Larry McAnarney
815-703-4745
Tennessee Reverse Mortgage Information
Explore Your Options with a Tennessee Reverse Mortgage
Welcome to the Tennessee Reverse Mortgage informational website. If you own a home in Memphis, Nashville, Knoxville, Franklin, or anywhere across the Volunteer State, I can answer all your questions and provide you with the details you are looking for to make an informed and educated decision. Discover how you can leverage your home equity to enhance your retirement and achieve your financial goals in retirement.
Why Choose a Reverse Mortgage in Tennessee?
Tennessee offers a rich tapestry of culture, history, and natural beauty, making it a popular destination for retirees seeking a vibrant lifestyle. With a reverse mortgage, Tennessee homeowners aged 62 and older can tap into their home equity without the burden of monthly mortgage payments, providing financial flexibility and peace of mind in retirement.
Your Trusted Resource for Reverse Mortgages in Tennessee
I am committed to providing Tennessee homeowners with the information and resources they need to make accurate and informed decisions about reverse mortgages. I can guide you through the reverse mortgage process with experience, expertise, and professionalism.
Your Financial Future Starts Here
Don't let your home equity go untapped—discover the possibilities of a reverse mortgage in Tennessee today. Whether you're looking to supplement your retirement income, cover medical expenses, purchase a new home, or fund home renovations, a reverse mortgage could be the key to unlocking the equity in your home and securing your financial future.
Ready to Get Started?
Unlock the potential of your home equity with a reverse mortgage. Contact me today at 815-703-4745 to schedule a free no obligation consultation. Your financial future starts here.
Take the first step towards securing your financial freedom and peace of mind in retirement by exploring the benefits of a reverse mortgage with. Your dream retirement awaits—let us help you make it a reality.
Contact me today to get started!Reverse Mortgage Frequently Asked Questions
Yes, refinancing is possible. This option may be to your advantage if your home increases in value, making more funds available.
A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).
You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…
Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…
The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…
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…
A reverse mortgage offers certain advantages:
- With a traditional home equity loan or home equity line of credit, you…
The specific amount depends on several factors, including:
- Your…
With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…
Yes. For many homeowners age 62 and older who are looking to refinance their mortgage(s) or consolidate debt to reduce their monthly bills, a reverse…
Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.
The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.
The loan must be paid in full when one of the following occurs:
- A “maturity event” —…
To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:
Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…