Auburn Reverse Mortgage Loans
Many Seniors today are using an Auburn 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 Auburn WA
The best way to find out if an Auburn 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 Auburn 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 Auburn WA
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 Auburn reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Auburn reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Auburn
- To receive personalized Auburn 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
Auburn Tidbits
During the 1850s, settlers arrived in the valley. It was a perfect location for hardworking fishermen and farmers who wanted to sell their wares because of the close proximity to the mountain passes, Puget Sound, abundant salmon, and arable land.All over the Puget Sound area, treaties had been signed with Indian tribes by 1855. However, the Snohomish and the Snoqualmie Indian tribe were less reluctant to be relocated than the White River Indians. In late 1855, some of the local Indians started fighting back.
That same year nine people were killed by an Indian ambush, including children and women. Some of the children were helped to escape to Seattle by local natives. This started what came to be known as the Seattle Indian Wars.
Later that same year a military unit was dispatched from Fort Steilacoom. They camped close to what is currently known as Auburn and were led by Lieutenant William Slaughter. Indians attacked and killed Slaughter while he was conferring with another officer.
The war was quickly over when additional troops were brought into the region, and the Indians retreated. A new treaty was written and signed that provided for the establishment of the Muckleshoot reservation. Collectively, the White River tribes came to be known as the Muckleshoot tribe.
The white settlers were apprehensive about returning to the region. Soon, new families started arriving and a small community was established. A general store and a doctor's office opened in 1866. In 1886, the first plat for the new community was filed. In honor of the slain lieutenant, the community was named Slaughter.
There were some new additions added during the next few years. The year 1891 brought the incorporation of Slaughter as a town. Many of the newer residents were uncomfortable with the name while many older residents considered the name of the town to be a memorial. Nobody cared for the town hotel being referred to as the Slaughter House. The new town was renamed to Auburn within two years.
Up until then, Auburn had been a booming hub for hop farming. However, in 1890, an infestation of aphids destroyed nearly all of the hop crops. From then on, the farms were primarily berry and dairy farms. Although there was a continuous problem of annual that the farmer had to deal with, the land was very rich. On the White River, logjams occurred that frequently redefined the course of the water.
The floods became so severe that sometimes in the middle of the night some farmers would illicitly dynamite these logjams. This caused other farmers to be flooded out. Up until 1906, there was an ongoing feud between Stuck River and White River farmers. Then, one of the larger floods diverted the majority of the water to the Stuck River. This left the northern channel of the White River dry. Following this event, government engineers constructed a diversion dam that channeled all of the water to the Stuck River.
However, up until 1962 when the Howard Hanson Dam was constructed, flooding remained a problem for farmers in Auburn. Along with the Mud Mountain Dam on the White River, this dam on the Green River provided controlled river management that left the valley almost free of floods.
Following the end of the war, Auburn was very prosperous. There was a community college and more businesses in the community. A large plant was built by the Boeing Company to mill sheet metal skin for jet airliners in 1963. Many farms disappeared as time went by because the land was being converted for use by industry. A super large shopping mall was constructed during the 1990s that enticed customers from throughout the Puget Sound area.
