Irvine, Calif. (January 27, 2022) – American Advisors Group (AAG), the nation’s leader in home equity solutions, today announced its partnership with Bestbath, the world’s leading manufacturer of bathing products for people of all abilities. Bestbath products are designed to be functional and beautiful, but also be easily modified as needs and abilities change. The partnership allows Bestbath dealers to connect customers with AAG to help them understand options for accessing their home equity to fund important bathroom modification projects.
“National Bathroom Safety Month is the perfect time to announce our partnership with Bestbath,” said Jesse Allen, AAG Executive Vice President of Alternative Distribution. “This partnership is naturally aligned with AAG’s core mission of helping seniors. Only three percent of older Americans have homes that are safe enough for seniors to live in long term and one of the major areas of concern is the bathroom, especially for those with balance and mobility issues. This partnership is an excellent opportunity to address that hazard in the homes of the senor community.”
AAG’s products allow seniors to responsibly access their home equity to make home modifications needed to remain in their home long term. All AAG borrowers are of course required to live in the home as their primary residence and continue to pay their property taxes, home insurance, and comply with the terms of their loan.
The idea for the partnership was born out of the need to help the large population of Baby Boomers prepare for their later years. According to a recent AAG study, over 80% of seniors wish to live in their home for the rest of their lives, but the vast majority do not have homes equipped for the journey. In fact, according to the CDC, each year 3 million older Americans are treated for emergency injuries due to falls and over 800,000 are hospitalized at an estimated cost of over $50 billion. AAG believes this issue can be countered with the responsible use of home equity to help seniors fund their home safety and preparedness projects.
“We’re excited to add AAG as a partner and are eager to share the awareness that home equity can play in making a home and bathroom safer,” said Robert Gurinowitsch Bestbath Eastern US Program Manager. “Everyone is unique and AAG can help our dealers and customers fund the bathroom safety solutions they need.”
In the agreement, Bestbath dealers will now be able to connect their senior customers directly with AAG loan officers in their local area. These loan officers will work in-person with each individual client and their families to discuss the financing options they have available to fund bathroom modifications unique to their situation. As part of the partnership, AAG will also provide Bestbath dealers with educational material about home equity usage and will take part in industry related events.
AAG’s partnership with Bestbath is another step in ensuring that seniors have access to the best resources available for their later years. A multi-tiered approach, coupled with existing requirements for HUD approved 3rd party counseling as a part of the reverse mortgage process, provides seniors with industry-best practices when working with service companies who provide home modification.
To find out more about the AAG/Bestbath partnership Bestbath dealers can call (855) 288-0546 or email: VGM@aag.com
As a world-leading manufacturer of bathing products, we believe that bathrooms can be as functional as they are beautiful. By creating quality products, we strive to make bathrooms safer for everyone. For more information, visit www.bestbathshop.com.
AAG, now a division of Finance of America Reverse (FAR), continues its dedication to helping older Americans find new ways to fund a better retirement through the responsible use of home equity. AAG offers a suite of home equity solutions — including Home Equity Conversion Mortgages and proprietary reverse mortgages, that are designed to give seniors a better financial outcome in retirement. Following the asset acquisition of AAG by FAR in April 2023, FAR and AAG together make up one of the largest reverse mortgage companies in the US. The company is licensed nationally (NMLS #2285) and is a proud member of the National Reverse Mortgage Lenders Association (NRMLA). For more information about AAG, please visit www.aag.com.
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