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.
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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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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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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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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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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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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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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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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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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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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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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Capital Gains Tax & Reverse Mortgages – What You Need To Know
Many folks have sent me messages worried about the new capital gains tax rules introduced in 2024 and any potential impacts on a reverse mortgage in Canada. So I thought I’d write a short article (and video) to explain these rules, how they impact your home and what they mean for reverse mortgages – so… Continue Reading Capital Gains Tax & Reverse Mortgages – What You Need To Know
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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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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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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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