Business Details
Your Trusted Partner for Reverse Mortgage Solutions
Five Star Reverse Funding has been serving clients in New York since 1977, specializing in reverse mortgage solutions since 2009. Our President/CEO, Russell Arceri, personally oversees 100% of operations with over 46 years of financial services experience. We act as a Registered Mortgage Broker with the NYS Department of Financial Services, maintaining licensing and bonding compliance. Our team has originated over 800 reverse mortgage applications, providing in-home consultations and personalized closing support. We prioritize client education through HUD-approved counseling and maintain active memberships in the Better Business Bureau, NYAMB, NAMB, and the Ronkonkoma Chamber of Commerce.Our approach combines regulatory compliance with compassionate service, ensuring clients receive accurate information about converting home equity into tax-free funds. We emphasize transparency in all transactions, with no hidden fees or obligations. Our expertise extends to explaining how reverse mortgages affect Social Security, Medicare, and other benefits. We maintain strict adherence to FHA standards and program requirements while offering flexible payment options for seniors seeking financial security.
Services
Reverse Mortgages
Home Equity Conversion
Mortgage Counseling
Financial Planning
Senior Housing Solutions
Highlights and features
- 46+ years of combined financial services experience since 1977
- Personalized in-home consultations for reverse mortgage applications
- Over 800 reverse mortgages originated with direct client support
- Active BBB membership with no complaints on record
- HUD-approved counseling for reverse mortgage education
Associations and certifications
- Better Business Bureau
- New York Association of Mortgage Brokers
- National Association of Mortgage Brokers
Services
Reverse Mortgages
Reverse mortgages allow seniors to convert home equity into tax-free funds without monthly payments. Borrowers must be at least 60 years old and maintain primary residence status. Funds can be received as lump sums, monthly payments, or credit lines with growth features.
People
Russell Joseph Arceri
President / CEO
Reverse mortgage specialist with 46+ years in financial services. Personally originated 800+ reverse mortgages since 2009. Provides in-home consultations and maintains active industry memberships.
Questions
What is a reverse mortgage?
A reverse mortgage converts home equity into tax-free funds for seniors aged 60+, with no monthly payments required while living in the home.
How does a reverse mortgage affect Social Security?
Reverse mortgage proceeds don't impact Social Security or Medicare benefits but may affect other need-based programs.
What payment options are available?
Choose from lump sum, monthly installments, credit line, or combinations. Payment plans can be modified during the loan term.
Can I use reverse mortgage funds for home repairs?
Yes, proceeds can cover home improvements, medical costs, debt reduction, or supplement monthly living expenses.
What are the eligibility requirements?
Must be 60+, own home outright or have minimal mortgage balance, and maintain property as primary residence with current taxes/insurance.
