Larry McAnarney
815-703-4745

When will the principal and interest charges become due?

The loan must be paid in full when one of the following occurs:

A “maturity event” — the loan becomes due and payable when the home is sold, or the borrower or qualified non-borrowing spouse no longer occupies the home as their principal residence (i.e., passes away, moves out, or vacates the property for more than 12 months) due to mental or physical illness.
You fail to pay property taxes or homeowners insurance.
You let the property deteriorate beyond what is considered reasonable wear and tear, and do not correct the problem.

Verified Reviews

(219)

Quick Response I had questions about reverse mortgages and how they worked. Larry called and explained everything to us very well. He was quick responding back when I contacted him about some concerns I had while I was deciding to go ahead or not. I would recommend him to others, very polite and helpful. Was a pleasure working with him.

Gloria M — Apr 9, 2014

High-Quality Service After discussing the reverse mortgage with my niece and being referred to you, I still had some hesitancy about going into the program. However, after speaking with you I became a little more at ease. With that being said, I would like to thank you for your time and expertise in processing my reverse mortgage. With your guidance during the process, you made it less overwhelming. Any questions I had you patiently answered them, so I understood. Thank you for your high-quality service.

Barbara T — Oct 24, 2024

Larry Takes the Time Necessary Larry takes the time necessary to make sure everyone in both the purchasing and selling groups understand the complete Reverse Mortgage for Purchase program. Larry does not hurry through the answers to questions, but does not waste time either. He will be the one suggested on any future transactions that need his help and assistance.

Ray K — Feb 17, 2020