Larry McAnarney
815-703-4745

Can I refinance my existing mortgage, home equity loan, or other debts with a reverse mortgage?

Yes. For many homeowners age 62 and older who are looking to refinance their mortgage(s) or consolidate debt to reduce their monthly bills, a reverse mortgage can be a more suitable solution. That's because a reverse mortgage has a flexible repayment feature, which puts you in control of how much you pay towards principal and interest each month. For as long as you live in the home, you can choose to pay as much as little as you like, or make no monthly loan payment at all — freeing up money for other purposes.

As the homeowner, you'll still have to pay property taxes and insurance, and keep the home in good shape.

Verified Reviews

(233)

Elderly Family Member We worked with Larry McAnarney to secure a reverse mortgage for an elderly family member. From beginning to end of this rather complicated process, Larry was extremely efficient, helpful, and knowledgeable. He shared with us all of the elements of this type of mortgage arrangement, explained clearly how it would work, and advised us of possible misunderstandings. When we had questions (as we did on multiple occasions), he answered them promptly and efficiently, both by email and telephone. He also followed up quickly to clarify some final issues and questions that arose as the closing approached and even after it had been completed. His manner was always professional and well informed. I would strongly recommend working with Larry in any matter related to mortgage financing or refinancing, especially so in regard to making a wise decision about a reverse mortgage.

Daniel P. — Mar 16, 2015

Outstanding in Handling Everything Please let all at Mutual of Omaha know that you and your staff were outstanding in handling all the completed matters associated with getting this purchase loan done. We had realtors on vacation in Mexico and an estate representative on vacation in China creating many challenges. My realtor lost control and your efforts allowed us to get all the paperwork done and close the deal. Thanks again, I am so happy with the new digs and just finished up my new cash flow. I am free for life! Wow, such an exciting moment.

Gary N — Mar 21, 2024

It Was a Pleasure to Work with Larry It was a pleasure to work with Larry throughout the reverse mortgage process. He gave simple and thorough explanations to my questions, had endless patience and was always kind and happy to offer wise advice. Thank you Larry!

Sara K — Apr 13, 2020