Culver City Reverse Mortgage Loans
Many Seniors today are using a Culver City reverse mortgage to enhance their retirement. The Home Equity Conversion Mortgage or (HECM) is the government insured mortgage provided by private lenders and insured by the Federal Housing Administration.A reverse mortgage may be a good option for you if you would like to:
- Live independently in your own home and maintain ownership
- Make home improvements and other enhancements
- Eliminate the monthly principal and interest payment on your mortgage
- Have more liquidity with a line of credit
The question that most people ask is how exactly does this all work.
You may qualify if:
- One homeowner is at least 62 years’ old
- The home is your primary residence
- The loan proceeds are enough to pay off your existing loan and closing costs
- Pass Financial Assessment in underwriting
Reverse Mortgages Broker Culver City CA
The best way to find out if a Culver City reverse mortgage is right for you is to begin with education. Our President, John Barlow, has written an informative book called “Understanding Reverse Mortgages”. He discusses all of the ins and outs of this product and shows three examples of clients using a Culver City reverse mortgage who have different situations. You can find the book here on Amazon, www.amazon.com/author/jbarlow. The next phase is to give us a call to see what your loan proceeds will be and which advantages apply to you. The loan amount will be determined by the appraised value or max claim amount, age of the youngest borrower or a non-borrowing spouse, and the expected interest rate.Reverse Mortgage Culver City CA
Sound Financial Mortgage LLC believes in supplying our customers with a solid education, outstanding service, and a wide variety of product options to meet your needs. We believe in honesty and integrity and we will always work to maintain your trust. If you are interested in learning more about Culver City reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Culver City reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Culver City
- To receive personalized Culver City reverse mortgage information
- Like to learn more about how it works and if it is right for you
- To find out more information about reverse mortgages
- If you are interested in learning more about the advantages vs. disadvantages
- If you would like more information on reverse mortgage counseling
- To determine eligibility requirements and how much you may qualify to receive
Culver City Tidbits
The history of Culver began when the Expo Line in Culver City station opened. Even after the establishment of three streetcar lines at the junction of three streetcar lines, since 1953 the Westside community of Culver City has been without passenger rail service.Culver City rapidly became known as the Heart of Screenland in 1913, from the barley fields of the former Rancho La Ballona. This community became a star studded movie community that had several movie production facilities and two major studios. Although, many moviegoers outside of Southern California were probably unaware, these movies were actually produced in Culver City, which was many miles from Hollywood.
The namesake of Culver City was an entrepreneur named Harry Culver. Mr. Culver was born in Nebraska and arrived in Southern California in 1910 and began a flourishing real estate business. Mr. Culver sold over 1.5 million in acreage in the primarily rural coastal plain that was vast. This plain ran beyond the urbanized core of Los Angles.
Mr. Culver realized that there was value in the development of a community that was centrally located between the resort community of Venice and downtown Los Angeles at the foot of Baldwin Hills as the result of his experience as a real estate agent. Los Angeles was in the middle of a population boom that saw that community spilling over its historical boundaries. Mr. Culver announced his plans for a new community to a group of investors that had assembled inside the California Club in 1913.
However, Mr. Culver wasn't the first to determine that the region was suitable for settlement. The Gabrielino had established their village of Saa'anga on the close by banks of Ballona Creek centuries earlier, and, in 1886, the nearby community of Palms had been founded next to the tracks of the Los Angeles and Independence.
However, Mr. Culver carefully selected the location for his community at the junction of many important routes for transportation. Early marketing materials claimed that all roads lead to Culver City, and boasted about the community's three fast red car lines, which were the Santa Monica Air Line, the Del Rey Line, and the Venice Short Line. There were also the three splendid Boulevards, which were the Pico, the national, and the Washington.
Officially, the community was opened to the public in 1913. Culver City rapidly outgrew its original 250 residential lots and 93 acres. In 1914, the new community celebrated its first year anniversary and the community had parried an annexation attempt by Los Angeles and already had a macaroni factory, a cyclecar factory, and the Pacific Electric depot. The year 1917 brought the incorporation of Culver as a city and the community had increased in size to 770 acres.
The movie industry became the foundation for the economy of the community although during the early years, macaroni might have sustained Culver City. Mr. Culver was inspired to convert the growing community into a movie community as the result of a local movie shoot according to local legend. Mr. Culver looked on as next to the banks of Ballona Creek, filmmaker Thomas Ince filmed a silent western that was complete with canoes carrying painted Indians. Mr. Culver approached Mr. Ince and convinced him to relocate his studio to a 16 acre parcel of land between Culver and Washington boulevards following the movie shoot.
In 1915, the location, which was named Triangle Studios by Mr. Ince, was opened. Samuel Goldwyn purchased the facility some three years later and it became MGM (Metro-Goldwin-Mayer) studios in 1924. The MGM Studios had an artificial lake, false streets, and sound stages and eventually sprawled over many city blocks and encompassed many different distinct movie lots. MGM produced numerous classic movies on the campus of Culver City, such as Ben Hur, Singing in the Rain, and The Wizard of Oz during the next few decades.
In the meantime, in 1918, Mr. Ince had opened another studio some blocks down from Washington Boulevard. In 1924, following the mysterious death of the filmmaker, the Thomas Ince Studio property passed through several owners, that included Desilu Productions by Desi Arnaz and Lucille Ball, RKO Pictures and Cecil B. DeMille. In 1939, David O. Selznick produced Gone with the Wind and in 1940, Orson Welles filmed Citizen Kane. Sometime later, Desilu produced the pilot episode of Star Trek and the Andy Griffith Show inside the soundstages in Culver City. These days, the historic studio is continuing to operate as an independent production facility.
In 1922, other industries were added to the movie business in Culver City when Western Stove established its factory. Departing daily from the Helm Bakery was a fleet of coaches that delivered baked goods, such as loaves of Olympic Bread starting in 1931 to households all over Southern California. In addition to tax revenue to the community, Hughes Aircraft and the Culver City Airport provided employment for Culver City. .
The population of Culver City increased to almost 9,000 people in 1940 from 503 people in 1920. The community became a flourishing residential suburb that was promoted by real estate developers as a seaward community based on its close proximity to universities, jobs, and beaches.
While the ads boasted that all roads led to Culver City, that wasn't really the case. However, the imminent opening of the Expo Line station in Culver City soon transported more white settlers to the community. As a result, Culver City arose from the barley fields of Rancho La Ballona and expanded into the Heart of Screenland.
