Have you heard of the HomeEquity Bank reverse mortgage yet? If you are a Canadian homeowner aged 55 or older, a reverse mortgage product may just be right for you. A reverse mortgage allows you to unlock some of the equity in your home in the form of cold hard cash, all without credit checks or monthly payments.

If you aren’t sure if a reverse mortgage may be right for you, there are a few things that can help you find out. Below are a few things that older Canadians want from their retirement – if any of them sound like you, you could benefit from a reverse mortgage:

• 93% of Canadians over 65 want to stay in their current home throughout retirement
• Nearly 70% want to stay in their homes to help maintain independence
• A large portion of retired Canadians have been approached about selling their home, but do not want to sell
• If money were no object, 33% of retirees would modernize their home, 40% would renovate their kitchen or bathroom, and 21% would add accessibility enhancements to their home
• With extra cash, many homeowners over 55 would pay of their mortgage or other existing loans, supplement their retirement income, or help to cover healthcare expenses for themselves or a loved one
• Many retired homeowners say it would be nice to be able to help their children or grandchildren with their education if they had the money

If any of these items sound similar to your retirement wants and needs, talk to us today about your own reverse mortgage. I am happy to answer any questions to help further determine if you would benefit from a reverse mortgage in Brampton and Toronto.