Conceptually, Reverse Mortgages can fulfill a need for Seniors who want to stay in their own house but don't "need" to pass along any money to their children when they die. Especially in a market like Vancouver, and many other Canadian markets, where they may have close to a million dollars tied up in their house. Like everything else, of course, there are many companies offering deals that benefit them a lot more than the Seniors they are supposed to be serving.
Listening to old airchecks from the Sixties reminds me that Top 40 stations often aired commercials for products and services that were pretty bad for their listeners.
- "Consolidate your debts into one monthly payment with us, and we'll charge you higher interest rates, but you won't notice because we'll give you a longer Term to lower your monthly payments."
- Or the fake "Speed" drug that was the subject of one WKRP Episode, where a high school kid collapsed in gym class and had to be rushed to hospital, after taking some of this stuff to stay awake longer and study the night before
I actually had more issues with the former mayor of Edmonton who recently lead the ad campaign for Uber at a time when the current City Council was trying to negotiate a deal with them.