How can I receive the funds from a reverse mortgage?

You have a number of choices for how you receive your funds:

  • Lump sum
  • Monthly advances (either for a fixed length of time, or as long as you live in the home)
  • Line of credit (take funds when you need them) — this has become the most popular option
  • Or a combination of the above

Verified Reviews

(55)

Step by step help along the way Larry McAnarney was recommended to me. Fortunately, I was able to contact him to assist me in securing a reverse mortgage. He talked to me in terms that I could understand which made my steps possible. He politely and patiently answered my questions and proposed some himself. There was always an update from him on progress or what I should be expecting. To have a person that is comfortable to have a conversation with is important to me. I felt that any question or comment I had was going to be received in a friendly and business like manner. After all the paper work was finished and the reverse mortgage was secured, he still phoned to check if I had questions. I have already recommended him to people who are retirement age, or to their families, in case this could be of assistance to their parents. Obviously, I have a high opinion of my experience.

Deanne R — Mar 31, 2015

Professional, Knowledgeable, Responsive Larry was terrific. Very professional, knowledgeable and responsive.    

John & Carol L — Oct 27, 2016

Reverse Mortgage Experience Excellent service! We were lucky to deal with Larry McAnarney who with his know-how and involvement helped us through a very difficult time. He went above and beyond his responsibilities to help us in the reverse mortgage world. Thanks!

Thomas & Denise C — May 14, 2014

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This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

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Illinois Residential Mortgage Licensee; Arizona Mortgage Banker License #0935256: Georgia Residential Mortgage Licensee No. 36793; Originator License No. 40299; Kansas Originator License LO.0001032; Licensed by the New Jersey Department of Banking and Insurance; Texas Mortgage Banker Registration in-state branch office 6044 Gateway East, Suite 236, El Paso, TX 79905(branch NMLS 1244676) RMF is not licensed or registered to engage in mortgage loan origination activities in Hawaii or New York.