You’ll find the answers to many common reverse mortgage questions here. Need to know more? Contact Us today. We’re happy to help.
Yes, refinancing is possible. This option may be to your advantage if your home increases in value, making more funds available.Read More Back to Top
A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).Read More Back to Top
You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…Read More Back to Top
Use the proceeds for the things you need and want. For example: establishing a “rainy day” fund for the unexpected, paying…Read More Back to Top
The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…Read More Back to Top
Reverse mortgages are available with either fixed or variable rates. Borrowers who elect a fixed-rate…
A reverse mortgage is a home-secured loan that’s exclusively for homeowners and homebuyers age 62 and older. It allows borrowers to convert some of…Read More Back to Top
You have a number of choices for how you receive your funds:
A reverse mortgage offers certain advantages:
With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…Read More Back to Top
The specific amount depends on several factors, including:
Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.Read More Back to Top
You may still be eligible. Proceeds from your reverse mortgage would first be used to pay off any existing mortgage(s).…Read More Back to Top
The loan must be paid in full when one of the following occurs:
The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.
Read More Back to Top
To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:
Most Helpful-Right Decision I know that I made the right decision using Larry McAnarney. He was most helpful in going through the process of securing a reverse mortgage for me. I had spoken to at least three competitors of Larry, but none were as friendly and to the point as Larry was. Larry made the whole experience of a reverse mortgage pleasant. I would highly recommend Larry to anyone considering a reverse mortgage.
Harold P — Oct 15, 2014
Pleasure Working with Larry It was a pleasure working with Larry. He explained everything just as it worked out from start to finish. I wish I had more school teachers that could explain things and work with me as well as he did. I would definitely recommend him to anyone interested a reverse mortgage. 5 stars plus
Robert R — May 17, 2017
I Trust Larry I was very happy I chose Larry to help me with this loan. He was very helpful and answered all my questions. He answered all my concerns and I trusted him. I would recommend him to any one who needs or wants a reverse mortgage loan. I can call him anytime if I need to and I know he will answer my call.
Dorothy B — May 14, 2015