Table of Contents
- 1 Does Tom Selleck have a reverse mortgage with AAG?
- 2 Is AAG legitimate?
- 3 Is AAG part of AIG?
- 4 Are reverse mortgages predatory?
- 5 How good is AAG reverse mortgage?
- 6 Can a family member take over a reverse mortgage?
- 7 Is Tom Selleck pitching a reverse mortgage on a TV commercial?
- 8 What are the most common misconceptions about a reverse mortgage?
Does Tom Selleck have a reverse mortgage with AAG?
AAG Introduces Latest Commercial Featuring 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.
Is reverse mortgage a ripoff?
All in all, reverse mortgage scams are intended to steal a homeowner’s equity, leaving them with little left in the home and potentially putting them in danger of losing the property. Reverse mortgages are complex loans, making them the perfect product for a scam.
Is AAG legitimate?
Since its inception, AAG has become fully accredited with the Better Business Bureau and won numerous awards, most recently the BBB’s Torch Awards for Ethics in December of 2019. AAG originated 12,000 of the 49,000 new reverse mortgages insured by the FHA.
Why Are reverse mortgages a bad deal?
Reverse mortgage proceeds may not be enough to cover property taxes, homeowner insurance premiums, and home maintenance costs. Failure to stay current in any of these areas may cause lenders to call the reverse mortgage due, potentially resulting in the loss of one’s home.
Is AAG part of AIG?
American Advisors Group (AAG) is an American reverse mortgage lender….American Advisors Group.
| Founded | Irvine, California, USA (2004) |
|---|---|
| URL | www.aag.com |
What is the real truth about reverse mortgages?
Most reverse mortgage borrowers use the funds for paying for basic needs in retirement. Reverse mortgages generally are not used for vacations or other “fun” things. The truth is that most borrowers use their loans for immediate or pressing financial needs, such as paying off their existing mortgage or other debts.
Are reverse mortgages predatory?
Adding to the debate, a USA TODAY Network investigation published this week found that the industry has become a platform for predatory lending. The investigation found that nearly 100,000 reverse mortgages had defaulted in recent years, with low-income urban neighborhoods hardest hit.
Is AAG a good company for reverse mortgage?
AAG is a member in good standing as a reverse lender with the National Reverse Mortgage Lenders Association (NRMLA) and continues to get outstanding reviews from its customer base. This is a testament to the company’s supportive customer service environment.
How good is AAG reverse mortgage?
Unlike most other reverse mortgage lenders, we were able to find a high volume of customer reviews on the Internet. A majority of AAG customer reviews are positive, working out to be about 4-4.5 stars.
What is the truth about reverse mortgages?
Can a family member take over a reverse mortgage?
Unfortunately, however, you can’t add a family member to an existing reverse mortgage.
Is AAG a good reverse mortgage company?
Is Tom Selleck pitching a reverse mortgage on a TV commercial?
It boils down to the saying “if it’s too good to be true, then it is “I watched this actor named Tom Selleck pitching for reverse mortgage on a tv commercial. Sounds very convincing even to the point of him swearing to have done his homework on the matter and telling the truth.
Is Tom Selleck a paid spokesman?
Yes, Tom Selleck is a Paid Spokesman. Tom Selleck is a paid spokesman for another lender. Over the years there have been several notable celebritieswho have represented reverse mortgage companies including Robert Wagner, Henry “The Fonz” Winkler, former US Senator Fred Thompson, Law and Order’s Jerry Orbach to name a few.
What are the most common misconceptions about a reverse mortgage?
The most common misconception about reverse mortgages is that you are eligible to borrow all of your home equity or even the full value of your home. This is not true. You are only eligible to borrow a portion of your home equity.
Are reverse mortgages a good idea?
So, reverse mortgages may not be a simple idea, but one worth investigating. This statement can be a little bit misleading. It is not incorrect, but not fully accurate either. Yes, the loan turns your home equity into cash. However, the amount you are eligible to use can vary greatly depending on a number of complicated factors.