Are Reverse Mortgages for Seniors in Ottawa a Good Option?
When many people think of mortgages for seniors, the one that first enters their mind are reverse mortgages. Reverse mortgages can either be a godsend or a disaster waiting to happen, depending on who you speak to. So what are these mortgages? And are they really a good borrowing technique? Like all mortgage products, it…
Read moreWhere Can You go for a Reverse Mortgage?
Reverse mortgages have been around in Canada since 1986, and they’re a type of home loan that’s becoming very popular. These mortgages are secured by your home equity but unlike other types of mortgages, there are no principal or interest payments for as long as the homeowner lives in the home. But while these loans…
Read moreWhat’s the Better Choice for Retirees – HELOCs or Reverse Mortgages?
“With the millions of baby boomers already retiring, and the millions more that are set to in the coming years, many of those boomers are starting to think seriously about what they’ll do for income in their golden years; and they’re continually trying to find ways to make a few more dollars available. Of the…
Read moreThe Benefits of a Reverse Mortgage in Canada
As reverse mortgages become more and more popular in Canada, many are wondering what they are exactly, and if they’re a safe way to borrow. Many people also confuse these with home equity loans or second mortgages, but they work vastly different from each of these types of loans. So just what is a reverse mortgage, who’s eligible for one, and what are the benefits?
Read moreHome Equity Loan or Reverse Mortgage???
For house-rich but cash-poor seniors, or for homeowners who want to tap into their home equity for investment purposes, whether to take out a home equity loan, a secured home equity line of credit, or reverse mortgage are all viable options.
Read moreUsing a Reverse Mortgage to Reach Retirement Goals
With diminished confidence in traditional retirement investments, a reverse mortgage may help retired or soon-to-be retired homeowners reach their retirement goals.
Read moreA Reverse Mortgage and Retirement Planning
Statistics show that seniors are staying in their homes later into retirement. Homeownership does not decline significantly between ages 65 and 74. A reverse mortgage is an ideal way to both enjoy continued homeownership and tap into the retirement nest egg one’s house represents.
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