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Thread: Damn You, Tom Selleck!

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    Damn You, Tom Selleck!

    Seniors were sold a risk-free retirement with reverse mortgages. Now they face foreclosure.

    Seniors face foreclosure in retirement after failed reverse mortgage



    Check out Tom’s view.........
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    Re: Damn You, Tom Selleck!

    What does he know about foreclosure anyway, or worrying about making his bills? Google says he only has a net worth of $45 million...
    “Your dead will live. My corpses will rise up. Awake and shout joyfully, You residents in the dust! For your dew is as the dew of the morning, And the earth will let those powerless in death come to life." Isaiah 26:19

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    Re: Damn You, Tom Selleck!

    Quote Originally Posted by Rexedgar View Post
    Seniors were sold a risk-free retirement with reverse mortgages. Now they face foreclosure.

    Seniors face foreclosure in retirement after failed reverse mortgage



    Check out Tom’s view.........
    and nothing in that article indicates the foreclosures were anything other than legitimate actions by the lenders to secure their liability thru the chattel mortgage

    the owners of the property, the loan recipients, received up to 80% of the fair market value of their homes
    they were NOT obligated to pay anything to the lender. they were obligated to maintain hazard insurance on the real property and to keep property taxes current - just like every other mortgagor - including those who have conventional, non-reverse, mortgages

    the owners died, if the family does not pay ff the mortgage balance, then the house goes into foreclosure
    what is wrong with that approach?
    if the mortgagor fails to pay property taxes, the home is subject to foreclosure by the tax collector, which collector has a claim paramount to the mortgagee
    so, what is so unreasonable for the mortgagee to expect the mortgagor to pay their taxes?
    if the mortgagor fails to maintain property insurance on the home and it suffers a calamity of flood, fire, mudslide, etc., then the mortgagee has lost much of its collateral value
    why is it unreasonable for the mortgagee to expect such hazard insurance coverage to be maintained?

    from that article, the persons responsible for the foreclosure were those who failed to comply with the terms of the mortgage. just like anyone else who defaults on the loan covenants, that subject the property, the collateral of the underlying loan, to foreclosure action
    so, why is it that they are presented as the victims and the mortgagees as villians in that article?
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    Quote Originally Posted by bearpoker View Post
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    Re: Damn You, Tom Selleck!

    When a celeb is offered more than $1 mil dollars to promote reverse mortgages media ads/commercials and all he/she has to do is to move around while reading the teleprompter,who cares about the results ? The celebs don't.
    Now you asked about trust of a squeaky clean living person or celeb ? Getting paid is all that matters. Three months from now it will all be forgotten.

    The Great Wall Of America

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    Re: Damn You, Tom Selleck!

    it's sad when actors that i used to like make commercials to help the banksters rob old people.

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    Re: Damn You, Tom Selleck!

    He's a water thief......

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    Re: Damn You, Tom Selleck!

    Quote Originally Posted by Helix View Post
    it's sad when actors that i used to like make commercials to help the banksters rob old people.
    how are they robbing old people?
    those banksters gave the home owners up to 80% of their home's fair market value and never required the home owners to repay that money while they were alive and compliant with the terms of the mortgage

    they are similarly 'robbing' young people who also fail to pay their property taxes or maintain hazard insurance

    that 'robbing' aka 'foreclosing' is the way lenders recover their loans when the borrowers fail to meet the terms and conditions of the contract they signed
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    Quote Originally Posted by bearpoker View Post
    ... Reality is a bitch, but not Trump's bitch.
    ​45<44

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    Re: Damn You, Tom Selleck!

    Quote Originally Posted by justabubba View Post
    how are they robbing old people?
    those banksters gave the home owners up to 80% of their home's fair market value and never required the home owners to repay that money while they were alive and compliant with the terms of the mortgage

    they are similarly 'robbing' young people who also fail to pay their property taxes or maintain hazard insurance

    that 'robbing' aka 'foreclosing' is the way lenders recover their loans when the borrowers fail to meet the terms and conditions of the contract they signed
    reverse mortgages are a scam designed to prey on the elderly.

    Don't be Suckered into Buying a Reverse Mortgage — Consumer Reports

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    Re: Damn You, Tom Selleck!

    Quote Originally Posted by Helix View Post
    reverse mortgages are a scam designed to prey on the elderly.

    Don't be Suckered into Buying a Reverse Mortgage — Consumer Reports
    please explain how reverse mortgages exploit the elderly in any way different than a conventional mortgage
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    Quote Originally Posted by bearpoker View Post
    ... Reality is a bitch, but not Trump's bitch.
    ​45<44

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    Re: Damn You, Tom Selleck!

    Quote Originally Posted by justabubba View Post
    please explain how reverse mortgages exploit the elderly in any way different than a conventional mortgage
    see the link.

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