Revese Mortgages
 

Some time ago there was a discussion on Reverse Mortgages. There was a man in the Villages who is an "expert" in this subject and volunteered to talk with people who were interested. I would like to find this man as I have a few questions to ask. If you read this, post a way to contact you.

If you are talking about whom I think you are he stopped posting here quite some time. Reverse mortgage can be a very expensive source of funds.

Ill see if I can dig up his phone number tomorrow. Bruce is his name.

The guy’s name was Bruce Hancock. I would try to find someone reputable before I called him.

Most people on here were not impressed with him.

:)Home

Here you go. I believe this is the person you are thinking of.

Call Becky Koehler at (352) 208-1146. She has her mortgage office on CR 466. Reverse Mortgages are great in the right situation. Becky will help you understand your options.

Talk to your bank - they may have a person who specializes in this product!!

He still posts from time to time on normal subjects and a slightly altered name.

Forgot about that he is rather sneaky in that regard.

Reverse Mortgages
 

We have used Bruce Hancock for our Reverse Mortgage. He is excellent and I believe is affiliated with Mutual of Omaha.
It's not for everyone, but worked nicely for us.

Bruce Hancock is also a veteran and a member of American Legion Post 437.

Home Equity Credit Line is so much better.
 

Reverse mortgage is awesome in principle. However - rates are high and there are buyout penalties.
Far better option is a HELOC. This type of line should be interest only, at prime or near prime. Pay as little each month as interest, or as much as you want. No
pre-payment penalties or fees, etc. Canada here, but should work the same.
If you need income and want to pay zero, simply add it to it by the amount of the payment each month.
Shop the rate. Hope to get prime if you have excellent credit.
Retired from finance. Reach out if you have questions. Returning to TV Nov 1.
Good luck.