Phear The Reverse Mortgage Salesman!

Discussion in 'General Discussion' started by Synthaholic, Oct 20, 2010.

  1. Synthaholic
    Offline

    Synthaholic Platinum Member

    Joined:
    Jul 21, 2010
    Messages:
    35,595
    Thanks Received:
    5,032
    Trophy Points:
    1,130
    Location:
    Kicking PoliticalChic's ass up & down the forum
    Ratings:
    +8,873
    Can I stop Phearing Tha Phred? [​IMG]



    Law & Order: Mortgage Victims Unit (Starring Fred Thompson)

    The actor/presidential wannabe's latest role: pitchman for a company charged with preying on the elderly.

    — By Andy Kroll

    For six years, former presidential hopeful Fred Thompson played Arthur Branch, the gruff, straight-shooting district attorney in the television series Law and Order. Thompson's character had an unflinching commitment to the letter of the law. The same can't be said for a firm that Thompson has been pitching for lately in TV ads: a mortgage company that's landed in hot water in a half-dozen states for allegedly preying on elderly Americans and, in some cases, violating state law.

    This spring, Thompson, a jowly ex-GOP senator from Tennessee, signed on to serve as the national spokesman for American Advisors Group (AAG). In an ad for the company, Thompson stands in front of a charming white house with an American flag flying out front and sings the praises of a lesser-known mortgage product called a reverse mortgage: "Join hundreds of thousands of other Americans who have used a reverse mortgage as a safe, effective financial tool," he implores viewers.

    Thompson's new employer, however, has a troubled track record. Regulators in Florida, Illinois, Maryland, Massachusetts, Virginia, and Washington State have cracked down on the firm for deceptive marketing and consumer fraud. In February, for instance, the Illinois attorney general, Lisa Madigan, sued AAG and its president for direct-mail solicitations that Madigan described as "extremely misleading." That same month, the state of Massachusetts temporarily banned the company from doing business in the state.

    *snip*​

    More at the link, including Thompson's other shady spokeman deals.

    You Regressives sure know how to pick 'em! :lol:
     
  2. Synthaholic
    Offline

    Synthaholic Platinum Member

    Joined:
    Jul 21, 2010
    Messages:
    35,595
    Thanks Received:
    5,032
    Trophy Points:
    1,130
    Location:
    Kicking PoliticalChic's ass up & down the forum
    Ratings:
    +8,873



    Holy shit! 34 views and nobody is gonna comment on how the 'Ultra-Conservative', Just What America Wants, Second-Coming Of Reagan - Fred Thompson - is now a TV pitchman for a company with a shady past, ripping off the elderly?

    Are you Regressives that morally bankrupt?
     
  3. loosecannon
    Offline

    loosecannon Senior Member

    Joined:
    May 7, 2007
    Messages:
    4,888
    Thanks Received:
    263
    Trophy Points:
    48
    Ratings:
    +264
    Tho I couldn't give a shit about the Fred Thompson role in this, and it seems to have already been revealed as a scam, I would bet both my nuts, both eyes and one ear that this reverse mortgage idea has legs.

    It's like Lotto in reverse, and every bit as reasonable and sensible as Lotto or the derivatives trade, or even investing your 401K funds into the stock market.

    Plus it will find it's share of willing participants once the big banks design an airtight legal industry around it.

    We will be a nation of paupers and slaves before you know it with this kind of entrepreneurialism at play.

    BEST THREAD TODAY!
     
  4. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    I guess Thompson IS a true conservative after all.
     
  5. Missourian
    Offline

    Missourian Gold Member

    Joined:
    Aug 30, 2008
    Messages:
    16,281
    Thanks Received:
    4,799
    Trophy Points:
    280
    Location:
    Missouri
    Ratings:
    +8,124
    Everyone is a victim.

    Here is a novel idea (for liberals)...don't sign anything unless you have read and understand it.
     
  6. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    Yeha well older folks are easier to confuse and not as familiar with modern finiancing and such as younger folks.
    They need more protection to keep the profit vultures from picking their bones clean.
    It is no coincidence that FL is a scam artist haven.
     
  7. Synthaholic
    Offline

    Synthaholic Platinum Member

    Joined:
    Jul 21, 2010
    Messages:
    35,595
    Thanks Received:
    5,032
    Trophy Points:
    1,130
    Location:
    Kicking PoliticalChic's ass up & down the forum
    Ratings:
    +8,873
    Plus, I know of $600 non-refundable charges to get them to inspect and OK your house. If they don't like it, they are not obligated to give you a RM, and you lose the $600.
     
  8. Revere
    Offline

    Revere BANNED

    Joined:
    Jan 23, 2010
    Messages:
    7,427
    Thanks Received:
    415
    Trophy Points:
    0
    Location:
    Watching you in my profile page
    Ratings:
    +415
  9. Revere
    Offline

    Revere BANNED

    Joined:
    Jan 23, 2010
    Messages:
    7,427
    Thanks Received:
    415
    Trophy Points:
    0
    Location:
    Watching you in my profile page
    Ratings:
    +415
    That's no different from any other mortgage, but some lenders do eat that.
     
  10. uscitizen
    Offline

    uscitizen Senior Member

    Joined:
    May 6, 2007
    Messages:
    45,941
    Thanks Received:
    4,791
    Trophy Points:
    48
    Location:
    My Shack
    Ratings:
    +4,807
    It is permitted by the govt. Not sure if it is really a govt program or not.
    Who makes money from it?
     

Share This Page