Larry McAnarney
815-703-4745

Reverse Mortgage Income

Income From Reverse Mortgages

Reverse mortgage income, or proceeds, may be received in 4 ways. A lump sum payment, A line of credit, monthly reverse mortgage income payments, or a combination of the above. The amount of income you receive is based on the age of the youngest borrower, the homes value (less any outstanding mortgage) and the current interest rate. As far as Taxes, reverse mortgage income is not taxable. For more information About Reverse Mortgages, please see the Reverse Mortgage Information page of this website. You may also visit the following link to return to the Reverse Mortgage home page, or request a free Reverse Mortgage Quote online.

Verified Reviews

(233)

Quick to Respond to Any Inquiry Larry was on point from our very first conversation, I told him what we were looking to get done and he gave us options as well as explaining the process. He was quick to respond to any inquiry and most importantly was always transparent with both the pros and cons of the loan we wanted. A kind individual who listens to his customer and helps with whatever he can. Larry is an asset to organization and would not hesitate to use as well as recommend him in the future.

Carlos R — Apr 23, 2024

Larry is Very Patient: Thank you for your help Larry. You were very patient and reached out to me numerous times to make sure I understood the process

Candice C — Oct 4, 2025

I Give Larry 10 Stars! We looked at the reverse mortgage as a way to help increase our monthly income. We initially looked at selling our home but decided we really wanted to stay in our home. We were given Larry’s name by a Realtor and the rest is history. There were challenges that needed to be overcome, but Larry helped us through everything. I would recommend him to anyone. I give him 10 Stars!!

Tim & Carol M — Mar 5, 2019