Issue #7188 resolved along with checking for all loopback addresses.

lib/msf/core/handler/reverse.rb

@@ -48,6 +48,18 @@ module Msf
 
         addrs
       end
+	#Function to check for loopback addresses
+	def loopback_addr(addr)
+	begin
+		a=IPAddr.new(addr.to_s)
+		return true if
+		IPAddr.new('127.0.0.1/8') === a
+		return true if IPAddr.new('::1') ==a
+		rescue
+		end
+		false
+	end
+
 
       # @return [Integer]
       def bind_port
@@ -82,12 +94,16 @@ module Msf
                 'MsfPayload' => self,
                 'MsfExploit' => assoc_exploit
               })
+	#Checking whether LHOST is a loopback address	
+	if loopback_addr(ip) ==true
+		print_warning ("You are attempting to listen on a loopback address by setting LHOST to #{ip}, did you mean to set ReverseListenerBindAddress instead?\n")
+	end	
+	 
           rescue
             ex = $!
             print_error("Handler failed to bind to #{ip}:#{local_port}:- #{comm} -")
           else
             ex = false
-
             via = via_string_for_ip(ip, comm)
             print_status("Started #{human_name} handler on #{ip}:#{local_port} #{via}")
 

lib/msf/ui/console/command_dispatcher/core.rb

@@ -1541,14 +1541,6 @@ class Core
       @cache_payloads = nil
     end
 
-    # Raise an alert if LHOST is set to 127.0.0.1
-    name = args[0]
-    ip = args[1]
-
-    if (name.upcase == "LHOST" && ip == "127.0.0.1")
-      print_warning("You may experience errors with this choice of address for LHOST.")
-    end
-
     # If the driver indicates that the value is not valid, bust out.
     if (driver.on_variable_set(global, name, value) == false)
       print_error("The value specified for #{name} is not valid.")