Hottest Cities for Reverse Mortgages

Reverse Mortgage Daily reports that the reverse mortgage industry as a whole reported volume level highs for the month of August that has not been seen in two years.  The Pacific/Hawaii region showed the largest increase in HECM endorsements for the month with 11 of the major cities that comprise this region showing a respectable increase from July.  On the low end of the growth was Las Vegas with a 25.5% increase, and on the high end was San Diego with a 144% increase which comprised of 188 loans, up from 77 in July.  Other notable cities in this region were Sacramento, Fresno and San Francisco each of which showed increases of over 100%.  In the Northwest/Alaska region, Boise led the charge with 55 loans for the month and a 155% increase from the prior month, and Seattle was also hot with 191 loans closed making for a 109.9% increase.  Read the entire article here.

For more information on reverse mortgages and other related topics contact:

Rick R. Rodriguez
Certified Reverse Mortgage Professional, CRMP
NMLS# 473353
Toll Free (877) 500-0454
Local (702) 460-6222