Eugene Reverse Mortgage Loans
Many Seniors today are using an Eugene 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 Eugene OR
The best way to find out if an Eugene 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 an Eugene 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 Eugene 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 Eugene reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Eugene reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Eugene
- To receive personalized Eugene 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
Eugene Tidbits
In 1846, a man named Eugene Skinner settled what is currently known as Eugene. The location was at the base of a mountain peak and was inhabited the Calapooya tribe. In 1852, a Judge named Risdon and Mr. Skinner laid out a site for the community. Within the corporate limits of the community, Judge Risdon built the first house. However, heavy rains foiled the attempts to establish the new community and it was nicknamed Skinner's Mud Hole. Construction only succeeded when the settlers relocated to higher ground. The small community was selected as the county seat of the recently created Lane County in 1853. That same year, the first post office was constructed in the area. The year 1864 brought the incorporation of Eugene. In 1876, Eugene became the home of the University of Oregon.During the early years of the history of Eugene, transportation, milling, and agriculture were the primary industries. Between the late 1850s and 1871, a steady steamship trade was conducted between the Portland and Eugene. However, the end of water transportation was brought about by the construction of the Oregon and California Railroad. The population of Eugene was 1,200 people by the end of the Civil War. Eugene was also becoming highly industrialized. The primary industry was lumber and the community was the location of box factories, planing mills, shingle mills, and sawmills. Excelsior was produced from the indigenous balm and cottonwood trees. Another important part of the economy was mining. Wheat was the primary crop as agriculture continued to expand.
Soon, many farmers began dairy farming and growing fruit. Flour mills, canneries, and creameries were constructed to process the agricultural products. In 1872, the University of Oregon was established and became a major influence on the community as a center for education and culture. However, Eugene maintained a comfortable living environment for the residents despite the development of industry. Eugene was noted for the shade trees that lined the streets, which were home to landscaped lawns and well-kept homes. Impressive concrete and brick buildings occupied the business districts. Eugene had also become a cultural center for the area with its major university. By the middle 1900s the population of Eugene steadily increased. In 1967, the population of Eugene was almost 51,000 people. The population was more than 100,000 by 1980. However, during the early 1980s, this expansion was halted by a slowdown in the lumber industry.
During the middle 2000s, Eugene was flourishing. The community continues to be a center for wood and lumber and it is where a great percentage of the plywood in the country is produced. Also, the wine and vineyard industry is thriving. Eugene has also become an increasingly important center for Oregon high tech industries and businesses. The metropolitan area of Eugene has a population of over 333,000 people being served by professional, educational, industrial, and retail enterprises and institutions. In the Pacific Northwest, Eugene is the 4th largest market.
Many trends in the US originated in Eugene. In the early 1970s the participatory process called the Oregon experiment originated as a result of student protests originated at the University of Oregon. In architectural and planning circles, a book of the same name is a primary document in modern enlightenment thinking. In a modified form, the process is still being used by the university. A man named Christopher Alexander created the process and the creation of the Wiki was also directly inspired by him. Mr. Alexander also did some of the research for the book named A Pattern Language, which inspired the Extreme programming and Design Patterns movement.
Eugene was loaded with community and cooperative projects during the 1970s. Since 1971, Eugene has been home to alternative schools as part of the school district. It is also home to some of the oldest student cooperatives in the nation. In many neighborhoods, Eugene still has small natural food stores. The only food corporative in the country that has no employees is located downtown close to the Amtrak depot and is known as the Old Grower's Market. Some of the trendsetting, nonprofit tendencies are also evident in much newer projects, including the Center for Appropriate Transport and the Tango Center. In downtown Eugene, an initiative was started to create a development that was run by tenants in 2006.
There is an active Neighborhood Program in the community of Eugene. Many different neighborhoods are known for their activism in green projects. On a proposed street, a very popular neighborhood garden was established by Friendly Neighborhood. There are several different community gardens located on public property. A former church was converted into a community center by Amazon Neighborhood. A housing coop that dates back to the early 1970s was repurposed into both a play and food production space from parking lots. In the Jefferson Westside neighborhood, there is an unusual eco-village with a large shared garden and natural building techniques. In the River Road neighborhood, there is a Permaculture hotspot located in an area encompassing several blocks. It has an increasing number of suburban homes that are installing solar retrofits, installing rain catchment systems, producing landscapes, and trading grass for gardens. Several locations have removed driveways and have planted gardens. On public property, citizen volunteers are restoring a 65 tree filbert grove.
In the neighborhoods of Eugene there are ever deepening economic and social networks.
