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.
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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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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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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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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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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7 Common Questions About Reverse Mortgages
Reverse Mortgages have been around for quite some time in Canada – over 25 years now. But there are still a number of questions surrounding them that we see from people time and time again. I thought it would be a good idea to address some of these questions. 1. What Is A Reverse Mortgage… Continue Reading 7 Common Questions About Reverse Mortgages
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A Case Study
What is better for your retirement? Find out the difference here in our case study. The Background To The Decision HomEquity clients Bill and Heather faced this question recently. Bill is in his early 70s, and Heather is in her late 60s. Both are retired and continuing to live in their long-time home. Bill recently… Continue Reading A Case Study
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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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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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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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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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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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Turning A Reverse Mortgage Into A Line Of Credit
Many people find themselves in the situation where they are deciding between reverse mortgages and a Home Equity Line Of Credit (HELOC). So we thought we would take a look at the pros and cons of both and how you can combine both into a product that we call the ‘Reverse Mortgage Line Of Credit (RM-HELOC)‘.… Continue Reading Turning A Reverse Mortgage Into A Line Of Credit
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The Brexit Impact
I’m sure that your first thoughts upon reading this article title are “Wait! What has Brexit got to do with reverse mortgages in Canada!”. Well there is an impact and that’s what I would like to explain in today’s article. The Impact Of Brexit On The Pound The backstory to how Brexit has impacted the… Continue Reading The Brexit Impact
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Mortgage Options For Seniors
Introduction Home is where everyone feels comfortable and it is a vital part of everyone’s life. If you are in your 50’s or 60’s, you have lived many years in your house and have thousands of memories there. You have raised your children there and spend valuable time with your friends and family. But, the… Continue Reading Mortgage Options For Seniors
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