Are reverse mortgages safe? Yes, they are. We are covering 9 of the most important safeguards that have been put in place by the government to protect seniors who get a reverse mortgage. So far we've covered Independent Counseling and Limitation on Fees. Another safeguard that Reverse Mortgage’s have is something called Advance Disclosure. Under the FHA HECM (reverse mortgage) program, the Total Annual Loan Cost, or TALC disclosure, is required by the Federal Reserve Board. This document displays the total transaction costs over the projected life of the loan. And we provide this document to our prospective borrowers early in the process so that our clients are informed and aware of the costs incurred in obtaining a reverse mortgage. 

Fees on a reverse mortgage are limited. Origination fees are capped and can actually be financed as part of the loan. This means a senior incurs very little, if any, out of pocket expense to get a reverse mortgage. As a matter of fact, reverse mortgages are audited to ensure fees are not excessive.

Are Reverse Mortgages safe? Simple answer is Yes. There are many safeguards put in place by HUD that protect seniors who utilize a reverse mortgage. One of these safeguards is Independent Counseling. Before a reverse mortgage application can be processed, the prospective borrower(s) must first meet with an independent third-party counselor. The HUD approved counselors have no affiliation with the lenders. Their job is to review the transaction, answer questions, and make sure the borrower understands the loan, and also suggest alternative options.

In this episode, we examine some of the worst kitchen remodels ever seen. We found examples of people that desperately need help and it's time they call a professional.  Some of the designs we found are downright hilarious, were done in bad taste, and defy form and function.  
The question is, can you use the funds from a reverse mortgage to remodel your kitchen?  The answer:  YES
Join us for some laughs, some food, and some advice on Lunch with the Loan Guys.

In this episode, we examine some of the worst kitchen remodels ever seen. We found examples of people that desperately need help and it's time they call a professional.  Some of the designs we found are downright hilarious, were done in bad taste, and defy form and function.  
The question is, can you use the funds from a reverse mortgage to remodel your kitchen?  The answer:  YES
Join us for some laughs, some food, and some advice on Lunch with the Loan Guys.

Have you ever wanted a man cave?  A place specifically designed to watch the games, host the poker night, or enjoy the fellowship of longtime friends? A special room where you're surrounded by collectibles, items you're proud of, or decor that brings you joy or a sense of accomplishment?  When you're young, you typically don't have the space or the money for such a room. But now you're retired, you have the room picked out, and you can picture it in your mind.  It might be time to build that man cave.  The question is, can you use the funds from a Reverse Mortgage to build a man cave?  The answer: YES.  Just save some money for the She-Shed too!
In this episode we'll show you a range of man caves, from simple to extraordinary.  From practical to absurd.  From manly to magical.  And like always, plenty of hysteria throughout.

You really need to see this!  Watch it on YouTube: 
https://youtu.be/6UJUtZIRrFc
In this episode, we show you how to upgrade your vacation to make it more enjoyable and memorable.  Have you been waiting to take that dream vacation?  Maybe a vacation where you take the entire family, grandkids and all?  After all, it's about experiencing life and making memories that last a lifetime.  We have found some outrageous examples of funny, horrifying, cost-cutting vacation ideas to avoid.  Planning a vacation?  Are you 62 years or older and own a home?  Chances are you're sitting on money that's trapped in your home's equity.  We'll show you how you can easily tap into that equity to take that dream vacation, without having a mortgage payment.
The question is, can you use the funds from a reverse mortgage to go on an epic dream vacation?  The answer:  YES

You really need to see this!  Watch it on YouTube: 
https://youtu.be/CaMHR5MPML0
Weddings can be BIG MONEY.  There's the food, the venue, the photographer, the music, the DJ, the reception, the cake...the list goes on.  Paying for all of these things can be stressful, and yet you want to make sure the day/event is perfect and everything you and they dreamed it would be. This is one of those occasions that produce life-long memories.  You don't want to skimp on this one.  The question is, can you use the funds from a Reverse Mortgage to pay for a wedding?  The answer: YES.  
In this episode we explore some of the big ticket items that weddings entail, from music, to venue, cakes, and DJ's.

You really need to see this! Watch on YouTube: 
https://youtu.be/HlzLxxvXb9s
It's time to get out on the open road and see the country.  Traveling in an RV or motorhome is the way to do it.  You're retired and there's still quite a few areas around the United States that are on your bucket list to see and explore.  How about buying an RV and checking these items off your list?  Your life could become a perpetual vacation.  With an RV, your 'hotel room' is constantly with you; no reservations needed. The question is, can you use the funds from a Reverse Mortgage to buy an RV?  The answer: YES.  
In this episode we explore RV's, from the DIY fixer-upper to the $7 million estate on wheels.  Again, we find the absurd and poke some fun, but the bigger picture is to start dreaming about things you'd like to be doing in retirement and start taking steps to realize these dreams.

You really need to see this!  Watch it on YouTube: 
https://youtu.be/xDBnLoYaD0k
Remodeling a bathroom can be expensive, but the return on investment is usually big.  Not to mention, having an updated bathroom to enjoy while you live in your home is really nice.  Let's face it, we all love the added creature comforts that come with a fully remodeled bathroom.  In this episode we'll show you some of the worst bathrooms out there, desperately in need of renovation.  We'll also show you some themes that you might want to avoid when doing your remodel.  The question is, can you use the funds from a reverse mortgage for a bathroom remodel?
The answer:  YES