Reverse Mortgages Near You - Pasadena Reverse Mortgage Lender
Meet Dan Portillo
Dan Portillo
Certified Reverse Mortgage Professional
NMLS #1981401 | CA DRE #01181613
(800) 615-1120
Find the best reverse mortgage deals in Pasadena, California.
Dan Portillo and Nexus Funding make one of LA’s top teams if you need the best advice on how a reverse mortgage can put you back in the financial driver’s seat – whether you’re in Thousand Oaks, Glendale, Long Beach or anywhere across Los Angeles County.
Dan knows the real estate and mortgage business backwards, having worked as a broker in various roles for the last 30 years.
Experienced and accomplished in everything from first-home buyers and investment properties to relocations and short sales, he is now excited to open up a world of possibilities to California’s seniors by offering a dynamic reverse mortgage.
Dan knows the LA, Orange County and San Bernardino County markets intimately, having lived and worked in the area all his life.
His breadth of knowledge and rock solid trust are qualities that you will value highly.
“If you’re looking for expert advice on how to stretch your assets further in retirement, I’d love to talk with you,” Dan said.
What is a reverse mortgage?
A reverse mortgage is an incredible loan product that has the ability to end your financial woes overnight.
It is tailor-made for people who have equity in their property but are cash poor and struggling to enjoy their retirement the way they should.
A reverse mortgage allows seniors to tap into their equity and convert it to cash.
That cash then allows them to remain in their treasured homes rather than be forced to contemplate the unsavory decision of having to sell up, just to see out their retirement.
It is available to seniors at least 62 years of age and offers a viable solution to anyone who has watched rising inflation eat away at their nest egg much faster than they had planned.
With their accommodation and liquidity problems solved, they’ll be able to reconsider some of the things they had probably given up hope of enjoying again – vacations, home renovations and spoiling the grandkids.
Funds can be made available in a number of different ways including a line of credit, monthly installments, a lump sum or even a combination of all three.
As long as the terms of the loan are met, it does not require repayment until either the homeowner sells or the last surviving borrower passes away.
It’s one of the shrewdest ways homeowners can put their financial struggles behind them and boost their standard of living.
House prices have soared recently with properties in Pasadena jumping 33.5% in the two years to July 2022.
And while there has been a slight correction of 3.2% in the last 12 months, average house prices remained at $1,101,658* (https://www.zillow.com/home-values/47019/pasadena-ca/).
There are 4,158 people in the Pasadena area who have purchased a reverse mortgage with 280 buying one in the last 12 months*.
You’d be crazy not to consider one!
About Pasadena, California
Pasadena is the Native Ojibwa (Chippewa) Indian word for “valley”.
It has however been interpreted to mean “Crown of the Valley” and “Key of the Valley”, hence the crown and key on the city’s official seal.
After years under Spanish and then Mexican control, the area known today as Pasadena was scouted by Indianapolis local D.M. Berry in 1873 who was drawn to it by its temperate climate, much more suitable for those vulnerable to respiratory ailments.
Word quickly spread and Pasadena became a fashionable resort town for east coasters looking to escape the cold.
Road, rail and hotel developments quickly followed prompting a population boom that has grown steadily through the years before plateauing in the 130,000s in the 1990s.
The city boasts the Rose Bowl which has hosted the Super Bowl five times.
It is less well known for also being home to a professional futsal team, the Pasadena Purple Cows.
The city has featured in many songs including Jan and Dean’s 1964 hit, “The Little Old Lady (from Pasadena)”, famously covered live by The Beach Boys.
Contact your Pasadena reverse mortgage lender today
Dan and his Nexus Funding team are standing by to explain how you can reverse your financial fortunes.
For a no obligation assessment of your situation, please call him on (800) 615-1120.
*As of July 2023
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