AAG reverse mortgage lenders require an fha appraisal. Afterward they try to find fault with the appraisal to lower the value of the home. That way they can loan the home owner far less than the true value as a greed induced business operates. Unfortunately many elderly do not recognize this unethical practice and are convinced that this is an industry standard Personally, aag required my home to be compared to a mobile home sale to attempt to
drive the Value lower. Our home is not a manufactured home. All my questions are answered with blame to some other entity, i.e. The appraiser is at fault and the broker is at fault. Not to mention hud and fha are at fault. Discussion with the company is like speaking to a kindergartner. No wonder reverse mortgages have such a stigma Associated with them. They truly try to take advantage of the elderly population.
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