The demographics are changing from years ago. It used to be that only individuals were seeking a reverse mortgage. Today, more and more couples are seeking out reverse mortgage information and applying based upon their needs and desires for travel, investing, home improvement projects, and hiring home care.  So what is a reverse mortgage, really?

Basic Reverse Mortgage Information

The average age in the past was 76, while today it is 74. Single women used to be the primary candidate for a reverse mortgage whereas today we’re finding more men attracted to this financial tool.

In the past, property values averaged around $142,000.00. In today’s market, property values are averaging around $214,000.00.

Reverse mortgages have come a long way from its inception in the 1960’s. More and more people are exploring ways that a reverse mortgage could benefit their lifestyle. If you or someone you love is interested in getting additional reverse mortgage information, please give me a call at (720) 641-3482, and I’ll be happy to help.

This entry was posted on Wednesday, October 3rd, 2007 at 8:20 pm and is filed under Colorado Reverse Mortgage. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.