Orange County Reverse Mortgage – OCReverse.com

Irvine Reverse Mortgage

Top 5 reasons to talk to us about a Irvine Reverse Mortgage

  1. Financial planning. The value of your home will move up or down regardless of the mortgage you have on it, if any. Why not rebalance some equity into other investments? See our example case studies for more options, or ask us, but one family pulled money out of their primary home to buy a 2nd home for cash near their grandchildren. No equity was lost – they just shifted it from one house to two, and enjoy a better quality of life to be near family.
  2. Cash is King. It’s always better to have liquid funds available and not need it, than the other way around.
  3. Clear out medical or other debts, and improve your quality of life. One couple had several thousands of dollars in dental work they’d put on a credit card, and were steadily paying down via social security, but that meant not visiting their children. With a reverse mortgage you’ll still leave the home to your kids if that’s what you choose, they’ll just have a small mortgage on it they can refinance or pay off.
  4. Stay out of a Nursing Home. By planning ahead with retrofitting and in-home care when you’re further along and need some help, a Irvine Reverse Mortgage can help you by freeing up cash for this.
  5. Giving to family while you’re around to enjoy the transfer. A lot of well meaning families plan to leave their home to heirs – but by spreading this out over a number of years, you may be able to reduce the tax implications by staying below the annual gift-tax threshold, and you’re also able to have a hand in directing those funds toward grandkid’s college funds, travel together and more.

Next step: Schedule a free consultation with us about your Irvine Reverse Mortgage and get some options. No pressure – just numbers to consider.

More about our city…

Irvine is an incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the 69.7 square mile city has a population of 202,079. It has annexed in the past an undeveloped area to the north, and has also annexed the former El Toro Marine Corps Air Station, most of which is to be made into a park called the Orange County Great Park. Currently,Irvine is larger in land area than any other city in Orange County, because when Irvine annexed the southern and eastern unincorporated areas, it surpassed the size of Anaheim and became the county’s largest city based on area. In June 2007, it was named The Safest City in the United States (Irvine has held the title since 2005).

Irvine is home to the University of California, Irvine (UCI), the Orange County Center of University of Southern California, Irvine Campus of Alliant International University, Concordia University, and Irvine Valley College.

Irvine is also home to a number of corporations, particularly in the technology sector.

History of Irvine

Evidence of early campsites and rock shelters in the undeveloped parts of the city puts prehistoric man in the Irvine area at least 12,000 years ago. Irvine was inhabited by the Gabrielino Indians about 2,000 years ago. Gaspar de Portola, a Spanish explorer, came to the area in 1769. This brought on the establishment of forts, missions and herds of cattle. The King of Spain parceled out land for missions and private use.

After Mexico’s independence from Spain in 1831, the Mexican government secularized the missions and assumed control of the lands. It begin distributing the land to Mexican citizens who applied for grants. Three large Spanish/Mexican grants made up the land that later became the Irvine Ranch: Rancho Santiago de Santa Ana, Rancho San Joaquin and Rancho Lomas de Santiago.

In 1864, Jose Sepulveda, owner of Rancho San Joaquin sold 50,000 acres to Benjamin and Thomas Flint, Llewellyn Bixby and James Irvine for $18,000 to resolve debts due to the Great Drought. In 1866, Irvine, Flint and Bixby acquired 47,000 acre Rahncho Lomas de Santiago for $7,000. After the Mexican-American war the land of Rancho Santiago de Santa fell prey to tangled titles. In 1868, the ranch was divided among four claimants as part of a lawsuit: Flint, Bixby and Irvine. The ranches were devoted to sheep grazing. However, in 1870, tenant farming was permitted.

In 1878, James Irvine acquired his partners interests for $150,000. His 110,000 acres stretched 23 miles from the Pacific Ocean to the Santa Ana River. James Irvine died in 1886. The ranch was inherited by his son, James Irvine, Jr. who incorporated it into The Irvine Company. James, Jr. shifted the ranch operations to field crops, olive and citrus crops.

By 1918, 60,000 acres of lima beans were grown on the Irvine Ranch. Two Marine Corps facilities were built on the ranch during World War II and sold to the government.

James Irvine, Jr. died in 1947 at the age of 80. His son, Myford, assumed the presidency of The Irvine Company. He began opening small sections of the Irvine Ranch to urban development. Myford died in 1959. The same year, the University of California asked The Irvine Company for 1,000 acres for a new university campus. The Irvine Company gave away the requested land and the State purchased an additional 500 acres.

William Pereria, the University’s consulting architect, and The Irvine Company planners drew up master plans for a city of 50,000 people surrounding the new university. The area would include industrial, residential and recreational areas, commercial centers and greenbelts. The villages of Turtle Rock, University Park, Culverdale, the Ranch and Walnut were completed by 1970.

On December 28, 1971, the residents of these communities voted to incorporate a substantial larger city than the one envisioned by the Pereira plan. By January 1999, Irvine had a population of 134,000 and a total area of 43 square miles.