Canadian 55+ Facing a Double Edged Sword Canadian 55+ have been hit with a double-edged sword – rising interest rates combined with soaring prices of groceries and energy, has eroded purchasing power as pensions grossly lag inflation. Stats Canada reported a slight drop on inflation in September to 6.9% from 7.0% in August, which has […]
Did you know that more and more Canadians are heading into retirement carrying debt? According to Statistics Canada, 42% of households headed by someone 65+ are in this position, with 13.9% paying off a mortgage and 37.4% carrying consumer debt. This can put retired Canadians in a particularly difficult situation. According to the 2017 Canadian […]
How a Reverse Mortgage Can Help Canadians with Aging at Home As we age most of us hope to move through the winter of our lives with grace, integrity and on our own terms. We want retirement to be our way! Reverse mortgages can help make this happen. A reverse mortgage allows you to stay […]
Should You Renovate and Create a Revenue Rental Suite? Home prices and rentals in Canada are increasing at insane rates. Revenue-producing suites are fast becoming a major asset for retiring or retired homeowners for additional revenue streams. Imagine Being a Renter in Today’s Markets? We cannot help but feel empathy for those that are renting […]
Reverse Mortgages in Canada are on the rise as aging baby boomers start to retire. Covid-19 helped accelerate some seniors to get reverse mortgages sooner, however, this trend has been growing for years. Going forward the next ten years will bring substantial growth as it increases in popularity. Not sure what a Reverse Mortgage is? […]
Pros and Cons of a Reverse Mortgage Many homeowners are unaware of what a reverse mortgage is and often assume it may be detrimental to its real purpose, helping seniors enjoy their retirement! This false sense of negativity is often based on how reverse mortgage loans differ in Canada versus the United States from decades […]
It’s no secret that interest rates on reverse mortgages are higher than what you can expect to pay on conventional mortgages – and there’s valid reasoning behind this reality. The most significant cause for higher interest rates is that the loan requires no monthly mortgage payments, not even interest payments. This can definitely be a […]
Reverse mortgages continue to grow in popularity each year because of the unique solution they provide to homeowners 55+ who wish to stay in their homes and access some of their home equity to improve their quality of life. After all, Canadians are living longer than ever before, so they require more money to support […]