Larry McAnarney
815-703-4745

What is a reverse mortgage?

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 the equity in their home into income-tax-free funds. (Not tax advice, consult a tax professional.) There are different loan products to choose from that offer you options on what interest rate you are charged, how much money you can access, and how you receive your payments. Unlike a regular “forward” mortgage or traditional home equity loan or home equity line of credit, there are no monthly principal and interest payments as long as at least one of the borrowers lives in the home as their primary residence. As with any mortgage, in order for the loan to remain in good standing, the borrower must also keep up with property-related taxes, insurance and upkeep.

Verified Reviews

(229)

Larry is Very Professional and Helpful Larry has been very professional and helpful in the reverse mortgage process. He always kept me updated during this process and giving me feedback. Thank you Larry

Rogeilo C — Nov 14, 2020

Larry Has Knowledge, Expertise, and Patience Larry is the best! He walked me through the process, explained all of my options, and was always available to answer my questions, I had many of them. He has the knowledge, expertise, and the patience that I required to guide me through this process. I was fortunate that he was referred to me by my financial planner, and I think that anybody else he works with will feel the same way.

Phyllis J — Jan 22, 2019

My Experience Has Been Wonderful My experience with my Reverse Mortgage representative Larry McAnarney has been wonderful. Larry has been very professional & sensitive to my needs. He was completely truthful & informative with me. I will recommend Larry anytime to anyone asking me about a Reverse Mortgage. Your company is lucky & very blessed to have Larry represent you.

Sam H — Nov 13, 2019