Tom Selleck Reverse Mortgage AAG Commercial and the Truth About Reverse Mortgages

Tom Selleck's reverse mortgage commercial for American Advisors Group (AAG) has sparked a lot of interest in reverse mortgages.

Reverse mortgages are a type of loan that allows homeowners to borrow money using the equity in their home as collateral. They are typically available to homeowners 62 years or older.

One key aspect of reverse mortgages is that they don't require monthly mortgage payments. Instead, the loan plus interest is repaid when the homeowner sells the property or passes away.

Tom Selleck appeared in numerous commercials for AAG, promoting reverse mortgages as a simple and risk-free way to utilize home equity. He was chosen as the spokesperson because of his relatable and trustworthy image.

The commercials featured Selleck speaking directly to the viewer, reassuring them that a reverse mortgage is not a way for the bank to get their house, but rather a loan that allows homeowners to stay in their own home while utilizing their home's equity.

Tom Selleck's commercials for AAG, American Advisors Group, came under fire for false advertising. The company's ads featured the actor speaking directly to viewers, reassuring them that reverse mortgages were a simple and risk-free way to access their home's equity.

Reverse mortgages are loans offered to people 62 or older, allowing them to draw on their home's equity. AAG's commercials claimed these loans were not a way for the bank to get their house, but that's not entirely accurate.

The Consumer Financial Protection Bureau accused AAG of misleading people with its advertising, promoting the loans as essentially risk-free. This is a serious issue, as it can lead to vulnerable populations making uninformed decisions.

AAG agreed to pay a $400,000 fine, but did not admit or deny the findings. This fine is a consequence of the company's actions, and it's a reminder that false advertising has real-world consequences.

American Advisors Group (AAG) has launched a new reverse mortgage commercial campaign starring Tom Selleck as its national spokesperson.

The commercials began running across cable and national networks including ABC, NBC, and CBS, with the first spot airing as a :120 second ad entitled "Too Good to be True".

AAG collaborated with agency partner Siltanen & Partners Advertising on the new campaign, taking a fresh new approach that is visually more dramatic and compelling than past commercials.

The company has also debuted a new tagline, "Bringing Stability to Your Retirement", and created a new comprehensive information kit that explains how home equity may be used in retirement planning.

Teague McGrath, chief creative officer for AAG, stated that the new spots featuring Tom Selleck connect extremely well with the camera, straight into America's living rooms.

The commercials are designed to correct common misperceptions about reverse mortgage loans and explain why home equity should be considered as another source of income in the retirement planning process.

According to Reza Jahangiri, chief executive officer for AAG, the traditional approach to retirement planning is likely not enough for the more than 55 percent of Americans whose primary asset is home equity.

AAG is the nation's leader in reverse mortgage lending, with an A+ rating by the Better Business Bureau and a 96% customer satisfaction rating.

Tom Selleck's role as the spokesperson for AAG's reverse mortgage commercials began in 2016, when the company announced he would be their new national spokesperson.

He has been a welcome guest in American households for nearly 50 years, and his credibility and stature have helped AAG connect with older homeowners.

The actor appears relatable in the commercials, making his messages across in a way that resonates with his audience.

Tom Selleck said he was pleased and proud to be working with AAG, and that he was sparked to learn more about reverse mortgages by Fred Thompson.

The company's CEO, Reza Jahangiri, stated that Tom Selleck was the perfect choice to partner with, as older people trust and connect with him.

As the spokesperson, Tom Selleck has been featured in several commercials for AAG, explaining how home equity can be used in retirement planning.

The new campaign, which debuted in 2016, includes a fresh new marketing strategy to correct common misperceptions about reverse mortgage loans.

Tom Selleck has been a strong supporter of AAG, even when controversies arose, and has continued to defend reverse mortgages in ads.

He has stated that reverse mortgages are not a way to take advantage of seniors, but rather a loan designed to help older homeowners.

Tom Selleck is the new national spokesperson for American Advisors Group (AAG), a leading reverse mortgage lender.

AAG has a 96% customer satisfaction rating and is a proud member of the National Reverse Mortgage Lenders Association (NRMLA).

Reverse mortgages are loans designed for older homeowners, which can help fund their retirement needs. Tom Selleck says, "It’s just a loan designed for older homeowners, and it’s helped over a million Americans."

However, numerous people who got a reverse mortgage faced foreclosure and homelessness. Thousands of people risked losing their homes, according to Naples Daily News.

Loan officers have been accused of making up the rules as they go along, and mailing in a card that says you live in the home is not in the mortgage papers. Attorney Lynn Drysdale revealed that she has represented clients who had cases "in which the foreclosure was unwarranted".

AAG's new marketing strategy aims to correct common misperceptions about reverse mortgage loans and explain why home equity should be considered as another source of income in the retirement planning process.