We’re positive you won’t find a more detailed guide to BC reverse mortgages. Here’s a sneak peek at what’s inside:
1. The background and history the product
Learn all the you need to know regarding this important financial choice, including the pros and cons of reverse mortgages.
2. We put to rest common myths about this mortgage solution
There are a great deal of rumours and misunderstandings about reverse mortgages. For example, many individuals think that they could lose their home. Simply put, this is completely incorrect. For more information on this, see our article on pros and cons of a reverse mortgage.
That’s why we address these incorrect details and reveal to you the real facts about this particular solution.
3. See how this form of mortgage loan stacks up against the other options
You will wish to know how it compares to the alternatives. The most common option people consider besides our proposed solution is a home equity line of credit (HELOC). We’ll compare and contrast the two.
You have worked for many years. Now let a professional do the difficult work for you.
We aim to save you hours going from bank to bank and lender to loan provider. We the research for you – all as part of our free information pack.
We have dealt with hundreds of customers seeking the best mortgage choices available as part of Dominion Lending Centres Edge Financial, a highly rated and award winning mortgage brokerage.
Finding the best British Columbia reverse mortgage option for you doesn’t have to be demanding or difficult
Getting our totally free recommendations and aid will assuage any fears or stress you have and ensure that your financial concerns are taken care of.
Don’t stress. We’re here to help.
Your Top Resource For BC Reverse Mortgage Details
Our specialists are a part of Dominion Lending Centres Edge Financial – an acclaimed mortgage brokerage – so you can depend on us to bring you reliable recommendations to get the best information available, such as our article on the reverse mortgage costs. p>
Our Background: Why our experts do exactly what we do
Many individuals over 55 in BC have at some point considered this form of mortgage loan.
Nevertheless, we found that info on this option was lacking and individuals found them confusing.
What’s more, we found that people tended to avoid this product due to misinformation, like that they could lose their home.
This is the reason why we launched the Reverse Mortgage Pros website: to assist confused and worried Canadians with their financial decision.
And we don’t only work with BC homeowners. Our clients are property owners throughout Canada.
Why is there so much confusion regarding this solution in British Columbia and Canada?
It is almost guaranteed that during your research you are going to stumble upon some things that are completely incorrect surrounding reverse mortgages.
The majority of it originates from the U.S.A. where there were some questionable practices that caused this product to receive a bad reputation.
It’s similar to what occurred with normal home mortgages. The United States market was more aggressive – resulting in the global financial disaster of 2008 – while the Canadian economy did not suffer as much due to our safer practices.
Mortgage loans like this one are no different. The products in Canada and BC are distinct to U.S. mortgages.
Just like how Canadian lenders didn’t require a bailout, neither do Canadian holders who are better safeguarded in Canada than in the U.S.
The 3 biggest differences between Canadian and American reverse mortgages
Firstly, you cannot lose your home under any circumstances in Canada.
This is included in the legal contract for this product.
It was not necessarily always like this in the U.S.
Another significant protection that Canadian reverse mortgages have that the U.S. counterpart did not is that they have a ‘cap’. That is, the balance owed cannot exceed your home’s worth.
Almost daily we hear concerns like this from British Columbia home owners who question whether they will lose the equity in their home. The truth of the matter is that 99% of Canadian mortgage loan holders have retained equity in their home when the mortgage loan was released.
The third and greatest misconception we want to clear up is that no regular payments are needed – ever. You could decide to make voluntary payments but these are not mandatory.
In summary, you cannot lose your house (ever), you can keep your home equity under many circumstances – learn more about this in our eBook – and you never ever have to make any monthly payments.
That is why you should download your completely free guide for BC property owners over 55
Having read this, you might be thinking that the old cliché applies and it cannot be this easy.
We call our product the ‘Ultimate Reverse Mortgage eBook’ due to the fact that it contains all the info you require, including the drawbacks.
We also compare this mortgage solution to a home equity line of credit (HELOC).
Simply put, if you are considering taking out a mortgage loan for your BC home, you must read this prior to making your choice.
As part of our 100% free service, grab your eBook today and receive impartial guidance that will clear up your doubts.
Get all the facts and crucial details before making your decision – download your free eBook right now.
Actions to take when deciding on a mortgage solution
To start with, don’t rush.
This is a significant life choice, so don’t hurry it and take the time to research. However, beware of false or inaccurate information.
As there is no rush, take the time to read our complimentary eBook and learn whether or not a this form of loan is the ideal financial solution for you prior to going further.
We are here to help and guide you through this decision at each step and as objective mortgage experts, not only are our suggestions completely complimentary, but we do not work for the banks or mortgage lenders. We will not push you into something that isn’t best for you.
All of it starts with our totally free guide. Get it now to get the info you need concerning Canadian mortgage solutions
Some things to contemplate
What your options are with reverse mortgages depends on which phase you are at:
1. If you are relatively new to the idea, get our complimentary guide.
2. If you have questions or issues concerning the product, feel free to contact us by email for more information: firstname.lastname@example.org.
Finally, for those who already know about their and are ready to take the next step, you can go to our quick assessment form to determine your best path to success.
This is a free service we provide where a certified mortgage agent and chartered accountant will examine the information you supply and let you know if a our proposed solution is the ideal financial choice for you.
We hope this article has helped you get a clearer understanding of this service and we’d like to help you further, either through our free download or an assessment of your situation. Best of luck with everything!