Depending on your needs and plans, you have the choice of taking your funds as:
† With a HECM loan, commonly known as a reverse mortgage, no principal and interest payments are required until you move, pass away or sell the home, as long as you meet your loan obligations. (As with any home-secured loan, you must keep current with property-related taxes, insurance and maintenance for the loan to remain in good standing.) However, you can opt to pay down your principal and interest if and when you choose; no pre-payment penalties apply.
To learn more, contact me today.
HECM Loan Specialist, NMLS #21059
Call 815-703-4745 | firstname.lastname@example.org
Branch NMLS # 1404799
700 Commerce Drive, Suite 5055
Oak Brook, IL 60523
Reverse Mortgage through Larry McAnanery Larry made the whole process so easy and easy to understand. He answered all of our questions and let us know everything that was going on. He was even at our closing I would DEFINITELY recommend him to friends and family
Susan K — Aug 12, 2014
Quick Response I had questions about reverse mortgages and how they worked. Larry called and explained everything to us very well. He was quick responding back when I contacted him about some concerns I had while I was deciding to go ahead or not. I would recommend him to others, very polite and helpful. Was a pleasure working with him.
Gloria M — Apr 9, 2014
Larry is the Best!! I was referred to Larry and could not be happier for the result. I had a unique circumstance, I was just out of bankruptcy and I had to save my house from foreclosure. I just got in under the time to qualify from the better limits under the old rules for a larger line of credit. Because my bankruptcy estate was not fully complete I had to get a court order from the bankruptcy judge to remove my house from my bankruptcy estate. With a time limit of 12/31/13 to close the financing, which I had to have to pay off the amount due to get out of foreclosure. Once I had the court order, Larry did a miracle in getting the paper work complete to close. I ended up closing the reverse mortgage on 12/31/13 at 12:30 pm, just 4.5 hours left in the year to close the deal! Larry saved my house and life. I can never express the amount of gratitude I have for his great service. THANK YOU LARRY!!!!!
Carl S — Jan 16, 2017