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Palm Springs Reverse Mortgages

Shop for the best reverse mortgage deals in Palm Springs, California.

Meet Jean Gallagher

Jean Gallagher Reverse Mortgages

Jean Gallagher

Reverse Mortgage Specialist

NMLS #263711


(760) 699-1351

 

 

Shop for the best reverse mortgage deals in Palm Springs, California.

Jean Gallagher and Entertainment Mortgage are a five-star team to deal with in Palm Springs if you are keen to learn more about a reverse mortgage, from La Quinta to Whitewater and throughout Riverside County.

Jean is a mortgage professional who has worked in the trenches since 1990.

Many of her borrowers are in the entertainment and tech industries.

She also specializes in reverse mortgages and is focused on helping homeowners restructure their mortgages in relation to their overall finances.

“Many people don't realize what an amazing financial tool their home can be,” Jean said.

Prior to founding Entertainment Mortgage in 1990, she was a stockbroker for a major Wall Street firm.

“That's where I learned about money and what it can do to better your life now and in the future,” she said.

“I have carried that education into my mortgage business.”

Jean serves clients right throughout California and is always happy to connect with like-minded professionals.

Her peers and clients describe her as diligent, hard-working, smart, reliable and honest.

What is a reverse mortgage?

A reverse mortgage is such a fantastic product because it reverses the growing stress levels on seniors who are concerned for their financial freedom.

Palm Springs, CA
Palm Springs, CA, Credit: Flickr

Many of them have watched the nest egg they worked so hard to build over decades quickly eaten up by rising inflation.

Some consider selling their properties to free up liquidity.

But it isn’t their only option!

Retirees who are at least 62 years of age and have equity in their homes can convert that equity into a supplementary income stream by applying for a reverse mortgage.

It can send their worries to the breeze and leave them safe in the knowledge they can see out their retirement in their own homes and on their own terms.

There are a number of different ways that homeowners can be paid including a lump sum, monthly installments or a line of credit - even a mix of all three.

One of the best features of this loan is that as long as the terms are met, there is no need to repay it until either the homeowner either sells the residence or the last surviving borrower passes away.

Housing in Palm Springs over the last 12 months has grown an incredible 25.7% to an average of $725,934* (https://www.zillow.com/home-values/46965/palm-springs-ca/).

You won’t have to look far to meet a Palm Springs resident who has already taken advantage of reverse mortgages - there are 1,585 of them.

And 280 have bought one in just the last 12 months*.

About Palm Springs, California

The origins of the name Palm Springs isn’t as obvious as it sounds.

Early Spanish explorers dubbed it La Palma de la Mano de Dios or “The Palm of God’s hand”.

While in 1823, two Mexicans sent by their government to find a route from Sonora to Alta California, named it Agua Caliente or “hot water”.

The earliest reference to Palm Springs can be found in maps that date back to 1853.

By the 1900s Palm Springs had become a tourist resort, especially for those seeking dry heat.

Hotels and resorts sprung up everywhere in the Colorado Desert’s Coachella Valley.

By the 1930s, its appeal to movie stars had made it a destination for the rich and famous.

While less than 45,000 made up its official population count at the 2020 census, that number is known to triple in the summer months.

The Palm Springs Aerial Tramway was opened in 1963 and is the world’s oldest rotating tramcars, as well as being one of the steepest.

The city is home to more than 100 golf courses earning it the title of the “Golf Capital of the World”.

It’s a game they take very seriously in Palm Springs which also hosts the world’s only golf cart parade, drawing around 25,000 spectators.

Contact your Palm Springs reverse mortgage lender today.

Jean and her team at Entertainment Mortgage are keen to light your path back to financial independence.

If you’re looking for someone to help take the worry and hassle out of the refinancing process, call Jean today on (760)699-1351.

*As of September 2022

 

 

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