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.

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 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 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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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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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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The 400 Year History Of Reverse Mortgages

Reverse mortgages have been around for over 400 years – with the CHIP reverse mortgage being the first introduced to Canada – yet they are still often misunderstood in Canada. In order to address the misconceptions, it is useful to examine the history of reverse mortgages and how they have evolved over time. 400 Years… Continue Reading The 400 Year History Of Reverse Mortgages

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Appraisals & Your Initial Home Valuation For Reverse Mortgages (And All Mortgages)

When getting a reverse mortgage – or any new mortgage on your home – establishing the home value is an important part of the process. It’s not like when you purchased the home – where the purchase price became the value of your home – you now need some other way of establishing a value.… Continue Reading Appraisals & Your Initial Home Valuation For Reverse Mortgages (And All Mortgages)

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Taxes, Government Benefits & Reverse Mortgages In Canada

Quite often I get asked what the implications are for taxes and Government benefits on taking out a reverse mortgage in Canada. The basic overview of this – and one of key advantages of reverse mortgages in Canada – is that the borrowed funds are not considered taxable income. Unlike other sources of income, such… Continue Reading Taxes, Government Benefits & Reverse Mortgages In Canada

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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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8 Short Reverse Mortgage Questions Answered (With Video)

In this article I’m going to answer 8 different common questions on reverse mortgages, each with a very short video explanation. Here are the questions in order: Is a reverse mortgage considered income and it is taxable? How is a reverse mortgage repaid? How do reverse mortgages really work in Canada? Can you use a… Continue Reading 8 Short Reverse Mortgage Questions Answered (With Video)

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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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What Happens When A Reverse Mortgage Ends?

A commonly asked question I get is ‘What happens at the end of a reverse mortgage?’ It makes sense – it can be worrying to not know what you’re leaving behind and how things will be handled. Another regular question is ‘how do lenders make money on a reverse mortgage if there are no payments?’… Continue Reading What Happens When A Reverse Mortgage Ends?

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Using A Reverse Mortgage To Buy A Home

It is possible to use a reverse mortgage to buy a home – but there are a few important elements to consider. Unfortunately, you cannot get a pre-approval and I’ll explain why in this article. I’ll also walk you through the process and how it would work in practice using a real life example to… Continue Reading Using A Reverse Mortgage To Buy A Home

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Are Reverse Mortgage Rates Really Too High?

One of the most common reactions I hear when talking about reverse mortgages is that the “rates are too high.” But are they really that high? And compared to what, exactly? How do reverse mortgage rates compare to other financial options available today? And how do they stack up historically over time? In this article,… Continue Reading Are Reverse Mortgage Rates Really Too High?

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