Gardena Reverse Mortgage Loans
Many Seniors today are using a Gardena 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 Gardena CA
The best way to find out if a Gardena 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 Gardena 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 Gardena 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 Gardena reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Gardena reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Gardena
- To receive personalized Gardena 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
Gardena Tidbits
The famous Civil War general named William Rosecrans was the eventual owner of the area currently known as Los Angeles County, which later became the community of Gardena and one of the earliest pioneers in the region. William Rosecrans purchased 16,000 acres of property that bordered about between what is currently known as Redondo Beach Boulevard to the south, Florence Avenue to the north, Central Avenue to the east, and Crenshaw Boulevard to the west.Much of the origins of the Rosecrans ranch house was explained in an interview with William Rosecrans III, who was the grandson of William Rosecrans, conducted by Claremont College in 1963. The grandson described the old ranch house that used to be located on the southeastern corner of Vermont and Rosecrans, originally being built by a man named Kleghorn. The Southern Pacific Railroad convinced Mr. Kleghorn into constructing the site next to their railroad in order to prevent general Rosecrans from filing a lawsuit in order to recover stock in the company that he considered the company owed him. The plan of the railroad was to try to prove that another man owned the land before general Rosecrans, who needed it in order to provide funding to pay for the lawsuit. Mr. Kleghorn was unaware he was being used by the Rosecrans and the railroad and was eventually successful in securing the ownership of the land. However, he eventually lost the lawsuit to recover the stock in the railroad that he considered was owed to him.
Additionally, the house was described as constructed from board and batten that had a shake roof and an approximate 14 foot wide main building. The house was comprised of a master bedroom, a living room, and a dining room. Although the kitchen didn't have any indoor plumbing or running water, it did have a wood stove. In order to accommodate the general as the result of the decline of his health, a new kitchen was built in 1893 that offered running water. In 1898, he passed away on his ranch, and, following a temporary burial at Saint Vibiana's Cathedral in Los Angeles, was finally buried at Arlington National Cemetery. The son of the general, named Carl continued to reside in the old home with his family. In 1924, the old home finally had electricity installed.
During the early 1900's, life on the ranch was primarily remote and mostly peaceful. During this time, the grandson of the general described the whole landscape of Gardena as not having any billboards and being full of wildflowers with no unpleasant looking improvements. The total population of Gardena at the time was about 150 people and the closest store was a grocery store owned by a man named Herbert Jeffers. The old store building remains standing at 825 Gardena Boulevard and is currently the home of the Gardena Hotel. The road that ran west to east next to the house had become known as Rosecrans Avenue over time, as the result of the old home being considered an early landmark. The street was described as just an unimproved, unoiled, and ungraded road that was perhaps twenty feet wide that had in the afternoon, had dust blowing by the house.
Frequently, the Rosecrans home would have some of the necessities of life delivered. Although the tinker had no set schedule, he came about every six weeks. The tinker did soldering and repaired the pots and pans. Approximately once every month a man arrived with ordinary linin, thread, buttons, and notions. Once every month the pickle man arrived with sauerkraut and pickles. Once every week, the beer man arrived to deliver beer from the Meyer Brewery. Once every Friday a fish man from San Pedro, and later from Redondo Beach arrived to deliver fish. Although there wasn't any refrigeration, every day meat arrived.
The son of the general named carl attempted some dry farming at the ranch, following the death of the general, and planted ten acre orchards that were full of deciduous fruit trees that included pears, peaches and apricots. In order to advertise the high quality if his fruit, he later exhibited his to the Los Angeles Chamber of Commerce. The signs next to the fruit advertised that the fruit was gown without irrigation on the Rosecrans Ranch. During the early stages of this enterprise dried fruit sold for about between 20 and 25 cents per pound, which was a good price. However, it wasn't long before the price dropped to around six cents per pound as the result of an overabundance of the fruit. Eventually the orchards became unprofitable as the result of this drop in price in combination with a prolonged drought.
Between the late 1940's and the early 1950's, new businesses and homes had started to cover the majority of the remainder of the former Rosecrans Ranch. Finally, in order to make way for commercial development, the old house was demolished. However, the grandson of the general donated part of the former ranch so that it could be dedicated as a park in 1948. It is still located north of Redondo Beach Boulevard on Vermont Avenue, as a memorial to his parents Carl and Lillian Rosecrans, who lived in the old home from 1888 until they passed away.
