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big_dog

(4,144 posts)
Tue Jan 27, 2015, 02:12 PM Jan 2015

Pat Robertson Advises Elderly Woman: Reverse Mortgages Are A ‘Good Deal’ To Help Pay ’700 Club’ Dues

TV preacher Pat Robertson on Tuesday advised a senior citizen who was a paying member of his 700 Club tele-ministry that a reverse mortgage was a “good deal” if she was having trouble making ends meet. “I have been a 700 Club partner for many years,” a woman named Maria explained in an email. “I am 67 years old and still working because retirement money does not cover our basic expenses.”

“I was thinking about a reverse mortgage but have my doubts,” Maria wrote. “What do you think?” Robertson pointed out that a reverse mortgage prevented the bank from taking “your house away from you as long as you are alive and living.” “You don’t have to pay it off, but somebody has to pay it off, namely the United States taxpayer,” Robertson continued. “So, it’s not a good deal for the taxpayers, but for most people it’s a pretty good deal.”

The televangelist recommended that Maria speak to a financial adviser, but added that “it could be a good deal for you.” Becoming a 700 Club partner starts at $240 a year for a basic membership. A Chairman’s Circle membership runs $10,000 a year.
http://www.rawstory.com/rs/2015/01/pat-robertson-advises-elderly-woman-reverse-mortgage-is-good-deal-to-help-pay-700-club-dues/

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Pat Robertson Advises Elderly Woman: Reverse Mortgages Are A ‘Good Deal’ To Help Pay ’700 Club’ Dues (Original Post) big_dog Jan 2015 OP
"Prey TV looks like pay TV to me; it's just a curse on the human race." ~ Pete Townshend Journeyman Jan 2015 #1
Exquisitly bored in California. Fawke Em Jan 2015 #31
I did correct Pete's spelling: He has it as "Pray TV" but I prefer a more accurate characterization. Journeyman Jan 2015 #32
And the Faux pas Jan 2015 #2
As a CBN Chairman's Circle member, you will receive these exclusive benefits: oberliner Jan 2015 #3
the chances that Pat Robertson is gonna call them every month is extremely unlikely big_dog Jan 2015 #6
$10 says that it's a pre recorded robo dialer. Initech Jan 2015 #27
So basically $50 a month for a Chairman's Circle pin. Got it. Initech Jan 2015 #25
It's $834 dollars a month to join the Chairman's Circle oberliner Jan 2015 #40
Holy shit really? Initech Jan 2015 #41
Crazy, isn't it? oberliner Jan 2015 #44
That's how Falwell barely kept his church open before the Rev. Moon loan underpants Jan 2015 #4
Charlatan Pat Blue Owl Jan 2015 #5
Grifters gonna grift. eom MohRokTah Jan 2015 #7
Go Pats! TheCowsCameHome Jan 2015 #8
"As long as you are alive and living." Coventina Jan 2015 #9
He was quoted incorrectly Contrary1 Jan 2015 #14
Pat Robertson is thoroughly disgusting. 3catwoman3 Jan 2015 #10
Thank you! Vinca Jan 2015 #13
Well, if you have heirs, they pay off the reverse mortgage REP Jan 2015 #11
Is that counseling a state requirement? Panich52 Jan 2015 #28
Federal requirement for a reverse mortgage as HUD holds the second lien REP Jan 2015 #35
I have a friend who used to work.... RichGirl Jan 2015 #12
That disgusting old con man should be in the federal slammer hifiguy Jan 2015 #15
Lowest of the low and he never stops hate grift hate grift hate grift.......... lunasun Jan 2015 #33
Is that not the saddest thing? Tsiyu Jan 2015 #16
Good question. Initech Jan 2015 #43
700 Club is not a basic expense. Initech Jan 2015 #17
A couple actually succesfully petitioned a court KamaAina Jan 2015 #22
That's some serious mental conditioning right there. Initech Jan 2015 #24
What would happen? LibertyLover Jan 2015 #23
Nothing, he would never do what happened at the end of that SP episode. Rex Jan 2015 #39
What's the matter, Pat? Blood-diamond mines not paying well enough? backscatter712 Jan 2015 #18
must be a special hell for these guys. extra hot. pansypoo53219 Jan 2015 #19
Which circle of hell is the "Chairman’s Circle"? Gidney N Cloyd Jan 2015 #20
Gosh. We got a reverse mortgage without any help from Pat Robertson or God. Tierra_y_Libertad Jan 2015 #21
My god, my FUCKING GOD do I wish Jesus actually exists, he would beat your fucking NoJusticeNoPeace Jan 2015 #26
Exactly! These guys are disciples from hell. Using their own vernacular, the RKP5637 Jan 2015 #30
This guy is a predator and huckster using religion to sucker in the flock. RKP5637 Jan 2015 #29
what a fucking parasite notadmblnd Jan 2015 #34
GREEDY BAST@#% napi21 Jan 2015 #36
What do you get for a $10,000 a year Chairman's Circle membership? aint_no_life_nowhere Jan 2015 #37
Pat and his type are one of the reasons America is in decline in so many ways. Rex Jan 2015 #38
May he rot in hell. Rhinodawg Jan 2015 #42
This message was self-deleted by its author unblock Jan 2015 #45
I'm telling you man, when this old cancerous fuck finally kicks the bucket. geomon666 Jan 2015 #46

Journeyman

(15,001 posts)
32. I did correct Pete's spelling: He has it as "Pray TV" but I prefer a more accurate characterization.
Tue Jan 27, 2015, 09:06 PM
Jan 2015
 

oberliner

(58,724 posts)
3. As a CBN Chairman's Circle member, you will receive these exclusive benefits:
Tue Jan 27, 2015, 02:18 PM
Jan 2015

Monthly audio teaching tapes
Monthly Conference Calls with Dr. Robertson or a CBN Executive
Personal CBN Prayer Partners
An attractive Chairman's Circle pin.

Now that is money well spent!

 

big_dog

(4,144 posts)
6. the chances that Pat Robertson is gonna call them every month is extremely unlikely
Tue Jan 27, 2015, 02:23 PM
Jan 2015

more like the 'CBN Executive' of the fundraising department

 

oberliner

(58,724 posts)
44. Crazy, isn't it?
Tue Jan 27, 2015, 09:52 PM
Jan 2015

Check it out:

When you join the CBN Chairman's Circle for a gift of $10,000 ($834 a month) or more, you can be sure that your hard-earned money will be used to reap the best results with the utmost impact.

http://www.cbn.com/partners/chairmans_circle.aspx

underpants

(182,271 posts)
4. That's how Falwell barely kept his church open before the Rev. Moon loan
Tue Jan 27, 2015, 02:19 PM
Jan 2015

Jerry had his young members go door to door and have, mostly old widows, to sign their houses over. He borrowed money against those assets. He also took their jewelry to, you know, help the church.

Blue Owl

(49,906 posts)
5. Charlatan Pat
Tue Jan 27, 2015, 02:23 PM
Jan 2015

Sign up for your reverse mortgage today and get this free bottle of snake oil!

Don't wait, act now!

Contrary1

(12,629 posts)
14. He was quoted incorrectly
Tue Jan 27, 2015, 03:51 PM
Jan 2015

I watched the video. "They will not take your house away from you as long as you are alive and live in it" is what he said.

I am no fan of Robertson. In my opinion he should be in prison.

Having said that, it would be a refreshing change if "reporters" spent an extra minute or two, and made sure their articles were accurate.

3catwoman3

(23,812 posts)
10. Pat Robertson is thoroughly disgusting.
Tue Jan 27, 2015, 03:14 PM
Jan 2015

As an aside, I am about to be 64. I object strongly to 67 being characterized as "elderly."

Vinca

(50,168 posts)
13. Thank you!
Tue Jan 27, 2015, 03:39 PM
Jan 2015

I'll be 66 soon and I AM NOT "elderly." (Although senility is a convenient excuse when you forget something or someone. LOL.)

REP

(21,691 posts)
11. Well, if you have heirs, they pay off the reverse mortgage
Tue Jan 27, 2015, 03:28 PM
Jan 2015

My mother had one. Fortunately the amount she had taken out was low enough I could pay it within the 30 day window after she died (I could have had another six months to pay - with interest - had I needed to arrange financing). Since these things are financed at 150% of assessed value and there are two liens, the bank and HUD, if the homeowner outlives the first lien and draws on the second, it does become more expedient to let the mortgage company foreclose.

Borrowers are required to go through extensive counseling before taking out a reverse mortgage, but in some situations, it's not a terrible thing. It is a terrible thing if the only expense that needs to be cut to avoid one is giving money to the 700 Club.

My mother was 79 when she took hers out and died before the first full year of that loan. She wasn't planning on dying that fast, but the extra money did make things easier for her. If she had lived as long as she'd planned to, I would've be fine with no inheritance if it meant she got to remain independent.

Panich52

(5,829 posts)
28. Is that counseling a state requirement?
Tue Jan 27, 2015, 08:57 PM
Jan 2015

Just recently read story about woman thrown out of her house by a shady reverse mort company. If counseling is fed law, her state doesn't do adequate job at it - or ignores who's dealing w/ those counseled.

REP

(21,691 posts)
35. Federal requirement for a reverse mortgage as HUD holds the second lien
Tue Jan 27, 2015, 09:17 PM
Jan 2015

Just because someone receives the counseling and the information packet (that's more like a book), no one can be forced to read the material or do their own research. My mother spent a year researching these loans and lenders before taking hers.

RichGirl

(4,119 posts)
12. I have a friend who used to work....
Tue Jan 27, 2015, 03:36 PM
Jan 2015

...in a law office in Northern Neck Virginia. She said they had old people come in all the time...people who had children and grandchildren and they would change their will to leave everything they had to 700 Club! It made her sick to have to type those things up. Robertson is a criminal.

 

hifiguy

(33,688 posts)
15. That disgusting old con man should be in the federal slammer
Tue Jan 27, 2015, 03:56 PM
Jan 2015

for shit like this. Nobody knows how to scrape through the bottom of the barrel to the scum underneath better than a teevee "preacher."

Tsiyu

(18,186 posts)
16. Is that not the saddest thing?
Tue Jan 27, 2015, 03:56 PM
Jan 2015

Which begs the question:


Which is the bigger racket, war or religion?

What kind of greedy mother fucker tries to fleece money off of a financially struggling woman? When he is worth so much? Talk about your seven deadly sins.


But, go Jesus people. I gotta hand it to you: you make Wall Street look good.








Initech

(99,909 posts)
43. Good question.
Tue Jan 27, 2015, 09:47 PM
Jan 2015

One enjoys tax exempt status (but repeatedly abuses the privilege). The other pays next to nothing in taxes thanks to backdoor loopholes and overseas dodges, and both rake in billions every single year. .

Initech

(99,909 posts)
17. 700 Club is not a basic expense.
Tue Jan 27, 2015, 04:04 PM
Jan 2015

Seriously I watched the Cash For Gold episode of South Park and that scene where Stan calls the Home Shopping Network and gives them shit for exploiting the elderly, I really wonder what would happen if someone were to call The 700 Club and give Pat Robertson similar shit for the same thing.

 

KamaAina

(78,249 posts)
22. A couple actually succesfully petitioned a court
Tue Jan 27, 2015, 05:23 PM
Jan 2015

to exempt their church contribution from their bankruptcy!

LibertyLover

(4,788 posts)
23. What would happen?
Tue Jan 27, 2015, 05:24 PM
Jan 2015

they would be cut off as soon as their sentiments were obvious and not allowed on the air. Robertson's show and all the religious "give me your money" shows have a delay on them so that dissenting calls can be deleted before,they make it on screen.

 

Rex

(65,616 posts)
39. Nothing, he would never do what happened at the end of that SP episode.
Tue Jan 27, 2015, 09:23 PM
Jan 2015

That would require some sort of self-reflection mode and we all know that Pat only has 3 emotions - anger, fear and greed.

 

Tierra_y_Libertad

(50,414 posts)
21. Gosh. We got a reverse mortgage without any help from Pat Robertson or God.
Tue Jan 27, 2015, 05:15 PM
Jan 2015

I guess we won't get that cloudside condo in heaven.

NoJusticeNoPeace

(5,018 posts)
26. My god, my FUCKING GOD do I wish Jesus actually exists, he would beat your fucking
Tue Jan 27, 2015, 08:47 PM
Jan 2015

ass you motherfucker


(talking about Robertson of course)

RKP5637

(67,030 posts)
30. Exactly! These guys are disciples from hell. Using their own vernacular, the
Tue Jan 27, 2015, 08:59 PM
Jan 2015

devil comes in many disguises!

napi21

(45,806 posts)
36. GREEDY BAST@#%
Tue Jan 27, 2015, 09:17 PM
Jan 2015

Anyone who is honest with their financial advice will tell you a reverse mtg. is a terrible idea, of for no other reason than their fees are HORRID!

I happen to be in the age category to be able to do something like that, and my house is paid off, but it's the last thing I would ever do. I feel sorry for the fervent listeners of the 700 Club who will fall for this BS because they trust Pat.

aint_no_life_nowhere

(21,925 posts)
37. What do you get for a $10,000 a year Chairman's Circle membership?
Tue Jan 27, 2015, 09:20 PM
Jan 2015

If that lets you ram a prickly pear cactus up Robertson's butt every day, it just might be worth it.

 

Rex

(65,616 posts)
38. Pat and his type are one of the reasons America is in decline in so many ways.
Tue Jan 27, 2015, 09:20 PM
Jan 2015

I really do hope that his god and his devil exist, so that he can live for eternity in miserable conditions in Hell. It is exactly what he deserves.

Response to big_dog (Original post)

geomon666

(7,512 posts)
46. I'm telling you man, when this old cancerous fuck finally kicks the bucket.
Tue Jan 27, 2015, 09:59 PM
Jan 2015

I've got my dancing shoes on. It's going to be the end of the Empire after ROTJ. There's going to be music, dancing, and fireworks all over that motherfucker's grave.

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