Who does the ads for reverse mortgages?
spokesman Tom Selleck
American Advisors Group (AAG) announced on Monday the rollout of a new television commercial featuring spokesman Tom Selleck, crafted on the heels of a survey the company spearheaded in which respondents shared an overwhelming desire to age in place.
Does Tom Selleck get paid for reverse mortgage commercials?
Yes, Tom Selleck is a Paid Spokesman. Lesser known celebrities such as Bill Medley from the Righteous Brothers did a reverse mortgage commercial and so did 1950’s pop singer Pat Boone.
How does a reverse mortgage get paid back?
The most common method of repayment is by selling the home, where proceeds from the sale are then used to repay the reverse mortgage loan in full. Either you or your heirs would typically take responsibility for the transaction and receive any remaining equity in the home after the reverse mortgage loan is repaid.
Do banks handle reverse mortgages?
There are still many banks that offer reverse mortgages. They include FirstBank, Quontic Bank, M Bank, The Federal Savings Bank, Townebank, Goldwater Bank and many more.
What company does Tom Selleck advertise for?
American Advisors Group
On June 1, 2016, American Advisors Group (AAG), announced Emmy and Golden Globe award-winning actor Tom Selleck as its national spokesperson. What is AAG’s mission?
What reverse mortgage company does Tom Selleck?
“Home Equity Chair” Airing Now Orange, Calif. (September 8, 2016)–American Advisors Group (AAG), the leading reverse mortgage lender in the nation, this week launched its latest television commercial starring Emmy and Golden Globe award-winning actor Tom Selleck.
How much does Tom Selleck make on his commercials?
Tom Selleck makes roughly $200,000 per episode for Blue Bloods.
Why are reverse mortgages so bad?
Reverse mortgages come with higher fees than most traditional loans, and borrowers are also faced with mortgage insurance costs up to 2.5% of the home value. What’s more, most reverse mortgage terms require borrowers to stay on top of property taxes, homeowners insurance and maintenance costs to avoid default.
Is a reverse mortgage really worth it?
The high costs of reverse mortgages are not worth it for most people. You’re better off selling your home and moving to a cheaper place, keeping whatever equity you have in your pocket rather than owing it to a reverse mortgage lender.
What are the best reverse mortgage plans?
If you have a home of average value, then the Home Equity Conversion Mortgage (HECM) is probably the best reverse mortgage for you. The HECM is — by far — the most popular reverse mortgage loan and the one that is guaranteed by the federal government and administered by the Department of Housing and Urban Development (HUD).
What do banks do reverse mortgage?
A reverse mortgage home loan is a credit product type of equity release product (ERP), where your loan is based on how much you own of your home (the equity). In a reverse mortgage, the bank lends you a portion of the house’s value, using the house as security. Some common features of a reverse mortgage include:
Are reverse mortgages legitimate?
Legitimate Reverse Mortgages. The vast majority of reverse mortgages are legit. The part that seems like a scam is that they are aggressively sold to the wrong people. Since reverse mortgages are only available to older people, it can seem particularly predatory toward the elderly.