Larry McAnarney
815-703-4745

Reverse Mortgage Alternatives

Alternatives to Reverse Mortgages

The reverse mortgage should not be considered a "first choice" for older adults looking for extra cash. There are alternatives. It does have its advantages, but in some cases, the reverse mortgage fees outway the benefits. Below are some reverse mortgage alternatives to consider before gettting this type of loan.

Reverse Mortgage Alternatives

Downsizing - Selling the home and moving into smaller quarters
The Home Equity Loan or Home Equity Line of Credit (HELOC)
Refinancing the home completely
Having the children buy the home, and lease back to you
Securing money for home repairs from other sources

To discuss these reverse mortgage alternatives with a licenced Reverse Mortgages Consultant (RMC), please Contact Us. The RMC can help you determine if the reverse mortgage alternative is a good financial choice for you.

Verified Reviews

(229)

Larry was Very Helpful Larry was very helpful, He answered all my questions and returned phone calls promptly. I would highly recommend Larry for any of my friends have decided to get a reverse mortgage

Bill M — Dec 31, 2020

Clone Larry! When we met Larry McAnarney, it did not take long to feel comfortable. There was no high pressure feeling; he answered our questions and put us at ease. Larry was great! Our Hud counselor, and the gentleman who did our closing were very good, too. Only one problem.....we should have done it sooner. Larry gets SIX stars. Bernice and Dave

Bernice & Dave L — Oct 28, 2014

Patient & Explained Each Step: Thank you for all your help. I truly appreciate your guidance throughout the process. What made it great was how patient and clear you were in explaining each step. I always felt like I knew what was going on and that I could ask questions anytime.

Sonja B — Sep 27, 2025