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Lake Zurich Reverse Mortgage Specialist
Reverse Mortgage Consultant
Larry brings knowledge and expertise to his role as a reverse mortgage consultant. He spent many years as a reverse mortgage managing director... Read More
Larry McAnarney
NMLS ID 21059
Reverse Mortgage Consultant
Office - 630-276-9326 | Toll-free – 888-898-7121 | Cell - 815-654-7100
Email | Website
Lake Zurich Reverse Mortgage Information
A Reverse Mortgage is a federally-insured home loan that lets a homeowner convert a portion of the home's equity into cash. The equity can be paid to you, the borrower, in one large lump sum, in monthly term or lifetime payments, or be retained in an interest bearing account until the funds are needed. With a Lake Zurich reverse mortgage, unlike a traditional home equity loan or second mortgage, NO REPAYMENT of the loan is necessary, so long as the borrower lives in the home. This makes it a good source for More Retirement Income. Additional information on reverse mortgages is listed below.
Reverse Mortgage Requirements:
- >>Borrowers must be Age 62 years or older
- >>Own their home and have enough equity in to qualify
- >>Occupy the home as primary residence
- >>Receive counseling by an approved HUD/FHA counselor
- >>The home must be in reasonably good repair
Reverse Mortgage Payment Options
- >> Lump sum disbursement
- >> Monthly payments
- >> Line of credit
- >> A combination of the Above
Reverse Mortgage Loan Amount
The amount of a reverse mortgage loan is based on several factors.
- >> Age of the youngest borrower
- >> Value of the home
- >> How much is owed on the home (if any)
- >> Current interest rate
To learn more about reverse mortgages in Lake Zurich, IL. please Contact Jeanine now. There is no obligation, and the information is free. Jeanine counsels people all over the state of Illinois on reverse mortgages. She is also considered a local Lake Zurich reverse mortgage expert. Below are some of the local areas she handles. Please Email her now with your questions. You may also visit the following link to return to the Senior Reverse Mortgage home page.
Lake Zurich | Buffalo Grove | Wheeling | Lake Forest | Vernon Hills | Deerfield | Highland Park | Mundelein | Libertyville | Palatine | Prospect Heights | Northbrook
