The safety net Charlie built before he needed it.

Charlie lives in Orange County and has a beautiful wife of 35 years. He has three gorgeous daughters and more grandkids than you can count on one hand. He had paid off his mortgage and had a decent sized checking account, but his wife was sick and getting sicker.

As many know now, or will find out, insurance is not going to pay for everything, and that will cost you. The two had heard a little about reverse mortgages, and he wanted to set up a safety net while he could, just in case. He had heard about establishing a line of credit that grows and can be accessed without ever having to make a monthly mortgage payment. It was intriguing enough to call me and have me come over.

Charlie played football in college and came up through the hard knocks of Penn State. He didn't pay much attention to a sales pitch. Facts, and only facts, were going to be on the table that night, and that is just the way I like it. His home was worth $800,000, and we were able to establish a line of credit for $375,000. That line was set up to grow every year it went unused, regardless of what the housing market did.

It doesn't matter if you are sick or if your family needs your help. You must prepare before the accident.

Stop, are you reading this right? $375,000 in a line of credit, growing every year, whatever the market or the color of the sky. Charlie had the safety net he wanted and a cash stream to do anything and everything for the family. Little did he know he would need it sooner than later, and not for her.

Charlie was lucky. His cancer was found early and could be treated quickly. He was able to use some of the cash from the line to get better care and access to the best doctors, and in that deadly game, having the best made a huge difference in his successful recovery.

With a reverse mortgage line of credit, the FHA insures the loan proceeds, and those protections ultimately cover you, your home, and your family. This loan can do something no other loan can do, and it is worth understanding before you need it.

You have car insurance before the crash. If you are sitting on your savings to take care of yourself, life is going to be hard, unless you are Oprah. Having access to money and not needing it makes sense. If you can't access it, you are stuck. Yes, you could sell your house and move in with your kids, but is that really a choice?

Live independently and bravely, and be prepared to fight the good fight. You deserve the best chance in this great big world. Go find out more about a reverse mortgage line of credit. It may give you peace you haven't had in a long time.