October 15, 2025 • 42 mins
Could a reverse mortgage be a widow’s best friend? Since women typically outlive men, many will one day carry the financial load alone. On the next Faith & Finance Live, Harlan Accola joins Rob West to explain how reverse mortgages have changed and why they can offer widows stability, dignity, and confidence for the years ahead. Then it’s on to your calls. That’s Faith & Finance Live—biblical wisdom for your financial journey. That’s weekdays at 4pm Eastern/3pm Central on Moody Radio.
Faith & Finance Live is a listener supported program on Moody Radio. To join our team of supporters, click here.
To support the ministry of FaithFi, click here.
To learn more about Rob West, click here.
To learn more about Faith & Finance Live, click here.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
S1 (00:09):
Could a reverse mortgage be a widow's best friend? Hi,
I'm Rob West. Since women typically outlive men, many will
one day carry the financial load alone. Today, Harlan Accola
joins us to explain how reverse mortgages have changed and
why they can offer widows stability, dignity and confidence for
the years ahead. Then it's on to your calls at
(00:30):
800 525 7000. That's 800 525 7000. This is faith
in finance. Live biblical wisdom for your financial decisions. Well,
it's always a treat when Harlan joins us, because every
(00:50):
time we walk away with fresh insights on reverse mortgages,
he's our go to guy. And he's with Movement Mortgage,
a proud underwriter of this program, by the way. Today
we will be prioritizing your questions on reverse mortgages. We'll
try to mix in a few others as well, but
if you want to understand this product, perhaps you've misunderstood it.
Most have because it's a completely different product in the last,
(01:13):
let's say, 15 years than it was previous to that.
Or you're just wondering if it's a good fit for
your situation. Harlan will be with us throughout the broadcast today.
We'll be taking your calls and questions. So call right
now 800 525 7000. That's 800 525 7000. Harlan. Great
(01:33):
to have you with us today.
S2 (01:34):
Hey, it's good to be here, Rob. Thanks for the opportunity.
S1 (01:38):
Harlan. You've often said that a reverse mortgage can be
a widow's best friend. Explain that.
S2 (01:45):
Yeah, that's really the main reason why I got into
this business in the first place. Because I know that
women usually outlive their husbands. And, uh, it creates a
lot of longevity risk, because if they're living longer and
the income is smaller. It's a good thing to plan
for when they are together in their 60s or 70s,
rather than waiting until it's a problem after the wife
(02:08):
becomes a widow. And it is a huge concern because
many people that I've worked with that are doing fine
now financially, um, have a dramatic decrease in income when
the husband passes first, as is typical. And when the
planning is not done well beforehand, they can leave their
(02:29):
wife with kind of a big problem. And, uh, some
really a lot of pain and difficulty from a financial situation.
We can alleviate that by working together with their planning beforehand.
S1 (02:42):
Yeah, well, that's exactly right. And to your point, you know,
this is a real challenge, especially if folks are ill
prepared for this season of life. Maybe a pension that
the husband who predeceases the wife has goes away in
some cases, they just have to make radical changes in
their lifestyle and maybe they want to stay, or she
(03:02):
wants to stay in the home, which is often very
much the case. That's more security potentially for her. And
sitting on this large asset, perhaps she is unable to
fund her lifestyle and therefore the reverse mortgage could be
a game changer, right?
S2 (03:19):
Well, it really is. And, you know, half the time.
S1 (03:25):
I think we lost you there for a moment, Harlan.
We'll see if we can get you back with us.
By the way, we will be taking your calls and
questions today on reverse mortgages. Harlan Akeley here today. I
also want to do something special today, because I know
there's so many questions on this topic. And a lot
of you just misunderstand this, uh, this offering. I want
(03:46):
to give a copy of Harlan's book to everyone who
calls with a question on reverse mortgages today, uh, so that, uh,
you can read through this. Understand what we're dealing with.
Make sure you know how this might fit in your situation.
And so that's our gift to you. Uh, it's it's
called home equity and reverse mortgages. And we'll be sending
(04:07):
a copy to everyone who calls today, so we'll look
forward to that. Uh, let me also say, just as
it relates to reverse mortgages, you know, we understand the
warnings in Scripture around debt. We love the idea of you,
you know, paying off debt, getting completely out of debt,
including your home as a goal throughout your working years,
and then entering retirement with Social Security, perhaps a 401 K,
(04:31):
some some reserve assets, uh, you know, that you can
use to fund your lifestyle. And if you can do that,
that's great, I love that. Uh, but for many folks
and especially many widows, they enter this season of life
with perhaps an existing home mortgage. Uh, they don't have
the funds saved. You know, in some cases, they're living on,
(04:53):
you know, the bare minimum, just funding their basic needs.
In some cases, they're struggling to put food on the table,
but they're sitting in a paid off home. And that's
where as a financial planning tool, uh, we often see
the reverse mortgage as at least one option that could
be a game changer in the fourth quarter of life,
as perhaps a monthly income stream, monthly check, or even
(05:16):
a line of credit. So is this right for you?
Let's talk about it. 800 525 7000. We'll be back
with much more right after this break. Stay with us.
S3 (05:31):
The opinions offered during this program represent the personal or
professional opinions of the participants, given for informational purposes only.
Any information provided is not intended to replace advice from
a financial, medical, legal, or other professional who understands your
specific situation.
S1 (05:54):
Hey, thanks for joining us today on Faith and Finance
Live I'm Rob West Hartland Akela here today. He's our
go to guy on reverse mortgages Harlan before we head
to the phones and every line full. So we're going
to try to get to as many questions as we
can today. But we often say that these products are misunderstood.
And in some cases, they're imagining a reverse mortgage of
(06:16):
maybe 20 years ago where there were real problems. Describe
what's different about today's home equity conversion mortgages.
S2 (06:24):
Well, what's different is, is that they're guaranteed by the government. Uh,
people used to say they're a scam. Well, they're a
government regulated scam. And, uh, if that's the case and
there is a guarantee that you never get kicked out
of your house, no matter how long you live, and
the spouse is always guaranteed to be in the house.
In fact, you can't even do a reverse mortgage without
including your spouse. And so in the past, people could
(06:48):
do a reverse mortgage without their younger wife because they
got more money. And then when they died, their wife
got kicked out of the house. That whole thing changed
with a court case back in 2013. And now no
longer can that happen. So the wife is guaranteed. The
younger spouse is guaranteed to stay in the house no
matter what happens going forward. And that's protected not by
(07:09):
a mortgage company, but by the federal government. And we
are bound by those rules. And so we never ask
someone to leave no matter what happens going forward. So
the protections are solid and safe. Uh, no matter what happens,
no matter how long a person lives, as long as
they can just afford to pay the taxes and the
insurance on the house.
S1 (07:31):
Yeah, and that's a big deal. You know, that's what
people want to know. Can I stay here for the
rest of my life, including after my spouse dies? And
do I retain ownership of the property, meaning that anything
left after the loan is paid, just like any loan
would have to be paid, is available for my heirs
or ministry. And the answer to all those is yes, right?
S2 (07:51):
Yes. The biggest misconception that I run into all the
time is, well, I don't want to do a reverse
mortgage because I'll lose ownership of my house. Those are
home equity agreements. Those are scams that are out there.
You always own the house. Your wife owns the house.
After you're gone. The kids own the house after you're
both gone. You never lose ownership of the house, and
they decide how to dispose of the asset at the end,
(08:12):
not the bank or the government.
S1 (08:15):
Yeah. Very good. In fact, let's talk about that now.
Evelyn's in Saint Louis. She wants to talk about a
home equity conversion mortgage. Evelyn. Go ahead.
S4 (08:24):
Thank you. Thank you so much for taking my call today. Uh,
I'm 79 years old, and over the years, I have
incurred so much debt. And, uh, as a Christian, it's
really been weighing on me for some time. And I've
been hearing about the home equity conversion mortgage. And I
just wonder if that would be something that I could
(08:47):
benefit from. And also, I wanted to know about me
being on a fixed income Social Security if I would
incur any tax obligations as well. Thank you.
S1 (08:59):
Yeah. Harlan.
S2 (09:01):
Well, those are excellent questions. The first thing, Evelyn, is,
is that all of the proceeds that come from a
reverse mortgage are never taxable, because it's borrowed money, and
borrowed money is not taxable, so it doesn't affect anything there.
This is designed for people with fixed income. And so
as a result we never ask you for a payment
(09:21):
no matter how long you live. That's a requirement of
anyone any company that does a reverse mortgage. We can
never ask for any payment. And answer your question. There's
a lot of people when they have shortfalls on, uh,
on their, uh, monthly budget. Uh, and because they're on
fixed income, they incurred that through credit cards or other
(09:42):
places to borrow money, when in reality they have a
lot of wealth in their house. So while we don't
encourage deficit spending, sometimes it's unavoidable because of health issues
or because of simply things you have to do for
the house, or just simply something called the cost of living.
And so we can even that up. And it's very
difficult when you start incurring debt to make those payments,
(10:04):
plus take care of regular things. If we can eliminate
those payments, it almost always puts you in a place
where you can balance the budget. And so we'd be
happy to talk to you further. Um, it's certainly is
something that's designed for people like you. Uh, what we
always do at movement is we go over all of
your details, all of your budget and information, and say, yes,
this is designed for you. We're never going to put
(10:25):
you into a worse situation than where you started. But
my initial thought process from a little bit of information
you gave is you should certainly look into it, because
if we can get rid of some of those heavy
debt things and take those off your over your head,
you'll just feel a lot better.
S4 (10:40):
Okay.
S1 (10:40):
For any of you listening today that want you. Thank you. Evelyn.
Anyone that's listening today that wants more information can go
to movement. Evelyn, if you stay on the line, our
team will get your information. We'll send you a copy
of Harlan's book. And if we can help you get
connected directly, we'd be happy to do that. Uh, Vivian
is in canton, Ohio. Vivian. Go ahead.
S5 (11:00):
Yes. Hi. Um, I was wondering. Let's say you have
a home that's worth $200,000, and I decide to do
a reverse mortgage. Can I do it for maybe half
of that? For 100,000? And if so, later on down
the line, if I would want to take out more
of that equity. Is that possible?
S1 (11:23):
Yeah. Harlan.
S2 (11:24):
Yes. So we depending on your age, Vivian, we give
you somewhere between 30 and 70% of the value of
your home. Um, the younger you are, the less money
you get. The older you are, the more you get.
The way you set it up is we give you
a maximum amount of credit limit. So if your maximum
credit limit is, um, say, uh, 120,000, but you only
(11:46):
need 60. Well, we still give you the credit limit
of 120. You just pull out 60. So you're not
incurring interest on anything more than what you use. But
we give you the maximum, so you don't have to
refinance and spend more money and go through more hassle
and sign more papers in the future. That line of
credit continues to grow on whatever money that you don't use.
It's specifically designed, so once you get it, you will
(12:08):
not have to refinance. Sometimes it makes sense to refinance,
but most of the time we just keep giving you
more money as time continues because the value of your
house is theoretically going up. And of course, you're getting older.
S1 (12:22):
Vivian, do you have any follow up questions to that?
S5 (12:25):
It sounds too good to be true. Is there a
big downside to this that I should be aware of?
S2 (12:31):
Well, you know, I've heard that a few hundred times.
It's too good to be true. And, um, it's not. It's, uh,
it's too good to be free. There's a cost involved.
There's interest that we charge. And so at the end,
your heirs will get less because you've used money. But
of course, if you use money out of your IRA,
they get less too, because you're getting the cost of
living from somewhere. Just using wisdom. It just makes more
(12:54):
sense to take money out of your house instead of
taking money out of other places, or if you don't
have any other places, it makes sense to take money
out of your house. So we're just allowing. You've already
paid hundreds of thousands of dollars into your house over
the years. We're just allowing you to take some of
it back and still live in the house. So it's
your money. We're just giving you some of it back.
(13:15):
With a government guaranteed program that doesn't force you to move,
so many more people should consider it besides you because
they think it's too good to be true. But when
they look at the actual facts and the numbers, which
we'll be happy to go over with you personally as
to how it relates to you, because it's different for everyone.
I think that you'll find that it is not too
good to be true, but it is something that you'll
(13:36):
be glad that you checked out.
S5 (13:39):
Awesome.
S1 (13:39):
Vivian, you know, the cost of this is 2% up
front that gets paid to the FHA. That's what makes
this a non-recourse loan, meaning they can never come after
you or your heirs personally. It's only the equity in
the home to pay whatever the balance grows to. And
whatever's left is paid out to your heirs. And there is,
(14:00):
of course, an interest rate consistent with the current prevailing
rate and some fees that get attached to it every month.
So the balance will grow if you don't pay it.
But the payments are optional and you still own the home,
so it really can be a game changer for those
folks that just don't have the resources they need to
maintain their lifestyle in this fourth quarter of life. Stay
(14:20):
on the line. We'll get your get you a copy
of Harlan's book and we'll be right back. Thanks for
joining us today on Faith and Finance Live. I'm Rob West.
Today we're talking reverse mortgages. Perhaps you've misunderstood it like
so many people have. Listen, it's not for everyone, but
(14:41):
for somebody in this fourth quarter of life where they're
62 or older, they've got at least 50% equity. Maybe
they have an existing forward mortgage and that's their largest expense.
And I talked to a lot of folks that are
in that situation, and getting rid of that existing mortgage
is a game changer in terms of being able to
just enjoy this season and have enough resources to maintain
(15:02):
their lifestyle. Well, paying off a forward mortgage with a
reverse just eliminates the payment. Then it becomes optional. Many
take most, in fact, take a line of credit that
they have an optional payment on, and then others will
take a monthly check. But again, seeing this as a
tool to plan with in this season of life really
could be a game changer for you. And that's what
(15:24):
we're talking about today with Harlan. If you want to
learn more, go to movement. Let's head back to the
phones to Georgia Garland. Go ahead.
S6 (15:32):
Hi, my name is Garland. Thank you for taking my call.
I just had a quick question. So my mom and
dad were married for 67 years. My dad passed away
five years ago. My mom passed away a month ago. Um,
her house was on reverse mortgage, and I'm her trustee successor.
(15:53):
What have you. I just wanted to question, I want
how do you go about, um. I wanted to get
some expertise as of as far as selling the home.
And I know you can sell the home while it's
on reverse mortgage, but I have to get some permission
from reverse mortgage and all that.
S1 (16:13):
Yes. Very good. Harlon.
S2 (16:15):
Very important question, because a lot of people say, well,
this might be great, but it doesn't end well. It
actually ends very well if you know what's happening and
we can help you with that, even if it's not
our mortgage, we know a lot about it. Um, if
you get your info, I'll send you a copy of
the book called Navigating Reverse, which is designed specifically for
the people that are left behind. And also we will
(16:38):
give you a custom understanding based on who your servicer is,
how that should be handled. You basically have a year,
but there's different time frames along that year that you
have to do certain things, but you can certainly sell it.
It belongs to you, it doesn't belong to the lender.
And we'll go through the process with you to help you,
to make sure that it's done correctly and that you
(16:59):
don't lose anything. And we'll review each of the different
steps with you. And by the way, if you you
can go to movement com or call our our main
line which is 580 reverse. Um and we'd be happy
to just go through the process with you as to
what is the best way to handle the disposition of
(17:20):
the property. You may even want to refinance and keep
the house too. Some people do want to do that
for rental property or whatever, but we'll give you all
the options.
S1 (17:30):
Very good. Is that helpful to you?
S6 (17:32):
Yeah. Can I ask one more quick question to him
before I.
S1 (17:35):
Of course. Yeah.
S6 (17:37):
Okay.
S7 (17:37):
So. Sure. How can I.
S6 (17:39):
I, um, I live in Georgia. I'm from Los Angeles.
My parents home is in Los Angeles. And the question
that I want to ask is that, um, you said
that you have a year or so, so I've already
sent the death certificate to them. Um, told them that
my mom was deceased or what have you. She's the
(18:00):
last deceased owner of the home, and I sent all
that information to them, and, um, I haven't heard anything
back from them. Like, what does my mother owe on
her reverse mortgage? Is it a little amount? What amount
does she owe? How do I get that information?
S2 (18:20):
Well, you should have already got it. But if you haven't,
we'll help you with that, because we work with all
of the servicers directly, even the loans that are not ours.
And so we will help you get that. They should
have already sent that to the address on record. But
if they have not, sometimes that obviously goes to the
wrong place. So just know and we'll help you get
(18:42):
to what the payoff is. So you know the best
way to do it a real estate agent that we
trust in that area.
S1 (18:48):
Yeah. Unfortunately, Harlan, we're, uh, we're losing you again. So
let's see if we can get that line cleared up. But, uh, Garland,
thanks for your call. We'll, uh, if you hold the line,
we'll get your information and get someone from Harlan's team
connected with you just to help you walk through this
process so you understand the proper disposition. If you have
any questions, you'll have a knowledgeable sounding board there, uh,
(19:10):
to be able to, uh, you know, follow up on
and get more information. Uh, thanks for your call, Garland.
Lord bless you. And if we can serve you further,
don't hesitate to reach out. Uh, let's go to Cal.
Let's see. California. Olga, how can we help?
S8 (19:25):
Yes. Uh, thank you for taking my call. I have
two questions, and I think I already got the answer
for both of them, but I just wanted to make sure.
Wanted to know how old you need to be to
apply for the reverse mortgage. And secondly, if and when
I decide to put the house on a living trust,
how is that going to work? Will I be able
(19:45):
to do that or not?
S1 (19:48):
Yeah. Great questions. So with regard to the age, it's
62 or older, uh, that you would need to be.
And um, if you have a younger spouse, um, you know,
you could put that person on it, but 62 or older.
And then beyond that, um, with regard to the living trust,
it's generally allowed. So the lender's routinely work with revocable
(20:13):
living trust because the trust is still under the control
of the homeowner. Um, and so you just need to
be the one that's created it and the beneficiary of it.
The lender will review the trust in this case, you know,
the team at movement could check it out. And then, um,
you know, they would be able to often, in most cases,
proceed with the reverse mortgage, even though it's a revocable
(20:35):
living trust situation.
S8 (20:37):
Okay. Well, I still got a ways to go. I'm 55, so.
S1 (20:42):
Okay. Yeah, you got a little ways to go, but, uh,
the movement team will be there when you're ready. So, listen,
thanks for your call today. If we can help you further,
don't hesitate to reach out. 800 525 7000. Harlan, I
think we've got you back. Uh, are you there with us?
S2 (20:57):
I am, I.
S1 (20:57):
Can hear you. Yeah.
S2 (20:58):
I guess you couldn't hear me now.
S1 (21:01):
Yeah, we were we were starting to lose you there, but, uh,
sounds like it's cleared up. We'll do our best to
keep you with us throughout the rest of the program.
We got calls stacked up. We'll be headed to Cleveland
here and talk to Rosie after the break. We do
have two lines. Open 800 525 7000. You know, here
on faith and finance. Our goal every day is just
to encourage you as you manage God's money faithfully, help
(21:24):
you understand that it's all a good gift from God.
It's a tool to be used to bring God glory
to manage for his purposes, which includes enjoying it and
using it to provide, also, giving it away and investing
it strategically. When we do that, I think it's God honoring.
That's what we've been called to faithfulness as stewards of
what God has entrusted to us. I hope this program
(21:45):
has helped you do that just a little better. And
we're going to take a quick break. Harlan will be
back with us after this. We'll tackle some more questions.
Stay with us. Thanks for joining us today on Faith
and Finance Live. Hey, just a quick reminder, especially here
(22:06):
in the fourth quarter of the year, it is October
halfway through it. Uh, this is an important time for
us to hear from you as a listener supported ministry.
We count on your support to be able to bring
you this broadcast our app, all of our studies and devotionals,
including the new one coming out right at the first
of the year. It'll be the first Devotional that I've written,
(22:27):
and I've put together what I think are the 21
topics that you need to know to operate from a
biblical worldview, handling God's money God's way. If you spend
three weeks, one per day and work your way through this,
I think you'll have a good handle on, at least
from my perspective, God's heart on money management that we
see in Scripture. That's an example of the kinds of
(22:49):
resources we're producing every year, and we send to our
partners each year. But if you would consider a gift
of any amount at this time of year, we'd certainly
be grateful. Just go to faith. Com that's faith. Com
give and thanks in advance. We're talking today with our
friend Harlan Accola. He's with Movement Mortgage, an underwriter of
this program. Answering your questions today on reverse. And by
(23:12):
the way, if you have a need some help in this,
need some education. Want to talk about your specific situation?
Just head to movement. Com to learn more. Uh, Harlan,
we're going to head back to the phones here in
just a second. By the way, we do have two
lines open at 805, two five, 7000. Um, but we
started today by talking about specifically reverse mortgages as it
(23:35):
relates to widows. And I know you've worked with so
many people in this situation. What tends to happen when
the husband is the first to pass, which, as we've said,
is what happens most often, at least statistically?
S2 (23:49):
Well, it was a big shock for most people is
the income usually goes down immediately, uh, by 40%. Um,
and that's difficult to deal with, especially when people are
on a fixed income. In addition to that, not only
does that happen, um, but, uh, the sometimes a pension
(24:10):
is lost. Uh, maybe the husband is working part time,
so sometimes the income loss is even greater than that.
And if there's a mortgage payment, sometimes it just becomes
impossible to pay it. Um, and the house goes into
foreclosure and everything was fine right before the husband had
a heart attack or was lost or whatever, and everything
(24:30):
was sailing along real well. Um, and it's such a
dramatic change. And while they're dealing with grief now, they're
also dealing with financial crisis, which is totally unnecessary.
S1 (24:42):
Yeah. Yeah. Well, it's well said. And I think that's
where this can be a tool to help rectify a
situation like you're describing. Uh, let's head back to the phones,
taking your calls and questions for today to Cleveland. Rosie.
Go ahead.
S9 (24:55):
Yes. Um, thank you for taking my call. Um, my
daughter and I have been discussing, um, different types of things,
you know, that I could do, seeing that, um, I'm
in a good position. The the the mortgage is almost
paid off. Uh, I, you know, about 42,000 left. Um,
I'm 67. The problem. The problem is I had looked
(25:19):
into a home equity line of credit, and it's it's
just not feasible that I should do that. And, and um,
because my interest rate right now is 4.25 and finding
out that if I take the home equity line of credit,
it would go back to whatever the current rate would
be and that would just knock me out. I don't
(25:40):
want to do that. So, uh, when I heard it
announced that you guys were going to be talking about
reverse mortgages, I said, well, maybe that could be something
that's feasible. Um, because I'm looking to do some home
repairs and some dental work for myself, and, um, I
just don't have the extra to be able to do it.
S1 (25:59):
Yeah. Harlan.
S2 (26:01):
Yes, Rosie. Um, I think the big thing, first of all,
interest rates are lesser in comparison to cash flow in retirement.
And so while interest rates are important and those should
definitely be looked at and evaluated as part of it,
the biggest issue, uh, is liquidity having liquid money available
to take care of repairs or dental work or whatever
(26:22):
the issue is. Um, and so what the reverse mortgage
allows you to do is to have money available if
you need it, and make payments if you want to.
It's designed specifically for people in your situation in the
fourth quarter of life. And if you want to pay
it back, you can. And if you don't want to,
you don't have to. And the fact that you and
your daughter are talking about it is perfect because almost
(26:45):
all the time, unless people don't allow us to, we
want to talk to the next generation so they understand
what's going on with their parents. Um, so we'd love
to visit with, excuse me, you and your daughter to
find out if this really fits in with what you
want to do. And it sounds to me like you're
like hundreds of our other clients that have done exactly
the same thing to be able to take care of
(27:06):
their doing fine otherwise. But it's just those extra things
that come along like repairs, car repairs or house repairs
or dental work or medical issues, whatever it may be.
I'd loved, to visit with you further, to find out
if it might work for you and and your daughter
at the same time.
S1 (27:25):
Very good. Rosie. Is that helpful?
S9 (27:27):
It certainly is. And so I will go on to movement.
S1 (27:33):
Yes, ma'am. That'll be the where you can go to
fill out your information. And, uh, and if you stay
on the line, we'll get you a copy of Harlan's
book as well. Um, our team will send that out
to you as our gift to you. Thanks for your
call today, Rosie. Uh, let's go to Minnesota. Hi, Lois.
Go ahead.
S10 (27:49):
Hi. Um, my question is, if you get involved in this, uh,
trust reversible mortgage and you end up in the nursing home,
then what happens?
S2 (28:03):
Yeah, unfortunately, that sometimes happens. What my parents did is
they used the reverse mortgage to stay at home, and
they use some of the money to have home care
instead of going to a nursing home, because they did
not need 24 hour care. Unfortunately, some people do need
24 hour care and they have to move. When that happens,
the loan is is is simply called due because you
(28:25):
are no longer going to be living there and you
don't want an empty house anyway. So most people sell
their house at that point anyway, and whatever money is
left over comes to you. Um, so that you can
use that for additional care or, uh, whatever your goal
is from that perspective. Um, if the kids want to
keep the house, they can, of course, uh, just take
(28:46):
care of the loan, refinance the loan into their own
name or whatever. Usually that doesn't happen, but that is possible. Um,
but certainly it is not a problem for that. It's
just one of the requirements of a reverse mortgage is
that you're living in the house, and if you no
longer are living in the house, obviously you don't need
it any longer. And we don't want to have an
empty house any more than you do. And so it's
(29:08):
required to be sold within a year after you would
permanently move out. But a majority of our clients use
the money for a little bit of home care so
that they can stay in the house, because I guess,
like Dorothy said in The Wizard of Oz, there's no
place like home, and everybody feels that way. And the
longer we can keep you in your house, usually the
better it is. But that's different for every person.
S1 (29:31):
Yeah. Harlan, what is the definition of permanently moving out
of your home? Is that six months?
S2 (29:36):
No, it's really not that. There has to be a
doctor's letter that says you cannot return to your house.
My father had a stroke, and he was out of
the house with major rehab and in and out of
nursing homes for over a year. Um, and so he
did not move out, and he was planning on coming
back and he did come back. And so we're not
in a hurry to call the loan due. It's just
(29:57):
when somebody for sure is not coming back, it doesn't
make sense to have an empty house anymore. But we're
very careful about calling that loan due. It's got to
be for sure. And a doctor has to tell us that.
S1 (30:10):
Very good. Lois, is that helpful?
S10 (30:13):
Yes, I. Is there any way that if, uh, you
could put your home in something so the state wouldn't
get it? If something happens to you, just your children
could get it and keep the state out of it.
Or isn't there any way?
S1 (30:28):
Yeah. With regard to if you needed Medicaid, is that
what you're thinking?
S10 (30:32):
Yeah.
S1 (30:34):
Okay. Yeah, I can address that after this break. So
why don't you, uh, hang up, Lois, and then we'll
we'll touch on that right after this break. Thanks for
your call today, folks. We're going to take a quick
break and then back with our final segment, Harlan Ackley
here today. Lots of questions remaining. We'll get to as
many as we can right around the corner. Stay with us.
(31:04):
You know, when you get to the fourth quarter of
life and you're trying to put all the pieces together,
a lot of decisions to be made. And we want
to help give you some counsel here today. We're talking
specifically about one tool. And that's all it is that
a lot of folks take advantage of in this season
of life and often misunderstood tool that is a reverse mortgage. Now,
many folks get to this point in life and they're
(31:24):
debt free and they want to stay that way. And
that's great. And they've got plenty of assets to cover
their income needs. In some cases, that's just not the
way it is. And so therefore they're looking at what's
the most efficient way to fund lifestyle, factoring in the
taxes and the assets that we have. And you know, often,
as Harlan likes to remind us, Harlan is at what,
14 trillion that's in home equity right now. Is that right?
S2 (31:48):
And that is correct. And it's going up every day.
S1 (31:51):
Yeah. Yeah. Especially as the these home prices continue to increase.
So what an opportunity. And that's what we're talking about today.
We'll get back to the phones here in just a moment.
But before we do Lois teed something up that we
hear uh, periodically on this program where people want to
know if I go into a nursing home, what protects
my home for my heirs, Especially if I run through
(32:12):
my assets and I end up having Medicaid, you know,
below the asset limits. Uh, apart from my home fund,
some of my care. And I know this is something
you teach on all the time. Would you share a
little tidbit on what might that look like?
S2 (32:27):
Sure. This is a huge subject, and we could easily
spend an hour talking about this, and we don't have that.
But the first thing to know is that every state
is different. All the rules are different. In the 20
years that I've been in this business, um, no state
has ever taken any of the out of thousands of
mortgages that we've been involved in. No state has ever
(32:48):
taken a house that had a reverse mortgage on. Most
of the time, they take a house that's free and
clear after the person has passed. So, um, there is
a state planning that needs to be done, attorneys that
need to be consulted. I don't have a law degree. Um,
but everybody should look into this because there's all kinds
of people that say, I want to give a certain
(33:09):
inheritance to my kids. There's all kinds of ethical situations
around that of who should pay for care and so
on and so forth. Um, some people have insurance. Most
people don't. It is a very big discussion. And often
the attorneys that we work with are reverse mortgage is
part of the solution of what ends up going to
the kids in the end. So I'd be happy to
talk to Lois or anybody that's on the listening today,
(33:32):
to go further into that, of how this fits into
long term care planning, how it fits into estate planning
and preserving an asset that you want to go to
the children. Um, it is not a simple nobody has
a simple, easy magic bullet, but often the reverse mortgage
and an attorney can be part of that in figuring
out how best to do that, that your wishes happen
(33:55):
after you're gone or unfortunately, after you no longer have
mental capacity.
S1 (34:00):
Yeah, okay. That's helpful. Thank you for that. Harlan, let's
head back to the phones to Indianapolis. Hi, Lee. Go ahead.
S11 (34:08):
Ah, yes. My question was, uh, when you have a
reverse mortgage, is it a fixed rate mortgage or a
variable mortgage? And then, uh, if I do that, what
kind of cost would be passed on to my heirs
once I'm deceased?
S2 (34:23):
Yes. Very simple question. Uh, thank you for that. Um, uh, the, uh,
you can get a fixed or an adjustable rate. There's
advantages and disadvantages to both. It probably makes more sense
to do an adjustable right now, because it's more likely
that interest rates will go down. But we give you
both options. Uh, the cost that your heirs will take
care of is the money that you've used, plus the
(34:43):
accrued interest and the closing costs that were incurred in
the beginning. We make it very clear to you in
a report before you ever get into it, uh, that
shows you, based on what you're going to borrow and
what you expect to borrow, what you will owe at 65,
at 75, at 85, at age 100. Um, and what the, uh,
(35:04):
based on whatever interest rate is selected and how you
do it. What the average is. So we can come
pretty close to what you owe. If you can tell
us when you're going to die, which obviously most people
can't do, but we give you a good understanding of
what is there. But be aware that no matter what happens,
your kids will never owe more than the house is worth,
even if you live a long time. But we will
(35:26):
give you a pretty good idea of what's going to
be left. And because of the increasing values of houses,
usually there's more equity left at the end than there
was at the beginning with the reverse mortgage because of
that value. And we're only giving you 30, 40, 50%
of value early in life anyway, early in retirement. So
great question. Uh, there's really no different than taking money
(35:46):
out of an IRA. There's going to be less for
the kids at the end.
S1 (35:50):
Yeah. Lee, is that helpful?
S11 (35:53):
It's worth 300. Yes it is. And if my house
today is valued market value at $320,000 and it's paid for, um,
how much of that am I able to take out
of that in reverse mortgage.
S2 (36:06):
How old are you, Lee? What is your age, Lee?
S11 (36:11):
Five. 65.
S2 (36:14):
65. So you're eligible for about 35% of the value.
So you'd get about $100,000 in the beginning in a
line of credit, and then it grows at about 6%
a year. So next year would be 106, the year
after that, 112 and so on. But you'd initially get
somewhere between 100 and 120, depending upon exactly how the
appraisal came out, about a third of the value. And
(36:35):
because you're on the young side, you're 65. If you
were 75, would give you 200 and some thousand. So
you get about a third of the value of the
house in the beginning stages when you're young like that.
S1 (36:49):
Lee, thanks for your call today. We appreciate you being.
I'm sorry. Did you have another question?
S11 (36:54):
Does it make sense to take take that loan out
sooner rather than later?
S2 (36:58):
It definitely makes sense. A lot of people say, well,
I'll just wait until I need it. The best time
to borrow money is when you don't need it, and
the earlier you take it out, the more it grows to.
If you take it out at 65 and you don't
need it until 75, your $100,000 line of credit would
have grown to 200,000. So you're far better off taking
it in the beginning, um, even when you don't need it.
That's what my dad did and when he needed some
(37:19):
health care needs, it was there. Um, so the earlier
you take it out, the better, because it gives you
more time to grow. And you're not paying interest on
money that you're not using. You're gaining more equity availability.
So the earlier you do it, the better, uh, so
that you know that that's there for you in the future.
S1 (37:38):
And Harlan, that's your story as well. Didn't you take
one out at 62?
S2 (37:42):
I did, I turned 62 on April 26th. On April 27th,
in the morning at 8:00, I did my reverse mortgage.
So because I know the numbers and I know what
makes sense, I didn't need it, but it certainly made
sense to do it as early as possible, because I
went through the numbers enough times for everybody else. I
couldn't wait to get to be 62.
S1 (38:01):
That's great. Hey, Lee, thanks for your call. Stay on
the line. We'll send you a copy of Harlan's book. Uh,
hopefully that's helpful to you. And again, folks, if you
want to learn more, connect with somebody at the team there.
Just go to movement.com slash. Uh, let's go to Mississippi. Hi, Nancy.
Go ahead.
S12 (38:16):
Hello. Um, thank you so much. Um, I have a
home equity line of credit. I'm 75, and I just wondered,
how does that work in getting a reverse mortgage?
S2 (38:34):
Well, that's a question that we get asked all the time. Nancy,
many people have lines of credit, which is usually a
wise thing to do when you're younger. You take out
a line of credit. So if you need money, it's there.
Even if you don't use it. And it's just sitting
there as an availability. Um, uh, with uh, the difference though,
when you get to be 62, uh, past 62, uh,
which you're a little ways past that at 75 is
(38:57):
you should get a different line of credit. That guarantees
three things. It's always available. It always goes up no
matter what happens to home values. And you never have
to make a payment. So, um, unless you want to.
So you have the complete flexibility and it cannot be
canceled even if the house value goes down, even if
(39:18):
something bad things happen with the economy, even if some
bad things happen with your credit. So to be able
to have replace that existing line of credit which is
designed for young people, then we simply give you one
that's designed for people that are in retirement and past 62. And, um,
a lot of people say, well, I've already got this one. Well,
a lot of people don't realize is regular lines of
(39:39):
credit can be canceled, even when people lost their homes
in the fire or in with the hurricanes, that line
of credit was still available that they could use to
rent before they rebuilt, and so on. So it's something
that is a guaranteed line of credit. We call it non-recourse.
And that guarantee is very important because if we have
another housing crash like we had in 2009, it's very
(40:00):
likely a regular line of credit would be cancelled. Um,
so it's very important that you just make sure that
when you need money that's available, you want an umbrella
that's not taken away when it starts to rain. So
excellent question. And a very important one, Nancy. And we
can kind of go through the options and the pros
and cons and what you're eligible for because you went
(40:20):
past that age of 62.
S1 (40:23):
Excellent, Nancy. Thanks. Victoria is in Franklin, Tennessee. Victoria, we've
got just a minute and a half left. How can
we help you?
S12 (40:30):
Well, thank you for taking my call. I've heard a
lot of things that are helpful, and I think I'll
definitely call and talk to movement about it. Because we
are 65 and 70. My husband and I are still working,
but we know that really our our retirement is our house.
So the idea that maybe we could stay in our
house and still retire. Sounds wonderful.
S7 (40:53):
Well, we'd love to help people like that.
S2 (40:54):
It changes a tremendous amount of things. I'm so glad
you called Victoria, and we'd love to go through it.
And you know, some people don't like to go on
the websites or they don't have that as much. And
you can always call 580 reverse. It's an easy number
to remember. 7383773 for anyone that wants to not not
that you're getting one, but just that you want to
talk about how it fits. Maybe something you do in
(41:16):
the future. It's just a good idea to say, hey,
how does this work? How would it fit with me?
Whether you do it or not, at least you know
what your options are. And so many people get to
70 or 80, and they the biggest complaint that they
have is, why didn't I do this earlier? How come
I didn't find out about this earlier? It's very wise
that you're checking it out now. And we sure appreciate
(41:36):
your call in. Victoria.
S1 (41:39):
Victoria, stay on the line. Our team will get your information.
We'll send you a copy of this book. And again
movement.com slash. Faith is the is the place to go.
Harland I really appreciate you, my friend. Appreciate your just
your approach to this. I know you're all about kingdom advancement.
You're all about helping and educating God's people, and that
comes through every time you join us. So thanks for
(41:59):
your time.
S2 (42:01):
Thanks for the opportunity. Really appreciate what you do, Rob.
S1 (42:04):
All right. Lord bless you. Well, folks, again, that's Harlan Achola.
He's with Movement Mortgage, an underwriter of this program. He's
our go to guy on reverse mortgages. Again, if you
want to learn more just go to movement.com slash. What
a treat to be along with you today. So thankful
for my team that makes this happen each day. Josh Taylor,
Omar Tahera and everybody here at Faith by making this possible,
(42:27):
want to remind you that Faith and Finance Live is
a partnership between Moody Radio and Faith Fi. And again,
if you'd like to support our work as a listener
supported ministry, we cannot do this without you, and especially
this time of year as we head toward year end.
Really important for us to hear from you at Faith. faith.com. Slash. Give.
(42:48):
Enjoy the rest of your day. Come back and join
us tomorrow. We'll see you then. Bye bye.
Could a reverse mortgage be a widow's best friend? Hi,
I'm Rob West. Since women typically outlive men, many will
one day carry the financial load alone. Today, Harlan Accola
joins us to explain how reverse mortgages have changed and
why they can offer widows stability, dignity and confidence for
the years ahead. Then it's on to your calls at
(00:30):
800 525 7000. That's 800 525 7000. This is faith
in finance. Live biblical wisdom for your financial decisions. Well,
it's always a treat when Harlan joins us, because every
(00:50):
time we walk away with fresh insights on reverse mortgages,
he's our go to guy. And he's with Movement Mortgage,
a proud underwriter of this program, by the way. Today
we will be prioritizing your questions on reverse mortgages. We'll
try to mix in a few others as well, but
if you want to understand this product, perhaps you've misunderstood it.
Most have because it's a completely different product in the last,
(01:13):
let's say, 15 years than it was previous to that.
Or you're just wondering if it's a good fit for
your situation. Harlan will be with us throughout the broadcast today.
We'll be taking your calls and questions. So call right
now 800 525 7000. That's 800 525 7000. Harlan. Great
(01:33):
to have you with us today.
S2 (01:34):
Hey, it's good to be here, Rob. Thanks for the opportunity.
S1 (01:38):
Harlan. You've often said that a reverse mortgage can be
a widow's best friend. Explain that.
S2 (01:45):
Yeah, that's really the main reason why I got into
this business in the first place. Because I know that
women usually outlive their husbands. And, uh, it creates a
lot of longevity risk, because if they're living longer and
the income is smaller. It's a good thing to plan
for when they are together in their 60s or 70s,
rather than waiting until it's a problem after the wife
(02:08):
becomes a widow. And it is a huge concern because
many people that I've worked with that are doing fine
now financially, um, have a dramatic decrease in income when
the husband passes first, as is typical. And when the
planning is not done well beforehand, they can leave their
(02:29):
wife with kind of a big problem. And, uh, some
really a lot of pain and difficulty from a financial situation.
We can alleviate that by working together with their planning beforehand.
S1 (02:42):
Yeah, well, that's exactly right. And to your point, you know,
this is a real challenge, especially if folks are ill
prepared for this season of life. Maybe a pension that
the husband who predeceases the wife has goes away in
some cases, they just have to make radical changes in
their lifestyle and maybe they want to stay, or she
(03:02):
wants to stay in the home, which is often very
much the case. That's more security potentially for her. And
sitting on this large asset, perhaps she is unable to
fund her lifestyle and therefore the reverse mortgage could be
a game changer, right?
S2 (03:19):
Well, it really is. And, you know, half the time.
S1 (03:25):
I think we lost you there for a moment, Harlan.
We'll see if we can get you back with us.
By the way, we will be taking your calls and
questions today on reverse mortgages. Harlan Akeley here today. I
also want to do something special today, because I know
there's so many questions on this topic. And a lot
of you just misunderstand this, uh, this offering. I want
(03:46):
to give a copy of Harlan's book to everyone who
calls with a question on reverse mortgages today, uh, so that, uh,
you can read through this. Understand what we're dealing with.
Make sure you know how this might fit in your situation.
And so that's our gift to you. Uh, it's it's
called home equity and reverse mortgages. And we'll be sending
(04:07):
a copy to everyone who calls today, so we'll look
forward to that. Uh, let me also say, just as
it relates to reverse mortgages, you know, we understand the
warnings in Scripture around debt. We love the idea of you,
you know, paying off debt, getting completely out of debt,
including your home as a goal throughout your working years,
and then entering retirement with Social Security, perhaps a 401 K,
(04:31):
some some reserve assets, uh, you know, that you can
use to fund your lifestyle. And if you can do that,
that's great, I love that. Uh, but for many folks
and especially many widows, they enter this season of life
with perhaps an existing home mortgage. Uh, they don't have
the funds saved. You know, in some cases, they're living on,
(04:53):
you know, the bare minimum, just funding their basic needs.
In some cases, they're struggling to put food on the table,
but they're sitting in a paid off home. And that's
where as a financial planning tool, uh, we often see
the reverse mortgage as at least one option that could
be a game changer in the fourth quarter of life,
as perhaps a monthly income stream, monthly check, or even
(05:16):
a line of credit. So is this right for you?
Let's talk about it. 800 525 7000. We'll be back
with much more right after this break. Stay with us.
S3 (05:31):
The opinions offered during this program represent the personal or
professional opinions of the participants, given for informational purposes only.
Any information provided is not intended to replace advice from
a financial, medical, legal, or other professional who understands your
specific situation.
S1 (05:54):
Hey, thanks for joining us today on Faith and Finance
Live I'm Rob West Hartland Akela here today. He's our
go to guy on reverse mortgages Harlan before we head
to the phones and every line full. So we're going
to try to get to as many questions as we
can today. But we often say that these products are misunderstood.
And in some cases, they're imagining a reverse mortgage of
(06:16):
maybe 20 years ago where there were real problems. Describe
what's different about today's home equity conversion mortgages.
S2 (06:24):
Well, what's different is, is that they're guaranteed by the government. Uh,
people used to say they're a scam. Well, they're a
government regulated scam. And, uh, if that's the case and
there is a guarantee that you never get kicked out
of your house, no matter how long you live, and
the spouse is always guaranteed to be in the house.
In fact, you can't even do a reverse mortgage without
including your spouse. And so in the past, people could
(06:48):
do a reverse mortgage without their younger wife because they
got more money. And then when they died, their wife
got kicked out of the house. That whole thing changed
with a court case back in 2013. And now no
longer can that happen. So the wife is guaranteed. The
younger spouse is guaranteed to stay in the house no
matter what happens going forward. And that's protected not by
(07:09):
a mortgage company, but by the federal government. And we
are bound by those rules. And so we never ask
someone to leave no matter what happens going forward. So
the protections are solid and safe. Uh, no matter what happens,
no matter how long a person lives, as long as
they can just afford to pay the taxes and the
insurance on the house.
S1 (07:31):
Yeah, and that's a big deal. You know, that's what
people want to know. Can I stay here for the
rest of my life, including after my spouse dies? And
do I retain ownership of the property, meaning that anything
left after the loan is paid, just like any loan
would have to be paid, is available for my heirs
or ministry. And the answer to all those is yes, right?
S2 (07:51):
Yes. The biggest misconception that I run into all the
time is, well, I don't want to do a reverse
mortgage because I'll lose ownership of my house. Those are
home equity agreements. Those are scams that are out there.
You always own the house. Your wife owns the house.
After you're gone. The kids own the house after you're
both gone. You never lose ownership of the house, and
they decide how to dispose of the asset at the end,
(08:12):
not the bank or the government.
S1 (08:15):
Yeah. Very good. In fact, let's talk about that now.
Evelyn's in Saint Louis. She wants to talk about a
home equity conversion mortgage. Evelyn. Go ahead.
S4 (08:24):
Thank you. Thank you so much for taking my call today. Uh,
I'm 79 years old, and over the years, I have
incurred so much debt. And, uh, as a Christian, it's
really been weighing on me for some time. And I've
been hearing about the home equity conversion mortgage. And I
just wonder if that would be something that I could
(08:47):
benefit from. And also, I wanted to know about me
being on a fixed income Social Security if I would
incur any tax obligations as well. Thank you.
S1 (08:59):
Yeah. Harlan.
S2 (09:01):
Well, those are excellent questions. The first thing, Evelyn, is,
is that all of the proceeds that come from a
reverse mortgage are never taxable, because it's borrowed money, and
borrowed money is not taxable, so it doesn't affect anything there.
This is designed for people with fixed income. And so
as a result we never ask you for a payment
(09:21):
no matter how long you live. That's a requirement of
anyone any company that does a reverse mortgage. We can
never ask for any payment. And answer your question. There's
a lot of people when they have shortfalls on, uh,
on their, uh, monthly budget. Uh, and because they're on
fixed income, they incurred that through credit cards or other
(09:42):
places to borrow money, when in reality they have a
lot of wealth in their house. So while we don't
encourage deficit spending, sometimes it's unavoidable because of health issues
or because of simply things you have to do for
the house, or just simply something called the cost of living.
And so we can even that up. And it's very
difficult when you start incurring debt to make those payments,
(10:04):
plus take care of regular things. If we can eliminate
those payments, it almost always puts you in a place
where you can balance the budget. And so we'd be
happy to talk to you further. Um, it's certainly is
something that's designed for people like you. Uh, what we
always do at movement is we go over all of
your details, all of your budget and information, and say, yes,
this is designed for you. We're never going to put
(10:25):
you into a worse situation than where you started. But
my initial thought process from a little bit of information
you gave is you should certainly look into it, because
if we can get rid of some of those heavy
debt things and take those off your over your head,
you'll just feel a lot better.
S4 (10:40):
Okay.
S1 (10:40):
For any of you listening today that want you. Thank you. Evelyn.
Anyone that's listening today that wants more information can go
to movement. Evelyn, if you stay on the line, our
team will get your information. We'll send you a copy
of Harlan's book. And if we can help you get
connected directly, we'd be happy to do that. Uh, Vivian
is in canton, Ohio. Vivian. Go ahead.
S5 (11:00):
Yes. Hi. Um, I was wondering. Let's say you have
a home that's worth $200,000, and I decide to do
a reverse mortgage. Can I do it for maybe half
of that? For 100,000? And if so, later on down
the line, if I would want to take out more
of that equity. Is that possible?
S1 (11:23):
Yeah. Harlan.
S2 (11:24):
Yes. So we depending on your age, Vivian, we give
you somewhere between 30 and 70% of the value of
your home. Um, the younger you are, the less money
you get. The older you are, the more you get.
The way you set it up is we give you
a maximum amount of credit limit. So if your maximum
credit limit is, um, say, uh, 120,000, but you only
(11:46):
need 60. Well, we still give you the credit limit
of 120. You just pull out 60. So you're not
incurring interest on anything more than what you use. But
we give you the maximum, so you don't have to
refinance and spend more money and go through more hassle
and sign more papers in the future. That line of
credit continues to grow on whatever money that you don't use.
It's specifically designed, so once you get it, you will
(12:08):
not have to refinance. Sometimes it makes sense to refinance,
but most of the time we just keep giving you
more money as time continues because the value of your
house is theoretically going up. And of course, you're getting older.
S1 (12:22):
Vivian, do you have any follow up questions to that?
S5 (12:25):
It sounds too good to be true. Is there a
big downside to this that I should be aware of?
S2 (12:31):
Well, you know, I've heard that a few hundred times.
It's too good to be true. And, um, it's not. It's, uh,
it's too good to be free. There's a cost involved.
There's interest that we charge. And so at the end,
your heirs will get less because you've used money. But
of course, if you use money out of your IRA,
they get less too, because you're getting the cost of
living from somewhere. Just using wisdom. It just makes more
(12:54):
sense to take money out of your house instead of
taking money out of other places, or if you don't
have any other places, it makes sense to take money
out of your house. So we're just allowing. You've already
paid hundreds of thousands of dollars into your house over
the years. We're just allowing you to take some of
it back and still live in the house. So it's
your money. We're just giving you some of it back.
(13:15):
With a government guaranteed program that doesn't force you to move,
so many more people should consider it besides you because
they think it's too good to be true. But when
they look at the actual facts and the numbers, which
we'll be happy to go over with you personally as
to how it relates to you, because it's different for everyone.
I think that you'll find that it is not too
good to be true, but it is something that you'll
(13:36):
be glad that you checked out.
S5 (13:39):
Awesome.
S1 (13:39):
Vivian, you know, the cost of this is 2% up
front that gets paid to the FHA. That's what makes
this a non-recourse loan, meaning they can never come after
you or your heirs personally. It's only the equity in
the home to pay whatever the balance grows to. And
whatever's left is paid out to your heirs. And there is,
(14:00):
of course, an interest rate consistent with the current prevailing
rate and some fees that get attached to it every month.
So the balance will grow if you don't pay it.
But the payments are optional and you still own the home,
so it really can be a game changer for those
folks that just don't have the resources they need to
maintain their lifestyle in this fourth quarter of life. Stay
(14:20):
on the line. We'll get your get you a copy
of Harlan's book and we'll be right back. Thanks for
joining us today on Faith and Finance Live. I'm Rob West.
Today we're talking reverse mortgages. Perhaps you've misunderstood it like
so many people have. Listen, it's not for everyone, but
(14:41):
for somebody in this fourth quarter of life where they're
62 or older, they've got at least 50% equity. Maybe
they have an existing forward mortgage and that's their largest expense.
And I talked to a lot of folks that are
in that situation, and getting rid of that existing mortgage
is a game changer in terms of being able to
just enjoy this season and have enough resources to maintain
(15:02):
their lifestyle. Well, paying off a forward mortgage with a
reverse just eliminates the payment. Then it becomes optional. Many
take most, in fact, take a line of credit that
they have an optional payment on, and then others will
take a monthly check. But again, seeing this as a
tool to plan with in this season of life really
could be a game changer for you. And that's what
(15:24):
we're talking about today with Harlan. If you want to
learn more, go to movement. Let's head back to the
phones to Georgia Garland. Go ahead.
S6 (15:32):
Hi, my name is Garland. Thank you for taking my call.
I just had a quick question. So my mom and
dad were married for 67 years. My dad passed away
five years ago. My mom passed away a month ago. Um,
her house was on reverse mortgage, and I'm her trustee successor.
(15:53):
What have you. I just wanted to question, I want
how do you go about, um. I wanted to get
some expertise as of as far as selling the home.
And I know you can sell the home while it's
on reverse mortgage, but I have to get some permission
from reverse mortgage and all that.
S1 (16:13):
Yes. Very good. Harlon.
S2 (16:15):
Very important question, because a lot of people say, well,
this might be great, but it doesn't end well. It
actually ends very well if you know what's happening and
we can help you with that, even if it's not
our mortgage, we know a lot about it. Um, if
you get your info, I'll send you a copy of
the book called Navigating Reverse, which is designed specifically for
the people that are left behind. And also we will
(16:38):
give you a custom understanding based on who your servicer is,
how that should be handled. You basically have a year,
but there's different time frames along that year that you
have to do certain things, but you can certainly sell it.
It belongs to you, it doesn't belong to the lender.
And we'll go through the process with you to help you,
to make sure that it's done correctly and that you
(16:59):
don't lose anything. And we'll review each of the different
steps with you. And by the way, if you you
can go to movement com or call our our main
line which is 580 reverse. Um and we'd be happy
to just go through the process with you as to
what is the best way to handle the disposition of
(17:20):
the property. You may even want to refinance and keep
the house too. Some people do want to do that
for rental property or whatever, but we'll give you all
the options.
S1 (17:30):
Very good. Is that helpful to you?
S6 (17:32):
Yeah. Can I ask one more quick question to him
before I.
S1 (17:35):
Of course. Yeah.
S6 (17:37):
Okay.
S7 (17:37):
So. Sure. How can I.
S6 (17:39):
I, um, I live in Georgia. I'm from Los Angeles.
My parents home is in Los Angeles. And the question
that I want to ask is that, um, you said
that you have a year or so, so I've already
sent the death certificate to them. Um, told them that
my mom was deceased or what have you. She's the
(18:00):
last deceased owner of the home, and I sent all
that information to them, and, um, I haven't heard anything
back from them. Like, what does my mother owe on
her reverse mortgage? Is it a little amount? What amount
does she owe? How do I get that information?
S2 (18:20):
Well, you should have already got it. But if you haven't,
we'll help you with that, because we work with all
of the servicers directly, even the loans that are not ours.
And so we will help you get that. They should
have already sent that to the address on record. But
if they have not, sometimes that obviously goes to the
wrong place. So just know and we'll help you get
(18:42):
to what the payoff is. So you know the best
way to do it a real estate agent that we
trust in that area.
S1 (18:48):
Yeah. Unfortunately, Harlan, we're, uh, we're losing you again. So
let's see if we can get that line cleared up. But, uh, Garland,
thanks for your call. We'll, uh, if you hold the line,
we'll get your information and get someone from Harlan's team
connected with you just to help you walk through this
process so you understand the proper disposition. If you have
any questions, you'll have a knowledgeable sounding board there, uh,
(19:10):
to be able to, uh, you know, follow up on
and get more information. Uh, thanks for your call, Garland.
Lord bless you. And if we can serve you further,
don't hesitate to reach out. Uh, let's go to Cal.
Let's see. California. Olga, how can we help?
S8 (19:25):
Yes. Uh, thank you for taking my call. I have
two questions, and I think I already got the answer
for both of them, but I just wanted to make sure.
Wanted to know how old you need to be to
apply for the reverse mortgage. And secondly, if and when
I decide to put the house on a living trust,
how is that going to work? Will I be able
(19:45):
to do that or not?
S1 (19:48):
Yeah. Great questions. So with regard to the age, it's
62 or older, uh, that you would need to be.
And um, if you have a younger spouse, um, you know,
you could put that person on it, but 62 or older.
And then beyond that, um, with regard to the living trust,
it's generally allowed. So the lender's routinely work with revocable
(20:13):
living trust because the trust is still under the control
of the homeowner. Um, and so you just need to
be the one that's created it and the beneficiary of it.
The lender will review the trust in this case, you know,
the team at movement could check it out. And then, um,
you know, they would be able to often, in most cases,
proceed with the reverse mortgage, even though it's a revocable
(20:35):
living trust situation.
S8 (20:37):
Okay. Well, I still got a ways to go. I'm 55, so.
S1 (20:42):
Okay. Yeah, you got a little ways to go, but, uh,
the movement team will be there when you're ready. So, listen,
thanks for your call today. If we can help you further,
don't hesitate to reach out. 800 525 7000. Harlan, I
think we've got you back. Uh, are you there with us?
S2 (20:57):
I am, I.
S1 (20:57):
Can hear you. Yeah.
S2 (20:58):
I guess you couldn't hear me now.
S1 (21:01):
Yeah, we were we were starting to lose you there, but, uh,
sounds like it's cleared up. We'll do our best to
keep you with us throughout the rest of the program.
We got calls stacked up. We'll be headed to Cleveland
here and talk to Rosie after the break. We do
have two lines. Open 800 525 7000. You know, here
on faith and finance. Our goal every day is just
to encourage you as you manage God's money faithfully, help
(21:24):
you understand that it's all a good gift from God.
It's a tool to be used to bring God glory
to manage for his purposes, which includes enjoying it and
using it to provide, also, giving it away and investing
it strategically. When we do that, I think it's God honoring.
That's what we've been called to faithfulness as stewards of
what God has entrusted to us. I hope this program
(21:45):
has helped you do that just a little better. And
we're going to take a quick break. Harlan will be
back with us after this. We'll tackle some more questions.
Stay with us. Thanks for joining us today on Faith
and Finance Live. Hey, just a quick reminder, especially here
(22:06):
in the fourth quarter of the year, it is October
halfway through it. Uh, this is an important time for
us to hear from you as a listener supported ministry.
We count on your support to be able to bring
you this broadcast our app, all of our studies and devotionals,
including the new one coming out right at the first
of the year. It'll be the first Devotional that I've written,
(22:27):
and I've put together what I think are the 21
topics that you need to know to operate from a
biblical worldview, handling God's money God's way. If you spend
three weeks, one per day and work your way through this,
I think you'll have a good handle on, at least
from my perspective, God's heart on money management that we
see in Scripture. That's an example of the kinds of
(22:49):
resources we're producing every year, and we send to our
partners each year. But if you would consider a gift
of any amount at this time of year, we'd certainly
be grateful. Just go to faith. Com that's faith. Com
give and thanks in advance. We're talking today with our
friend Harlan Accola. He's with Movement Mortgage, an underwriter of
this program. Answering your questions today on reverse. And by
(23:12):
the way, if you have a need some help in this,
need some education. Want to talk about your specific situation?
Just head to movement. Com to learn more. Uh, Harlan,
we're going to head back to the phones here in
just a second. By the way, we do have two
lines open at 805, two five, 7000. Um, but we
started today by talking about specifically reverse mortgages as it
(23:35):
relates to widows. And I know you've worked with so
many people in this situation. What tends to happen when
the husband is the first to pass, which, as we've said,
is what happens most often, at least statistically?
S2 (23:49):
Well, it was a big shock for most people is
the income usually goes down immediately, uh, by 40%. Um,
and that's difficult to deal with, especially when people are
on a fixed income. In addition to that, not only
does that happen, um, but, uh, the sometimes a pension
(24:10):
is lost. Uh, maybe the husband is working part time,
so sometimes the income loss is even greater than that.
And if there's a mortgage payment, sometimes it just becomes
impossible to pay it. Um, and the house goes into
foreclosure and everything was fine right before the husband had
a heart attack or was lost or whatever, and everything
(24:30):
was sailing along real well. Um, and it's such a
dramatic change. And while they're dealing with grief now, they're
also dealing with financial crisis, which is totally unnecessary.
S1 (24:42):
Yeah. Yeah. Well, it's well said. And I think that's
where this can be a tool to help rectify a
situation like you're describing. Uh, let's head back to the phones,
taking your calls and questions for today to Cleveland. Rosie.
Go ahead.
S9 (24:55):
Yes. Um, thank you for taking my call. Um, my
daughter and I have been discussing, um, different types of things,
you know, that I could do, seeing that, um, I'm
in a good position. The the the mortgage is almost
paid off. Uh, I, you know, about 42,000 left. Um,
I'm 67. The problem. The problem is I had looked
(25:19):
into a home equity line of credit, and it's it's
just not feasible that I should do that. And, and um,
because my interest rate right now is 4.25 and finding
out that if I take the home equity line of credit,
it would go back to whatever the current rate would
be and that would just knock me out. I don't
(25:40):
want to do that. So, uh, when I heard it
announced that you guys were going to be talking about
reverse mortgages, I said, well, maybe that could be something
that's feasible. Um, because I'm looking to do some home
repairs and some dental work for myself, and, um, I
just don't have the extra to be able to do it.
S1 (25:59):
Yeah. Harlan.
S2 (26:01):
Yes, Rosie. Um, I think the big thing, first of all,
interest rates are lesser in comparison to cash flow in retirement.
And so while interest rates are important and those should
definitely be looked at and evaluated as part of it,
the biggest issue, uh, is liquidity having liquid money available
to take care of repairs or dental work or whatever
(26:22):
the issue is. Um, and so what the reverse mortgage
allows you to do is to have money available if
you need it, and make payments if you want to.
It's designed specifically for people in your situation in the
fourth quarter of life. And if you want to pay
it back, you can. And if you don't want to,
you don't have to. And the fact that you and
your daughter are talking about it is perfect because almost
(26:45):
all the time, unless people don't allow us to, we
want to talk to the next generation so they understand
what's going on with their parents. Um, so we'd love
to visit with, excuse me, you and your daughter to
find out if this really fits in with what you
want to do. And it sounds to me like you're
like hundreds of our other clients that have done exactly
the same thing to be able to take care of
(27:06):
their doing fine otherwise. But it's just those extra things
that come along like repairs, car repairs or house repairs
or dental work or medical issues, whatever it may be.
I'd loved, to visit with you further, to find out
if it might work for you and and your daughter
at the same time.
S1 (27:25):
Very good. Rosie. Is that helpful?
S9 (27:27):
It certainly is. And so I will go on to movement.
S1 (27:33):
Yes, ma'am. That'll be the where you can go to
fill out your information. And, uh, and if you stay
on the line, we'll get you a copy of Harlan's
book as well. Um, our team will send that out
to you as our gift to you. Thanks for your
call today, Rosie. Uh, let's go to Minnesota. Hi, Lois.
Go ahead.
S10 (27:49):
Hi. Um, my question is, if you get involved in this, uh,
trust reversible mortgage and you end up in the nursing home,
then what happens?
S2 (28:03):
Yeah, unfortunately, that sometimes happens. What my parents did is
they used the reverse mortgage to stay at home, and
they use some of the money to have home care
instead of going to a nursing home, because they did
not need 24 hour care. Unfortunately, some people do need
24 hour care and they have to move. When that happens,
the loan is is is simply called due because you
(28:25):
are no longer going to be living there and you
don't want an empty house anyway. So most people sell
their house at that point anyway, and whatever money is
left over comes to you. Um, so that you can
use that for additional care or, uh, whatever your goal
is from that perspective. Um, if the kids want to
keep the house, they can, of course, uh, just take
(28:46):
care of the loan, refinance the loan into their own
name or whatever. Usually that doesn't happen, but that is possible. Um,
but certainly it is not a problem for that. It's
just one of the requirements of a reverse mortgage is
that you're living in the house, and if you no
longer are living in the house, obviously you don't need
it any longer. And we don't want to have an
empty house any more than you do. And so it's
(29:08):
required to be sold within a year after you would
permanently move out. But a majority of our clients use
the money for a little bit of home care so
that they can stay in the house, because I guess,
like Dorothy said in The Wizard of Oz, there's no
place like home, and everybody feels that way. And the
longer we can keep you in your house, usually the
better it is. But that's different for every person.
S1 (29:31):
Yeah. Harlan, what is the definition of permanently moving out
of your home? Is that six months?
S2 (29:36):
No, it's really not that. There has to be a
doctor's letter that says you cannot return to your house.
My father had a stroke, and he was out of
the house with major rehab and in and out of
nursing homes for over a year. Um, and so he
did not move out, and he was planning on coming
back and he did come back. And so we're not
in a hurry to call the loan due. It's just
(29:57):
when somebody for sure is not coming back, it doesn't
make sense to have an empty house anymore. But we're
very careful about calling that loan due. It's got to
be for sure. And a doctor has to tell us that.
S1 (30:10):
Very good. Lois, is that helpful?
S10 (30:13):
Yes, I. Is there any way that if, uh, you
could put your home in something so the state wouldn't
get it? If something happens to you, just your children
could get it and keep the state out of it.
Or isn't there any way?
S1 (30:28):
Yeah. With regard to if you needed Medicaid, is that
what you're thinking?
S10 (30:32):
Yeah.
S1 (30:34):
Okay. Yeah, I can address that after this break. So
why don't you, uh, hang up, Lois, and then we'll
we'll touch on that right after this break. Thanks for
your call today, folks. We're going to take a quick
break and then back with our final segment, Harlan Ackley
here today. Lots of questions remaining. We'll get to as
many as we can right around the corner. Stay with us.
(31:04):
You know, when you get to the fourth quarter of
life and you're trying to put all the pieces together,
a lot of decisions to be made. And we want
to help give you some counsel here today. We're talking
specifically about one tool. And that's all it is that
a lot of folks take advantage of in this season
of life and often misunderstood tool that is a reverse mortgage. Now,
many folks get to this point in life and they're
(31:24):
debt free and they want to stay that way. And
that's great. And they've got plenty of assets to cover
their income needs. In some cases, that's just not the
way it is. And so therefore they're looking at what's
the most efficient way to fund lifestyle, factoring in the
taxes and the assets that we have. And you know, often,
as Harlan likes to remind us, Harlan is at what,
14 trillion that's in home equity right now. Is that right?
S2 (31:48):
And that is correct. And it's going up every day.
S1 (31:51):
Yeah. Yeah. Especially as the these home prices continue to increase.
So what an opportunity. And that's what we're talking about today.
We'll get back to the phones here in just a moment.
But before we do Lois teed something up that we
hear uh, periodically on this program where people want to
know if I go into a nursing home, what protects
my home for my heirs, Especially if I run through
(32:12):
my assets and I end up having Medicaid, you know,
below the asset limits. Uh, apart from my home fund,
some of my care. And I know this is something
you teach on all the time. Would you share a
little tidbit on what might that look like?
S2 (32:27):
Sure. This is a huge subject, and we could easily
spend an hour talking about this, and we don't have that.
But the first thing to know is that every state
is different. All the rules are different. In the 20
years that I've been in this business, um, no state
has ever taken any of the out of thousands of
mortgages that we've been involved in. No state has ever
(32:48):
taken a house that had a reverse mortgage on. Most
of the time, they take a house that's free and
clear after the person has passed. So, um, there is
a state planning that needs to be done, attorneys that
need to be consulted. I don't have a law degree. Um,
but everybody should look into this because there's all kinds
of people that say, I want to give a certain
(33:09):
inheritance to my kids. There's all kinds of ethical situations
around that of who should pay for care and so
on and so forth. Um, some people have insurance. Most
people don't. It is a very big discussion. And often
the attorneys that we work with are reverse mortgage is
part of the solution of what ends up going to
the kids in the end. So I'd be happy to
talk to Lois or anybody that's on the listening today,
(33:32):
to go further into that, of how this fits into
long term care planning, how it fits into estate planning
and preserving an asset that you want to go to
the children. Um, it is not a simple nobody has
a simple, easy magic bullet, but often the reverse mortgage
and an attorney can be part of that in figuring
out how best to do that, that your wishes happen
(33:55):
after you're gone or unfortunately, after you no longer have
mental capacity.
S1 (34:00):
Yeah, okay. That's helpful. Thank you for that. Harlan, let's
head back to the phones to Indianapolis. Hi, Lee. Go ahead.
S11 (34:08):
Ah, yes. My question was, uh, when you have a
reverse mortgage, is it a fixed rate mortgage or a
variable mortgage? And then, uh, if I do that, what
kind of cost would be passed on to my heirs
once I'm deceased?
S2 (34:23):
Yes. Very simple question. Uh, thank you for that. Um, uh, the, uh,
you can get a fixed or an adjustable rate. There's
advantages and disadvantages to both. It probably makes more sense
to do an adjustable right now, because it's more likely
that interest rates will go down. But we give you
both options. Uh, the cost that your heirs will take
care of is the money that you've used, plus the
(34:43):
accrued interest and the closing costs that were incurred in
the beginning. We make it very clear to you in
a report before you ever get into it, uh, that
shows you, based on what you're going to borrow and
what you expect to borrow, what you will owe at 65,
at 75, at 85, at age 100. Um, and what the, uh,
(35:04):
based on whatever interest rate is selected and how you
do it. What the average is. So we can come
pretty close to what you owe. If you can tell
us when you're going to die, which obviously most people
can't do, but we give you a good understanding of
what is there. But be aware that no matter what happens,
your kids will never owe more than the house is worth,
even if you live a long time. But we will
(35:26):
give you a pretty good idea of what's going to
be left. And because of the increasing values of houses,
usually there's more equity left at the end than there
was at the beginning with the reverse mortgage because of
that value. And we're only giving you 30, 40, 50%
of value early in life anyway, early in retirement. So
great question. Uh, there's really no different than taking money
(35:46):
out of an IRA. There's going to be less for
the kids at the end.
S1 (35:50):
Yeah. Lee, is that helpful?
S11 (35:53):
It's worth 300. Yes it is. And if my house
today is valued market value at $320,000 and it's paid for, um,
how much of that am I able to take out
of that in reverse mortgage.
S2 (36:06):
How old are you, Lee? What is your age, Lee?
S11 (36:11):
Five. 65.
S2 (36:14):
65. So you're eligible for about 35% of the value.
So you'd get about $100,000 in the beginning in a
line of credit, and then it grows at about 6%
a year. So next year would be 106, the year
after that, 112 and so on. But you'd initially get
somewhere between 100 and 120, depending upon exactly how the
appraisal came out, about a third of the value. And
(36:35):
because you're on the young side, you're 65. If you
were 75, would give you 200 and some thousand. So
you get about a third of the value of the
house in the beginning stages when you're young like that.
S1 (36:49):
Lee, thanks for your call today. We appreciate you being.
I'm sorry. Did you have another question?
S11 (36:54):
Does it make sense to take take that loan out
sooner rather than later?
S2 (36:58):
It definitely makes sense. A lot of people say, well,
I'll just wait until I need it. The best time
to borrow money is when you don't need it, and
the earlier you take it out, the more it grows to.
If you take it out at 65 and you don't
need it until 75, your $100,000 line of credit would
have grown to 200,000. So you're far better off taking
it in the beginning, um, even when you don't need it.
That's what my dad did and when he needed some
(37:19):
health care needs, it was there. Um, so the earlier
you take it out, the better, because it gives you
more time to grow. And you're not paying interest on
money that you're not using. You're gaining more equity availability.
So the earlier you do it, the better, uh, so
that you know that that's there for you in the future.
S1 (37:38):
And Harlan, that's your story as well. Didn't you take
one out at 62?
S2 (37:42):
I did, I turned 62 on April 26th. On April 27th,
in the morning at 8:00, I did my reverse mortgage.
So because I know the numbers and I know what
makes sense, I didn't need it, but it certainly made
sense to do it as early as possible, because I
went through the numbers enough times for everybody else. I
couldn't wait to get to be 62.
S1 (38:01):
That's great. Hey, Lee, thanks for your call. Stay on
the line. We'll send you a copy of Harlan's book. Uh,
hopefully that's helpful to you. And again, folks, if you
want to learn more, connect with somebody at the team there.
Just go to movement.com slash. Uh, let's go to Mississippi. Hi, Nancy.
Go ahead.
S12 (38:16):
Hello. Um, thank you so much. Um, I have a
home equity line of credit. I'm 75, and I just wondered,
how does that work in getting a reverse mortgage?
S2 (38:34):
Well, that's a question that we get asked all the time. Nancy,
many people have lines of credit, which is usually a
wise thing to do when you're younger. You take out
a line of credit. So if you need money, it's there.
Even if you don't use it. And it's just sitting
there as an availability. Um, uh, with uh, the difference though,
when you get to be 62, uh, past 62, uh,
which you're a little ways past that at 75 is
(38:57):
you should get a different line of credit. That guarantees
three things. It's always available. It always goes up no
matter what happens to home values. And you never have
to make a payment. So, um, unless you want to.
So you have the complete flexibility and it cannot be
canceled even if the house value goes down, even if
(39:18):
something bad things happen with the economy, even if some
bad things happen with your credit. So to be able
to have replace that existing line of credit which is
designed for young people, then we simply give you one
that's designed for people that are in retirement and past 62. And, um,
a lot of people say, well, I've already got this one. Well,
a lot of people don't realize is regular lines of
(39:39):
credit can be canceled, even when people lost their homes
in the fire or in with the hurricanes, that line
of credit was still available that they could use to
rent before they rebuilt, and so on. So it's something
that is a guaranteed line of credit. We call it non-recourse.
And that guarantee is very important because if we have
another housing crash like we had in 2009, it's very
(40:00):
likely a regular line of credit would be cancelled. Um,
so it's very important that you just make sure that
when you need money that's available, you want an umbrella
that's not taken away when it starts to rain. So
excellent question. And a very important one, Nancy. And we
can kind of go through the options and the pros
and cons and what you're eligible for because you went
(40:20):
past that age of 62.
S1 (40:23):
Excellent, Nancy. Thanks. Victoria is in Franklin, Tennessee. Victoria, we've
got just a minute and a half left. How can
we help you?
S12 (40:30):
Well, thank you for taking my call. I've heard a
lot of things that are helpful, and I think I'll
definitely call and talk to movement about it. Because we
are 65 and 70. My husband and I are still working,
but we know that really our our retirement is our house.
So the idea that maybe we could stay in our
house and still retire. Sounds wonderful.
S7 (40:53):
Well, we'd love to help people like that.
S2 (40:54):
It changes a tremendous amount of things. I'm so glad
you called Victoria, and we'd love to go through it.
And you know, some people don't like to go on
the websites or they don't have that as much. And
you can always call 580 reverse. It's an easy number
to remember. 7383773 for anyone that wants to not not
that you're getting one, but just that you want to
talk about how it fits. Maybe something you do in
(41:16):
the future. It's just a good idea to say, hey,
how does this work? How would it fit with me?
Whether you do it or not, at least you know
what your options are. And so many people get to
70 or 80, and they the biggest complaint that they
have is, why didn't I do this earlier? How come
I didn't find out about this earlier? It's very wise
that you're checking it out now. And we sure appreciate
(41:36):
your call in. Victoria.
S1 (41:39):
Victoria, stay on the line. Our team will get your information.
We'll send you a copy of this book. And again
movement.com slash. Faith is the is the place to go.
Harland I really appreciate you, my friend. Appreciate your just
your approach to this. I know you're all about kingdom advancement.
You're all about helping and educating God's people, and that
comes through every time you join us. So thanks for
(41:59):
your time.
S2 (42:01):
Thanks for the opportunity. Really appreciate what you do, Rob.
S1 (42:04):
All right. Lord bless you. Well, folks, again, that's Harlan Achola.
He's with Movement Mortgage, an underwriter of this program. He's
our go to guy on reverse mortgages. Again, if you
want to learn more just go to movement.com slash. What
a treat to be along with you today. So thankful
for my team that makes this happen each day. Josh Taylor,
Omar Tahera and everybody here at Faith by making this possible,
(42:27):
want to remind you that Faith and Finance Live is
a partnership between Moody Radio and Faith Fi. And again,
if you'd like to support our work as a listener
supported ministry, we cannot do this without you, and especially
this time of year as we head toward year end.
Really important for us to hear from you at Faith. faith.com. Slash. Give.
(42:48):
Enjoy the rest of your day. Come back and join
us tomorrow. We'll see you then. Bye bye.
Popular Podcasts
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.