I spend a large part of my day analyzing my business and the Las Vegas Real Estate and Mortgage Industry in general.  I keep my eye on trends and attempt to figure out why the trends are happening.  One trends that has particular intrigued me is Reverse Mortgages.

Today, Reverse mortgages are likely the only segment of the mortgage industry trending upward.  This upward trend doesn't show any signs of slowing anytime soon as:

  • 15 million senior households meeting eligibility requirements
  • More than 50% of senior's net worth is in home, an illiquid asset
  • There is $4.3 trillion of senior home equity in the nation today
  • Estimated 78 Million babyboomers begin turning 62 this year and will continue for next 17 years

Based on these figures, this will soon become a large market for Mortgage Originators especially in Las Vegas.  As always, when there is a new trend you can rest assured that there will be unscrupulous originators trying to exploit the trend and make a quick buck. 

In my previous post, Reverse Mortgages in Las Vegas, a Great Option for Some, I outline some of the features of Reverse Mortgages and how they pertain to the Las Vegas market.

I can not stress enough that if you or some one you know are in the market for a Reverse Mortgage, seek out an expert in the field with a reputable company.  If you are unsure where to find one, feel free to contact me directly and I can assist you.

Your Mortgage Partner for Life,

Rey Gallegos
Home Loan Consultant

 

2 Comments on Reverse Mortgages in Las Vegas, Trending Upward!

Rey - good info! Where you been lately?  Haven't seen you playing in the 'rain' much!

03/08/2008 02:54 PM by Mary Warren, Las Vegas Real Estate (Keller Williams Southern Nevada)

Rey, Great post.  I know here in Florida we are seeing a rise in Reverse Mortgage's as well.  It is not for everyone but it is a nice tool to have for your clients

03/09/2008 07:57 AM by My Favorite Mortgage.net - Matthew J Blum

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Loan Officer: Rey Gallegos Home Loan Consultant Las Vegas, NV (A Mortgage Bank)
Rey Gallegos Home Loan Consultant Las Vegas, NV
Las Vegas, NV
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Office Phone: (702) 808-8328
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FAST LAS VEGAS MORTGAGE QUOTE! Your complete Henderson & Las Vegas, Nevada Mortgage & Home Loan Blog. Written by an experienced, reliable Nevada Mortgage Loan Officer. Blog topics include; Buying a home, Refinancing your current mortgage, Online Mortgage Application, Mortgage Quote, Home Loans, Henderson, Las Vegas, and Nevada News.


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