New Jersey Reverse Mortgage Information

New Jersey Reverse Mortgage Information

New Jersey Reverse Mortgage Information Center

At Mutual of Omaha Reverse Mortgage, we're dedicated to providing expert guidance and support to homeowners aged 62 and older throughout the Garden State. Industry veteran Larry McAnarney brings decades of experience and a commitment to excellence to every client we serve. If you are a homeowner in Atlantic City, Newark, Toms River, Trenton, or anywhere else, Larry will address your questions and provide the information you need to make a sound decision.

Larry McAnarney: Your Trusted Reverse Mortgage Expert

Larry McAnarney, HECM Loan Specialist

Larry McAnarney

HECM Loan Specialist

NMLS# 21059 | 815-703-4745

Larry McAnarney is a leading authority in the reverse mortgage industry with a deep understanding of the unique needs and challenges facing New Jersey homeowners. Since 1999, Larry has helped countless individuals and families unlock the potential of their home equity to achieve financial security and peace of mind in retirement. I believe in transparency, honesty, and open communication, ensuring that you have all the information you need to make confident decisions about your home equity.

As a Certified Senior Advisor (CSA), Larry is dedicated to upholding the highest standards of professionalism, integrity, and customer service. He is passionate about educating homeowners about the benefits of reverse mortgages and empowering them to make informed decisions about their financial future.

Why Choose Mutual of Omaha Reverse Mortgage?

Mutual of Omaha Reverse Mortgage is a trusted name in the reverse mortgage industry, known for its commitment to integrity, reliability, and customer satisfaction. As a division of Mutual of Omaha Mortgage, we have the resources and expertise to provide personalized solutions tailored to your unique needs and goals.

How We Can Help You

Whether you're looking to supplement your retirement income, cover medical expenses, or fund home renovations, a reverse mortgage could be the solution you've been searching for. Larry is committed to helping you explore your options and find the right financial solution for your needs.

Get Started Today

Ready to learn more about how a reverse mortgage can help you achieve your financial goals in retirement? Contact Larry today at 815-703-4745 to schedule a consultation. Your path to financial security starts here.

Get a Quote

Verified Reviews

(216)

Helpful & Professional I appreciate how helpful and how professional my needs were met. The process was carried out in a timely manner, and when I needed to question anything, I was answered promptly. I am extremely pleased, thank you Larry, I would recommend you to anyone who is in need of this service. .

Stephanie J — Mar 7, 2023

You Were There for Us My husband and I are so glad we had you help us with our reverse mortgage.  We could not have had a more professional nice person take care of our needs. You helped us above and beyond. You were there for us with all our questions and concerns.  We appreciated it very much.Thanks again Harlan and Jennie  

Harlan & Jennie S — Jun 27, 2016

Obtaining a Reverse Mortgage Larry McAnarney made the process of obtaining a reverse mortgage easy, with as little stress as possible. The only knowledge I had of reverse mortgages was negative, and it was something I wanted to avoid, but it was the only way we could stay in the home we had lived in for almost 40 years. If you have no other choice, I would highly recommend that you contact Larry to get you that information you need to get the process started.

Richard L — Mar 30, 2015

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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.

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A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).

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You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…

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Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…

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The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…

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Reverse mortgages are available with either fixed or variable rates. Borrowers who elect a fixed-rate…

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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…

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

  • Lump sum
  • Monthly…
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A reverse mortgage offers certain advantages:

  • With a traditional home equity loan or home equity line of credit, you…
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With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…

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The specific amount depends on several factors, including:

  • Your…
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Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.

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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…

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

  •  A “maturity event” —…
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The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.

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To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:

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Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…

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Below are just a few of the New Jersey cities and counties where you can obtain a reverse mortgage.