Podcasts about hecm

This week's developments across the reverse mortgage, retirement and housing sectors highlighted an increasingly important reality for the HECM industry: retirement pressure is intensifying, and home equity is becoming more central to how older Americans manage financial stability later in life. From HUD audit failures exposing vulnerable reverse mortgage borrowers to potential default, to Illinois rolling out one of the nation's most comprehensive home equity investment regulatory frameworks, the conversation around housing wealth continues shifting from optional strategy to financial necessity. At the same time, new retirement research, capital gains concerns and mortgage assistance initiatives all reinforced the growing importance of liquidity, income sustainability and aging-in-place strategies. For reverse mortgage professionals, the environment continues becoming more strategic, more policy-driven and more interconnected with mainstream retirement planning.

Tom and Don tackle one of retirement planning's most misunderstood tools: reverse mortgages. Using the analogy of “selling your house in slow motion,” they explain how modern HECM reverse mortgages work, why they've become more regulated and potentially more useful, and why they may deserve consideration for retirees who are house-rich but cash-poor. The duo breaks down the real costs, the cash-flow benefits of eliminating a mortgage payment, and the tradeoffs between preserving home equity and improving retirement security. Listener questions cover the differences between money market funds and bond funds like Vanguard Total Bond Market ETF, ETF versus mutual fund fees, and another spirited debate over Bitcoin and whether it truly has intrinsic value.0:05 “Money in slow motion” and the reverse mortgage analogy1:48 Why reverse mortgages still have a terrible reputation2:33 America's massive home equity and retirement savings comparison4:34 Celebrity reverse mortgage spokespeople and the “wild west” era6:11 How modern HECM reverse mortgages actually work7:14 Reverse mortgage costs, fees, and borrowing limits by age9:06 Real-world example of accessing equity from a million-dollar home10:25 Why reverse mortgages still feel like a last resort11:13 The biggest hidden benefit: eliminating mortgage payments12:17 The compounding impact of reverse mortgage interest13:24 Shockingly low retirement savings statistics in America15:10 Would Tom or Don personally use a reverse mortgage?17:05 Listener question: money market funds vs. bond funds21:10 ETF versus mutual fund fees and whether ETFs are worth it25:10 Listener pushes back on Don and Tom's Bitcoin skepticism26:58 Military testimony, blockchain hype, and Bitcoin promotion30:39 Final thoughts on crypto evangelism and speculative investingQuestions? Comments? Click!

Good morning, good afternoon, and welcome back to the podcast! It has been an incredibly busy week and a half. We're slightly off our normal release schedule, but for good reason—there is a ton of movement in the market right now, from foreclosure auctions to a brand-new roadshow I'm putting together across Oklahoma and North Texas. Today, I want to take you behind the curtain of an exclusive event I attended right here in my backyard of Austin, Texas: HousingWire's "The Gathering." HousingWire is arguably the premier source for mortgage and housing industry news, and their annual event at the Omni Barton Creek Resort brings together over a thousand top-tier mortgage professionals. I didn't just go to listen to the speakers; I went to see where the industry is moving. I'm sharing the "Big Three" takeaways that every real estate and note investor needs to know to stay ahead in 2026. Key Industry Shifts & Tech InnovationsThe Power of Networking (and Crashing the Party) The event was a $2,000 ticket, but as I always say, you don't always have to pay to play. I spent four hours walking the vendor floor and meeting with people. In that short window, I made 20 solid connections and even met with a note investor from New York who wants to build a note trading platform. The lesson? Get out there. Whether you're attending a local REIA club or a national conference, the value is in the hallway conversations. Takeaway #1: The AI Revolution is Non-Negotiable The overwhelming factor at the event was AI. It is no longer just a buzzword; it is becoming the backbone of high-performing teams. AI Agents: Companies are now using AI agents to handle "contract-to-close" management, scheduling, and even cold-calling leads. Maximizing Output: The focus is on minimizing manual input to maximize output, allowing smaller teams to outperform larger, legacy operations. Due Diligence: We are personally looking at ways to integrate AI for better borrower outreach and more efficient due diligence. Takeaway #2: Rethinking Your Tech Stack If you haven't updated your "tech stack"—your combination of CRM, booking tools, and communication apps—in a while, you are likely overpaying. Consolidation: Modern apps are combining Zoom, Calendly, and webinar platforms into one compact space. Cost Savings: By streamlining our house tools, we're looking at saving $1,200 to $2,000 a year while gaining better features for our webinars and training classes. Takeaway #3: The Return of Distressed Assets There was a heavy focus on the return of the distressed borrower. Now that COVID-era handouts have expired, we are seeing a visible trend in rising foreclosures and defaults across the country. Probate Solutions: I connected with a company called Scriber that specializes in expediting the probate process—potentially cutting it down to 30 days. This is a game-changer for those of us buying reverse mortgages or HECM loans where probate is often a major roadblock. Credit Optimization: New services are helping non-performing note buyers by "hand-holding" borrowers to optimize their credit scores, making them eligible for refinancing sooner. The market is changing, and the "MacGyver style" of investing—trying to piece things together with duct tape—is not going to work anymore. You have to invest in yourself, upgrade your marketing, and embrace the technology that is available today. Don't sit on the sidelines just trying to wholesale for thin margins. Develop the skills to handle these deals yourself. Go out, take some action, and we'll see you at the top!Watch the Original Video HERE!Book a Call With Scott HERE!Sign up for the next FREE One-Day Note Class HERE!Sign up for the WCN Membership HERE!Sign up for the next Note Buying For Dummies Workshop HERE!Love the show? Subscribe, rate, review, and share!Here's How »Join the Note Closers Show community today:WeCloseNotes.comThe Note Closers Show FacebookThe Note ClosGet Signed Up For the Next Note Buying Workshop HERE!

summary Explore the ins and outs of reverse mortgages with expert Laura Phillips, including misconceptions, costs, and practical uses for homeowners aged 62 and older. Learn how reverse mortgages can support aging in place, fund education, and provide financial security.  key  topics What is a reverse mortgage and how does it work Common misconceptions about reverse mortgages Cost structure and mortgage insurance explained Uses of reverse mortgage funds: aging in place, education, second homes What happens when the homeowner passes away  Guest Laura Phillips Home Equity Strategist | Creator of The Equity Shift Turning Home Equity Into Life Options Explored carefully. Decided thoughtfully. Licensed Mortgage Professional NMLS # 281098 MAC5 Mortgage Inc NMLS # 199325 Licensed in CO, CA, FL Equal Housing Lender  303-817-4611  WWW.LauraPhillips.com  laura@lauraphillips.com Laura Phillips is a Licensed Reverse Mortgage Specialist with over 25 years of experience in real estate lending, dedicated to guiding clients through the HECM and reverse loan process to ensure they make informed financial decisions for their futures. Serving all of Colorado, California and Florida, she specializes in FHA HECM and proprietary Portfolio Jumbo Reverse loans, helping her clients enhance cash flow and preserve their retirement assets. Laura believes that a home is more than just a house; it's a significant financial commitment, and she is committed to helping families enjoy their best years in their homes. sound bites "Reverse mortgages allow aging in place comfortably" "A reverse mortgage can fund a trip around the world" "Find a lender you trust for this important decision" Chapters 00:40 Introduction to Reverse Mortgages 02:21 Understanding HECM and Its Benefits 04:25 Common Misconceptions About Reverse Mortgages 06:00 Costs and Fees Associated with Reverse Mortgages 08:20 Accessing Funds from a Reverse Mortgage 10:57 Homeownership and Reverse Mortgages 12:31 Using Reverse Mortgages for Various Needs 13:16 What Happens When a Homeowner Passes Away? 15:31 Aging in Place and Reverse Mortgages 18:15 Unique Uses of Reverse Mortgages 20:49 Considerations Before Choosing a Reverse Mortgage 23:43 The Importance of Family Discussions 26:20 Conclusion and Contact Information      

HECM World Weekly has a new home on Fridays and a new host in Gabrielle Hayen. This week we dig into what the latest retirement confidence research means for reverse mortgage professionals, why Gen X is heading into the HECM demographic under serious financial pressure, and why Boomers are sitting on a massive amount of equity with no plans to move. We also cover the February 2026 TPO-Broker Report now that HUD has finally released the data. A lot to unpack this week.

[Yahoo Finance] The HUD-approved HECM counseling agency Greenpath Financial Wellness reveals the shocking truth 20% of counselees are facing. [Housing Wire] Industry expert Dan Hultquist explains how most home equity advice is not appropriate for older homeowners.  [The Daily Mail] Thanks to new assessment fees, many older Florida condo owners are forced to sell their condos for pennies on the dollar. Watch our video podcast here!

In this episode, Wade Pfau and Alex Murguia revisit reverse mortgages and explain why they are often misunderstood in retirement planning. Rather than a last-resort tool, they frame modern HECM reverse mortgages as a strategic asset that can enhance retirement outcomes when used properly. The discussion highlights how a growing line of credit can act as a buffer against market downturns, improve tax efficiency, and even provide reliable income, ultimately making the case that home equity should be actively coordinated alongside investments and Social Security in a well-designed retirement plan. Listen now to learn more!   Takeaways  Reverse mortgages are often misunderstood and unfairly dismissed based on outdated myths Home equity should be treated as a usable retirement asset, not just a legacy asset A reverse mortgage line of credit can serve as a buffer asset to manage the sequence of returns risk The line of credit grows over time, increasing flexibility even if unused Loan proceeds are not taxable income, which can improve tax efficiency in retirement Reverse mortgages are more reliable than HELOCs since they cannot be frozen during market stress They can provide guaranteed income streams through tenure or term payment options Using a reverse mortgage early as part of a strategy is typically more effective than waiting until it is a last resort Chapters 00:00 Introduction to Reverse Mortgages 02:30 History and Evolution of Reverse Mortgages 05:51 Understanding the Myths and Misconceptions 10:07 The Logic Behind Reverse Mortgages 13:34 The Growing Line of Credit Explained 16:45 Buffer Assets and Their Importance 17:39 Exploring Buffer Assets in Retirement Planning 20:11 Understanding Reverse Mortgages as Income Streams 23:15 The Mechanics of Reverse Mortgages 28:17 Cost Considerations for Reverse Mortgages 30:09 Identifying Ideal Candidates for Reverse Mortgages 34:09 Last Resort Options and Their Implications   Links

Reverse mortgages still trigger an automatic “nope” for a lot of homeowners, and we get it. The stories from decades ago were messy, confusing, and sometimes genuinely harmful. But the modern version, the FHA insured Home Equity Conversion Mortgage (HECM), has safeguards that make it a very different conversation especially for seniors who want to stay in their home, protect a spouse, and unlock cash flow without selling.We sit down with Admiral Flender from Fairway Home Mortgages to explain how a HECM really works: who qualifies at age 62+, what lenders look for in the financial assessment, and why property taxes and homeowners insurance matter so much. We also talk about the “maturity event” timeline, how heirs typically have time to sell or refinance, and the counseling step required through HUD that helps ensure the borrower fully understands the loan and is not being pressured.Then we dig into the feature that surprises most people: the reverse mortgage line of credit. We explain how it's different from a traditional HELOC, how it can grow over time, and why some homeowners use it as a standby emergency fund for retirement, healthcare, or major home repairs. We also cover real tradeoffs like upfront costs and why a HECM may not be the best fit if you expect to move in the near term.We close with a strategy many buyers and even realtors miss: HECM for purchase. Yes, some seniors can right size or even upgrade to a home that fits their life better and still avoid a required monthly mortgage payment, as long as it's their primary residence. Subscribe for more practical downsizing and retirement housing guidance, share this with someone who's nearing retirement, and leave a review with your biggest question about reverse mortgages.Admiral FlunderFairway Home Mortgage1-206-890-9961admiral.flunder@fairwaymc.comWe Would Love to Hear Your Feedback!Mid-Roll Ad

Is Rising Inflation Eating Away at Your Retirement Savings? A HECM Could HelpOuch! Did you wince at the gas pump today? We all did. It feels like the cost of everything is going up, doesn't it? From filling your tank to stocking your fridge, inflation is hitting hard, and retirees on fixed incomes are feeling the pinch more than most. And those higher gas prices? They ripple through the economy, pushing up the cost of groceries, deliveries, and just about everything else you buy. If you're relying on a pension and Social Security, you might be wondering how you're going to make ends meet. Is it time to tap into the equity in your home to create a financial safety net? For many retirees, a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, might be the answer. Let's explore how a HECM line of credit could provide a valuable cushion during these inflationary times.Navigating Inflation on a Fixed Income with a HECM LoanRetirement should be a time of relaxation and enjoyment, not constant worry about stretching your budget. But with inflation stubbornly high, even carefully planned retirement budgets can quickly fall apart. How do you manage the rising costs of food, gas, and everyday supplies when your income is relatively fixed?Supplementing Income with a HECM Line of CreditA HECM loan allows homeowners aged 62 and older to borrow against the equity in their homes without making monthly mortgage payments. (You're still responsible for property taxes, homeowners insurance, and any applicable homeowners association fees). The loan proceeds can be received as a lump sum, a monthly income stream, or, most commonly, a line of credit. This line of credit is a flexible tool that you can access when you need it most, allowing you to supplement your income and cover unexpected expenses without selling assets or drastically cutting back on your lifestyle. Learn more about different mortgage options: Refinancing options.Flexibility to Cover Essential ExpensesImagine you need to replace a major appliance, like a refrigerator or washing machine. These unexpected costs can really throw a wrench into a tight budget. With a HECM line of credit, you can access the funds you need without having to dip into your savings or put the expense on a high-interest credit card. The funds can be used for anything you need, providing peace of mind and financial flexibility.How a Reverse Mortgage Can Help Offset Rising Medical CostsHealthcare costs are consistently one of the biggest expenses for retirees. As we age, we often require more medical care, medications, and potentially long-term care services. Inflation only exacerbates this problem, driving up the cost of everything from doctor's visits to prescription Didier Malagies nmls212566DDA Mortgage nmls324329https://www.ddamortgage.com/blog#HECM #ReverseMortgage #RetirementPlanning #Inflation #FinancialSecurity #Retirees #HomeEquity Support the show

[Housing Wire] A widow of a HECM borrower was seeking non-borrowing spouse protections until she was foreclosed on. A Lawsuit followed. [Housing Wire] A default judgment led to one creditor attempting to force withdrawals from one HECM borrower's line of credit. Here's what the courts said.  [HECMWorld] Reverse plus Analyzer is now integrated with these proprietary loans. Watch our video podcast here!

[Housing Wire] President Trump signs two executive orders that address housing affordability and homebuyers' credit. [HECMWorld] Exclusive Interview: Sometimes a HECM or reverse mortgage isn't the right fit. Do homeowners always need zero mortgage payments? HighTechLending's Eric Ellsworth shared how Equity Select can help to fill the gaps. [Housing Wire] How home modifications and Accessory Dwelling Units (ADUs) help homeowners age in place. Watch our video podcast here!

[Housing Wire] This housing inventory map may surprise you. [NRMLA] NRMLA requests changes to New Jersey HECM counseling bill. [Yahoo] Occupancy certifications aren't only for HECM loans. They're being required for some traditional mortgage holders.   Watch our video podcast here!

[Housing Wire] NRMLA responds to the CFPB's proposed changes to Reg B that would substantially impact the HECM program. [News Break] Here's when Dave Ramsey recommends taking Social Security benefits as early as possible. [JP Morgan Asset Management] JP Morgan's analysis reveals the true impacts credit card debt has on retirement savings and preparedness. Watch our video podcast here!

[The Cato Institute] Survey reveals most expect Social Security benefits will be cut in the future [Business Wire] A $2.5 billion capital commitment from Blue Owl to Finance of America sends an important signal about the future of reverse mortgage lending. [Reverse Market Insight] Reverse Market Insight's Market Minute with Jon McCue reviewing all the latest trends in HECM originations. Watch our video podcast here!

[Housing Wire] How 'shadow listings' reduce senior homeowners' final sales price. [Housing Wire] HUD extends the comment period in the Federal Register for proposed HECM reforms. [Housing Wire] Why credit report costs will skyrocket in 2026. Watch our video podcast here!

[The Mortgage Reports] The best way to structure a HECM? [Housing Wire] Stop marketing like it's 2008. [AOL] Two financial experts warn against postponing Social Security until age 70. Here's why. Watch our video podcast here!

[HECMWorld] Exclusive Interview: HighTech Lending's NEW Equity Select HELOC.  [FHFA] Here's the 2026 HECM limit! [Housing Wire] Here's how much Medicare Part B premiums and deductibles will increase in 2026. Watch our video podcast here!

[Housing Wire] High Tech Lending launches a new flexible senior HELOC. [RMI] All the latest HECM data in Revere Market Insight's Market Minute. [Law Offices of Laurie E. Ohall] One law firm addresses the question of how heirs can settle an estate with a reverse mortgage. Watch our video podcast here!

[Yahoo Finance] A recent Ramsey Solutions show holds one lesson for reverse mortgage pros. [Atlas VMS] Atlas VMS and QuantumReverse announce a new technology partnership. [Chrisman Commentary] The Chrisman Commentary notes this particular reverse mortgage opportunity. [HECMWorld] A look back at HECM endorsement trends in fiscal year 2025. Watch our video podcast here!

[Housing Wire] How one company is helping prevent HECM foreclosures, saving time, money, and preserving the home's value. [Yahoo Finance] American Senior Lending launches a new first-position home equity loan. [Newsweek] Here are the markets where home values are falling. Watch our video podcast here!

With a reverse mortgage, can you retain title to your home? Are reverse mortgages insured or guaranteed? Do reverse mortgagaes have a maturity date? This week's guest on the Crushing Debt Podcast is Gary Guarino, Vice President with Senior Lending, focusing on the HECM (Home Equity Conversion Mortgage), better known as a reverse mortgage. Gary has been a VP of Senior Lending for the last 26 years and is a Home Equity Retirement Specialist.  He is regarded as a leading expert on every aspect of the FHA-Insured HECM Credit Line as well as the proprietary Jumbo Reverse Credit Line. You can reach Gary at GaryG@senior-lending.com, or visit his website at www.senior-lending.com.  Shawn, George & Gary talk about Myths (and facts) surrounding reverse mortgages Title theory v. lien theory FHA Insured products Recourse v. Non-Recourse loans What is required to borrow under a reverse mortgage And other questions regarding HECM loans. Let us know if you enjoy this episode and, if so, please share it with your friends! Or, you can support the show by visiting our Patreon page: https://www.patreon.com/crushingDebt   To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com or follow his Tiktok channel - https://www.tiktok.com/@curbelofinancialcoach   To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com or visit www.YesnerLaw.com.  

[Realtor.com] Here's where an unpaid utility bill can lead to foreclosure. [Reverse Market Insight] RMI's Market Minute with all the latest trends in HECM loan activity. [Housing Wire] Older American homeowners support housing reforms and affordable housing. Watch our video podcast here!

[HECMWorld Exclusive] One HECM pro's experience with deceptive ads [Housing Wire] Several states' insurance of last resort plans are facing collapse. [LinkedIn] Olson vs. Unison: When no-debt isn't what it seems. Watch our video podcast here!

Many seniors today face significant financial strain—some even resort to borrowing to cover their basic living expenses.For retirees on a fixed income, a reverse mortgage can be a practical solution to access the equity in their home and bring much-needed stability. Harlan Accola joins us today with a message of hope for those looking for margin in their retirement years.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith and Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement.The Real Issue: Seniors Struggling with Credit Card DebtNearly 70% of seniors that Movement speaks with are carrying credit card debt. These aren't impulsive spenders buying luxury items. They're retired, living on fixed incomes, and they're relying on credit just to pay for basics like groceries and prescriptions. They're often asset-rich but cash-poor—sitting on significant home equity but drowning in interest rates of 25% to 35%.Many people suffer silently, too embarrassed to discuss their financial challenges. They don't realize that the equity in their home could be used to ease their burden without losing the home they love.One of the biggest hurdles is the spread of misinformation. People believe they'll lose their house, or that a reverse mortgage is inherently bad.In truth, the Home Equity Conversion Mortgage (HECM)—the most common form of reverse mortgage—is federally insured and designed to protect both the homeowner and their heirs. Properly structured, it can be a safe and responsible tool.Who Should Consider a Reverse Mortgage?Anyone over 62 with at least 50–60% equity in their home should take a closer look. A typical scenario might be someone still making monthly mortgage payments, even with a small remaining balance. Those payments—$800, $1,500 or more—can strain fixed retirement budgets.One common misconception is that you lose control of your home. In fact, you and your spouse can stay in your home for life, even if one of you passes away. You can choose how to receive the funds—from monthly income to a lump sum to the most popular option: a line of credit.Whether it's a car repair or a medical bill, reverse mortgage lines of credit provide flexibility. And it's all about wise stewardship.At the heart of this decision is a stewardship principle. As Proverbs 24:3 reminds us, “By wisdom a house is built, and through understanding it is established.” It doesn't make sense to live in a paid-off home but struggle to pay for groceries while racking up 30% interest on credit cards. That's not good stewardship.Reverse mortgages aren't for everyone—but many avoid them simply due to fear or misunderstanding. For some, it could be a life-giving solution.If you're entering—or well into—retirement and want to explore whether a reverse mortgage might be a fit for your situation, visit Movement.com/Faith. On Today's Program, Rob Answers Listener Questions:I'm 71 and still working, but I'm not sure how much longer I'll be able to keep it up. Would a reverse mortgage help me eliminate my monthly mortgage payment, allowing me to manage better if I need to stop working?I have recently retired and hold a 401(k) account with Fidelity. Someone mentioned a company called Big Money Retirement Solution, which offers a 9% annual return on an annuity. Should I consider moving half of my portfolio there?I heard there's a way to get a free credit report that the government requires. How do I access that?Resources Mentioned:Faithful Steward: FaithFi's New Quarterly Magazine (Become a FaithFi Partner)Movement MortgageAnnualCreditReport.comWisdom Over Wealth: 12 Lessons from Ecclesiastes on MoneyLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

[Detroit Free Press] Reverse mortgage borrower accused of torching his home. [Soc Sec/NPR] Despite the Big Beautiful Bill, Social Security benefits continue to be taxed. [News Week] Home sales are frozen in the HECM's largest market. Watch our video podcast here!

[MarketWatch] A 75-year-old asks if she should pay off her HECM loan. [World Financial Society] Here are the retirement trends reverse mortgage professionals should know. [The National Association of Home Builders] Over 70% of homebuilders report a surge in demand for aging-in-place features. Watch our video podcast here!

[The Globe & Mail] The Poor ‘Millionaire' Homeowners Club. [Realtor.com] What Realtor.com's latest housing market trends report means for HECM professionals.  [RMI] Reverse Market Insight's Market Minute. Watch our video podcast here!

[National Association of Realtors] Surprise! Here's what generation is buying the most homes. [News Week] The Texas housing market could be poised for a BIG housing price correction. Here's why… [Reverse Market Insight] RMI's Market Minute with Jon McCue: The latest HECM trends and data. Watch our video podcast here!

Did you know there's a way to tap into your home's equity for tax-free cash—without having to make monthly payments? It's true.It's called a Home Equity Conversion Mortgage, or HECM—what many of you know as a reverse mortgage. But today's reverse mortgage isn't what it used to be. Harlan Accola is here to help us unpack how they work and whether one might be right for you.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith and Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement. What's Changed? A Safer, Regulated OptionWhen you hear the phrase reverse mortgage, you might think of outdated financial tools with a bad reputation. However, home equity conversion mortgages (HECMs) significantly differ from those in the past.Reverse mortgages today are not the “Wild West” products of decades past. Since major reforms were enacted during President Reagan's term in 1988, HECMs are now heavily regulated under the Federal Housing Administration (FHA).No one can lose their house or have it taken away, provided they're working with a reputable lender and stay in the home while meeting basic obligations. Ownership doesn't change, and homeowners are protected.These changes addressed the risks that once made reverse mortgages controversial. Now, with strict oversight, they provide a reliable option for seniors wanting to tap into their home equity without selling.Are Reverse Mortgage Interest Rates Too High?It's a common misconception that reverse mortgage interest rates are significantly higher than traditional mortgages. But that comparison isn't apples to apples. Interest rates on HECMs are actually tied to the 10-year Treasury rate and are heavily regulated.Right now, interest rates for reverse mortgages are about the same as traditional mortgages—around 6.5%. This means homeowners aren't sacrificing much, if anything, in interest when compared to forward mortgages.What About Costs and Obligations?The closing costs for reverse mortgages are nearly identical to traditional mortgages, with one key difference: the addition of FHA mortgage insurance.This insurance offers three essential guarantees:You can remain in your home as long as you want (up to age 150!).Thanks to non-recourse debt protections, you will never owe more than the home's value.Your heirs won't be left with a bill.Yes, this insurance adds about 2% of the home's value to the upfront costs, but it's well worth it—just like homeowner's insurance is worth it if your house burns down.What Happens When the Borrower Passes Away?A major concern many have is what happens to the home after the homeowner dies or permanently moves out.The key is proper planning. Without a will or trust in place, any mortgage—reverse or traditional—can create problems for heirs. In most cases, the home is simply sold, and any remaining equity belongs to the heirs. For instance, if the reverse mortgage balance were $100,000 on a $400,000 home, the heirs would receive the remaining $300,000.Sometimes, grandchildren may want to keep the home, in which case they can buy out other heirs. Either way, the process can be managed with clear planning.Flexible Payout OptionsOne of the most attractive features of a HECM is its flexibility. Homeowners can choose to receive their funds in a variety of ways:A lump sumA line of creditMonthly income paymentsOr even a combination of these optionsThe big idea? Your home is not just a place to live—it's also a financial asset that can be used strategically, especially in retirement.Every financial situation is different. However, a reverse mortgage could be a wise part of a broader financial plan for older homeowners. When used correctly, it offers flexibility, security, and peace of mind without jeopardizing their home.Visit Movement.com/Faith to learn more about reverse mortgages or speak directly with Harlan Accola at Movement Mortgage.On Today's Program, Rob Answers Listener Questions:My husband has taken a new job, and we have been contributing to an HSA. He wants to contribute $1,000 a month to the HSA. We still own a home and are nearing retirement age. Should we work on paying off the home or continue to put dollars into the HSA?A week or two ago, I caught part of your program about freezing credit scores. I didn't catch the whole explanation. We've never really taken out loans except for our first house 45 years ago. Is there any downside to freezing my credit?I recently received a large amount of money from a dear loved one who passed away in January. I know I'm going to tithe and pay taxes on the amount. I have an appointment with my bank to set up a CD account, but I want to know what other types of investments I can make with the money. I just want to make sure I'm doing the right thing.Resources Mentioned:Faithful Steward: FaithFi's New Quarterly MagazineMovement MortgageBankrate.comChristian Community Credit Union (CCCU)Wisdom Over Wealth: 12 Lessons from Ecclesiastes on Money (Pre-Order)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

[Housing Wire / HUD] HUD OIG report found HECM residency fraud and few controls.  [Housing Wire] Have advisors lost interest in the HECM? [Wall Street Journal] Why retirees who relocate to states with no income tax don't always save money. Watch our video podcast here!

There's a saying, “The best time to plant a tree is right now.” Does that logic apply to inheritances?Well, it might in some cases. In other words, is there a benefit to giving your kids an early inheritance? And how exactly would you do that? Harlan Accola joins us today to talk about how a reverse mortgage can accomplish that.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith and Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement. Understanding a Home Equity Conversion Mortgage (HECM)Reverse mortgages have evolved significantly over the years, offering new opportunities for financial planning in retirement. A Home Equity Conversion Mortgage (HECM), often referred to simply as a reverse mortgage, is an FHA-insured loan that allows homeowners to convert part of their home equity into cash while still maintaining ownership.Unlike some traditional reverse mortgages of the past, a HECM is non-recourse, meaning borrowers will never owe more than the home's value, and the loan cannot be called due as long as they continue to pay property taxes and insurance and live in the home. The equity remains with the homeowner and their heirs, with the only change being the portion that is used. Another advantage? The proceeds are tax-free, making it a useful tool for financial planning.The Role of Reverse Mortgages in Retirement PlanningWhile many people focus on eliminating debt entirely in retirement, a reverse mortgage can serve as a strategic financial asset rather than simply a last resort. Many retirees overlook the potential of their home equity as part of their financial portfolio. Instead of just passing a home down to heirs, a reverse mortgage allows parents to leverage their equity while living, providing financial assistance to their children and grandchildren when they need it most.Giving an Early Inheritance: Why It Makes SenseOne of the most meaningful ways to use a reverse mortgage is to give an early inheritance—sharing wealth with children or grandchildren while still being alive to witness its impact. As Ron Blue famously said, “Do your giving while you're living so you're knowing where it's going.”Biblical wisdom teaches that wealth should be passed along with wisdom, guiding the next generation not only in how to manage money but also in understanding generosity and stewardship. Many parents already do this when their children are young—teaching them to give, save, and spend wisely. But what about when they are adults? A reverse mortgage provides an opportunity to continue that guidance by offering financial assistance at a time when it may be most needed.How an Early Inheritance Can HelpHere are some practical ways a reverse mortgage can be used to bless children and grandchildren:1. Helping with a Down Payment on a HomeWith rising housing prices and interest rates, many younger adults struggle to afford a home. Parents can use their home equity to provide a down payment for their children, reducing the amount they need to borrow and making homeownership more affordable.2. Funding Private Christian EducationMany families prioritize faith-based education, but tuition costs can be a burden. A reverse mortgage can help cover private school tuition for grandchildren, ensuring they receive a strong biblical foundation in their education.3. Supporting Family Mission Trips or VacationsShared experiences can create lasting memories and strengthen family bonds. Whether it's funding a mission trip or a multi-generational vacation, using home equity can allow families to invest in relationships and spiritual growth together.Are There Risks to Using a Reverse Mortgage for an Early Inheritance?Like any financial tool, a reverse mortgage should be part of a well-thought-out plan. Here are a few key considerations:Ensure Long-Term Financial Stability—Before giving away wealth, make sure your own financial needs are met, including healthcare and living expenses. Plan for Healthcare Costs—Unexpected medical expenses can arise, so long-term care planning is essential before using home equity for other purposes. Use Funds Wisely—An early inheritance should be given with intentionality, not just as a financial gift, but as an opportunity to teach stewardship and align with biblical principles.Making the Right DecisionIf you're considering a reverse mortgage as part of your financial plan, here are a few steps to ensure you're making a wise choice:Work with a Trusted Christian Advisor—Seek guidance from a financial professional who understands both biblical principles and financial wisdom. That's why we recommend working with a Certified Kingdom Advisor (CKA), which you can find at FaithFi.com. Just click "Find a Professional." Pray About It—Ask God for wisdom to determine how this decision fits into His plans for your life and your family's future. Evaluate Your Goals—Consider how a reverse mortgage aligns with your long-term financial and spiritual priorities.By planning wisely and giving generously, you can leave a legacy of faith and financial stewardship that impacts generations to come.For those interested in exploring whether a reverse mortgage is a good option for their retirement plan, the team at Movement Mortgage can provide guidance. Learn more at movement.com/faith.On Today's Program, Rob Answers Listener Questions:Is it ideal for a husband and wife to share the same checking account, and how do we manage such to avoid conflict?I have a debt of about $4,300. I've been considering if I should get a balance transfer on a new card or take out a loan from my 401(k).My sister is 76 with disabilities, and I have her power of attorney. Medical facilities have had data breaches, so I was trying to freeze her credit. She's never had credit - do I need to freeze it, or can I leave it?Resources Mentioned:Faithful Steward: FaithFi's New Quarterly MagazineMovement MortgageChristian Credit CounselorsMoney and Marriage God's Way by Howard DaytonAnnualCreditReport.comWisdom Over Wealth: 12 Lessons from Ecclesiastes on Money (Pre-Order)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

[HECMWorld Exclusive] How to supercharge the H4P. [Go Banking Rates] 4 reasons baby boomers are house-poor in retirement. [Oregon Live] Mom has a reverse mortgage but needs to move for long-term care.  Watch our video podcast here!

[Housing Wire] HECM National Servicing Center Faces DOGE Closure. [Bloomberg | Housing Wire] The CFPB Ain't Dead Yet. [HECMWorld Exclusive] How one HECM pro has leveraged the power of storytelling to reach older homeowners.  Watch our video podcast here!

[Housing Wire] A HECM for Purchase Success Story [NRMLA Online] Political change is coming but housing policy is bipartisan. [RMI] RMI's Market Minute with Jon McCue. Watch our video podcast here!

[FHA] The October Surprise. What FHA's latest HECM application data tell us. [Housing Wire] Gabe Bodner takes the reigns of One Trust Home Loan's 55+ Lending [24/7 WallSt] Ramsey Solutions is NOT spot-on about reverse mortgages. Here's why. Watch our video podcast here!

[Housing Wire] FHA announces 2025 HECM Limit [Investopedia] Are falling Treasury yields a sign of the Trump effect? [Housing Wire] Industry veteran Jesse Allen moves to Rate with an eye on growth. Watch our video podcast here!

[GoBankingRates / Yahoo Finance]'Expert' advice about reverse mortgages? Not so much. [Housing Wire] Back in Black. The HECM's Performance in the FHA Portfolio. [Newsweek / The Washington Post] How a Trump presidency may impact home values. Watch our video podcast here!

[HECMWorld] The HECM's 10-Year CMT Rate Climbs After Fed Funds Rate Cut. [Reverse Market Insight] RMI's Jon McCue returns for this month's installment of RMI's Market Minute. Watch our video podcast here!

Many rules come with exceptions. Perhaps that's nowhere more true than with financial decisions.In most situations, paying off the mortgage and becoming debt-free is the right decision, but it may not be possible for everyone. Harlan Accola joins us today to discuss “red doors” and exceptions to the rule.Harlan Accola is the National Reverse Mortgage Director at Movement Mortgage, an underwriter of Faith & Finance. He is also the author of Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement.The Meaning Behind Red DoorsRed doors have rich historical significance. In biblical times, red signified safety and protection, as seen with the Israelites marking their doors during the Passover. In Scottish tradition, a red door symbolized that a home was mortgage-free—a point of pride. Early Americans painted their doors red to signal a place of rest for weary travelers.While red doors symbolize safety and accomplishment, it's important to rethink what safety truly means. Is safety just about paying off your mortgage? Or could it also mean being able to stay in your home, meet your needs, and share your blessings with others as you age?Reverse Mortgages and Financial StewardshipFor many seniors, having a mortgage-free home is a milestone of God's provision. However, a reverse mortgage (HECM) can provide additional safety, especially for those struggling to make ends meet. It allows seniors to draw income from their home equity and stay in their homes while meeting their financial needs.Seniors over 62 have over $13 trillion in home equity—a massive untapped resource. For some, a reverse mortgage could be an answer to prayer, helping cover bills and providing peace of mind. Reverse mortgages offer a unique opportunity to be good stewards of the resources God has provided, ensuring we can enjoy our homes and meet our needs in retirement.To determine if a reverse mortgage is the right solution for your situation, visit Movement.com/Faith.On Today's Program, Rob Answers Listener Questions:I am 61 years old and want to file for Social Security at 62. However, I have so much credit card and loan debt that I'm considering filing for bankruptcy, and I would like to know your take. I looked up your credit counseling thing, but they can't service one of my loans, so I didn't go any further with them.We sold a property in owner finance the property. When do we report the taxes on it? And is it a long-term capital gain? I had it for 15 years and lived in it some, but it wasn't our primary residence.I wanted to know about I-Bonds and the interest rate they're paying currently. The last I heard, you can only buy them through a website. I'm 83 and don't know much about computers. Is there a number I can call?I'm struggling to tithe because my husband and I disagree with how the church spends the money. We feel like we're the only ones who disagree, and it's difficult writing out that tithe check when we don't agree with the financial decisions. We're wondering if we're wrong or if the church is wrong. We don't want to withhold our tithe but feel the money could be spent much better.Resources Mentioned:Movement MortgageTreasuryDirect.govChristian Credit CounselorsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

[Housing Wire] FHA Commissioner: The HECM a Critical Piece of the Retirement Puzzle. [Yahoo Finance] Survey Reveals Retirees are Happier Than Older Workers. [KJZZ Radio] Aging in Place Out of Reach for Most. Watch our video podcast here!

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2880: Steve Chen explores how reverse mortgages can serve as a financial "spare tire" for retirees facing unexpected challenges. By tapping into home equity, retirees can maintain their lifestyle during downturns or emergencies, though it's crucial to understand the complexities and potential risks before making this significant decision. Read along with the original article(s) here: https://www.newretirement.com/retirement/reverse-mortgage-as-back-up-plan/ Quotes to ponder: "A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into funds that they may use at their own discretion." "For many retirees, their home is a valuable source of net worth." "The HECM line of credit has a growth feature, which means that the unused loan balance grows over time." Episode references: National Reverse Mortgage Lenders Association: https://www.nrmlaonline.org/ The Reality of the Retirement Crisis: https://www.americanprogress.org/article/the-reality-of-the-retirement-crisis/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2880: Steve Chen explores how reverse mortgages can serve as a financial "spare tire" for retirees facing unexpected challenges. By tapping into home equity, retirees can maintain their lifestyle during downturns or emergencies, though it's crucial to understand the complexities and potential risks before making this significant decision. Read along with the original article(s) here: https://www.newretirement.com/retirement/reverse-mortgage-as-back-up-plan/ Quotes to ponder: "A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into funds that they may use at their own discretion." "For many retirees, their home is a valuable source of net worth." "The HECM line of credit has a growth feature, which means that the unused loan balance grows over time." Episode references: National Reverse Mortgage Lenders Association: https://www.nrmlaonline.org/ The Reality of the Retirement Crisis: https://www.americanprogress.org/article/the-reality-of-the-retirement-crisis/ Learn more about your ad choices. Visit megaphone.fm/adchoices

[CNBC] Here's where home values are rising and falling nationwide. [CNBC] The Federal Reserve slashed the Fed Funds Rate by 50 basis points. How will this impact the HECM's 10-Year CMT index?  [Reverse Market Insight] Our monthly installment of RMI's Market Minute with Jon McCue for all the latest HECM origination and endorsement trends. Watch our video podcast here!

[Housing Wire / RMD] How would an interest rate cut impact HECM lending? [Kiplinger's] How one divorce specialist turned to reverse mortgages as a potential gray divorce solution. [HECMWorld] Where have all the HELOCs gone?! Watch our video podcast here!

On today's episode, Editor in Chief Sarah Wheeler talks with Editor Chris Clow about the CFPB's focus on the reverse space, including their recent action against a reverse servicer. Related to this episode: Reverse mortgage consumer complaints decline on a yearly basis: CFPB | HousingWire CFPB takes enforcement action against former HECM servicing contractor | HousingWire HousingWire | YouTube Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's episode, Editor in Chief Sarah Wheeler talks with Editor Chris Clow about the FHA's new cybersecurity reporting requirements and trends in reverse mortgages. Related to this episode: HECM study examines borrower trends over two decades Chris Clow | LinkedIn Sarah Wheeler | LinkedIn HousingWire | YouTube Enjoy the episode! The HousingWire Daily podcast examines the most compelling articles reported across HW Media. Each morning, we provide our listeners with a deeper look into the stories coming across our newsrooms that are helping Move Markets Forward. Hosted and produced by the HW Media team. Learn more about your ad choices. Visit megaphone.fm/adchoices

What is private credit and where does it fit in your investment portfolio? At age 60, Hope is tired of working and she's hoping to retire in 2-3 years. Should she factor home equity into her retirement spending plan with a reverse mortgage? Which mortgage option for a Houston dream home is best for Nisa in San Jose's early retirement goals? That's today on Your Money, Your Wealth® podcast number 476 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, Wayne in Phoenix needs to know how the section 121 tax exclusion works on a vacation home, and Jack and Jill in the UAE have questions about tax gain harvesting and the foreign earned income exclusion. Finally, are Joe and Big Al off their strategy game? A Spotify listener takes the fellas to task about the Affordable Care Act subsidy discussed in episode 472, and challenges their spitball for Duke and Daisy's retirement spending plan in episode 475. Access this week's free financial resources and the episode transcript in the podcast show notes, and Ask Joe & Big Al On Air for your Retirement Spitball Analysis, at https://bit.ly/ymyw-476 Timestamps:     •    00:00 - Intro     •    01:03 - What Is Private Credit? (Janine, La Jolla, CA)     •    08:07 - Is a Reverse Mortgage Right for Me? (Hope)     •    14:21 - Using Reverse Mortgages To Secure Retirement with Dr. Wade Pfau - YMYW Podcast 117     •    How Your Home Can Create Retirement Income - YMYW TV     •    14:59 - Which Mortgage Option is Best for Me in Early Retirement? (Nisa, San Jose, CA)     •    24:04 - Section 121 Tax Exclusion on a Vacation Home? (Wayne, Phoenix, AZ)     •    26:48 - What You Need to Know Before Filing Your Taxes in 2024 webinar     •    2024 Tax Planning Guide     •    27:39 - Foreign Earned Income Exclusion: Can I Harvest Long-Term Capital Gains? (Jack & Jill, UAE)     •    37:06 - ACA Subsidy & Retirement Spitball: Are Joe and Big Al Off Their Strategy Game? (Spotify commenter)     •    45:02 - The Derails

Follow along and subscribe/rate/review at https://www.briancovey.com/podcast/Don't listen to the negative stigma that you've been hearing about the housing market and the mortgage industry in the media: IT'S JUST NOT TRUE! There are a lot of things that have changed over the last several years and a lot of rules that have changed in your favor.When it comes to HECM reverse mortgages, there are so many ways that it can benefit you! The biggest issue has been that most people don't have someone giving them the right information to make the best decisions for their futureOn the latest episode of Finding Your Competitive Edge, mortgage industry veterans Peter Morris and Nicole Webster discuss and share strategies to help you, your friends, and your family actually tap into equity in your home and use that to not only cover living expenses, but also invest in your future.

Follow along and subscribe/rate/review at https://www.briancovey.com/podcast/Do you know what a HECM reverse mortgage is, and do you know how it can benefit you?The reverse mortgage program really requires someone that understands it, can articulate it, and help their customers make wise decisions through that.On this episode of Finding Your Competitive Edge, mortgage industry veterans Peter Morris and Nicole Webster discuss and share strategies to help you, your friends, and your family actually tap into equity in your home and use that to not only cover living expenses, but also invest in your future.