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

(126)

Nervous in the Beginning Larry was very knowledgeable about the processing of the reverse mortgage. He answered all my questions in a way that I could understand each step of the process. I was nervous in the beginning but with Larry helping me step by step in understanding the process, I became very much at ease. I would be more than happy to recommend others who would want to do a reverse mortgage. Again, thank you Larry.

Dorthie A — Feb 6, 2017

Larry is Very Attentive at Answering Questions Larry is very knowledgeable of reverse mortgage products and very attentive at answering whatever questions you have and responds at late hours of the day and on weekends. He will also run reports for whatever scenario you want to see regarding any aspect of the process and effectively reviewing these reports and explaining them to you.

Brian & Jean S — Dec 12, 2020

Much appreciated blend of professionalism and cordialit Larry was a much appreciated blend of professionalism and cordiality. He was very thorough in the coverage of reverse mortgage issues and explained them with great clarity and patience. It was a good experience with a complicated matter.

Jeff R — Mar 17, 2016

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

(126)

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: