Wow...what a number...and the purpose of this article is to help you realize the need to position yourself immediately (if you haven't done so already) to get your fair share of this exploding niche mortgage market! We're talking of course about our hot new niche...the "Reverse Mortgage" market.
Just so you know, here's how we arrived at 12,200 number: There are many that deal in statistics that suggest that about every seven (7) seconds someone in the United States turns 62 years of age, placing them in our elite group know as "Seniors" and eligible for a Reverse Mortgage loan.
So...based on the seven (7) second number, here's how all of this happens to works out...
1 new Senior prospect is added every 7 seconds,
8.57 new Senior prospects are added every minute,
510 new Senior prospects are added every hour,
12,240 new Senior prospects are added every day (24 hrs),
85,680 new Senior prospects are added every week,
342,720 new Senior prospects are added every month,
4,455,360 new Senior prospects are added every year (52 wk/yr).
In every day kind of terms...
If you spend two (2) hours shopping, running errands, or goofing off...1,020 Seniors will have been added,
If you average seven hours of sleep each night...3,570 Seniors will have been added,
If you take the weekend off...24,480 Seniors will have been added,
If it's a three (3) day holiday weekend...36,720 Seniors will have been added,
If you take a one (1) week vacation...85,680 Seniors will have been added,
If you watch television just one (1) per day for one (1) year ...186,150 Seniors will have been added,
If you take three (3) months to convince yourself that you should be involved...1,028,160 Seniors will have been added.
You're right if you're thinking that not all Seniors are property owners and eligible for a Reverse Mortgage. In fact, only 87% actually do. But, the new Reverse Mortgage purchase program recently announced will impact that number and increase your prospect numbers.
Now...If you think that your marketing area is a little light as far as the number of Seniors...think again! Here are some numbers from Senior Journal. The numbers are a little dated, but here's the top twenty (20) states according to them...
California 3,764,870
Florida 2,897,383
New York 2,488,959
Texas 2,175,256
Pennsylvania 1,901,764
Ohio 1,516,771
Illinois 1,507,377
Michigan 1,236,501
New Jersey 1,123,842
North Carolina 1,016,214
Massachusetts 856,982
Virginia 833,427
Georgia 826,506
Indiana 763,059
Missouri 759,980
Tennessee 726,683
Arizona 714,467
Wisconsin 711,987
Washington 690,583
Maryland 624,980
And, the states with the highest percent increase of Seniors during their ten (10) year tracking period...Nevada, Alaska, Arizona, New Mexico, and Colorado.
Every state in the union has a good Senior population, and it's just not growing...it's exploding. So...you can sit on the sidelines, complain about the current state of affairs, watch it all happen, and miss this great opportunity...or you can get involved, originate some mortgages, and guarantee your success for many years to come.
As a side note...if you took two (2) minutes to read this...14 new Reverse Mortgage prospects were added to the list. These are numbers you can fall in love with...so, I would be interested in your decision about being involved in the Reverse Mortgage market. Please feel free to let me know what that is!
Author Resource:-
Tom Domin is a founder of The Reverse Mortgage Mentor membership training site. Put your mortgage production back-on-track with the very best Reverse Mortgage marketing training. Sign-up for our $1.00 ten (10) day trial membership at http://www.TheReverseMortgageMentor.com/
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