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

(233)

Extremely Patient, Courteous, and Helpful My father recently concluded a reverse mortgage for which Mr. Larry McAnarney was the loan officer.  I sat in with my father on several of the discussions to help him through the process.  Mr. McAnarney was extremely patient, courteous and helpful.  He answered all of our questions and went out of his way to make sure that my father understood his options and was comfortable.  His conduct was very professional, while exhibiting genuine care for the elderly client whom he was serving.  Both my father and I felt very confident about his knowledge, ethics and professionalism.  I would recommend Mr. McAnarney to anyone considering the option of a reverse mortgage.      

Jackie V — May 15, 2018

Very Easy Process Larry made this process easy from start to finish. Was always available with any questions that came up. Even after closing! I would not hesitate to recommend a reverse mortgage to any senior and Larry to help thru the process. Thank You Larry! I am grateful.

Carol B — Jan 29, 2016

This Has Been a Great Tool for Us Larry did a great job explaining the reverse mortgage process to my family. This has been a great tool for us. I highly recommend Larry for your reverse mortgage needs Brian V    

Brian V — Oct 12, 2016

Read More Reviews