The Fonz is New Spokesperson for Reverse Mortgage Company

June 2, 2010 No Comments »

the fonz

The “Fonz,” better known for being cool than pitching mortgage products to old people, is the new face of a growing reverse mortgage company.

One Reverse Mortgage of Livonia, Michigan announced today that award-winning actor and author (really?) Henry Winkler will be the company’s new spokesperson going forward.

He will take part in all major advertising campaigns effective immediately, including television commercials slated to air on national cable networks.

“Once I learned of the work One Reverse Mortgage was doing to help seniors, I was immediately interested,” Winkler said in a press release. “I have always been committed to helping others, and I see my work here as the next step in that effort.”

I thought he didn’t trust anyone over 30, but I guess I was wrong.

Reverse mortgages allow homeowners 62 years of age or older to pull equity from their homes without the need to sell the property or make a monthly mortgage payment, unlike a traditional refinance.

They have surged in popularity in recent years, partially because it’s easier to bank on existing home equity than expected appreciation, but scrutiny of the loans has also skyrocketed because of their ties to other investment vehicles like annuities.

One Reverse Mortgage is an affiliate of Quicken Loans, another heavy hitter in the loan origination space.

(photo: gesika22)

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