Everett Reverse Mortgage Loans
Many Seniors today are using an Everett 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 Everett WA
The best way to find out if an Everett 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 Everett 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 Everett 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 Everett reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Everett reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Everett
- To receive personalized Everett 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
Everett Tidbits
Port Gardner Bay on the west and the Snohomish River on the northern tip and east flank bound the point of land known as the Port Gardner Peninsula. For over 10,000 years, the Everett Peninsula has been inhabited by people. The main village of the Snohomish Indian tribe was located on the northwestern point of the peninsula during recent centuries. Abundant transportation and food have been available as a result of its location along Port Gardner Bay and close to the mouth of the Snohomish River. Across the waterway, other villages were located.A man named George Vancouver claimed the entire region for the King of England after arriving on the beach south of the small community in 1792. He called the bay Port Gardner after a member of his party. Apparently he didn't explore the river. Until some Hudson's Bay Company traders on the Columbia River came through in 1824, the following 50 years were quiet after his first contact with the Snohomish.
The Washington Territory was formed in 1853. White settlers in what is currently known as Snohomish County developed a sawmill powered by water that same year on Tulalip Bay. White settlers abandoned the operation and gave it to the Indian tribes after the Treaty of 1855 created a reservation there for the regional Indians including the Snohomish.
After the treaties were signed, the Snohomish region remained quiet during the Indian wars that erupted in Pierce and King Counties. In 1859, the exploration of the Snohomish River and the associated valleys were stimulated by some enterprising men making plans for a military road between Fort Steilacoom and Fort Bellingham.
In the region that eventually became Everett, the first permanent settler was a carpenter from Worchester, MA named Dennis Brigham in 1861. He lived alone after building a cabin on 160 acres next to Port Gardner Bay. A lineman and telegraph operator for the World Telegraph named Erskine Kromer made a claim south of Brigham in 1863. However, by 1865, there was still nothing but woods in the area.
The population of Snohomish County increased to 1,387 people from 400 people between 1870 and 1880. A man named Jacob Livingston filed for the first homestead in 1872. That same year the community of Lowell was platted by Smith. The US government started removing the snags from the river in 1883. In 1889, Smith started building on his own mill. That same year Washington became a state.
Statehood brought speculation and celebration. The Rucker Brothers, Bethel, Wyatt, and their mother arrived to the area. In 1880, they bought the old Dennis Brigham homestead property on the bayside. The Everett Land Company was incorporated in 1890. By the time the Everett Land Company began offering their commercial and residential lots for sale in 1891, there was a frenzy of building going on in the country.
By 1892, Everett was somewhat like a city with many stumps. On land that was provided by the Everett Land Company, there were 5,600 people, theaters, churches, schools, and frame homes. There were also telephones, streetlights, electricity, and streetcar service.
The year 1893 brought the incorporation of Everett. That same year, a nationwide depression that resulted from the Silver Panic wreaked havoc in Everett. Numerous people left the area. The railroads failed. Wages decreased by 60%. Banks failed. Factories closed down. The city government was almost bankrupted by the lack of return on fees. The streetlights were turned off. Everett and Snohomish fought over which would be the county seat. In 1897, Everett finally won.
Everett had a creamery, a cold and ice storage facility, a sash and door factory, a brewery, creosoting works, a refinery, an arsenic factory, a smelter, planning mills, machine shops, foundries, a flour mill, a paper mill, 12 shingle mills, and ten sawmills by 1903. The telephone company had eight linemen and 23 women employees. Their subscriptions went from 493 to 980 by 1901.
Everett took advantage of the demand for lumber during WWI. However, the Great Depression caused many problems for the community. Everett started diversifying after having been an industrial and lumber community. In 1936, on 640 acres of land, a Works Progress Administration project created Paine Field. The airfield established both a military and an aviation presence in the region. Federal dollars were matched by the county.
Everett enjoyed revitalization and growth during 2005. Some historic structures have been restored and the downtown area has been upgraded in the past 20 years. The streets of Everett are lined with parks, shops, and restaurants. Riverside has plans for some industrial parks. Around Preston Point, there are homes and a community college.
