Why I probably shouldn’t consider a reverse mortgage?

Are you considering a reverse mortgage as a way to tap into your home's equity? Ralph Estep Jr. dives deep into the potential pitfalls of these loans, highlighting how they may not be the financial blessing they appear to be. Through a cautionary tale about a client named Patty, Ralph illustrates the importance of understanding the hidden costs and risks associated with reverse mortgages. He emphasizes the need for thorough evaluation and consultation with a financial advisor before making such a significant decision. With a blend of personal anecdotes, practical advice, and a faith-based perspective, Ralph encourages listeners to seek wisdom in their financial journeys, explore alternative options, and carefully consider a reverse mortgage only when it aligns with their long-term goals.https://www.askralphpodcast.com/consider-a-reverse-mortgage/Podcast Timestamps:00:00 Episode Overview01:01 Listener’s Question: Margaret’s Concerns About Reverse Mortgages02:34 Bible Verse: Hebrews 13:5 – Trust in God’s Provision03:04 Real-Life Story: Why Patty Reconsidered Her Reverse Mortgage Decision11:54 Call to Action14:52 Actionable Steps You Can Take16:40 ClosingTakeaways: Reverse mortgages may seem appealing, but they come with significant long-term financial risks. Consulting with a financial advisor can help you see beyond enticing celebrity endorsements. It's crucial to calculate all fees associated with a reverse mortgage before signing any agreements. Discussing your financial decisions with family can provide valuable insights and support. Exploring alternative options, such as a home equity line of credit, can be beneficial. Praying for wisdom and seeking godly counsel should be part of your financial decision-making process. Links referenced in this episode:Ask Ralph Insiders Community https://mailchi.mp/askralph.com/groupAsk Ralph Show Live https://askralphpodcast.com/liveWhat is your question that you would like to ask Ralph? Send Your Question here: https://justaskralph.com/ Join our email list and get a free copy of “Mastering Your Finances” at https://askralph.com/LISTEN NOWWATCH NOW ON YOUTUBE (OUR VIDEO VERSION)WATCH NOW ON RUMBLE (OUR VIDEO VERSION)SUPPORT THE SHOWPlease share our Podcast with all your friends and family!Submit your questions or ideas for future shows - email us at ralph@askralph.com or leave a voicemail message on our podcast page Leave A Voicemail MessageBuy Ralph's Book - Mastering Your Finances! Buy Ralph's Book -...

Om Podcasten

2025 Best Christian Finance Podcast in the U.S., awarded by Best of Best Review. Money isn’t just about numbers — it’s about confidence, stewardship, and faith. If you've ever felt stuck in the cycle of financial shame, you're not alone — and you don't have to stay there. Welcome to Financially Confident Christian, where we blend Biblical wisdom, practical financial strategies, and daily encouragement to help you break free, build lasting confidence, and honor God with your resources. Hosted by Ralph Estep Jr., a seasoned financial coach with a heart for ministry, each episode offers real-world steps you can take today — no complicated jargon, no judgment — just real hope and real help. Whether you're climbing out of debt, learning to budget with purpose, or dreaming of financial freedom, this is your place to start. One step. One decision. One prayer at a time. Your story isn’t defined by your past. It's shaped by your next faithful step. Let’s walk this journey together.