Seattle Reverse Mortgage Loans
Many Seniors today are using a Seattle 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 Seattle WA
The best way to find out if a Seattle 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 Seattle 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 Seattle 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 Seattle reverse mortgages, we would be honored if you would consider Sound Financial Mortgage LLC as one of your Seattle reverse mortgage brokers.Contact us if:
- You would like to speak with a professional serving Seattle
- To receive personalized Seattle 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
Seattle Tidbits
Seattle is located on a small strip of land between the fresh waters of Lake Washington and the salt waters of Puget Sound. There are two rugged ranges of mountains, the Cascades to the east and the Olympics to the west that lie beyond these waters. This community has a mild climate that encourages the abundant natural resources and the growth of prolific vegetation because it is built around water and on hills.In 1851, the first white settlers arrived in the Seattle area. They established a location for a town that was first known as New York, and added Alki, which was a Chinook word that meant by and by, and the name became New York Alki. Soon, they relocated across Elliott Bay to what is currently known as the Historic Pioneer Square District. The primary reason for this move was that a deep water harbor was available that was protected. Soon thereafter, the small community was called Seattle, in honor of a friendly Duwamish Indian leader called Sealth.
In 1853, a man named Henry Yesler owned a lumber mill, which was the small community's primary economic support. Although the mill supplied the fledging communities all around the Puget Sound area, much of the production from the mill went to the community of San Francisco, which was booming at the time. In 1856, the community's development was interrupted by a brief Indian war. However, in 1869, the town of Seattle was incorporated by the Territorial Legislature with a population of 2,000 people.
Coal was discovered around Lake Washington during the 1870s. Most of the coal went to San Francisco. The Northern Pacific Railroad Company announced that its transcontinental railway terminus would be Tacoma during the early 1870s. Shortly after it was completed in 1883, Seattle forced a connection with Northern Pacific in spite of the disappointment of some local leaders. The population of the community increased dramatically. Although shipping, shipbuilding, wholesale trade, and fishing contributed to the population growth and the economic expansion, coal and lumber were the primary industries. In early 1889, Seattle was increasing in population at a rate of 1,000 people per month in early 1889. That same year, a devastating fire slowed this growth but didn't stop it.
In spite of the arrival of the Great Northern, which was another transcontinental railway, Seattle wasn't so prosperous during the 1890s. However, in 1897, gold was discovered next to the Klondike River in the Yukon Territory in Canada and Alaska, which once again made Seattle a boom town. Seattle became the primary point for the outfitting of prospectors.
Seattle continued to grow dramatically in the early 1900s. The Milwaukee Road Systems and the Union Pacific, which were two additional transcontinental railroads, arrived in Seattle. This reinforced the position of Seattle as a shipping and trade center, especially with the North Pacific and Asia.
In 1909, Seattle sponsored an International Fair and had a population that approached 240,000 people. In 1914, the 42 story LC Smith building was completed. It was a symbol of metropolitan aspirations and the tallest building in the American West for over 40 years.
The shipbuilding industry in Seattle was transformed by WWI. In early 1919, in an effort to maintain their high wartime wages, shipyard workers went on strike. What followed was the longest strike in the history of America. The success of the strike fueled postwar fears about socialists and radicals in America. Seattle became known as a hotbed of political radicalism.
Seattle was hit hard by the Great Depression in the 1930s. The shipyards began to flourish again as a result of WWII. In 1916, the Boeing Company was founded and its workforce was increased over 1,200%. However, until the middle of the 1950s, there was an economic slump in the region after the war.
During the late 1950s, there was another of municipal optimism when Boeing successfully introduced the 707 commercial jet airliners. The futuristic Century 21 Exposition, or the world's fair, was sponsored by Seattle in 1962. The fair featured the Space Needle, the Monorail, the Pacific Science Center, and a complex of entertainment, sports, and performance halls.
Seattle is very proud of its beautiful surroundings, Pike Place Market, Pioneer Square, collegiate and professional sports, downtown art museum, parks, many live theaters, and cultural and arts institutions. Seattle is also a community that wants to remain untouched while at the same time wants great growth. It is a community of many homeless yet there are many homes. The community isn't as radical as some might believe, not always respectful of its own short heritage, and, most of all, a community of parades.
