A reverse mortgage in Canada is basically like any other mortgage except for three key points: It’s only available to seniors that are 55 years or older. You don’t have to make regular monthly …
The Benefits of Reverse Mortgaging Your Home
You benefit by:
- Never having to make any interest or principal repayments monthly, resulting in increased cash flow.
- Never having to repay the mortgage in full until your home is either sold or both you and your spouse have moved out and are in long term care.
- Never having to qualify on either your income and or credit but instead your equity.
- Never having to dream about all the things you would like to do if only you had the means to.
- Never having to be a burden on your family physically, emotionally and financially due to your health care needs.
Imagine finally being able to say “Yes” to life once again, instead of having to always say “No.” Now that’s what retirement should be all about!
Bob & Irene were 10 years into their retirement before they realized that there was nothing "golden" about their golden years. See how they turned it around and found financial freedom.