Advice And Articles

Discover everything you need to know about reverse mortgage - but before reading these articles, make sure and download my reverse mortgages guide to get the inside secrets on how a reverse mortgage works.

Otherwise the articles I've written below go into more detail - above and beyond what's contained in the free guide - to help you learn more about how reverse mortgages work, how they can help you, as well as provide alternatives and insights into other options so you can determine which option is the right one for you.

Reverse Mortgage Penalties Explained

Penalties – for paying back the reverse mortgage balance – are one aspect of a reverse mortgage that work very differently to a regular mortgage. Even if you don’t intend to pay it back (you plan on living in your home forever), you should review this information just for informational & educational purposes – just… Continue Reading Reverse Mortgage Penalties Explained

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Steps To Apply For & Receive A Reverse Mortgage

Deciding on a reverse mortgage is a significant step for many homeowners over the age of 55. The actual process of apply for a reverse mortgage be quite duanting. This article aims to demystify the process, ensuring you are fully informed every step of the way. From what paperwork is needed, to the time it… Continue Reading Steps To Apply For & Receive A Reverse Mortgage

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What’s Hidden In The Small Print With Reverse Mortgages?

There are several items in the ‘small print’ of reverse mortgages worth discussing – that I often get questions about. These include: maintaining your property, home insurance, paying property taxes and the usage of the home. I’m not going to look at things around penalties, fees, interest rates and so on – these are more… Continue Reading What’s Hidden In The Small Print With Reverse Mortgages?

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Reverse Mortgage Rates And Penalties

Reverse mortgage rates and ‘what are your rates’ are very common questions that we get. The problem is that rates are particular to an individual. This is actually also the case for a traditional mortgage – just that most people don’t know this and many sites play a ‘bait and switch’ type game by advertising… Continue Reading Reverse Mortgage Rates And Penalties

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8 Interesting Ways To Use Reverse Mortgages

A reverse mortgage can be a great way to replace income during retirement, or help pay bills when a pension or savings isn’t enough – the money from the reverse mortgage can be used for any purpose: to repair a home, to pay for in-home care, to deal with an emergency, or simply to cover… Continue Reading 8 Interesting Ways To Use Reverse Mortgages

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Frequently Asked Questions About Reverse Mortgages

Like many folks, there is no doubt that you probably have questions about reverse mortgages. They are a fairly complicated and difficult to understand mortgage product. In this article I’ll walk you through some of the most frequently asked questions that I get about reverse mortgages in Canada. I’ll go through the 5 most common… Continue Reading Frequently Asked Questions About Reverse Mortgages

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Reverse Mortgage Interest – Fixed vs Variable & 1 To 5 Year Terms Explained

If you’re confused about fixed vs variable reverse mortgage rates and how terms work (which are usually 1 year, 2 year, 3 year or 5 year), then this is the article for you. Whether you’re looking at a CHIP reverse mortgage or another reverse mortgage product – you’ll get the info you need in this… Continue Reading Reverse Mortgage Interest – Fixed vs Variable & 1 To 5 Year Terms Explained

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Alternatives To A Reverse Mortgage

Before I examine the alternatives to a reverse mortgage, I should reveal that I think is a fantastic product, especially in today’s age where many people find themselves to be ‘house rich’ but ‘cash poor’. But do I think it the best solution for absolutely everyone? Of course not. Are there alternatives out there? Yes. Are the… Continue Reading Alternatives To A Reverse Mortgage

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Capital Gains Tax & Reverse Mortgages – What You Need To Know

Many folks have sent me messages worried about the new capital gains tax rules introduced in 2024 and any potential impacts on a reverse mortgage in Canada. So I thought I’d write a short article (and video) to explain these rules, how they impact your home and what they mean for reverse mortgages – so… Continue Reading Capital Gains Tax & Reverse Mortgages – What You Need To Know

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What If There’s A Housing Market Crash?? House Prices & Their Impact On Reverse Mortgages

What If There’s A Housing Market Crash?? House Prices & Their Impact On Reverse Mortgages Continue Reading What If There’s A Housing Market Crash?? House Prices & Their Impact On Reverse Mortgages

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Reverse Mortgage Costs And Fees

Quite often we get asked the question about what hidden or buried costs there are in a reverse mortgage. This is largely because the whole product can come across of having a feeling of being too good to be true. Being skeptical like this is a good thing considering how many financial products out there bury… Continue Reading Reverse Mortgage Costs And Fees

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Reverse Mortgages In Canada – What’s The Catch??

Many people think a reverse mortgage sounds too good to be true and wonder, “What’s the catch?” Others mistakenly believe the lender will take their home or all of their equity. In this post, I’ll address these concerns, explain the real catch behind reverse mortgages, and reveal how lenders actually make money from them. As… Continue Reading Reverse Mortgages In Canada – What’s The Catch??

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Canada vs The U.S.A. – Reverse Mortgage Differences

Most of us watch a lot of American TV and hear American media and news which sometimes can make things confusing when it comes to understanding similar products, like a reverse mortgage. Have you read somewhere that the age to qualify for a reverse mortgage is over 62? Have you been reading about terms such… Continue Reading Canada vs The U.S.A. – Reverse Mortgage Differences

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Breaking A Reverse Mortgage – Switching Lender, Refinancing Or Paying It Off

For existing reverse mortgage holders – or anyone considering a reverse mortgage who wants to plan for future issues – the subject of breaking a reverse mortgage is an important one. By ‘breaking a reverse mortgage’ I mean switching it (to another lender), refinancing it (for example, increasing the amount being borrowed) or paying it… Continue Reading Breaking A Reverse Mortgage – Switching Lender, Refinancing Or Paying It Off

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Pros And Cons Of A Reverse Mortgage

In this article we thought we would outline the real pros and cons of a reverse mortgage – updated with the new reverse mortgage rules and lenders. Like any financial decision, there are both advantages and disadvantages that need to be considered. As the leading specialists in Canada, we believe in objectively showing you both… Continue Reading Pros And Cons Of A Reverse Mortgage

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