A new Orange County, Calif. reverse mortgage company, Ameriverse Mortgage, announced Hall of Fame music icon, Bill Medley as their spokesperson.
Medley is most well-known for co-founding the Righteous Brothers and known for his top hits, “You’ve Lost that Lovin’ Feelin’” and the grammy-winning song, “The Time of My Life” from the 1986 film, Dirty Dancing.
Medley is extremely involved in philanthropic work with local and national charities and also still performs at dozens of healthcare, education and veterans’ organizations. He has seen the good that can come from a reverse mortgage through friends who have benefited greatly from them, explains Jon Mohler, co-founder of Ameriverse Mortgage, who has been in the mortgage industry for 40 years.
“Reverse mortgages are not for everyone, but for the right people they are just wonderful,” he says. “They used to be kind of sleazy but with all of the new regulations, especially the counseling that is required now, it helps the borrowers become more educated before they jump right into it.”
Accepting the offer to become a spokesman at Ameriverse was an easier decision for Medley after he did his own research on the product and saw that much has changed over the years.
In addition to Medley’s local roots, the partnership also has personal roots for Medley. “Bill and I have known each other since the seventh grade. We go way back,” says Mohler.
Ameriverse opened its doors just three months ago and has closed 20 reverse mortgages so far. But this is just the beginning, explains Mohler.
“We are beginning to promote the reverse mortgage product with Bill Medley through TV commercials in the Orange County area, with hopes of expanding to the whole state within six months and then into a few other states from there,” he says.
The company is also engaging in outreach online as well as building relationships with financial planners and attorneys.
Ameriverse is Mohler’s first company specializing in reverse mortgages and is the reverse mortgage division of Golden Empire Mortgage in Bakersfield, Calif.
Medley is the latest celebrity to begin advocating for reverse mortgages. Earlier this month, American Advisors Group, also headquartered in Orange County, named Emmy and Golden Globe award-winning actor Tom Selleck to be the company’s newest spokesman.
Written by Alana Stramowski