Complaints
This profile includes complaints for Finance of America's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 37 total complaints in the last 3 years.
- 16 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe 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:05/22/2025
Type: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.
The problems are vast. I had called ahead of time about my back taxes and had a plan to pay off before end of year, which was told by representatives that was December31, 2024. I called in October to try and get ahead of problem. I had lost my job of 8 1/2 years and income was drastically slashed. I was not sure I believed representative, because I called back to make sure, after getting letter. Then I was told it had to be paid by September 2025. I called many times and was told by **** many conflicting stories. I called supervisors and was given misinformation by them too. I told supervisors about misinformation! I had made payment of $500 to ************* FOR BACK TAXES, NOT CITY!!!! Then whoever decided they would pay amount owed and DID NOT INFORM ME OF WHAT THEY WERE PLANNING TO DO. They paid the city, NOT COUNTY; WHICH IS PROTOCOL FOR ANY STATE, which you would think THEY WOULD KNOW??? AND THE WRONG AMOUNT ON TOP OF IT!!! So it was well over 5 weeks before they admitted they had wrong amount, So I was told they were waiting for correct amount. Im still waiting and today got statement that they paid$1336.96 to ??? I guess to county which is wrong amount. The amount should have been $836.00. They did not deduct my payment. I have sent them statement from county, depicting these totals and they say they did not get??? Horrible communication! Nobody on same page. Threatening default and taking my home!!! Now on statement they are charging an ungodly amount of interest and added on, I think to loan. $4,422.93, year to date. I was told I could be on payment plan, but no mention of that now, either?? This company should have their license revoked. They took money out of my line of credit and I was totally unaware. I still dont know whats going on. They said they were waiting to get correct amount, last I heard. UNACCEPTABLE, UNACCOUNTABLE, and devastating for the borrower!!!!STILL WAITING!!!!
Business Response
Date: 05/28/2025
******** contacted wrong company. ******** notified November 2021 loan was transferred to Reverse ******************** effective 12/1/2021. We suggest borrower refer to their most recent mortgage statement to contact current servicer. Matter considered closed. Thank you.Customer Answer
Date: 06/04/2025
I did not send to wrong company. YOU DID!!!!! I put exactly the address and info from current statement!!!YOU GOT IT WRONG. Have no idea how this got to ********!!!!!!!!Initial Complaint
Date:05/13/2025
Type: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 step Father took out a loan with this company in the Fall of 2024 but passed away in March of 2025. I was on his account to receive information but they state that ended when he died. I have been called by this business for them to give me two different dates that they intent to start foreclosure proceedings. My siblings and I wish to pay the loan in full, but they refuse to give us an offical payoff. The loan was not drawn to the full amount due to the short time he had it before passing. They gave me a date of May 14th, 2025 first and then the date of September 24, 2025 later. They then told me that the May date is a soft deadline and September 24 is a firm deadline. They say legally they can start foreclosure proceedings any time after May 14th but we have until September 24th to file paperwork stating our intent. This is the most ridiculous thing I have ever heard! All this could be avoided if they would just give us a payoff. I have a loan balance via their automated system but its not the payoff amount. They sent disclosures to my Step Father in Spanish, knowing he was white and English was his primary language? I think this should qualify as predatory lending, elderly people on limited income are in need of assistance but I dont think the hassle their family goes through after their passing is fully disclosed? I asked our probate lawyer how to proceed, but they were unsure because all of their previous clients in this situation just let the house be foreclosed on. They also didnt offer my ***************************************** which they told me they were legally required to do. I think he would have paid for this as he knew we intended to keep the home, land behind the home, not included in the mortgage, will be land locked if ownership of the house and acres with it fall into ownership by others. Amount involved is approximate because they wont give me payoff.Business Response
Date: 05/13/2025
Complaint was received by Finance of America on 5/13/25. The complainant did not provide any identifying information about the borrower other than the fact that it is her stepfather. Please ask the complainant to resubmit and include the following asap so that we can research and respond to the issue in a timely manner:
Borrower Names(s)
Subject Property Address:
Loan Number:
Thank you,
Customer Relations
Business Response
Date: 05/23/2025
Please find attached herewith the response to complaint ID ******** due 5/27/25 submitted 05/23/25. Please confirm matter closed.Business Response
Date: 05/23/2025
Please find attached herewith the response to complaint ID ******** due 5/27/25 submitted 05/23/25. Please confirm matter closed.Business Response
Date: 05/23/2025
Please find attached herewith the response to complaint ID ******** due 5/27/25 submitted 05/23/25. Please confirm matter closed.Initial Complaint
Date:04/01/2025
Type: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.
All phone numbers provided never get me to an agent and just disconnect. I have emailed them and only ever gotten a system automated response saying they will get back to me with in five days but they never do. I have questions in regards to a reverse mortgage loan I have with this company and it is almost as if they are making it impossible to reach them on purposeBusiness Response
Date: 04/15/2025
Please find attached the response to complaint ID ******** due 4/15/25 sent 4/15/25.
Thank you,
Customer Relations
Initial Complaint
Date:03/11/2025
Type: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.
Parent obtained a reverse mortgage, has since passed away. This company provided an extension while we grieve and empty the house. Prior to the extension expiring, they are now sending letters to family and the estate sale company used to empty the house. Did they forget the house needs to be empty to sell? Do they not care about unexpected deaths, and how rough holidays can be when one dies unexpectedly just before the holidays. Family feels they took advantage of a senior with undiagnosed Alzheimer's or dementia, and now pressuring the family in advance of the extension expiration.Customer Answer
Date: 03/11/2025
Specific Address is:
********************************************;
Business Response
Date: 03/17/2025
Please find attached herewith the response to complaint ID ******** due 3/25/25, submitted 3/17/25.
Thank you.
Initial Complaint
Date:03/07/2025
Type: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.
I have been contacted by telephone twice and received correspondence on two occasions from Finance of America Reverse regarding a reverse mortgage that was obtained by my former brother-in-law, ***** L. ******, which is now in default. I was not a co-signer to the mortgage application, and until last week was unaware that he had obtained a reverse mortgage for the property. He tells me that he provided my name and phone number as an emergency contact because I am the only relative he has in the area. He had been married to my sister, who died in 2011. When I called Finance of America Reverse to obtain information on how I could be listed as the borrower for this loan, without even having been aware of its existence, I was told that I was not a party to the loan and was just a point of contact. I asked them to be removed as a point of contact for the loan after informing them of the anxiety I have been experiencing after having been threatened to have my property foreclosed upon, and my credit unduly harmed, they refused to do so. Im hoping you can get them to stop the harassing phone calls and correspondence being sent to me. Thank you in advance for any assistance you can provide.Business Response
Date: 03/24/2025
Please see attached response(s) mailed to the complainant and the borrower on 03/19/25 as requested. Placed follow up phone call to complainant to confirm she has been removed as a contact.Customer Answer
Date: 03/24/2025
I received a telephone call today from a complaint resolution specialist from Finance of America Reverse. She has informed me that my name is no longer associated with the account in question, and has assured me that I will not be contacted by them again.
Thank you for intervening on my behalf.
Initial Complaint
Date:01/03/2025
Type: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.
Finance of America denied me a reverse mortgage in total contradiction to their advertised requirements on their website and in complete violation of US Federal Laws concerning reverse mortgage requirements, etc.Business Response
Date: 01/16/2025
Hello,
Please see complaint response attached.
Thank you.Initial Complaint
Date:12/23/2024
Type: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.
I have a reverse mortgage being service by Finance of America, LLC. I had $7,577.50 set aside upon close to cover deck repairs/painting. I completed those repairs prior to December 4, 2024 and submitted the Homeowner Certification required document. An appraiser was sent out on December 10, 2024 to inspect the repair. He submitted a report that very afternoon signaling that repairs/painting were satisfactory. On December 12, 2024 I was informed by the ** customer service the set aside funds would be released and electronically deposited into my bank. After spending a week going back and forth over release of these funds I finally filed a request for release of funds on December 19, 2024 even though I'd never been informed I had to do so with set aside funds.This morning, December 20, 2024 I received a call alerting me that the funds had been released to my bank. Upon checking I found no funds were being processed by my bank. At this point I called {************, the department supposedly representing the transfer of funds only to be told that the funds were being processed in house, process could not be expedited and funds subject to not be release until next week. This is totally unacceptable. No one in their right mind should do business with this outfit...Business Response
Date: 01/06/2025
Please find attached complaint response due 1/6/25 submitted 1/6/25.
Thank you.
Customer Answer
Date: 01/11/2025
The set aside funds were finally released to me following my contacting Finance of America's corporate office in ***** and putting them on notice that I had contacted you plus alerting them to my intention to file a complaint with my state's ************************
The excuse they offered as to signatory discrepancy in the paperwork is a total fabrication. I was never contacted concerning my signature.
The bottom line to all business conducted by this outfit is they want to do a loan but at the same time want to withhold funds as long as possible.
Their business model is abhorrent...
Initial Complaint
Date:12/13/2024
Type: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.
Accused: Finance of America LLC.Accusser: **** *******, *************)On October 24th, 2024 I was sued for house foreclosure and was served via ****. I was not notified about the upcoming foreclosure even while staying in contact with the company through the mail and by phone. On October 29th, 2024 i submitted a repayment plan request and it was agreed upon that I pay a back the amount of $2077.77 with an initial payment beginning the repayment process of $78.77 due December 5th, 2024 which I have documentation that it was paid promptly and on time, I faxed the receipt of payment AND emailed them the same receipt to the correct department. Today, December 10th, *************************************************** default. Whenever I try and talk with them on the phone they say that a partial pre payment form was never received or agreed upon and it's like all the time, stress and energy I put towards making sure my home was safe and not up for foreclosure fell upon deaf, or I think, malicious ears. They have not tried to help me the only person who has helped is my youngest son who has been making sure I don't get taken advantage of due to my lack of technical and up to date knowledge.Customer Answer
Date: 12/16/2024
Default order received.Business Response
Date: 12/24/2024
See attached complaint response due 12/30/2024 submitted 12/24/2024. Thank you.Initial Complaint
Date:12/05/2024
Type: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.
Home Improvement Loan last 4 digits 7759. This loan was originally acquired through ***** in 2020, and was acquired by Finance of America. This loan has put a lien on our house. We are wanting to refinance our home but cannot due tot his lien. We cannot get ahold of anyone either via phone or email. We have been trying for over a week now. The phone line consistently says the call volume is too high and to call back at another time. Emails have gone unanswered.Business Response
Date: 12/17/2024
See attached complaint response due 12/19/24 sent 12/17/24. Thank you.
Initial Complaint
Date:11/26/2024
Type: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 mother died in 2017, she had a reverse mortgage with ***. So I inherited the house, I filed bankruptcy in 2019 in order to pay off the loan. Well , I paid off the loan 4/24. These people, refused to release the lien on the house until I pay them 1,700$. They over *** all most 2 years before I was finish.They claimed that I owe them for the insurance they put on the house. So, at the advice of my lawyer to go ahead and them. In June I sent ****** they received it. So, in August I sent them a cashier's check with the last ******. I sent it through *** and my lawyer sent a copy of the check and tracking #.Well, they claimed that they never received ***** October I stopped payment on that check and I to this day it hasn't been returned to me. I had to fill out paperwork at my bank and my bank gave me the same payment work to send to them. They claimed the never received it. In order for them to reissue the check they would have to fill out the paperwork and notarized it. I don't know what kind of games they are playing. I am 76 years and living on Social Security. They are still sending me statements. My lawyer also sent them a copy of home insurance. These people are crooks and should release the lien, since I've already paid off the house. My lawyer can contact them via email and then it takes them awhile to respond.Business Response
Date: 12/09/2024
From: ***** ***** <********************************************************************************************************>
Sent: Monday, December 9, 2024 4:07 PM
To: ************************************* <*************************************>
Cc: Customer Relations <**************************************************************************************************************>; ***** ***** <********************************************************************************************************>
Subject: BBB Complaint ID ******** - Green
Good afternoon, Hannah.
We are still diligently investigation the above referenced complaint and want to make sure we respond with the appropriate consideration. As such, we respectfully request a one time fifteen (15) day extension to respond to the complaint.
With your kind consideration the amended due date will be revised from December 9, 2024, to December 24, 2024. We look forward to your anticipated approval and hope you find this to be fair and equitable. Should you have any questions or concerns please feel free to contact me directly at the number below.
***** *****
Compliance Officer II
Finance of America
o: **************
********************************************************************************************************
Corporate Headquarters: ************************************************Business Response
Date: 12/24/2024
See attached complaint response due 12/24/24, submitted 12/24/24. Thank you.
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