Moneywise On Oneplace.com

Homeowners now have an average of nearly $300,000 in home equity, and the nationwide total is staggering at $16 trillion. Home equity is undoubtedly one of our largest assets. So, how do the biblical principles of stewardship apply to it? Harlan Accola joins us today to discuss this.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 Reverse MortgagesToday’s reverse mortgages are not the same product that gave the name such a negative reputation in the past. Here are some of the facts that need to be known:Not Like Credit Card Debt: Unlike credit card debt or the subprime crash of 2008, reverse mortgages don't carry the same financial risks.Widow Protections: New laws ensure that widows can stay in their homes for as long as they wish, a significant improvement from the past.Retained Ownership: Modern reverse mortgages allow home