Why Pico Rivera Homeowners Choose Reverse Mortgages
Pico Rivera is part of Los Angeles County in the Southeast Los Angeles area. With a median home value of approximately $660,000 and a senior population of over 16,000+, the city has a strong market of homeowners who may benefit from accessing their home equity.
Tucked between the San Gabriel River and Whittier Narrows, Pico Rivera has long been a place where families put down roots and never leave — many of the modest single-story homes here have passed from parents to children and grandchildren. After a lifetime of work, a good number of these longtime owners hold their property free and clear but feel the pinch of rising costs on a fixed income. A reverse mortgage lets them draw on the capital in their home, as a lump sum, monthly funds, or a line of credit, while staying in the neighborhood they helped build, and Miguel A. Vazquez explains every option in Spanish or English.
- Pico Rivera has a predominantly Latino homeowner base with deep multi-generational community ties
- Many Pico Rivera seniors have lived in their homes since the 1970s and 1980s, building enormous equity
- The city's proximity to employment centers has kept property values steadily rising
