FIVE STAR REVERSE FUNDING is a New York State Corporation whose address is 1376 Locust Avenue Bohemia NY We are listed without complaint in the BBB, Licensed and Bonded. We originate and fully process loans in house acting as a Registered Mortgage Broker with The NYS Dept. of Financial Services, all loans arranged through third party providers. The company NMLS # is 32828 and Mr. Arceri's # is MLO 7071.
Russell Joseph Arceri is the President/CEO and oversees personally 100% of operations. Russell started his career in financial services in January of 1977, concentrating his work on residential financing in 1998 with 100% of his work on Reverse Mortgages (HECM) since 2009. In that time Russell has personally originated over 800 mortgage applications visiting each client in home and personally attending each closing.
After seeing the need for his 89 year old mother to avoid a nursing home he set out to learn the reverse mortgage product and has become an expert in the field. Being a student at heart Russell stays focused on changes in the laws and requirements needed.
Russell Joseph Arceri is the President/CEO and oversees personally 100% of operations. Russell started his career in financial services in January of 1977, concentrating his work on residential financing in 1998 with 100% of his work on Reverse Mortgages (HECM) since 2009. In that time Russell has personally originated over 800 mortgage applications visiting each client in home and personally attending each closing.
After seeing the need for his 89 year old mother to avoid a nursing home he set out to learn the reverse mortgage product and has become an expert in the field. Being a student at heart Russell stays focused on changes in the laws and requirements needed.
Services
If you are a homeowner and at least 62 years of age, here are some important things to consider.
A reverse mortgage allows you to convert some of your home equity into accessible tax-free loan proceeds.
Borrower must continue to pay property taxes, homeowner's insurance and maintenance costs.
A reverse mortgage enables you to receive payments instead of making monthly mortgage payments.
You can receive those funds in a plan that fits your needs: Lump sum, monthly installments, a line of credit to draw from as needed or any combination of the three.
A reverse mortgage allows you to convert some of your home equity into accessible tax-free loan proceeds.
Borrower must continue to pay property taxes, homeowner's insurance and maintenance costs.
A reverse mortgage enables you to receive payments instead of making monthly mortgage payments.
You can receive those funds in a plan that fits your needs: Lump sum, monthly installments, a line of credit to draw from as needed or any combination of the three.
Q: What is a reverse mortgage loan and how does it work?
A: A reverse mortgage is a special type of loan that allows you to borrow against a portion of the equity that you've built up in your home.
You can use the money for anything you like including paying medical bills and making home improvements.
Unlike a traditional home equity loan, a reverse mortgage doesn't need to be paid back immediately, perhaps not even during your lifetime.
Q: Can anyone apply for a reverse mortgage?
A: You must be at least 62 years old and you also must own your home outright or be able to pay off your home with the proceeds from a reverse mortgage.
A: A reverse mortgage is a special type of loan that allows you to borrow against a portion of the equity that you've built up in your home.
You can use the money for anything you like including paying medical bills and making home improvements.
Unlike a traditional home equity loan, a reverse mortgage doesn't need to be paid back immediately, perhaps not even during your lifetime.
Q: Can anyone apply for a reverse mortgage?
A: You must be at least 62 years old and you also must own your home outright or be able to pay off your home with the proceeds from a reverse mortgage.
Hi I'm Joe from Rocky Point.
And it got a reserve mortgage through Russell and believe me - it saved our lives.
I wouldn't be on the island, much less in this house, if it wasn't for the reverse mortgage and working with Russell was a dream.
He was so patient with us - because we kept teetering back and forth, and he was just a great guy and we're still in touch with him.
We call him every now and then and he calls us.
It was a friendly situation.
Hello - this is Lillian from fresh meadows and i had the pleasure of having Russell help me and tell me about the reverse mortgage.
And it got a reserve mortgage through Russell and believe me - it saved our lives.
I wouldn't be on the island, much less in this house, if it wasn't for the reverse mortgage and working with Russell was a dream.
He was so patient with us - because we kept teetering back and forth, and he was just a great guy and we're still in touch with him.
We call him every now and then and he calls us.
It was a friendly situation.
Hello - this is Lillian from fresh meadows and i had the pleasure of having Russell help me and tell me about the reverse mortgage.
Reviews
Be the first to review Five Star Reverse Funding.
Write a Review
