Reverse Mortgages Near You - Auburn Reverse Mortgage Lender
Meet Tom Caruthers
Tom Caruthers
Reverse Mortgage Specialist
NMLS #2245401 | CA DRE #00812904
(916) 378-7443
Find the best reverse mortgage deals in Auburn, California.
Tom Caruthers and My Reverse Mortgage are your team of choice in Auburn when you need expert advice on anything to do with reverse mortgages.
Tom is a veteran of the real estate and mortgage industries, having first dipped his toes into the business as a commercial real estate agent in 1978.
That’s why he’s often asked why, at his age and with all his experience, he’s selling reverse mortgages.
It’s a question he loves to answer.
“Because, according to insurance giant Northwestern Mutual Life, ‘One in three baby boomers have somewhere between $0 - $25,000 in retirement savings’,” Tom says.
“Even worse, nearly half (46%) of adults in America have taken no steps to prepare for the likelihood they could outlive their savings.
“The situation is dire and it’s happening all around us – to family, friends and people we know.
“If you’re a baby boomer, the percentages say it could happen to you.”
Tom is a baby boomer too and wants to help his peers.
He created My Reverse Mortgage, Inc. for the sole purpose of helping his baby boomer buddies survive their retirement with dollars in their pockets.
Why not see if he can help you too.
What is a reverse mortgage?
A reverse mortgage is an incredible loan device that has the ability to dig seniors and retirees out of very tight financial squeezes.
It is designed for people at least 62 years of age who have equity in their properties but not enough money in the bank to live on.
A reverse mortgage allows you to access that equity and convert it back into cash.
It provides a brand new income stream that allows you to continue to live in your family home without facing the unsavory thought of being forced to sell it and downsize just to see out your retirement.
The extra income allows you not only to pay for day to day expenses but potentially to splash out a little, like you’d always hoped and dreamed.
That might include a family vacation, updates to your home, simply the ability to enjoy some of the finer things in life without counting every penny.
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 to bed and give their standard of living a timely shot in the arm.
Home values have slightly increased by 1.5%, and prices are at an average of $624,117* (https://www.zillow.com/home-values/50800/auburn-ca/).
There are 1,591 people in and around Auburn who already enjoy the benefits of a reverse mortgage with 73 of them joining the party in the last 12 months*.
About Auburn, California
Auburn, California, is a historic and picturesque city located in the Sierra Nevada foothills of Placer County. Known for its rich history, charming downtown, and abundant outdoor recreational opportunities, Auburn offers residents a blend of small-town charm and natural beauty. With a population of approximately 14,000 residents, Auburn is a close-knit community that values its heritage and scenic surroundings.
Auburn's history is deeply intertwined with the California Gold Rush of the mid-19th century. The city was founded in 1848 by gold prospectors and quickly grew into a bustling mining town. Today, Auburn's historic downtown area preserves much of its Gold Rush-era architecture, with beautifully restored buildings housing shops, restaurants, and museums. The Placer County Museum and the Gold Country Museum offer visitors a glimpse into Auburn's rich past and the history of the Gold Rush.
One of Auburn's standout features is its stunning natural surroundings and outdoor recreational opportunities. The city is surrounded by picturesque landscapes, including the American River Canyon and the Auburn State Recreation Area. Residents and visitors can enjoy hiking, biking, rafting, and fishing amidst the scenic beauty of the area. The Western States Trail, which passes through Auburn, is a popular destination for hikers and equestrians alike.
Auburn's sense of community is evident in its numerous local events and gatherings. The city hosts a variety of community events, festivals, and fairs throughout the year, including the Auburn Gold Country Fair, the Auburn Art Walk, and the Auburn Community Festival. These events bring residents together to celebrate the city's heritage, arts, and culture.
Education is a top priority in Auburn, with the Placer Union High School District and the Auburn Union School District serving the city's K-12 students. The city is also home to several highly rated public and private schools, providing families with a range of educational options.
As a reverse mortgage loan officer in Auburn, I am proud to serve the residents of this vibrant and historic community. Whether you're considering a reverse mortgage to access your home's equity or exploring financial options, I am here to provide expert guidance tailored to the unique opportunities and challenges of living in Auburn. Auburn embodies the best of California living, where history, natural beauty, and community spirit come together to create a truly special place to call home.
Contact your Auburn reverse mortgage lender today.
Tom and his My Reverse Mortgage team are looking forward to speaking to anyone who thinks a reverse mortgage might assist them.
Please call Tom at (916) 378-7443 and he will be pleased to offer you a no obligation assessment of your position.
*As of July 2024
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