July-Aug 2020

Borrower Chronicles Nationwide Property Inspections and Preservation Inspections Preservation Insurance Loss Inspections REO Services Violation Management Utility Management Vacant Property Registrations Foreclosure Registrations Special Services Protecting Your Properties. Protecting You. • NFROnline.com • 800-639-2151 let him set his own retirement date, which, if he wants, can be earlier than he had thought,” Kyle adds. With the proceeds from their loan, Bob and Cheri bought a truck and utilized the line of credit, while no longer having monthly housing payments. They live in the single-family house that Bob bought in 1987. “It’s about 1,200 square feet, which is plenty for us, with two big bedrooms and living and dining areas,” he says. “There is a half-basement that we use for storage and tools. The appliances are all upgraded. We’ve done a lot of work on the house, and I built a really nice patio out back. It’s an older home and neighborhood, and we’re close to anything we might need: grocery stores, pharmacies and good restaurants. We’re at an age where we’ve grown out of partying. Now we just like to take life as it comes.” The house is furnished with antiques Cheri has come across in her business, some of which they’ve also refur- bished. They both enjoy gardening and driving in the mountains. “Cheri’s family still lives in Yakima, so we drive to Washington state, and we also like to drive to the coast.” In addition to the freedom that the reverse mortgage has afforded him, Bob says, “I’ve got a lot of projects going.” During the COVID-19 pandemic, his construction work was classified as essential, so retirement still isn’t in the picture. “We’ve continued working, almost as usual,” he says. “There is only one entrance open to the building where I’m working. They have a scanner and you have to badge in. Two or three weeks ago, they handed us each a mask when we came in. Sometimes, it takes two people to do the work, so we’ve been concentrating on the tasks we can each do alone.” “Now I’m in a position where I’m working because I want to, not because I have to. That makes your attitude a whole lot better. I can now gauge when I want to retire.” — Bob Hull Borrower Chronicles continued from page 33 34 REVERSE MORTGAGE / JULY-AUGUST 2020