Common Uses

Live more comfortably with a Home Equity Conversion Mortgage (HECM) loan. Its flexible repayment feature^† gives you more freedom in how you manage your monthly expenses, and you can use the funds as you choose. For example:

Dramatically lower your monthly mortgage payments
Consolidate auto loans and high-interest credit card debt, and reduce your bills
Improve monthly cash flow
Establish a standby line of credit you can tap into as needed
Gain payment flexibility, for more financial control
Fund large purchases like a new automobile
Assist a grandchild headed off to college
Fund major home renovation projects
Buy a home that better suits you

Depending on your needs and plans, you have the choice of taking your funds as:

A line of credit — which offers all the benefits of a traditional Home Equity Line of Credit, but with greater flexibility
Monthly advances, either for a set period of time or as long as you live in your home
A lump sum
Or a combination of these options
Plus, you can change how you receive your remaining funds at any time, if you need or want to

^† 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.

Larry McAnarney
HECM Loan Specialist, NMLS #21059
Call 815-703-4745 | lmcanarney@reversefunding.com

Branch NMLS # 1404799
700 Commerce Drive, Suite 5055
Oak Brook, IL 60523

Verified Reviews

(129)

I Definitely Recommend Larry I had a very good experience working with Larry McAnarney. He was on time returned calls quickly and was very patient answering my questions. If any of my friends have an interest in a reverse mortgage I will definitely recommend him. .

Sherry H — Mar 8, 2019

Larry was the easiest business person I have ever dealt with Larry was the easiest business person I have ever dealt with. He was so patient with me and took care of things that I didn’t quite understand. I would and will recommend Larry Mcanarney to my closest friends if they have a need. Thanks again Larry for helping me.Mavis

Mavis E — Aug 19, 2021

Larry Always Made Himself Available Larry McAnarney, our loan specialist, helped us navigate the loan process with his guidance and expertise. He provided options and explanations along the way, always with my mom’s best interest in mind. He personally presented our case to the Homeowner’s Association and acted as our liaison with them. Larry always made himself available to us, and communicated in a fast, effective, concise manner. We recommend Larry as a loan specialist because of our positive experience and for his knowledgeable ability and his willingness to serve you.

Victoria P — Jan 4, 2021

Common Uses

Live more comfortably with a Home Equity Conversion Mortgage (HECM) loan. Its flexible repayment feature† gives you more freedom in how you manage your monthly expenses, and you can use the funds as you choose. For example:

Verified Reviews

(129)

Live more comfortably with a Home Equity Conversion Mortgage (HECM) loan. Its flexible repayment feature^† gives you more freedom in how you manage your monthly expenses, and you can use the funds as you choose. For example: