About the House with Troy Galloway Troy Galloway

WATCH ON YOUTUBE https://youtu.be/IKgHO21RcAQ



This episode of About the House is brought to you by the Construction Consumer Advocacy Institute https://constructionconsumeradvocacyinstitute.com/     ⁠  

 

In this episode of About the House with Troy Galloway, Troy talks to Richard Brown about Reverse Mortgages a.k.a. HECMs. Find out how you can use your home’s value to pay for medical expenses and in-home healthcare.



Contact Rick Brown, Reverse Mortgage Loan Officer NMLS #247348

C : (314) 249-3418

F : (314) 334-2919

rbrown@university-bank.com

https://www.university-bank.com/reverse/about-reverse/rick-brown/ 



DISCLOSURE: University Bank – Reverse Mortgage Division, Equal Housing Opportunity - NMLS 715685, 2015 Washtenaw Ave, Ann Arbor, MI  48104 – (www.nmlsconsumeraccess.org), Member FDIC that operates in various states.  For a complete list of the states University Bank can operate in please visit  https://www.university-bank.com/licensing. This is not a commitment to lend or an offer for a rate lock agreement. All Mortgage transactions are subject to verification of application information, satisfying all underwriting conditions and requirements. Restrictions apply.



3:00 How long has Rick been doing Reverse Mortgages A.K.A. HECMs?

4:47 How does Rick explain Reverse Mortgages to new clients?

6:35 Rick has to read a disclosure. The numbers presented today are examples and do not reflect what your numbers will be.

34:26 Rick begins his slideshow presentation

34:30 Introduction to Reverse Mortgages A.K.A. Home Equity Conversion Mortgage (H.E.C.M.)

34:39 What is the definition of a Reverse Mortgage or H.E.C.M.?

36:20 What are some issues to think about when considering a Reverse Mortgage?

39:30 Adjustable and fixed-rate Reverse Mortgages

39:43 A brief overview of Reverse Mortgages

42:23 The mechanics of a Reverse Mortgage

45:13 An example of a HECM with a $300,000 home

50:05 What happens if the home value does not appreciate after a Reverse Mortgage is put in place?

50:59 A chart showing the home appreciation rate being less than expected

53:03 What if there is an average 3% increase in interest rate?

55:03 How/why might a senior borrower use line of credit funds in the future

55:18 Potential future uses of growing line of credit

58:15 Delaying commencement of social security

58:56 One spouse dies

1:00:14 Directing all proceeds to a guaranteed monthly payment

1:03:57 What are ill-suited quarters?

1:05:51 HECM for purchase

1:06:43 Rightsizing to a new home

1:07:14 Impact on retirement success likelihood

1:08:55 Sampling of potential HECM users

1:09:23 Why not wait to get a HECM until I know I need it

1:10:36 Reasons to get a Reverse Mortgage today rather than later

1:11:58 Reverse Mortage VS a home equity line of credit

1:12:30 FHA HECM guarantees

1:13:00 How does the FHA prevent insolvency?

1:13:43 Qualifying requirements for a HECM

1:14:19 What seniors are good candidates for a Reverse Mortgage?

1:14:45 What do financial planning gurus think of HECMs?

1:15:00 HECMs and the financial planning profession

1:16:03 What is the FHA’s 60% year 1 proceeds limitation rule?

1:17:26 How do adjustable rate mortgages work?

1:18:12 What is the story with non-borrowing spouses?

1:19:26 How do Reverse Mortgages work in a Grey Divorce Settlement?

1:19:41 Adjustable and fixed-rate HECMs

1:20:20 Expanded HECM overview

1:20:26 More questions? Contact Rick at rbrown@university-bank.com

This episode of About the House is brought to you by the Construction Consumer Advocacy Institute https://constructionconsumeradvocacyinstitute.com/     ⁠  

 

In this episode of About the House with Troy Galloway, Troy talks to water specialist and chemist Jeanne Carton about getting the best water for your home or business. 



Find out more about what Jeanne at https://www.h2onlywater.com/ or 3328 N Lindbergh Blvd, Northwest Plaza, MO 63074



3:00 Jeanne “The Water Genie” Carton is originally from Belgium

5:33 Why do we need a water softener?

7:20 How can water from the same river taste so different in another city?

8:30 Why is there lime in the water?

9:20 What is chloramine?

10:15 Kineteco Water Softeners

12:14 What is the National Sanitation Foundation

13:29 Mike Holmes is a spokesman for the Kinetico products

14:00 Well water

18:00 Lime buildup in pipe

20:00 It costs more money in electricity to heat hard water

20:45 Jeanne will not sell a water softener to someone with galvanized pipe

31:25 Spindown filter

34:16 Reverse osmosis drinking water

48:39 Bottled water chemicals

51:30 Tap water vs bottled water

This episode of About the House is brought to you by the Construction Consumer Advocacy Institute https://constructionconsumeradvocacyinstitute.com/    ⁠  



In this episode of About the House with Troy Galloway, Troy shares some free and low-cost tips and tricks to save on energy costs. Find out how lighting a cigarette can show weak spots in your front door.



Blog post - https://gallowaybuildingservice.com/radioshow/energytips/

Troy’s Number - 314-520-6655 

Troy’s Email - ⁠troy@gallowaybuildingservice.com ⁠  

Radio Show Archives - https://gallowaybuildingservice.com/resources/radio-show/    

Website - ⁠⁠https://gallowaybuildingservice.com/  



3:48 Sealing windows and weather stripping

6:00 Use smoke to show a weak spot or breeze

8:17 Spray foam

11:00 Door sweep or door snake

13:29 Hang a blanket

14:21 Tape

15:14 Bubble wrap

17:00 Curtains and blinds

20:00 Insulation

24:35 Packing peanuts

25:24 Insulate water heater and pipes

26:55 Water heater pipes and pool noodles

29:05 Programmable thermostat

31:10 Maintaining your HVAC system

32:51 Seal and insulate duct work 

34:40 Energy-efficient lighting

39:12 Energy-efficient appliances

43:52 Close chimney

46:53 Insulate outlets and switches

49:51 Storm windows and doors

52:30 Caulk around openings

55:12 Close off unused rooms

56:59 Seal and insulate the garage

59:56 Use natural ventilation

101:26 Conduct a home energy audit

Watch the video version https://youtu.be/b1RLegSnqLw 



This episode of About the House is brought to you by the Construction Consumer Advocacy Institute https://constructionconsumeradvocacyinstitute.com/    ⁠  



In this episode of About the House with Troy Galloway, Troy discusses different indoor air pollution types. Find out how the types of cleaning products and paint you use could make you sick and what to do about it.



4:08 Indoor air pollution types and concerns

5:55 Sources of indoor air pollutants

9:09 Chemical pollutants and volatile organic compounds (VOC’s)

10:54 Cleaning products

12:20 Paints

13:40 Glues

16:11 Carbon monoxide

18:18 Formaldehyde

20:43 Asbestos

25:21 Radon

29:55 Biological pollutants

30:32 Viruses

31:44 Bacteria

33:13 Molds

40:10 Animal dander

40:36 Dust mites

42:58 Testing for indoor pollutants

45:00 Indoor air quality testing

46:18 Pictures of mold

47:00 Poor air ventilation

48:00 Check out our past episode with Travis Boyer, The Mold Man https://gallowaybuildingservice.com/radioshow/mold-with-travis-boyer/ 

51:10 Sunlight is a natural mold eliminator

53:10 Dehumidifier

53:28 Choose natural cleaning products

53:55 Quit smoking

55:00 Don’t burn your food

Watch the video version https://youtu.be/t6hqzI63Hss



This episode of About the House is brought to you by the Construction Consumer Advocacy Institute https://constructionconsumeradvocacyinstitute.com/

 

In this episode of About the House with Troy Galloway, Troy discusses interior design with Jeanne Lashmett of JML Interior Design. Find out why your interior designer and contractor need to work together, especially if you want an accurate quote on the cost of your project.



Find out more about Jeanne and interior design

https://www.jmlinteriors.net/ 

jeanne@jmlinteriors.net

314-435-4233

11622 Page Service Drive, Suite 108, St. Louis, MO 63146



Troy’s Number - 314-520-6655 

Troy’s Email - ⁠troy@gallowaybuildingservice.com⁠  

Radio Show Archives - ⁠https://gallowaybuildingservice.com/resources/radio-show/⁠    

Website - ⁠⁠⁠https://gallowaybuildingservice.com/ ⁠



5:00 Are interior designers licensed?

7:50 What’s the difference between an interior designer and a decorator? 

13:33 What do interior designers do?

14:49 10 common mistakes when hiring an interior designer

15:04 1) Not having a realistic budget or financing in place

18:34 2) Interviewing contractors for a remodel without having construction plans

25:47 3) Not reading the contract through

28:32 4) Choosing price over quality

31:55 5) Not following through with the designer’s advice OR too many cooks spoil the soup

38:14 6) Refusing to get a permit for the project

41:36 7) Making changes to the plan without first consulting with the designer

45:16 8) Unrealistic perception of time

48:23 9) Making purchases without consulting or informing your designer

49:40) 10) Micro-managing

52:12 Examples of Jeanne Lashmett’s past projects

This episode of About the House is brought to you by the Construction Consumer Advocacy Institute https://constructionconsumeradvocacyinstitute.com/  ⁠  

 

In this episode of About the House with Troy Galloway, Troy talks about the pros and cons of different types of insulation. Find out which ones are the most affordable and which are the safest.



Troy’s Number - 314-520-6655 

Troy’s Email - ⁠troy@gallowaybuildingservice.com⁠  

Radio Show Archives - ⁠https://gallowaybuildingservice.com/resources/radio-show/⁠    

Website - ⁠⁠⁠https://gallowaybuildingservice.com/ ⁠  



1:30 Check out the insulation episode we did back in 2020 https://gallowaybuildingservice.com/radioshow/insulation/ 

2:00 A quick pitch for the Construction Consumer Advocacy Group https://constructionconsumeradvocacyinstitute.com/ 

3:30 Foam board insulation

4:10 expanded polystyrene

6:10 What is R-value?

9:00 Toxic greenhouse gasses during production 

10:00 Low fire resistance

11:40 Polyisocyanurate insulation

16:34 Polystyrene a.k.a. PS board

18:10 Polyurethane a.k.a. spray foam

24:34 Fiberglass insulation

28:05 Fiberglass insulation loses its R-value as it settles. Never walk on fiberglass insulation

33:30 Cellulose insulation 

38:46 Recycled glass insulation 

42:03 Mineral wool insulation a.k.a. rock wool

47:07 Health hazards

50:28 Vermiculate insulation

54:09 Denim insulation 

59:01 Aerogel insulation

1:03:25 Sheep wool insulation

1:06:21 Mushroom insulation

1:09:57 Hemp insulation and lignan insulation

1:14:58 Chicken and turkey feather insulation

1:17:25 Chart of insulation R-values