Larry McAnarney
815-703-4745

Reverse Mortgage Income

Income From Reverse Mortgages

Reverse mortgage income, or proceeds, may be received in 4 ways. A lump sum payment, A line of credit, monthly reverse mortgage income payments, or a combination of the above. The amount of income you receive is based on the age of the youngest borrower, the homes value (less any outstanding mortgage) and the current interest rate. As far as Taxes, reverse mortgage income is not taxable. For more information About Reverse Mortgages, please see the Reverse Mortgage Information page of this website. You may also visit the following link to return to the Reverse Mortgage home page, or request a free Reverse Mortgage Quote online.

Verified Reviews

(229)

Elderly Family Member We worked with Larry McAnarney to secure a reverse mortgage for an elderly family member. From beginning to end of this rather complicated process, Larry was extremely efficient, helpful, and knowledgeable. He shared with us all of the elements of this type of mortgage arrangement, explained clearly how it would work, and advised us of possible misunderstandings. When we had questions (as we did on multiple occasions), he answered them promptly and efficiently, both by email and telephone. He also followed up quickly to clarify some final issues and questions that arose as the closing approached and even after it had been completed. His manner was always professional and well informed. I would strongly recommend working with Larry in any matter related to mortgage financing or refinancing, especially so in regard to making a wise decision about a reverse mortgage.

Daniel P. — Mar 16, 2015

Timely & Easy The process was timely and easier than I thought it would be.

Tracy B — Jul 22, 2024

A pleasant experience Larry McAnarney was very professional yet warm in his dealing with both my wife and me. Our experience during the entire process was a pleasant one.

Paul C — Jan 30, 2014