California Reverse Mortgage Information
Welcome to the California Reverse Mortgage Information Center
Larry McAnarney is your California licensed Reverse Mortgage Specialist
Amid California’s iconic coastal vibes and inland valleys, from the beaches of San Diego to the wine country of Napa, where high home values meet the dreams of golden-year adventures, Larry McAnarney emerges as the ultimate reverse mortgage ally, drawing on his deep industry knowledge since 1999 to empower Golden State seniors with customized strategies that convert soaring property equity into flexible income streams. Affiliated with Mutual of Omaha Reverse Mortgage and holding NMLS# 21059, Larry excels in addressing California’s unique regulatory landscape, from earthquake zone considerations to Proposition 13 protections, allowing you to savor sunset drives along Highway 1 or spoil grandkids at Disneyland without the stress of relocation.
Please contact Larry for additional details and program offerings. Contact us if you would like to know how much money is available to you or request a reverse mortgage quote and fill out the appropriate information.
Contact LarryWhat is a reverse mortgage?
A Home Equity Conversion Mortgage, or HECM, is a flexible financial product designed for homeowners aged 62 and older. The loan is insured by the Federal Housing Administration (FHA) so that borrowers will not owe more than the value of the home at maturity. With a HECM, also known as a reverse mortgage, you can convert some of the equity in your home into cash to meet financial goals, such as supplementing retirement income, buying a new home, maintaining a quality lifestyle, or preparing for a more secure and rewarding financial future.
All that happens all without giving up ownership or control of your home and without having to make monthly mortgage payments. Of course, as homeowners, you are responsible for occupying the home as your primary residence, keeping up with property maintenance, and staying current on paying property taxes, required insurance and any homeowners’ fees.
Instead of repaying the loan in monthly installments, you or your estate repay the principal, accrued fees and interest when you no longer live in the home.
When it comes to getting your payment, you determine how you’d like to receive your funds based on your individual financial needs and objectives. For example:
- A monthly payment will supplement your income each month.
- A lump sum will provide your available funds at once, subject to initial disbursement limits.
- A line of credit will allow you to withdraw cash as you need it.
- Any combination of the above will give you the added value of flexibility to meet your personal financial requirements.
