If you’ve ever had a conversation with your parents about money in retirement, you’ve probably heard some version of this: “We’re fine… but things are tighter than they used to be.” And for many homeowners in Canada, that’s the reality. They’re house rich, but cash flow tight. That’s where reverse mortgages come into the conversation. […]
Will a reverse mortgage affect my credit score? While a reverse mortgage doesn’t directly impact your credit score, using the funds to pay off existing debts could actually boost your credit profile and increase your score! It’s a win-win. Are reverse mortgage payments taxable? Nope! The money you receive from a reverse mortgage isn’t […]
As a mortgage broker, I often speak with clients aged 55+ who are looking for ways to supplement their retirement income or cover unexpected expenses. A reverse mortgage can be a great solution for many Canadians in this situation. Many Canadians are looking for ways to bolster their retirement income, handle unexpected expenses, or simply […]