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)

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

Quick Response I had questions about reverse mortgages and how they worked. Larry called and explained everything to us very well. He was quick responding back when I contacted him about some concerns I had while I was deciding to go ahead or not. I would recommend him to others, very polite and helpful. Was a pleasure working with him.

Gloria M — Apr 9, 2014

Larry is a Nice Man Larry is a very nice man, answered all our questions. Everything went great.

Joyce S. — Jan 17, 2019