Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Tom Selleck Faces Backlash for Promoting Reverse Mortgage Ad
The International News ^

Posted on 05/13/2025 3:31:29 PM PDT by nickcarraway

Tom Selleck has recently faced backlash for promoting reverse mortgage scheme.

A source spilled to Radaronline.com that the Blue Bloods actor’s fans found his TV ads misleading.

“A lot of people who used to look up to Tom think it's despicable he's the spokesperson for a reverse mortgage lender that is seen as preying on the elderly,” said an insider.

The source pointed out, “It's all well and good for him to preach – but he still makes huge paychecks and lives on a 63-acre ranch in California, so what would he know about hardship?”

“The feeling is that the financial products he's pushing are a good way to lose your home,” revealed an insider.

The Magnum P.I. actor helped seniors retire to the life they had dreamed of with mortgage scheme advertisements.

“In my mind, retirement is all about spending more time with the ones you love and more time to enjoy what you've earned,” mentioned the actor.

However, unfortunately, Tom told viewers, “Many older Americans just don't have the money to do all that.”

He explained, “What people don't realise is your biggest asset might very well be your home, and using your home's equity with a reverse mortgage loan from AAG could play a vital part in funding your retirement, not to mention give you the cash to cover all those bills that seem to come out of nowhere.”

An insider further said, “Clearly, Tom doesn't see what the fuss is about.”

“But it hasn't gone down well with the people who watched his shows. They think he has no integrity,” added a source.


TOPICS: Business/Economy; TV/Movies
KEYWORDS: mortgages; tomselleck; tv
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061 next last
To: cgbg

California Pines-ghostown.

Eric Estrada.


41 posted on 05/13/2025 6:32:45 PM PDT by DIRTYSECRET
[ Post Reply | Private Reply | To 40 | View Replies]

To: nickcarraway

Selleck is seen as somewhat conservative so he is to be attacked relentlessly.


42 posted on 05/13/2025 6:34:15 PM PDT by Some Fat Guy in L.A. (Still bitterly clinging to rational thought despite its unfashionability)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

He has been promoting RM for at least a dozen years or more and now they are complaining?


43 posted on 05/13/2025 6:35:01 PM PDT by CaptainK ("No matter how cynical you get, it is impossible to keep up” )
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

Good grief, he’s been doing this for years.


44 posted on 05/13/2025 6:45:59 PM PDT by ealgeone
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

He’s been doing these ads for years and years.

And people are upset now?


45 posted on 05/13/2025 6:52:43 PM PDT by vladimir998 ( Apparently I'm still living in your head rent free. At least now it isn't empty.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Dr. Sivana
They are simply another financial vehicle, like a life insurance annuity.

Another expensive high fee financial vehicle for those with substandard retirement plans

Reverse mortgage-- why not??

One point against is the real risk of losing one's home by failing to keep up with required payments to maintain the home, basically living too long and the front money has run out so nothing left to pay taxes and maintenance.
46 posted on 05/13/2025 6:52:47 PM PDT by af_vet_1981 ( The bus came by and I got on, That's when it all began.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Steely Tom

He’s been doing the reverse mortgage commercials forever. At least about 10 years, I think.


47 posted on 05/13/2025 7:03:09 PM PDT by MayflowerMadam (It's hard not to celebrate the fall of bad people. - Bongino)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Fledermaus

“Haven’t seen one in a long time.”

I see them every day. Must be in Newsmax ‘cause that’s about all we watch.


48 posted on 05/13/2025 7:04:38 PM PDT by MayflowerMadam (It's hard not to celebrate the fall of bad people. - Bongino)
[ Post Reply | Private Reply | To 8 | View Replies]

To: Leaning Right
Great link! Thanks! 👍

I recommend that link to anyone who wants a Cliff's Notes overview of what's involved with reverse mortgages. I learned quite a bit.

49 posted on 05/13/2025 7:05:25 PM PDT by Governor Dinwiddie ( O give thanks unto the Lord, for He is gracious, and His mercy endures forever. — Psalm 106)
[ Post Reply | Private Reply | To 34 | View Replies]

To: MayflowerMadam
He’s been doing the reverse mortgage commercials forever. At least about 10 years, I think.

Didn't know that !

50 posted on 05/13/2025 7:07:09 PM PDT by Steely Tom ([Voter Fraud] == [Civil War])
[ Post Reply | Private Reply | To 47 | View Replies]

To: MotorCityBuck

“Toms alright in my book.”

In the ‘80s, I had a picture of him in my office — the famous one of him in the red Hawaiian shirt.

I went on vacation and a temp filled in for me. She mentioned to someone that I sure had a handsome husband. LOL!


51 posted on 05/13/2025 7:10:26 PM PDT by MayflowerMadam (It's hard not to celebrate the fall of bad people. - Bongino)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Steely Tom

Per AI: “Tom Selleck began starring in commercials for the reverse mortgage lender, American Advisors Group (AAG), in June 2016.”


52 posted on 05/13/2025 7:24:59 PM PDT by MayflowerMadam (It's hard not to celebrate the fall of bad people. - Bongino)
[ Post Reply | Private Reply | To 50 | View Replies]

To: nickcarraway

A good book on using reverse mortgages

Reverse Mortgages: How to use Reverse Mortgages to Secure Your Retirement (The Retirement Researcher Guide Series) Paperback – February 24, 2022
by Wade D. Pfau Ph.D. (Author)

I have three scenarios where I might use it as a tool:

1. If SS benefits are cut, I might use a reverse mortgage to pay me the amount of the cut so that I have the same fixed income coming in so that I wouldn’t need to deplete my portfolio faster than planned.

2. If a prolonged market downturn. This is called the sequence of return risk. Instead of drawing on a portfolio that is down and selling stock too low, I would use the reverse mortgage instead.

3. One of us needs nursing home care and the SS income is going to nursing home. The reverse mortgage can make up the shortfall.

These are possible backup plans that a reverse mortgage can provide as part of my retirement planning.

Even though the initial expense is high, the potential use to keep other money invested may offset those expenses.


53 posted on 05/13/2025 7:59:32 PM PDT by Raycpa
[ Post Reply | Private Reply | To 1 | View Replies]

To: nickcarraway

Most critics are GenX-zoomer kids who will not inherit the house, and will thus never own a home in the crapworld their parents helped create.


54 posted on 05/13/2025 8:14:23 PM PDT by Captainpaintball (America needs a Conservative DICTATOR if it hopes to survive. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: Captainpaintball

Gen X?


55 posted on 05/13/2025 10:50:17 PM PDT by nickcarraway
[ Post Reply | Private Reply | To 54 | View Replies]

To: MayflowerMadam

😄👍


56 posted on 05/14/2025 3:41:49 AM PDT by MotorCityBuck (Keep the change, you are filthy animal !!)
[ Post Reply | Private Reply | To 51 | View Replies]

To: DesertRhino

I get that.
If his own family does not like him.
He will always have his TV family.😉


57 posted on 05/14/2025 3:43:42 AM PDT by MotorCityBuck (Keep the change, you are filthy animal !!)
[ Post Reply | Private Reply | To 15 | View Replies]

To: nickcarraway

Kind of late. His adds for reverse mortgages have been running for 10 or 15 years now. ortg


58 posted on 05/14/2025 4:21:28 AM PDT by Freedom_Is_Not_Free (America -- July 4, 1776 to November 3, 2020 -- R.I.P.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Leaning Right
There are instances where the reverse mortgage company can take your home before you die.

If you fail to maintain the home, fail to pay property taxes, fail to keep up your homeowners insurance, or allow liens to be filed against the property, the bank can call the loan due and payable. That forces a sale or exposes you to foreclosure.

59 posted on 05/14/2025 11:12:33 AM PDT by JimRed (TERM LIMITS, NOW! Finish the damned WALL! TRUTH is the new HATE fSPEECH! )
[ Post Reply | Private Reply | To 34 | View Replies]

To: Dr. Sivana

Reverse mortgages are not a good situation to be in but people have too much time on their hands if they are getting upset with Tom.


60 posted on 05/14/2025 11:15:24 AM PDT by Vision (“Our Democracy” means "Our Slush Fund." The Left is hate.)
[ Post Reply | Private Reply | To 2 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson