Senior Bank Services Discusses New HECM Reverse Mortgage Figures

(PRWEB) May 29, 2015

Although many reverse mortgage lenders are busy helping seniors with these types of home loans, the latest HECM reverse mortgage endorsements show a small decline. Senior Bank Services is a nationally known website that provides valuable information about products that senior citizens would be interested in. The main source of traffic to this website is from those looking for reverse mortgage information, and localized pages for reverse mortgage lenders to be contacted from interested consumers about reverse mortgages. The latest information that shows the decline in HECM endorsements is less than a couple percent, but states like California continue to grow in reverse mortgages for seniors. To find out more about reverse mortgages, or to speak with a licensed mortgage professional who specializes in these types of loan products visit, http://www.seniorbankservices.com

A HECM reverse mortgage is the only reverse mortgage insured by the U.S. Federal Government. It also constitutes most of all the reverse mortgages done in this country. Individuals 62 or older and have equity in their homes can apply for this type of loan. The different between a traditional mortgage and reverse mortgage is, seniors that receive a reverse mortgage do not have to make mortgage payments. They are still responsible for taxes and insurance as well as maintaining the home. A popular trend in reverse mortgages is using one to buy a home, called a HECM purchase, or reverse purchase. The senior places a large down-payment on the home when buying and then lives there without the worry of making a mortgage payment. To learn how to buy a home using a HECM purchase, or to speak with a reverse mortgage specialist call the number provided.

About the Company: SeniorBankServices.com is a nationwide reverse mortgage information website that offers reverse mortgage information and connects prospective clients to qualified licensed reverse mortgage brokers and lenders to homeowners in Riverside, San Diego, Los Angeles, and San Bernardino, and throughout the state of California. The company and its partners follow all rules and regulations regarding reverse mortgages. To learn more about reverse mortgage lenders in San Diego, or any other loan product, visit the company website.

Phone: (888) 217-6222
Contact: Mason Baxter
http://www.seniorbankservices.com/reverse-mortgage-san-diego/

Read the full story at http://www.prweb.com/releases/hecm-reverse-mortgages/reverse-mortgage-lenders/prweb12751848.htm

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