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How does Scripture point to Christ? Together, we are studying Old and New Testament passages over the course of the year, learning how all of Scripture speaks to Jesus. Join us as we dive deep into the Old and New Testament and marvel at the ways Jesus is on every page of the Bible.

Today, we are discussing week 17 day 3 of the CIAOS study.

You can follow along with us in Christ in All of Scripture| A 52-Week Journey of Discovering Jesus on Every Page of the Bible vol. 2

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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. 

When you hear the phrase reverse mortgage, you might think of outdated financial tools with a bad reputation.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.

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.

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:

1. You can remain in your home as long as you want (up to age 150!).
2. Thanks to non-recourse debt protections, you will never owe more than the home’s value.
3. 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.

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.

One 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 sum
• A line of credit
• Monthly income payments
• Or even a

What do you do when you apologize to your spouse but they don't seem able to forgive? More likely than not, it's because you haven't apologized in their language of apology. Find out what their language is by reading Dr. Gary Chapman's book, The Five Languages of Apology.

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Today, on Bold Steps with Pastor Mark Jobe, we’re learning three power habits that will change your life. We’re in a series about what it means to be Fully Devoted to God … which Jesus talks about in Mark chapter 6. There are many habits we already know of that promise positive results. Creating a habit of healthy eating, working out, and even just staying off our phones before we go to bed … we intuitively know that all of these guarantee good results.  But the “power” habits Mark will be talking about today are backed by more than just statistics … they actually come with promises from God.

Bold Steps Gift: THE SIX CONVERSATIONS: PATHWAYS TO CONNECTING IN AN AGE OF ISOLATION AND INCIVILITY

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Judge shopping is happening against President Trump’s executive actions. Constitutional expert, lawyer, author, pastor, and founder of Liberty Counsel Mat Staver discusses the important topics of the day with co-hosts and guests that impact life, liberty, and family. To stay informed and get involved, visit LC.org.