Did you know?
Reverse mortgages are gaining popularity for Canadians over 55! Many Canadians are looking to retire but are faced with high debt loads and ongoing expenses and a reverse mortgage can help! This is also a great product for anyone wanting to help their elderly family members. Instead of selling their house and moving them to care or assisted living a reverse mortgage can help. its a great way to access the equity in their home and help pay for ongoing costs.

The goal of a reverse mortgage is to allow for Canadians over 55 to access the equity in their home and assist with comfortable financial living. With the reverse mortgage the borrowers are not required to make regular payments. It allows for a considerable inflow of cash without having to pay off what they owe. The only time a payments due is when you sell the home or move out of it. Reverse mortgages can be can be set up as a one time lump sum or a structured monthly payout.

Reverse mortgages also have additional benefits including:
* No monthly payments.
*No income qualifications.
*Title and ownership remain int he property owners name.
*Flexible option if you need to break the term early.
* Penalty waived in the event of death or care home placement.

Struggling financially later in life is can be avoided by a reverse mortgage. You can use the funds to pay off debt or gift money to family or even increase your investment portfolio If you need assistance in possibly acquiring a reverse mortgage please contact me today! I would be happy to discuss your options and find a product that best suits your needs! Access my website for all the information you need to know about mortgages. Fill out my online application or access my contact form!
Information provided by April newsletter by Dominion lending