Want the best reverse mortgage deals in Torrance, California? You’re in the right place. Meet Carl Walsh.
Carl Walsh
Reverse Mortgage Specialist
NMLS #236068 | BRE# 00930729
(310) 612-0124
Torrance Reverse Mortgage Lenders
Carl Walsh and the C2 Financial Corporation are ready to help you take advantage of the power of a reverse mortgage. Whether you’re in Torrance, Redondo Beach, Carson, Gardena, or anywhere in Los Angeles County, Carl has the answers to your questions about this incredible product.
Carl is held to the highest professional standards in the industry and has been helping people improve their own way of life with reverse mortgages for the last 12 years. He enjoys a working relationship with a wide variety of lenders giving him the ability to tailor a product to your specific needs.
Let Carl do the leg work for you. “No Sales, just honest, good information”. That’s his commitment to you.
What is a reverse mortgage?
A reverse mortgage is a potentially life-changing loan that helps homeowners realize the real value of their property. Available to anyone 62 years or older, it gives you the ability to access the dollar value of your home without the need to move house.
Homeowners can draw down funds in a number of different ways including a very handy line of credit and all while remaining in the comfort and familiarity of their home.
The strength of this loan is that as long as the terms of the loan are met, there is no need to repay the loan until either the homeowner sells the residence or the last surviving borrower passes away.
It is the best way retirees can free up cash for renovations, taking that long overdue vacation, paying off debt, creating an emergency fund, or simply enjoying a higher standard of living without having to move.
Housing values have soared in the last year and Lost Angeles is no exception. In fact, the 2021 median home value in Los Angeles was $1,076,093. The 2022 maximum lending limit (the maximum home value counted to calculate the loan amount) for FHA-insured reverse mortgages is $1,149,825. This means nearly all homes in the greater Los Angeles area would see most if not all of their full home value considered in the calculation of the potential maximum reverse mortgage loan benefit.
Homes above $1,149,825 may choose to apply for a private jumbo reverse mortgage for higher-valued properties.
Reverse mortgages calculate the maximum available loan benefit (before fees, costs, and lien payoffs) for qualified borrowers based on the home’s appraised value, the age of the youngest borrower or named non-borrowing spouse and the current/starting effective interest rate.
Reverse Mortgages in LA
There are already 9,021 homeowners in Los Angeles that have taken advantage of a reverse mortgage. In the last 12 months alone, 1,237 have taken the loan.
About Los Angeles, California
Los Angeles is the largest city in the state of California with a population of 3,898,747 in 2020. LA is the second-largest city in the United States after New York City. Situated along the Pacific coast the city limits encompass approximately 469 miles. The City of Los Angeles is the county seat for LA County. The city’s name literally translated means the angels.
The Los Angeles area was first home to the native Chumash & Tongva peoples. In 1542 the Spanish explorer Rodríguez Cabrillo claimed the area for Spain. The region remained under Spanish control until it became part of Mexico in 1821 following Mexican independence. Later Los Angeles and present-day California became a U.S. territory following the Mexican-American War.
Rapid expansion and settlement began following the arrival of the Southern Pacific and Sante Fe Railroads. The discovery of petroleum oil in the surrounding area and the gold rush helped solidify Los Angeles as California’s premier city. By 1910 there were ten movie companies operating in Hollywood which was later incorporated into the city. Following World War II Los Angeles grew faster than ever spreading into the neighboring San Fernando Valley.
Contact your Los Angeles reverse mortgage lender today.
Carl Walsh and his team at C2 Financial are ready to answer any questions or concerns you may have about a reverse mortgage. It's important to get the facts first, discuss your unique goals and needs, and see how much you may be able to qualify for with a reverse mortgage. Call Carl today at (310) 612-0124 to learn more or complete the steps below to get your free quote.
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