Carlsbad, CA (PRWEB) February 2, 2008
Reverse mortgages are picking up steam, according to the reverse mortgage lender Go Reverse and Save. This is apparent now that the National Reverse Mortgage Lenders Association has released their 2007 statistics. The online reverse mortgage lender is preparing for new business, as the federally insured reverse mortgage market grew by 27 percent last year and more homeowners will likely catch on to the trend.
While traditional mortgage lenders struggled last year, the reverse mortgage market is growing by leaps and bounds. There were 786 new reverse mortgage lenders to enter the market in 2007, bringing the total to 1,674 in the nation. Go Reverse and Save expects their business to grow in 2008, and plans to continue offering homeowners with solutions to financial problems through their reverse mortgage products.
A reverse mortgage is a lending tool that is available to homeowners over the age of 62 that don't require repayment as long as the borrower lives in the home. Reverse mortgage borrowers don't have to show proof of future income or meet a credit threshold, so this industry is not affected by the credit crunch that is tightening other lending markets. Go Reverse and Save, an online reverse mortgage lender based in Southern California, is one of the leading financial institutions to offer this new type of loan in recent years.
For more information about the online reverse mortgage lender, go to http://www.goreverseandsave.com
About Go Reverse and Save:
GoReverseandSave.com is a leading online reverse mortgage lender dedicated to matching homeowners with the right loan at the right price. Whether shopping for a fixed term loan or an adjustable rate reverse mortgage, http://www.GoReverseandSave.com helps homeowners apply for a reverse mortgage easily.
In addition to a variety of first reverse mortgage loans, http://www.GoReverseandSave.com offers home equity loans, refinancing and debt consolidation. Homeowners looking to lower monthly payments, lock in a better interest rate, or change their reverse mortgage terms can make it all possible by refinancing with Go Reverse and Save. Homeowners may be able to take cash out if they have enough equity in their house, as well. The team at GoReverseandSave.com also knows that paying off debt gets hard, so they make debt consolidation practical and easy. Borrowers can save money every month by paying off high interest credit cards and consumer loans.
Go Reverse and Save
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