Larry McAnarney
815-703-4745

Reverse Mortgage Alternatives

Alternatives to Reverse Mortgages

The reverse mortgage should not be considered a "first choice" for older adults looking for extra cash. There are alternatives. It does have its advantages, but in some cases, the reverse mortgage fees outway the benefits. Below are some reverse mortgage alternatives to consider before gettting this type of loan.

Reverse Mortgage Alternatives

Downsizing - Selling the home and moving into smaller quarters
The Home Equity Loan or Home Equity Line of Credit (HELOC)
Refinancing the home completely
Having the children buy the home, and lease back to you
Securing money for home repairs from other sources

To discuss these reverse mortgage alternatives with a licenced Reverse Mortgages Consultant (RMC), please Contact Us. The RMC can help you determine if the reverse mortgage alternative is a good financial choice for you.

Verified Reviews

(233)

Power of Attorney Larry McAnarney was very helpful with my reverse mortgage application and execution. I had a situation where my wife couldnt sign, so I had to use a power of attorney. Larry was very understanding and helpful throughout the process.

Al & Linda M — Aug 7, 2019

Working With Larry Was Great Working with Larry was great. He is kind and patient. He encouraged questions and was patient with me and my mom. I went through four different mortgage companies, and chose Larry because of his genuine interest in my moms case

Nancy S — Nov 4, 2020

Wonderful Experience I want to join the chorus of those who had a wonderful experience working with Larry. I was pretty sure that a reverse mortgage was the right path for my wife and myself to take at this stage of our lives, but she was somewhat reluctant and unsure. Larry was able to gain her confidence, as well as my own, in the manner of his presentation of just the facts - and his genuinely kind disposition. He was, as well, a very effective ally in dealing with the title company over a matter which was quite important to us. As a recently retired sales rep myself, I was most impressed by dealing with someone who truly puts the customer first.

Ted H — Feb 22, 2016