Reverse Mortgage: A Widow’s Best Friend? with Harlan Accola

For many, a reverse mortgage can bridge that gap. By allowing homeowners age 62 and older to access the equity in their homes without monthly payments, it provides a steady income—especially for those who want to remain in their homes.

The reputation of reverse mortgages has improved dramatically since the early days. When the FHA introduced the program in 1988, some borrowers made unwise choices—like removing their spouse from the home title—which left surviving spouses vulnerable.

Thankfully, that changed in 2013. Federal law now requires that both spouses be listed on the loan and protected by it. This safeguard ensures that a widow can remain in her home for as long as she wishes, without fear of foreclosure or forced sale.

Dignity and Security for the Years Ahead

When a husband passes, household income often drops by around 40%. If a traditional mortgage payment remains, that financial burden can force a widow to sell her home. A reverse mortgage eliminates that risk by converting home equity into income—allowing her to stay in the place she loves, surrounded by memories, with dignity and financial stability.

For widows, that security is invaluable. It turns a house into a lasting home, ensuring that the twilight years can be lived not in fear, but in peace.

On Today’s Program, Rob Answers Listener Questions:

• I’m trying to find information about a Christian savings and loan, but I haven’t been able to get the contact details. Can you point me in the right direction?
• I don’t feel like I have enough savings to handle a real emergency. I’m working both full-time and part-time jobs just to keep up with bills, plus I’m trying to pay off student loans and credit cards. I feel stretched thin and don’t know what to do next.
• I called before about my advisor and wanted to give you an update. Now I have a question: I have a 401(k), a traditional IRA, and a Roth IRA—each with about $100,000. When I retire, do I need to withdraw from one before the others, or is there a better strategy for taking distributions?
• I recently changed jobs and left my 401(k) with my former employer, which is now closing its doors. Should I roll that money into my new job’s plan or transfer it elsewhere? I’m not very familiar with managing investments myself.
• I currently have a moderate growth account with a steady income, but I’m considering withdrawing the funds. Would CDs be a safe place to move that money, or do you have other suggestions?
• I need help finding affordable health insurance on a limited income. I have some past health issues, and I’m worried about being penalized. Where should I start looking?

Resources Mentioned:

• Faithful Steward: FaithFi’s New Quarterly Magazine (Become a FaithFi Partner)
• Movement Mortgage
• Christian Community Credit Union (CCCU)
• HealthMarkets | Healthcare.gov | eHealth | HealthSherpa
• Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money
• Look At The Sparrows: A 21-Day Devotional on Financial Fear and Anxiety
• Rich Toward God: A Study on the Parable of the Rich Fool
• Find a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)
• FaithFi App