Actor Tom Selleck has a confession to make – the star of “Blue Bloods” is concerned over whether he can afford to keep his California ranch after his CBS series goes off the air later this year.
In an interview with CBS News, Selleck questioned whether he would have the funds to maintain his Ventura County property when his long-running series signs off. Selleck acquired the ranch in 1988 after his first hit series, “Magnum P.I.,” went off the air.
“That’s always an issue,” he said. “If I stopped working, yeah. Am I set for life? Yeah, but maybe not on a 63-acre ranch.”
While Selleck’s six-decade career as an actor has included small screen and big screen hits, the 79-year-old admitted his past achievements was no guarantee for a future paycheck after “Blue Bloods” concludes its 14-season run. When asked what he saw in his future, Selleck answered, “Hopefully, work. As an actor, you never lose – I don’t lose, anyway – that sense that every time I finish a job, it’s my last job.”
Strangely, the CBS interview made no reference of another job that Selleck enjoys as the spokesman for reverse mortgage provider American Advisors Group – indeed, his ubiquity in the AAG marketing is so prominent that it inspired a full-episode parody last fall on the “Family Guy” animated comedy series. It is unclear whether Selleck conferred with his AAG employers on whether he could obtain a reverse mortgage for his ranch.
Photo courtesy CBS
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If he has owned the ranch for 36 years his 30-year mortgage should be paid for, why borrow and start over again, after his passing someone will have to repay the Reverse loan.
I think you’re mistaken about the payback. It’s a government connected loan. If there’s not enough in the sale price to pay off the mortgage, that’s not the responsibility of his heirs. Heirs do not inherit debt.
Totally agree, but sellers and hiers do not understand this. People that qualify are concerned about leaving something for the children. It may not be possible if kids can;t pay off the loan or if the loan. Or if the loan due is higher than the value, most would not want to purchase. If it womt sell the bank will take it back. Get your reverse mortgage and don’t worry about your kids, let them make it the way you did.
The poor dear! He must not have invested wisely
It may have less to do with the success of his investments and more to do with California taxation!
Makes no sense what sellick is saying Sellick selling something
May he should get a reverse mortgage.