Reverse Mortgages Near You - Palm Desert 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 Palm Desert, California.
Todd Walcott and Contempo Lending are the professionals you should talk with in Palm Desert if you are keen to explore the possibilities a reverse mortgage can offer you.
Whether you’re in Palm Springs, Rancho Mirage, Indian Wells 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 Palm Desert have slightly decreased by 1.5% over the last 12 months to a value of $557,564 as of December 2024 (https://www.zillow.com/home-values/33306/palm-desert-ca/).
Overall, 2,422 Palm Desert residents have used a reverse mortgage with 123 of them doing so in the last 12 months.
About Palm Desert, California
Palm Desert, California, is a vibrant city nestled in the heart of the Coachella Valley, known for its stunning desert landscapes, world-class shopping, and thriving cultural scene. Located just east of Rancho Mirage and west of Indian Wells, Palm Desert is a favorite destination for visitors and an idyllic home for those who enjoy year-round sunshine and a welcoming community.
At the heart of Palm Desert is the famous El Paseo Shopping District, often called the “Rodeo Drive of the Desert.” This upscale shopping and dining destination features a mix of luxury boutiques, art galleries, and gourmet restaurants, making it the perfect place for a day of leisure and indulgence. The city also boasts a robust arts scene, with attractions like the Palm Springs Art Museum in Palm Desert and the McCallum Theatre, which hosts live performances ranging from Broadway shows to concerts.
Nature lovers are drawn to Palm Desert’s breathtaking outdoor spaces, including the Living Desert Zoo and Gardens, a unique attraction that showcases desert plants and animals from around the world. For hiking enthusiasts, the nearby Santa Rosa and San Jacinto Mountains National Monument offers picturesque trails with stunning views of the Coachella Valley. Residents and visitors alike enjoy the city’s many parks, golf courses, and recreational activities, which make the most of the area’s beautiful desert environment.
Palm Desert is also known for its strong sense of community and focus on education. The city is home to the California State University, San Bernardino Palm Desert Campus, and a variety of other educational and cultural programs that enrich the lives of residents. With its diverse population, exceptional amenities, and a laid-back desert lifestyle, Palm Desert has something to offer for everyone, from retirees to young families.
As a reverse mortgage loan officer serving Palm Desert, I’m committed to helping homeowners discover financial options that support their goals. Whether you’re looking to enhance your retirement income or access the equity in your home, I’m here to provide guidance tailored to your needs. Palm Desert’s unique blend of luxury, natural beauty, and community spirit makes it a truly special place to call home.
Contact your Palm Desert 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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