Kent Reverse Mortgage Loans
Many Seniors today are using a Kent 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 Kent WA
The best way to find out if a Kent 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 Kent 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 Kent 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 Kent reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Kent reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Kent
- To receive personalized Kent 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
Kent Tidbits
At one time, what is currently known as Kent was oceanfront property. The Duwamish Valley was full of arable, rich soil making it ideal for farming when the first white settlers arrived by the mid-1800s.For numerous years in the valley, Native Indians had been gathering berries, hunting, and fishing. Because it broadened their potential for trading, many Indians welcomed the settlers. However, as Indian access to the surrounding lands and river diminished when more settlers arrived in the valley, tensions began to flare.
The White River Indians were more ready to be relocated than the northern Snohomish or the Snoqualmie tribes. The land rights had been determined though treaties that had been signed with the Indian tribes all over the Puget Sound Region by 1855. Some of the local Indian tribes fought back later that year.
An ambush by Indians killed nine people including children and women in 1855. Some local Native Indians who were sympathetic towards them helped some of the children escape. This started what came to be known as the Seattle Indian Wars.
The war was over quickly when the Indians retreated after troops were brought into the region. A new treaty that established the Muckleshoot reservation was written and signed. Within the boundaries of King County, this is the only Indian reservation that exists. Collectively, the White River tribes came to be known as the Muckleshoot Indian tribe.
A successful trading business was established in 1859. A general store opened in 1862. Farmers took to the land and raised many vegetables including onions and potatoes. On untilled land, animal stock was brought in to pasture. Much of the valley was being cleared and a new cash crop of hops was being cultivated by the late 1870s.
In 1891, aphids destroyed most of the hop crops. However, hops were the primary reason for the transformation of the transportation routes in the valley. In the early 1800s, farmers needed a way to get their hops to the marketplace. Travel by river was the most reliable form of transportation between Seattle and the area currently known as Kent.
In 1883, work started on a railroad line that connected up with the Northern Pacific that ran through the valley. Although it wasn't reliable, the railroad line was brought into service. Travelers from King County complained, and the Northern Pacific ceased operations. In 1887, the railroad line became a reliable form of transportation in the valley after Northern Pacific relocated its terminus to Seattle from Tacoma. A worker for the Northern Pacific decided to name the community after a place in England where nothing but hops were grown, known as Kenty after Kenty County, England.
The first plat was filed by Ida Guiberson and John Alexander in 1888. The year 1890 brought the incorporation of Kent as a town. The destruction of the hop industry took Kent off the high it had been riding on. Things were then made even worse by the nationwide economic collapse in 1893. Overnight, rich farmers went broke. Other people in the area lost everything they owned.
After the hops era past, the first success story in Kent was the Pacific Coast Condensed Milk Company. In 1899, the company produced their first cases of condensed milk. By the early 1900s, Kent had social organizations, newspapers, stores, churches, schools, and banks. An interurban arrived in the community in 1902. In 1906, a major flood diverted the White River southwestern through Pierce County. This meant that the farmers in Kent only had to contend with the Green River.
In 1907, Pike Place Market opened. The first-generation Japanese farmers supplied over 70% of the vegetable and fruits for Western Washington and half of the fresh milk that was consumed in Seattle by 1920. However, Kent suffered as a result of the Great Depression. Over 25,000 people were attracted to the lettuce festival, which was held in Kent in 1934.
During the 1930s, the Japanese-Americans were forced to move to internment camps. During WWII, farming was still the best economic resource. However, not many Japanese-Americans came back to the valley following the end of the war. In 1950, the Green River was dammed.
Although the farmers in the valley were happy not having to deal with flood every year and the Howard A Hanson dam that was built in 1962 prevented additional floods, they were soon disappointed when industrial giants and developers began transforming the valley rather than opening land for farming.
In 1957, the Valley Freeway was completed. In 1966, Interstate 5 was opened. In order to increase its tax base, Kent started annexing as much land as possible. In 1960, the physical size of Kent increased to 12.7 square miles from one square mile in 1953.
In 1965, the Boeing Aerospace Center was constructed. In 1970, the Apollo Moon Buggie was constructed in Kent. High tech companies started dominating the region by the 1980s.
Kent has seen many changes during its 110 years of existence from hop farming to moon buggies. However, on the back roads around the community, vegetable and fruit stands can still be seen.
