American Advisors Group Popular actor Tom Selleck has been named the spokesperson for reverse mortgage lender American Advisors Group.

On August 1, 2016, American Advisors Group (AAG), the leading reverse-mortgage lender, announced the premiere of its new television commercial campaign naming Selleck as the company's new national spokesperson following the death of Fred Thompson, their previous spokesperson.

AAG will continue to operate, but as a part of Finance of America, the companies said.

These materials are not from HUD or FHA and were not approved by HUD or a government agency. *Finance of America Reverse LLC does not do business as American Advisors Group/AAG in Nevada and New York.

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today filed a complaint and proposed consent order alleging that American Advisors Group (AAG) used inflated and deceptive home estimates to lure consumers into taking out reverse mortgages.

Selleck Says: A Reverse Mortgage Turns Your Home Equity into Cash That You Pay Off When You Leave the House. 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.

Specifically, the CFPB alleges that AAG: Deceptively inflated home values: In marketing their reverse mortgage products, AAG provided consumers with inflated estimates of home values to entice them to enter into negotiations to open a reverse mortgage.

During the Vietnam War, Selleck was issued draft orders. To take some measure of control over the situation, he joined the California National Guard in the 160th Infantry Regiment. He served from 1967-73. He later appeared on California National Guard recruiting posters.

On Dec. 6, 2022, FOA announced it would acquire the majority of AAG's assets, comprised largely of residential reverse mortgage loans and mortgage servicing rights, and certain liabilities, for approximately $48 million in FOA shares and $10 million in cash.

A big downside to reverse mortgages is the loss of home equity. Because you're not paying down your reverse mortgage balance, you'll make less profit when you sell, or limit your borrowing power if you need a new loan. You'll pay high upfront fees.

Luckily, AAG is one of the most reputable reverse mortgage lenders in the industry. The company has over 5,000 Trustpilot reviews that average 4.6 stars.

Clint Eastwood is an iconic Hollywood actor known for movies such as Heartbreak Ridge, Million Dollar Baby and Gran Torino. He has also produced and directed many famous films, including the Oscar winning film, American Sniper. Eastwood served in the U.S. Army during the Korean War.