Reverse Mortgage Facts

The booming senior population – and some advertising spots by actor Tom Selleck – are part of the reason reverse mortgages are popular again.

When Selleck talks, people listen. Lately, the star of “Blue Bloods” and “Magnum P.I.” has been talking about reverse mortgages.

Don’t worry, he says in a commercial. Reverse mortgages can be an answer to your financial prayers.
“It’s not another way for banks to get your house,” Selleck says. “And it’s also not too good to be true.”

That’s easy to say when you have an estimated worth of $45 million like Selleck, but thousands of Americans who aren’t TV stars have different ideas.

The industry is steeped in promises, controversy and cautionary tales. If you’re considering getting a reverse mortgage, the best way to ensure a happy story is to educate yourself.

Business is booming at places like American Advisor Group, or AAG. The company that Selleck endorses has seen its revenue triple from $63 million in 2012 to $216 million in 2016.

So yes, when Selleck talks, people reverse mortgage.


Reverse Mortgage Facts
Location: United States

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