2010-12-15 — wsj.com
"The call for increased oversight comes as the market for reverse mortgages is poised for expansion as the baby-boom generation retires. Meanwhile, lenders are aggressively marketing reverse mortgages, tapping celebrities such as actor and former U.S. Sen. Fred Thompson as spokesmen and holding seminars at senior centers to sell the loans."
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mdaccess at 10:48 2010-12-16 said:
These actors either are very ignorant, have no morals, or have no parents, family or friends that actually worked their whole lives paying into a system and building assets for retirement. If someone showed these half-wits what the numbers really look like and explained what the elderly face by obtaining one of these loans, they'd never lend their names to such a horrible product. These reverse mortgages have been around since at least 1974 and never gained popularity because they were such ripoffs. Perhaps a reverse mortgage exists today that has some benefit, however I have yet to find it. These actors are all has-beens and what we are really seeing are their true characters. Shame on you Mr. Winkler, Mr. Thompson, and Mr. Wagoner. Your parents would be proud! Permalinkadd a comment | go to forum thread
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