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.
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’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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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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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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Top 8 Misconceptions About Reverse Mortgages In Canada
There is little doubt that reverse mortgages are one of the most misunderstood financial products in Canada. You might be wondering: where does this misunderstanding come from? Well we already know the answer, it is very simple. This misunderstanding comes from the U.S.A. We have talked about this many times before and the fact that… Continue Reading Top 8 Misconceptions About Reverse Mortgages In Canada
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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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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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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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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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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’). Well we believe we have come up with the perfect solution to this debate. You can watch the video version of this where I’ll walk you through… Continue Reading Reverse Mortgage vs HELOC (Home Equity Line Of Credit)
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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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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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Home Equity – What is It And Why Is It Important?
Home equity is the actual value you have in your home. It is the difference between the market value of your home, and any debt, such as a mortgage, that you owe on your home. For example, if your home is worth $500,000, and you have a mortgage of $100,000, your equity is $400,000. This… Continue Reading Home Equity – What is It And Why Is It Important?
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Why I Believe In Reverse Mortgages
There was a 62-year-old husband and his 61-year-old wife living in Kelowna, BC. One day the husband had a massive heart attack and died instantly. Insurance paid off all the debts. The husband had always looked after the financial affairs. The widow knew nothing about financial matters and couldn’t even balance a cheque book. The… Continue Reading Why I Believe In Reverse Mortgages
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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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