Many Canadian retirees homeowners are home equity-rich but investment-light.
Whether it’s to fund their 20 to 30 years retirement or simply to access money for a project without a monthly repayment obligation, a reverse mortgage can offer an opportunity to unlock that home equity and provide much-needed cash flow.
Today we’re joined by experienced independent mortgage broker Morgan Englebretsen to talk about the ins and outs of reverse mortgages and what Canadian homeowners need to know to make an informed decision.
In this episode, Morgan and Keith talk about the ideal candidates for a reverse mortgage, current reverse mortgage trends, which institutions issue reverse mortgages, the rules and costs around the reverse mortgages, how they are repaid, alternatives to reverse mortgages, and so much more!
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