The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid and Supplemental Security Income (SSI), may be impacted. One of our licensed reverse mortgage specialists can provide additional general information, but you should contact a financial professional or government benefits specialist about your particular situation.
Professional-Patient-Flexible-Thoroughly Knowledgeable Our financial planner suggested we look into a reverse mortgage to free up extra assets to help us use them for vacations, anticipated and unanticipated expenes,while protecting current cash flow. Additionally, having a line of credit provides peace of mind that we will have the cash available to meet whatever the future holds. Larry provided the answers to our questions and pointed out the way the process works in a way we could understand and the pros and cons of the choices available relative to the costs associated with each choice, no hidden fees, and a clear understanding of our obligations. Larry helped us to consider family issues that might arise so we could determine what our goals are upon our passing for our children. He is professional, patient, flexible, and most of all thoroughly knowledgeable.
Bob V — Mar 31, 2017
Thank You, Larry! Larry McAnarney is our reverse mortgage loan specialist. He did an excellent job of explaining the reverse mortgage programs, the process, requirements, how the monies would be accessed if approved. He followed up with me multiple times before I made the decision to proceed which I really appreciated. He assisted me in wading through all of the requirements in the application process. He was always available for a question either by email or phone. He was always encouraging and optimistic about our chances for success. He was helpful and very clear as to all the documents I needed to prepare and always allowed me a reasonable amount of time to comply. As our house is in trust there were further "hoops to jump through." Larry truly went above and beyond the call of duty on our behalf with the underwriters. I have no doubt that his extra hard work won the approval of our reverse mortgage. I couldn't recommend him more highly. He has my thanks!
Jacquelyn W — May 6, 2015
This Has Been a Great Tool for Us Larry did a great job explaining the reverse mortgage process to my family. This has been a great tool for us. I highly recommend Larry for your reverse mortgage needs Brian V
Brian V — Oct 12, 2016