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.
Couldn't be Happier We recently closed our reverse mortgage with Larry McAnarney and couldn’t be happier. We don’t need the money, but Larry explained how we could set up a growing line of credit which could be used as possible future income, immediate liquidity, a long term care insurance hedge, and much more. We used this product as part of our retirement income planning strategy. Larry was very knowledgeable on all aspects of what we were trying to accomplish and very responsive to our needs and questions. He is highly recommended by us.
Jim & Marcia M — Jan 12, 2018
Duplicate of Larry McAnarney was excellent Larry McAnarney was excellent. He made sure we understood the process, was patient. Larry made sure during our refinancing that we were getting a good interest rate. We have used Larry twice and have been pleased both times
Bud & Betty C — Feb 7, 2021
Great Job Larry was very helpful, answered my querstions not once but many times. He was very professional and polite.
Michael G — May 13, 2014