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

Oct 15, 2025

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Could a reverse mortgage be a widow’s best friend?

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.

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 Longevity Challenge

Many people still carry outdated assumptions about reverse mortgages. Some believe they’re risky or predatory—especially for widows. However, over the years, these products have undergone significant evolution, incorporating new safeguards that make them a secure and compassionate option for many older adults, particularly surviving spouses.

Women tend to outlive their husbands, often by several years. That creates what financial professionals call longevity risk—the challenge of stretching resources over a longer life. Couples frequently plan their finances assuming they’ll live out retirement together, but the reality is that many widows face 2–10 years of life on their own, often with reduced income.

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

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

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

Dignity and Security for the Years Ahead

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

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

To learn more about whether a reverse mortgage could benefit your situation, visit Movement.com/Faith.

On Today’s Program, Rob Answers Listener Questions:

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Resources Mentioned:

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