Larry McAnarney
815-703-4745
Illinois Reverse Mortgage Information
Welcome to the Illinois Reverse Mortgage Information Center
At Mutual of Omaha Reverse Mortgage, we're dedicated to providing expert guidance and support to homeowners aged 62 and older across the Land of Lincoln. Industry veteran Larry McAnarney brings decades of experience and a commitment to excellence to every client we serve. Whether you live in Chicago, Barrington, Northbrook, Oak Brook, Joliet, or anywhere else, Larry will help address your questions and provide information.
Meet Larry McAnarney: Your Trusted Reverse Mortgage Expert
Larry McAnarney is a leading authority in the reverse mortgage industry with a deep understanding of the unique needs and challenges facing Illinois homeowners. Since 1999 Larry has helped countless individuals and families unlock the potential of their home equity to achieve financial security and peace of mind in retirement.
As a Certified Senior Advisor (CSA), Larry is dedicated to upholding the highest standards of professionalism, integrity, and customer service. He is passionate about educating homeowners about the benefits of reverse mortgages and empowering them to make informed decisions about their financial future.
Why Choose Mutual of Omaha Reverse Mortgage?
Mutual of Omaha Reverse Mortgage is a trusted name in the reverse mortgage industry, known for its commitment to integrity, reliability, and customer satisfaction. As a division of Mutual of Omaha Mortgage, we have the resources and expertise to provide personalized solutions tailored to your unique needs and goals.
Larry will guide you through every step of the reverse mortgage process, from initial consultation to loan closing and beyond. He believes in transparency, honesty, and open communication, ensuring that you have all the information you need to make confident decisions about your home equity.
How I Can Help You
Whether you're looking to supplement your retirement income, cover medical expenses, or fund home renovations, a reverse mortgage could be the solution you've been searching for. At the Mutual of Omaha, we're committed to helping you explore your options and find the right financial solution for your needs.
Get Started Today
Ready to learn more about how a reverse mortgage can help you achieve your financial goals in retirement? Contact Larry today at 815-703-4745 to schedule a consultation. Your path to financial security starts here.
Get a QuoteReverse Mortgage Frequently Asked Questions
Yes, refinancing is possible. This option may be to your advantage if your home increases in value, making more funds available.
A HECM is a reverse mortgage loan that's insured by the Federal Housing Administration (FHA).
You’ll repay the loan balance, any fees that have been added, and the accrued interest. Homeowners (or their heirs) usually…
Use the proceeds for the things you need and want. For example: refinancing your existing mortgage(s) to improve cash flow; consolidating…
The funds from a reverse mortgage generally do not affect regular Social Security or Medicare benefits. However, needs-based benefits, such as Medicaid…
A reverse mortgage is a home-secured loan that’s exclusively for homeowners and homebuyers age 62 and older. It allows borrowers to convert some of…
A reverse mortgage offers certain advantages:
- With a traditional home equity loan or home equity line of credit, you…
The specific amount depends on several factors, including:
- Your…
With the exception of a fee for government-required reverse mortgage counseling, most of the fees associated with a reverse mortgage can be financed…
Yes. For many homeowners age 62 and older who are looking to refinance their mortgage(s) or consolidate debt to reduce their monthly bills, a reverse…
Typically, reverse mortgage loan funds are not subject to income tax. Contact your tax advisor for additional details.
The other borrower continues to own and live in the home — and enjoy all the benefits of their reverse mortgage.
The loan must be paid in full when one of the following occurs:
- A “maturity event” —…
To be eligible for a reverse mortgage, you’ll need to meet the requirements set by the federal government:
Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds…