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.
Is A Reverse Mortgage A Rip Off??
Some people believe that a reverse mortgage is nothing more than a “rip-off.” You might have heard this sentiment from someone you know – or seen it online. In this post, I’m going to take a closer look at that claim. We’ll go through the real numbers, break down all the costs, fees, and interest,… Continue Reading Is A Reverse Mortgage A Rip Off??
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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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Examining The Bad Reputation Of Reverse Mortgages
There are many people out there who do not believe in Reverse Mortgages in Canada. I used to be one of them. Then I learned more about the product and now I can see it can and has benefited many people. And yes, of course, there are people who a reverse mortgage is not right… Continue Reading Examining The Bad Reputation Of Reverse Mortgages
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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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Reverse Mortgage vs HELOC (Home Equity Line Of Credit)
Quite often the decision about whether or not to get a reverse mortgage involves choosing between this and a Home Equity Line Of Credit (often called a ‘HELOC’). In this article I’ll compare the 2 products, so you can decide for yourself – as well as suggest a strategy that I think may be the… Continue Reading Reverse Mortgage vs HELOC (Home Equity Line Of Credit)
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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 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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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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The Biggest Mistake You Can Make With A Reverse Mortgage
Lately, I’ve noticed that many people are making the same mistake when it comes to their reverse mortgage decisions. This mistake is choosing a short reverse mortgage term of 6 months, 1 year, 2 years, or even 3 years. This can be a costly choice, and in this blog post, I’ll explain why selecting a… Continue Reading The Biggest Mistake You Can Make With A Reverse Mortgage
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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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When Is A Reverse Mortgage Not Right For You?
A reverse mortgage in Canada isn’t always the right option depending on your situation. There are times when it may be better to take a look at some of the other financial options available to you before choosing to go with a reverse mortgage. It’s always a good idea to get independent advice about your… Continue Reading When Is A Reverse Mortgage Not Right For You?
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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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Qualifying For A Reverse Mortgage – How Much Can I Get?
If you’re like many homeowners I talk to, you might be a bit confused as to how you qualify for a reverse mortgage and what exactly impacts how much you can get. Reverse mortgages are advertised as ‘up to 55%’ but really this should be ‘10% to 55%’. While income and credit score are less… Continue Reading Qualifying For A Reverse Mortgage – How Much Can I Get?
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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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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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