Reverse Mortgages Near You - Indian Wells Reverse Mortgage Lender
Meet Todd Walcott
Todd Walcott
Senior Loan Officer, CRMP, CMPS
NMLS #183784 | CA DRE #02227563
(760) 784-7860
Get the best reverse mortgage deals in Indian Wells, California.
Todd Walcott and Contempo Lending are the professionals you should talk with in Indian Wells if you are keen to explore the possibilities a reverse mortgage can offer you.
Whether you’re in Palm Desert, Rancho Mirage, Palm Springs or anywhere in the Coachella Valley region of Riverside County, Todd’s your man.
Todd has been working in the mortgage industry since starting as a summer temp in 1985.
He openly admits he has no other skills because “this is the profession I enjoy”.
Todd has worked for mortgage brokers, national banks, national independent mortgage bankers – he even ran his own mortgage broker business in Oregon for a decade before relocating to Palm Springs.
He said the job is his passion because mortgage brokers are not limited to the offerings of specific banks or institutions.
“We act as fiduciaries for our clients, something not required of big-box lenders,” Todd said.
“Over the years, I’ve learned that my job is a lot about educating the client about the process, identifying everything that could possibly go wrong and creating a contingency plan ‘just in case’.
“There shouldn’t be any surprises with mortgages. If there is an area of concern with the loan, I’ll be upfront and tell you the plan to work through it.”
Todd is a Certified Reverse Mortgage Planner (CRMP) meaning he is held to a higher ethical standard and has passed a rigid set of guidelines and exams as well as a detailed background check every three years.
That makes Todd someone you can trust!
He is even qualified to teach continuing education classes to CPAs, financial planners and realtors throughout California.
“Reverse mortgages seem like a complicated product but they come with fewer risks and a lot of flexibility and benefits most people don’t appreciate,” he said.
"I look beyond just the current 30-year fixed rate to examine how your mortgage debt aligns with your overall financial goals.
“A 15-year loan sounds great until you remember your children will attend college in the next few years.
“Owning your home free and clear in retirement sounds like a solid plan but drawing down retirement accounts in a stock market downturn or relying solely on Social Security benefits could impact your future financial security.
“Those pains could be mitigated by using the draw features or monthly tenure payments of a reverse mortgage.”
What is a reverse mortgage?
A reverse mortgage is one of the financial system’s most powerful yet largely untapped products.
Why? Because not enough people understand how it can help them.
It is specifically tailored for retirees who are at least 62 years of age and have equity in their homes but are finding daily living expenses are rapidly dwindling their nest eggs.
A reverse mortgage allows them to convert that equity into retirement cash flow so they can live in the home they love for the rest of their life.
Say goodbye to sleepless nights worrying about having to downsize or move into a retirement home against your wishes.
There are a number of different ways that homeowners can access their equity including a lump sum, monthly instalments 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 prices in Indian Wells have increased by 2.7% over the last 12 months to a value of $1,343,427 as of December 2024 (https://www.zillow.com/home-values/25246/indian-wells-ca/).
Overall, 2,442 Indian Wells residents have used a reverse mortgage with 128 of them doing so in the last 12 months.
About Indian Wells, California
Indian Wells, California, is an exclusive desert oasis known for its luxury, leisure, and world-renowned events. Nestled between Palm Desert and La Quinta in the heart of the Coachella Valley, Indian Wells is a small yet prestigious city celebrated for its upscale lifestyle, world-class resorts, and exceptional golf courses. With stunning views of the surrounding Santa Rosa Mountains, Indian Wells offers a serene and picturesque setting that attracts both residents and visitors seeking a sophisticated desert escape.
One of Indian Wells’ most iconic attractions is the Indian Wells Tennis Garden, home to the annual BNP Paribas Open, one of the most prestigious tennis tournaments in the world. This state-of-the-art facility draws thousands of fans each year to watch top-ranked players compete. Golf enthusiasts are equally spoiled, as Indian Wells is home to several award-winning courses, including the Indian Wells Golf Resort, which boasts two championship courses and spectacular desert vistas.
Indian Wells also offers an array of luxury resorts, spas, and fine dining options that cater to those seeking relaxation and indulgence. Resorts like the Hyatt Regency Indian Wells Resort & Spa and the Renaissance Esmeralda Resort & Spa provide world-class amenities, from rejuvenating spa treatments to exquisite culinary experiences. For those who enjoy cultural and community events, Indian Wells hosts a variety of seasonal activities, including art shows and outdoor concerts, which further enhance its reputation as a cultural hub.
Despite its reputation for luxury, Indian Wells maintains a warm and welcoming community atmosphere. The city is known for its meticulous landscaping, safe neighborhoods, and high quality of life, making it a sought-after destination for retirees, second-home buyers, and those looking to enjoy the tranquility of desert living. Its central location in the Coachella Valley provides easy access to nearby cities, shopping, and entertainment while maintaining its exclusive and serene charm.
As a reverse mortgage loan officer serving Indian Wells, I understand the unique needs of homeowners in this prestigious community. Whether you’re exploring options to access your home equity or enhance your retirement lifestyle, I’m here to provide personalized guidance every step of the way. With its unmatched beauty, luxury amenities, and vibrant community spirit, Indian Wells is truly a one-of-a-kind place to call home.
Contact your Indian Wells reverse mortgage lender today.
Todd and his Contempo Lending team are standing by to offer anyone guidance about the value of a reverse mortgage.
As a mortgage professional with more than 30 years of experience, my passion is to find financing solutions for all my clients whether you’re a first-time home buyer, wanting to trade up, entering retirement or even if your loan was declined by someone else,” Todd said.
I solve problems so you can realize your dreams.
Give me a call today on (760) 808-4500.
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