Reverse Mortgages – Fastest Growing Mortgage Product in Canada! - Why?
30% of the population is age 60+
Roughly 50% of those are finding the majority of their wealth tied up in their homes, yet they don’t want to sell, but would like access to some of that savings to fund their retirement
Are you, or maybe your parents or grandparents in a “house rich, cash poor” situation?
-A Reverse Mortgage is essentially like a secured credit line, where clients age 55+ can access up to 55% of the value of their home, in tax free cash, but with NO MONTHLY PAYMENTS REQUIRED.
Pay off mortgage or other debts that have accumulated for various reasons, eliminating those monthly payments
Pay for renovations or modifications to the home for aging in place, or for in home care as needs increase
Supplement pension income to enjoy life, travel, and live the retirement you dreamed of
Help family by way of early inheritance to assist with down payment of a home, education, etc. Enjoy some of the inheritance WITH your family, instead of just passing on money
Purchase a vacation or rental property, or use for other investment, etc…