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 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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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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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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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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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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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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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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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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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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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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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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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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