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.

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.

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.

On June 1, 2016, American Advisors Group (AAG), announced Emmy and Golden Globe award-winning actor Tom Selleck as its national spokesperson.

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.

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.

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.

“I am as proud of my sexual preference as those who happen to be gay are of theirs,” Selleck said in a statement. “There is not a man who has lived on the face of the Earth in my lifetime who can truthfully deny what is so obviously my choice; that is, that I am singularly heterosexual.”

This is not the first time Selleck has had to battle rumors about his health. The Daily Star reported that people have claimed he has “crippling arthritis,” which has even affected his vision. His rep also denied this claim, saying Selleck is in “excellent health.”

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.

There are several types of reverse mortgages, the most common being home equity conversion mortgages, or HECMs, which are insured by the federal government. Reverse mortgages can be expensive, compared to other types of loans. They can also put the borrower at risk of foreclosure and losing their home in certain cases.

If you're a homeowner age 62 or older, a reverse mortgage can help you obtain tax-free income based on the equity in your home. A reverse mortgage might give you more flexibility in retirement and allow you to stay in your home.