Palm Desert Reverse Mortgage Loans
Many Seniors today are using a Palm Desert 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 Palm Desert CA
The best way to find out if a Palm Desert 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 Palm Desert 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 Palm Desert 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 Palm Desert reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Palm Desert reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Palm Desert
- To receive personalized Palm Desert 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
Palm Desert Tidbits
Palm Desert, California is located 60 miles east of Riverside, California, 34 miles east of Hemet, California, 122 miles east of Los Angeles, and 14 miles east of Palm Springs in Riverside County. It is also located in the in the Coachella Valley. As the result of the numerous tourists who arrive in Palm Desert every winter to enjoy the opportunity to hike, play water sports, golf, go bicycle riding, play tennis, enjoy the scenic views, and enjoy the warm weather, it the wintertime the population of Palm Desert increases tremendously. In the summertime, the community of Palm Desert offers a hot, dry desert climate. Many different celebrities have homes in Palm Desert. There are a very large number of people from all around the world as well as a very large number of people who are retired living in the community of Palm Desert.According to the census that was taken in 2010, the population of Palm Desert was 48,445 people as compared to 41,155 according to the census that was taken in 2000. Between the 1980's and the 1990's the community of palm Desert was one of the fastest growing communities in the state of California. In 1980 the population of Palm Desert was11,801 people, which in 1990, increased to 23,650 people and in 1995 increased again to 35,000 people, and by 2000 the population had almost doubled.
Because the community of Palm Desert is such as popular retreat for those people who want to get away from the cold weather in the wintertime where they live in the northern and eastern US, the community one of the primary centers of growth in the Palm Springs region. Every winter the population of Palm Desert increases by an approximate 31,000 people. The Palm Desert area has had an increase in the number of full time residents that are primarily from the urban centers and the coasts of California, who have come for both home prices that are high value and affordable.
Although the community was renamed to Palm Village during the 1920's, the original name of the community was the Old MacDonald Ranch. The reason for the name change was because of all of the date palms that were planted. The primary residents of Palm Desert prior to 1950 were the Cahuilla Indians, who were farmers of the currently extinct San Cayetano tribe. However some members of the Montoya family of Spanish/Cahuilla ancestry were prominent leaders in civic affairs.
The region was labeled as a sand hole on the early maps. There were some lots sold and homes built during the 1930's in a development known as Palm Village that was located north of Highway 111. General Patton came to the Colorado Desert in order to train for African warfare during WW II. However, nobody ever conceived of the idea that the area would become a world class resort destination. That is nobody with the exception of a man named Cliff Henderson and his brothers Carl, Phil, and Randall, along with their investors named Harold Lloyd, Leonard Firestone, and Edgar Bergen and their brother-in-law named Tommy Tomson, who transformed the sand hole into a first class resort community known as Palm Desert.
The first glimpse that the brothers had of the Santa Rosa Mountains and Deep Canyon triggered the potential and magic of this area. They envisioned a culture that would attract families and visitors from all over the country, churches, schools, and fine homes and swimming pools.
With the development of some 1,600 acres of land by the Henderson brothers the construction Desert Magazine Building and the Shadow Mountain Club started right away. There was a new energy and spirit evolving. In connection with an Army camp in the region, in 1943, the first residential development was established. Later that location was developed into an upscale shopping district that wasn't unlike those on Rodeo Drive, known as El Paseo. Real estate was starting to be developed by the Palm Desert Corporation in 1948, and the region was given the name of Palm Desert in 1951.
Palm Desert is the home of several celebrities such as film producers named Robert Velo and Jerry Weintraub, in addition to Bill Gates professional golfer Michelle Wie, as well as Rita Rudner. The year 1973 brought the incorporation of Palm Desert, which at that time had a population of 1,500 people. At that time, Palm Desert was a master planned community located in the desert that, at one time stretched between Indio and Palm Springs.
There are many attractions in Palm Desert. Visitors and their families can enjoy balloon flights, the very popular Desert Willow Golf Resort, many different sports activities in Civic Center Park, the nearby Joshua Tree National Park, tennis, and the , Hopalong Cassidy Trail is popular for horseback riding, hiking, and riding bicycles.
Palm Desert is home to the University of California at Riverside, the campuses of California State University at San Bernardino, and the campus of the College of the Desert. Palm Desert is served by Palm Springs International Airport.
