You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually choose to do this through the sale of the home or other assets. Repaying the loan by refinancing through a conventional mortgage is also an option.
Pleased with the service I want to let you know I am very pleased with the service I received from Larry McAnarney. He was very polite and answered fully any questions I had. I am really happy I got to do business with him.
Gerry E — Jun 21, 2016
Wonderful Customer Service Customer service was top notch from beginning to end; any and all questions we had were answered or we were put in touch with someone who would be able to help us. Our representative Larry McAnarney helped each step of the way and never failed to get back to us in a timely manner.
Diane R — Jan 12, 2015
Worked well for us! My wife and I had been discussing reverse mortgage for some time. We had heard all the pros and cons of doing this type of mortgage and the pros won out. We have a house that was built in 1976 and we have been in it since 1991. We have really done no updates on it and it was really needing some remodeling. We were just not able to afford all the stuff that it needed. We could not find anyone in our area that did reverse mortgage so I got on the internet and did some searches. A few days later I got a call from Larry McAnarney. I told Larry that I came from the "old school" and was use to doing business face to face, but since he was in Illinois and we were in Texas it made it a little difficult. However, to make a long story short, Larry explained everything to our satisfaction and we started the process. We had to go to a counseling session so that we understood the process. After that it was pretty simple. Thanks to Larry McAnarney.
Joe G — Apr 14, 2015