Additional Retirement Income

Additional Retirement Income, Income-Tax Free¹

If you are an older adult, it goes without saying that you are probably concerned with your retirement income; having enough retirement income, AND with finding additional retirement income sources. If you are about to retire, you're doing the math, as well as saving and planning. If you are retired already, you may be watching your budget, wishing you had contributed more to your 401K. If you are living on Social Security alone, you may be really pinching pennies, searching for a solution for more retirement income. In any of the above cases, retirement income sources are an important part of your financial survival.

Your Retirement Income Options

At Senior Reverse Mortgage Online we specialize in providing seniors with basic reverse mortgage information and a licensed reverse mortgage consultant in your state. If you are not familiar with it already, the reverse mortgage senior homeowners to borrow equity in their home, with no loan payback. If there is an existing mortgage, it will be paid off and you will get the remaining funds. This is a unique loan product, sponsored and insured by the US Government (created by HUD and insured by the FHA.) Reverse mortgages are a safe, viable means of achieving additional retirement income. Highlights of the reverse mortgage income opportunity are listed below.

Additional Retirement Income With Reverse Mortgages

Reverse Mortgage Retirement Income Benefits

The money you receive is income-tax free¹
No payments as long as you live in the home
In most cases no credit or income requirements
Reverse mortgages are supported by AARP
Reverse mortgages are insured by the FHA
You retain ownership of your home

Reverse Mortgages Retirement Income Requirements

Borrowers must be Age 62 years or older
Own their home and have enough equity in to qualify
Occupy the home as primary residence
Receive counseling by an approved HUD/FHA counselor
The home must be in reasonably good repair

Reverse Mortgage Retirement Income Payment Options

Lump sum disbursement
Monthly payments
Line of credit with growth rate
A combination of the above

An Additional Retirement Income Source

A Reverse Mortgage provides safe, tax free retirement income, that DOES NOT HAVE MONTHLY PAYMENTS OR NEED TO BE REPAID in your lifetime as long as you live in the home. This retirement income program was specifically created to afford seniors more retirement income. Let's face it, if you did not plan effectively for your retirement income, then you definitely need additional retirement income stratagies. Additional retirement income sources are available, and the reverse mortgage is an option. It provides additional tax free income, without any repayment of the loan.

Please Contact Us to learn more. We can provide you with a licensed reverse mortgage consultant (RMC) who will send you all the information you need to make the right choice, regarding this additional retirement income source. You will also be required to seek counseling with a HUD/FHA approved counselor, so you will make sure to get all the facts. If you feel the reverse mortgage is for you, the RMC will send you a Reverse Mortgage Application and walk you through each phase of the process. Getting a reverse mortgage, AND solving your retirement income worries could not be easier.

¹ Consult a Tax Professional

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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

Larry was Recommended to Me Larry McAnarney was recommended to me by a mortgage banker at Evanston Community Bank. When I called Larry, he was very helpful and insightful to set me in the direction in filling out all the documents needed to process the reverse mortgage. If anyone needs help in getting a reverse mortgage, Larry is the person to use

Mike & Gail M — Jan 19, 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