How can I receive the funds from a reverse mortgage?

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

  • Lump sum
  • Monthly advances (either for a fixed length of time, or as long as you live in the home)
  • Line of credit (take funds when you need them) — this has become the most popular option
  • Or a combination of the above

Verified Reviews

(229)

We Were Very Pleased Larry McAnarney was very thorough and responsive as we process our reverse mortgage loan. He was always available when we needed him and very prompt in his responses. He knew his product well and communicated with us in a way we could understand.

John & Tonya M — Jan 25, 2022

HIGHLY Recommend Larry I had the pleasure of working with Larry McAnarney for a reverse mortgage for my mother. My mom wanted to stay in her home for her senior years and needed to do the reverse mortgage for the 24/7 in home care that was needed. I received Larry's name and contact information from a small-town bank near my mom's house. Knowing nothing about reverse mortgages, I knew I needed an expert and someone that would be patient, helpful, and willing to share all his knowledge. I found all of that, and more, in Larry. Every phone conversation, zoom call, and email from Larry was filled with valuable information that helped me, my mom, and my siblings through the entire reverse mortgage process. I felt like he was "holding my hand" as the process moved forward and that he always had my mom's best interests in mind. Larry is a very caring and compassionate person, and I could genuinely feel his desire to truly help our family. I never felt afraid, unsure, or concerned. Larry was always available to talk or text and he quickly replied to e-mails (even when I sent them in the middle of the night) The paperwork and forms he provided were very organized and detailed and I appreciated that Larry took the time to carefully explain all of the information. I have nothing but positive things to say about Larry. When the mortgage was approved and closed, I remember thinking "I'm going to miss Larry." Good people like Larry are hard to find.    

Doreen S — Mar 13, 2021

Knowledgeable Larry was very knowledgeable and explained things, so I understood.      

Denise R — Jul 23, 2024

Read More Reviews