You won’t find a more comprehensive guide to Toronto reverse mortgages. Here’s just some of what’s inside:
1. The context and history of Toronto reverse mortgages
Find out what this process is and how it works, including the advantages and disadvantages of a reverse mortgage .
2. The top misconceptions about Toronto reverse mortgages
An excellent example of this is that many people are wrongly believe that they could lose their home with reverse mortgages. This is simply not true.
Learn the real benefits – in addition to the negatives – of the solution.
3. There are other choices out there – how do the options compare?
You want to be sure you’re making the best choice for you and your family and we want to help. That’s why we’ll reveal to you how a CHIP reverse mortgage compares with the other choices readily available, like a Home Equity Line of Credit (HELOC).
Our help is 100% free of charge. We bring you all the objective advice you need for your Toronto reverse mortgage decision
Your time is valuable. Don’t spend it going from bank to bank and lender to loan provider. Let us do the hard work for you.
We have dealt with hundreds of customers seeking mortgage loan services as part of Dominion Lending Centres Edge Financial, a top rated and award-winning mortgage brokerage. This free guide was written by an expert Toronto mortgage broker.
Let an expert help you with this otherwise stressful decision
With our totally free professional guidance, we’ll make certain that the choice you make is the right one. Learn all the about reverse mortgages canada before acting.
Don’t try to go it alone. Our help is invaluable.
You’ve worked hard your entire life. Now it’s time to sit back and relax. We can take it from here.
So, what are you waiting for, Toronto?
Our Mortgage Background
Homeowners over 55 in Toronto are increasingly looking at mortgage loans as a viable option, especially those who have significant net worth tied up in their home.
But reverse mortgages can seem a little complex.
It doesn’t help that incorrect information is a dime a dozen. This only serves to further confuse and frustrate customers.
That’s why we produced this site: to help people like you in Toronto discover more about this financial solution and how it works from an objective source.
We don’t just help individuals in Toronto with their mortgage decision, either. We have hundreds of clients across Canada.
Why is there so much confusion about Canadian and Toronto reverse mortgages?
It is almost guaranteed that during your research you will come across some claims that are completely incorrect.
The culprit for these false declarations is the U.S.A, where the process has a much worse reputation due to the often unethical practices of their lenders.
Canada, however, has a much safer and more conservative set of banks compared with the U.S.A.
This is why the Canadian product is nothing like the American product.
Top three differences between Canadian and American reverse mortgages
For starters, in Canada, you cannot lose your home under any circumstances.
Reverse mortgages are actually legally secured to stop this occurring. It is clearly stated in the documents you will sign.
The U.S.A. did not have the same protection.
The second difference is that the Canadian product has a ‘roof’, meaning that the balance owed can never be more than the value of your home.
Maintaining home equity is a primary concern for all Torontonians who are considering a mortgage loan that we speak to. We show you precise information and calculations in our totally free guide that explain how in nearly all cases, you will keep some home equity.
The last difference we wish to cover is that no monthly payments are needed – ever. You can decide to make voluntary payments if you want to.
So, in summary, you keep your house, you can keep your home equity, and you are not obligated to make any repayments. For more on this see: https://www.reversemortgagepros.ca/reverse-mortgage-canada/bad-reputation-reverse-mortgages/
Download our completely free informational guide for Toronto property owners
We understand that so far, it may seem like this is the perfect option.
But you shouldn’t move ahead without doing your own research. That’s why we created our eBook complete with the benefits and the drawbacks.
Our resource will provide you with all the information necessary to determine whether this mortgage solution is right for you.
Contained within is a contrast between reverse mortgages and a Home Equity Line of Credit (HELOC), as most Toronto residents we help are normally considering these two options.
We strongly recommend getting your copy of the guide. It’s 100% free, so what do you have to lose?
Avoid reading pages and pages of false information. Get only the facts in our guide.
How to make this decision
Rushing into things is never a good idea.
Our entire service is designed to make sure you have all the info you need, you are entirely happy with everything and you take your time with this crucial decision.
Do not rush and read our free guide from start to finish so that you have a solid understanding of your options.
We are here to assist you at each step. As independent mortgage professionals, not only are our suggestions totally free, but we do not work for the banks or mortgage providers. We won’t try to rope you into something that’s not right for you.
All of it starts with our totally free guide. Download it now and get a detailed explanation of things like 8 interesting ways to use a reverse mortgage.
Where to go from here
We would suggest you consider the following steps:
1. If you are fairly new to reverse mortgages, get our complimentary guide.
2. If you have concerns or issues relating to the product, you can begin a discussion with us by email for more details: email@example.com.
3. If you know that this solution is the right choice for you but would like to verify this with a professional, complete our complimentary assessment form – it just takes ninety seconds.
This evaluation involves an independent and objective mortgage professional looking at your information and financial overview to advise you whether or not this mortgage loan would be a good fit.
That’s it for now! We hope this information has been helpful and we’d love to help you further through our complimentary guide, financial evaluation, or over email. We wish you the best of luck with your mortgage decision.