Why South Gate Homeowners Choose Reverse Mortgages
South Gate is part of Los Angeles County in the Southeast Los Angeles area. With a median home value of approximately $590,000 and a senior population of over 17,000+, the city has a strong market of homeowners who may benefit from accessing their home equity.
Known as one of the gateways into Southeast LA, South Gate is a tightly knit, mostly Latino community where the same families have held their homes along Hollydale and the streets near Tweedy Boulevard for many years. A large share of these owners have little or no mortgage left, even as everyday costs keep climbing on a fixed income. A reverse mortgage lets them tap the capital in their home without selling or taking on a monthly payment, so they can stay close to family and the parish, and Miguel A. Vazquez walks every homeowner through the details in Spanish or English at no cost.
- South Gate homeowners benefit from LA County's strong appreciation trend across Southeast communities
- The city's large Latino population is a primary market for bilingual reverse mortgage education
- Many South Gate seniors own their homes with little or no remaining mortgage balance
