Taking out a reverse mortgage is easy. The requirements are few and the sum of money you can borrow depends on your age and the unpaid balance of the original home loan. The reverse mortgage loan will be yours to use for any reason. Buy a new car; go on world-wide vacation, remodel the house, or buy new furniture. The reverse mortgage loan has no stipulations. It is yours, free and clear, to do with as you like.However, before the lender grants the loan, there are stipulations that must be met. Borrowers who apply for a reverse mortgage must get counseling to be sure that they understand every aspect of the loan and what it entails before the loan is granted. With this type of stipulation it is obvious that a reverse mortgage is not as safe as it sounds.1. Understand that to qualify for a