Colorado's HECM Demand Stays Strong
Colorado's Home Equity Conversion Mortgage market is continuing its success from 2018 as Reverse Mortgage Daily points out in a recent local spotlight piece.
According to the spotlight piece, experts in the industry are looking to do the same amount of business as 2018 if not more and RMD also revealed that the long-term future also holds plenty of promise.
"By 2030, the Colorado State Demography Office predicts that the 65-and-older population will rise to 1.27 million, a 77% increase from 2015," according to RMD.
"Much of this growth comes from the state’s residents who are aging in place, according to US News, which named Colorado the best state to age in America in 2017."
According to Donald Opeka, president of Orion Mortgage, Inc. in Broomfield, Colorado a good amount of his borrowers came for the energy business or government work in the 70s and never left.
The only struggle that continues to plague not just Colorado but the nation, is the ability to educate folks on the particulars of HECMs.
To learn more about the HECM business in Colorado and why it has been so successful over the past couple of years, click on the image above.
