Reverse Mortgages Near You - Rocklin 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 Rocklin, California.
Tom Caruthers and My Reverse Mortgage are your team of choice in Rocklin when you need expert advice on anything to do with reverse mortgages – from Loomis to Roseville and throughout Placer County.
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.
House prices in Rocklin boomed 38.4% between August 2020 and June 2022.
And while there was a small correction in 2023, prices are back on the rise and reached an average of $666,319* (https://www.zillow.com/home-values/6809/rocklin-ca/).
There are 3,513 people in and around Rocklin who already enjoy the benefits of a reverse mortgage with 174 of them joining the party in the last 12 months*.
About Rocklin, California
The origins of the Rocklin moniker remain unclear with unsubstantiated theories it was named after an early settler, that it hails from Gaelic and that it is a corruption of the words “rock land”.
It first appeared on maps in 1864 and its position adjacent to a granite quarry seems to give the most logical explanation for its name.
Lying just 22 miles from Sacramento, Rocklin’s population was only 795 in 1940 and still just 1,495 in 1960.
But development began soon after establishing suburban communities in the area around Sunset Whitney and its beautiful golf course, many lured by lower costs of living.
High technology firms and other industries followed, resulting in Rocklin’s population exploding in successive decades toward the end of the 20th century.
By 2020, it had risen to 71,601.
Granite mining ceased in Rocklin in 2004 with large multinationals, retail, education and government now driving the city’s economy.
Quarry Park is worth a visit if you don’t mind heights – an adventure park built upon a disused quarry.
There are also 37 developed parks among more than 200 acres of open space in the region.
When you’ve finished exploring, quench your thirst at the Moksa Brewing Company where you can enjoy a quality beer at the end of the day.
Rocklin’s Quarry District hosts its annual Hot Chili and Cool Cars festival every September.
Contact your Rocklin 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 February 2024
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