What has to be repaid when the loan becomes due?
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.
Verified Reviews
(163)
Professional and Kind I contacted Larry McAnarney and my questions were all answered in a professional and kind manner. I was very impressed and satisfied with his responses. I will refer him to anyone that needs their service.
Linda M — Aug 24, 2021
Larry was great at explaining the procedure Larry was great at explaining the procedure. Kept me up to date on what was happening next and answered all my questions quickly. Would recommend him to anyone looking for same solution
Susan G — Jul 16, 2022
Great experience Larry McAnarney was just super. He helped us stay organized and explained everything that needed to happen to complete the reverse mortgage. We really couldn't have done it without him. Like anything that's associated with the government, there are lots of hoops to jump through. But Larry was very patient with our questions and was easy to work with from start to finish. My wife was getting impatient with the process and said some things that would have caused most people to say good-bye, but Larry stayed calm and didn't put any pressure on us to make a final decision. He treated us with respect and wanted to be sure that WE were happy with what we were doing. I'd highly recommend Larry to anyone who is considering a second mortgage. It was a great experience.
Terry M — Aug 14, 2015