Bend Reverse Mortgage Loans
Many Seniors today are using a Bend 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 Bend OR
The best way to find out if a Bend 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 Bend 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 Bend OR
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 Bend reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Bend reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Bend
- To receive personalized Bend 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
Bend Tidbits
According to the census taken in 2000, the population of Bend, Oregon was 52,029 people. The population increased to 76,693 people by the 2010 census. According to the census that was taken in 2012, the population of the community again increased to 79,109 people. Bend is a city in and the county seat of Deschutes County. Bend is the largest city in Central Oregon in spite of its small size. As a result of the low population of the region, Bend is the de facto metropolis of the area.The first white explorers didn't arrive in the Bend region until 1834, so far as is known. These white explorers were members of a party led by a man named Nathaniel Wyeth and were hunting beaver on their camp on the Columbia River. Between year 1825 and 1826, a man named Peter Ogden had arrived in Central Oregon before the Wyeth party arrived in the region. However, Mr. Ogden's beaver trail took him up Crooked River and east into the John Day Valley past the Prineville location. By the time the next explorers arrived in the region, the trail left by the Wyeth party was pretty well erased. That party was led by a man named John Fremont. Just west of Bend and south to the Klamath Marsh region, the party carried acannon over Tumalo Creek prior to crossing the highlands into the lake country and naming Summer Lake.
Undoubtedly, gold prospectors crossed near to the current Bend location while they were rushing to the John Day Valley with promise of golden riches in 1862. However, no trace of their visit was ever found. In order to benefit from the beautiful meadows of the upper Deschutes country, the pioneer stockman arrived in the area next. Although his identity remains unknown, an earlier stockman filed on a portion on the current location of Bend in 1874. He was only a number in the U.S. Land Office records. Others filed on the same land later. A man named Tom Greer was one of these early claimants.
In 1877, a man named John Todd came from Tygh Valley to purchase the relinquished right of Tom Greer to the pioneer ranch for two saddle horses and $60. The pioneer ranch is currently known as the Old Mill District and was located close to the former Brooks Scanlon factory. At that ranch, the travelers saw their last view of the beautiful sweep around the great bends of the Deschutes.
During those pioneer days, there was no consideration given to any kind of community at what is currently known as the Bend area. However, a Midwest capitalist named Alexander Drake arrived in 1900. Mr. Drake had heard about the possibilities of irrigating the upper Deschutes country. The Pilot Butte Development Company was founded by Mr. Drake. Building a lodge was the start of the Bend area. The year 1904 brought the incorporation of Bend. In 1905, officers took over their duties. The first mayor was a man named A Goodwillie.
When the future of Bend was still uncertain, there was a controversy about the name for the new community. A man named William Staats filed a claim on the Deschutes close to the ranch during the late 1870s. Two men named John Todd and John Sizemore made a rival bid for travelers. For a time each had a post office and each had a stopping place. Mr. Staats named the community Deschutes. Others called the community Staats. Mr. Drake wanted the community to be named Pilot Butte. Others want the name to be Farewell Bend. However, officials from the Washington D. C. Post Office Department determined that Farewell Bend was too long and they finally decided on the name of Bend. Bend eventually absorbed Deschutes after Bend was incorporated.
In 1928, Bend changed from a council form of government to a city commission. There were three commissioners and a city manager. Under this new form of government, the first mayor was a man named George Gove. The first city manager was a man named C Reiter. The mayor was elected from within their own ranks by the other commissioners. Later, the charter was changed and required seven commissioners. This charted was redrafted in 1995 to change the title of the elected representatives from commissioner to councilor. The Mayor's peers continue to elect him or her.
Of the population of Bend, 66,911 people or 83.7% are white, 6,256 or 8.2% are Hispanic, 1,256 or 2.0% are at least two races, 918 or 1.2% are Asian, 486 or 0.6% are American Indian, 333 or 0.4% are Black, 89 or 0.1% are Pacific Islanders or Native Hawaiian, and 80 or 0.1% are other races.
Of the population who are at least 25 years old in Bend, 95.8% have at least a high school education, 38.2% have a Bachelor's Degree or greater, 14.7% have a professional or Graduate Degree, and 4.3% are unemployed.
