Consumer complaint received 2020-02-11
Company: AMERICAN ADVISORS GROUP
State: IL
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Closing on a mortgage

Complaint:
AAG A PREDATORY LENDER FOR THE ELDERLY! 
To whom it may concern, I have every intention notifying the ILLINOIS Atty. Gen. AND the XXXX XXXX XXXX   and writing a letter to the XXXX XXXX & local news channel XXXX XXXX because of the predatory practices of a AG. I will tell the ILLINOIS attorney general that after five months of leading MY XXXX YEAR OLD MOTHER on this lender had no intention on giving us a reverse mortgage. We were told over and over again by the gentleman handing our account that we were finally approved and it was just a matter of time, well five months later we still don't have loan. I have all the texts of all the promises that XXXX our AAG loan professional had sent me. Countless times in my text I told him that we were going to quit because we didn't think we're going to get a lone. XXXX the AAG agent was frustrated by the underwriter too, he kept convincing us that we were already approved and they were just slow an understaffed at the time and that was not an issue of our ability to get this loan. This let us on for months and months. I have all the text that show the dates were supposed to close and XXXX convincing me not to give up because we're already pre approved. I decided to run my own credit report today XX/XX/2020 only to find that because of another hard inquiry into my credit report by AAG my credit score dropped another ninety one points because of this ill-advised inquiry that I never approved, had they told me they were going to investigate my credit report again I would've told them don't you dare. So now with two hard inquiries my credit score is dropped 180 points, my ability to get a loan for my mother and me is all but gone! this emotionally devastating process to an elderly woman has aged my mother 10 years because of the roller coaster ride an promises not kept. What's XXXX telling us we were excepted and just the way we wasted all that time we got behind in our debt now we are dead in the water with terrible credit scores and nothing to show for. This practice should not be allowed especially for the elderly my mother is beside yourself I've washed your decline every time I walked in the room and told her they want more debt paperwork add me three years of tax returns wasn't enough they had to keeps streaming along and then checking my credit again not you down 98 points was the last straw. I speak to you is a client of a AAG whose credit was ruined by them because of their lies and falsehoods whose mother 's health has declined because of them and just want to warn anyone over the age of XXXX that if they really need the money and they're getting all excited about getting it don't get too excited. If you have a weakened condition I don't recommend a AAG it will run you through the ringer because you've more hardship than you already have. It's amazing to me Credit score and ability to collect income especially because in two months I will easily be able to make my reverse mortgage payment if I choose to do so and I'll still be collecting Social Security and also I have a pension  on the way and a 401 ( k ) needless to say I'll be making as much money in retirement this I make now. Maybe this is a blessing in disguise with this is a warning not to use a AG five monsta wait to be told you're not getting along to have your credit ravished seems like a very risky endeavor for someone looking to spend some decent years later lifeForget about AAG they have ruined my family and nearly killed my mother. 

PS I know you're thinking this guy is full of beans and XXXX never get on air for in print! To this I say go ahead and XXXX  my name, I have over 17 XXXX in print, and don't forget I'm a XXXX XXXX  in XXXX and all my fellow XXXX  brothers work at the new stations in this town either as editors, floor directors, playback operators, technical directors, roving reporters. And they're always looking for a good story! I want my credit inquiry for the XX/XX/2020, removed from my credit report.

Company public response: Company believes the complaint is the result of a misunderstanding
Company response to consumer: Closed with explanation