Reverse Mortgages in Florida. Local Guidance You Can Trust.
Personal service from a local expert, not a national call center. If you are exploring a reverse mortgage in Bradenton, Sarasota, or anywhere across Florida, you deserve clear answers from someone local who personally guides you through the process.
Google Reviews
Reverse Mortgages
FHA Approved
Tom and one of his many grandchildren
Tom Russo
I have been a loan officer for over 23 years and have completed hundreds of loans, including Conventional, VA, FHA, USDA, and even subprime. Although I still close these loans, my primary focus today, as a senior (62+) myself, is reverse mortgages.
I am based locally in Bradenton and help homeowners across the entire state of Florida. Modern technology makes the process simple. Most applications, disclosures, and document signing can be completed electronically from the comfort of your home, making the loan process easy no matter where you live in Florida.
When You Call
Many lenders advertise reverse mortgages, but very few provide truly local, one-on-one service.
You Talk Directly to Me
Not a call center or rotating loan officer. You speak with Tom personally, every time.
Clear, Honest Answers
You get clear, honest answers without pressure. No sales pitch, just straightforward information.
Guided Every Step
I personally guide you through every step, from education to closing. Nothing is left to chance.
Available After Closing
I stay available even after your loan closes. My support does not end at the closing table.
How a Reverse Mortgage Works
Getting started with a reverse mortgage is easier than you might think. Tom guides you through every step of the process.
Free Reverse Mortgage Consultation
Schedule a no-obligation conversation with Tom to discuss your goals and learn whether a reverse mortgage is the right fit for your situation.
Review Your Reverse Mortgage Options
Tom will present personalized reverse mortgage options based on your home value, age, and financial needs, with full transparency on costs and terms.
Receive Your Funds
Once your reverse mortgage is approved, receive your funds as a lump sum, monthly payments, or a line of credit. Whatever works best for you.
Benefits of a Reverse Mortgage
A reverse mortgage is a financial tool designed specifically for homeowners aged 55+ or 62+ depending on the program. Here is why so many Florida homeowners choose this option.
Stay in Your Home for Life
Stay in your home for life while maintaining ownership. Your name remains on the title, and you continue living in the home you love.
Eliminate Monthly Mortgage Payments
Eliminate required monthly mortgage payments. You only need to continue paying property taxes, insurance, and basic home maintenance.
Tax-Free Funds*
Access tax-free funds from your home equity. Reverse mortgage proceeds are generally not considered taxable income.
Flexible Payout Options
Receive proceeds as a lump sum, monthly income, line of credit, or combination. Choose what works best for your situation.
Line of Credit Growth
Line of credit growth over time if unused. Unlike a HELOC, your reverse mortgage line of credit cannot be frozen or reduced.
Improve Monthly Cash Flow
Improve monthly cash flow in retirement. Bridge the gap between Social Security, savings, and the lifestyle you have worked hard to earn.
Reduce Financial Stress
Reduce financial stress while aging in place. Gain peace of mind knowing you have access to funds when you need them.
Non-Recourse Protection
No personal liability beyond the home's value. You and your heirs are protected, and FHA insurance covers any shortfall.
Flexible Use of Funds
Flexible use of funds for healthcare, travel, home updates, or emergencies. There are no restrictions on how you use your proceeds.
Surviving Spouse Protection
Surviving spouses retain rights to remain in the home. Your partner is protected even after the borrowing spouse passes away.
*Consult your tax advisor. Reverse mortgage proceeds are generally not taxable income, but individual circumstances vary.
Why You Should Not Be Afraid of Reverse Mortgages
Many people still worry about reverse mortgages because of outdated information. Today's programs are heavily regulated and designed to protect homeowners.
You keep ownership of your home. Your name stays on title.
The loan is repaid only when you sell, move out permanently, or pass away.
You can sell your home anytime.
FHA insurance protects borrowers and heirs.
Required HUD counseling ensures you fully understand the program before moving forward.
Frequently Asked Reverse Mortgage Questions
Get clear, simple answers to the most common questions about reverse mortgages.
Get Your Free Reverse Mortgage Quote
If you want clear answers from someone local who will personally guide you, not pass you to a call center, I am happy to help.
Reverse Mortgage vs. Other Options
See how a reverse mortgage compares to other ways of accessing your home equity.
| Feature | Reverse Mortgage (HECM) | HELOC | Cash-Out Refinance |
|---|---|---|---|
| Monthly Payments Required | ✓ None* | ✗ Yes | ✗ Yes |
| Age Requirement | 55+ or 62+ | None | None |
| Income Qualification | ✓ Flexible | ✗ Strict | ✗ Strict |
| Credit Score Impact | Minimal | Significant | Significant |
| Can Lender Freeze Funds? | ✓ No | ✗ Yes | N/A |
| FHA Insured | ✓ Yes | ✗ No | ✗ No |
| Non-Recourse Protection | ✓ Yes | ✗ No | ✗ No |
| Payout Options | Lump sum, line of credit, monthly, or combo | Line of credit only | Lump sum only |
| Stay in Your Home | ✓ Yes | ✓ Yes | ✓ Yes |
*Reverse mortgage borrowers must continue to pay property taxes, homeowners insurance, and home maintenance.
Reverse Mortgage (HECM)
HELOC
Cash-Out Refinance
*Reverse mortgage borrowers must continue to pay property taxes, homeowners insurance, and home maintenance.
Where We Serve
Tom Russo provides reverse mortgage services to homeowners throughout Florida, with a focus on Manatee, Sarasota, Hillsborough, Pasco, Pinellas, and Charlotte counties.