avoid foreclosure for two years. It is not possible to do when they foreclosed in three months.