When most of us dream of retirement, we imagine ourselves in our homes – sharing a meal with family or just relaxing in a comfortable spot.
But retirement can also bring financial strain. Seniors often face the challenge of managing with less cash flow than they anticipated or coping with unforeseen expenses.
For over 25 years, Reverse mortgages have helped thousands of older homeowners enjoy more financial flexibility without having to sell or move. It might be the solution for you too.
Income Today – Your Home for a Lifetime
If you’re like many Canadians, you’ve spent much of your life working hard and diligently making your mortgage payments. Yet now that you need income the most, there’s a good chance the bulk of your net worth is locked up as equity in your home. Fortunately there’s a solution. By choosing a Reverse Mortgage, you receive income in your lifetime while retaining full control of the place where you rest your head.
A secure Source of Income
Simply put, a Reverse Mortgage is a loan secured by your home with a big difference – you do not have to make any payments interest or principal for as long as you or your spouse live there. All you have to do is keep your property in good maintenance, pay your property taxes and property insurance.
Features of a Reverse Mortgage
- Homeowners age 55 and older
- No payments are ever required
- No Income qualifications
- No Credit requirements
- Qualify for up to 50% of the value of the home
- Money can be received as a lump sum, or over time or combination
- Owner maintains title
- They can sell or move at anytime
- Receive the money tax free
“If you sell your home you’re gonna be living off the proceeds and what you’re doing now is not selling your home and living off the proceeds.”
Contact me today to discuss a Reverse Mortgage solution and to learn more on how you can unlock the value in your home.