He may have a major following as an televangelical figure for households across the U.S., but that doesn’t make Pat Robertson an expert on the topic of reverse mortgages.
In a clip first posted on YouTube by National Mortgage Professional on Tuesday under the headline: “Pat Robertson Weighs Reverse Mortgages,” the Christian TV figure responds to a viewer question on reverse mortgages during an airing of The Christian Broadcasting Network’s show The 700 Club.
But the advice given isn’t quite right, NMP writes in its coverage.
The viewer, who is 67 years old, says she is considering a reverse mortgage but has doubts about the product.
To her question, Robertson responds: “They [the bank or lender] will not take your house away from you as long as you are alive and live in it. When you do leave, you don’t have to pay it off, but somebody has to pay it off—the U.S. taxpayer.”
Ultimately he recommends more advice.
“Get an advisor to help you on it,” he says. “It could be a good deal for you.”
Written by Elizabeth Ecker