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.
Another trigger is leaving the home for an extended period of time. I’ve read of cases where the reverse mortgage holder was in the hospital for a long time (more than a month). That triggered the sale of the home.
I believe laws have since been passed to prevent that sort of thing. But other time triggers still exist.
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