Los Angeles Reverse Mortgage Loans
Many Seniors today are using a Los Angeles 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 Los Angeles CA
The best way to find out if a Los Angeles 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 Los Angeles 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 Los Angeles 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 Los Angeles reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Los Angeles reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Los Angeles
- To receive personalized Los Angeles 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
Los Angeles Tidbits
Clustered in villages on the banks and shore of rivers, hunters and gatherers lived for thousands of years prior to the first settlers from Europe started arriving in Southern California. When the first Spanish and Mexican settlers started arriving in the area about 1769, the basin was populated by the Serrano, Luiseño, Cupeño, and Cahuilla Indian tribes. There was a population of 10,000 Indian in 50 different communities in the Cahuilla in Riverside.The Mexican Rivera Moncada commanded the Mexican troops and the leaders of the expeditions were Junipero Serra and Gaspar de Portola. In addition there 12 artisans, a group of Franciscan missionaries, 25 Catalan soldiers, and 80 indigenous people from Baja California.
In 1781, a permanent colonial settlement was established that came to be known as El Pueblo de Nuestra Señora de los Angeles di Porciúncula. in honor of the shrine to Santa Maria degli Angeli, the Virgin Mary. Governor Felipe de Neve was responsible for the construction of a community and a Presidio. In an effort to attract 24 families, he asked for volunteers to become available from Mexico. He only attracted 11 families.
Rather than constructing the community by the ocean where it would have been exposed to attacks, it was constructed inland on the broad river that ran through the valley known as Rio Porciúncula. It was centered around a rectangle that consisted of a granary, a town house, a community plaza, and a guardhouse in the conventional style of the Spanish. The families were provided with benefits including tools and tax exemptions and received lots to farm and build on.
The attackers intended to reproduce the characteristic Spanish civil populations, the army, the division between the clergy, the presidios, the missions, the institutions, and the social arrangements. The indigenous women marries adventurers and soldiers and tracked their children by the degrees of intermarriage. The agendas, such as the defense of New Spain against the hostile Europeans, the control, training, and formation of the labor force, the attempted pacification of the natives that were hostile to colonization, and the religious conversion of the of the indigenous people were dictated by colonial imperative. The use of land was dominated by the constant expansion of grazing land for cattle, the development of mining districts, and the cultivation of Old World crops.
There were 26 Gabrielino Indian villages within only a few miles of the river that were all capable of surviving without cultivating crops as the result of the abundant bounty of the river that ran through a dense forest of wild grape, elderberry, sycamore and willow when Gaspar de Portola led the first Spanish land expedition into Southern California in 1768. The river sometimes overflowed into vast marshlands that were home to many different small animals and waterfowl. Grizzly bears roamed the shores of the river looking for food and steelhead trout spawned in it. The vegetation that covering much of Los Angeles wasn't the desert chaparral and scrub and chaparral that currently appears on lawns that are left unattended for weeks. However, there was an impenetrable jungle of dense woods, thickets, and marshes. The majority of Beverly Hills was a fetid swamp.
By the 1850's the plain that was once covered with trees was now desolate and barren. The river had been diverted into many different drainage ditches that frequently spilled over with foul matter and garbage, the wetlands were dried up, and forests had been felled. By the next century, the river had simply dried up for the majority of the year and the stream that had once been abundant had become a laughing stock that, in the years that have since intervened, has become no better, although it once flowed abundantly close to the near downtown area all year round. The coffin was already closed on a river that was dead at the time the US Army Corps of Engineers had lined the banks of the river with cement. These days, almost all of the water that now flows in the river is street runoff, authorized industrial discharges, and treated sewage. The Los Angeles River has become the most misnamed sewage slough in the world.
Pueblos and Missions were placed next to indigenous villages in order to be in close proximity to sources of forced labor. The desolated locations were replaced with ranchos. Ranchos were replaced with boomtowns. The current downtown area is located close to the location of Redondo at Engnovagna, San Pedro at Tsavingna, and the location of Yangna. The trails between villages became roads and, eventually freeways.
Because of grants of land, very large ranchos dominated this Spanish period. In 1784, Rancho San Pedro, that was to become known locally as the Dominguez Ranch started out as a gift of 75,000 acres of land. It is currently a museum. In 1852, the historic Gilmore Adobe was constructed. The original building had a brea roof from the La Brea Tar Pits and two rooms with packed dirt floors. These days, it is the location of the Farmer's Market.
