Cashing in equity without having to move out
With 93% of Canadians determined to retire at home, while dealing with rising debt and an increased cost of living, a reverse mortgage is one of the best ways to stay in the home you love. You get to boost your retirement income without having to downsize.
Just as you can extend your stay in that nice hotel, thanks to your credit card, your reverse mortgage allows you to stay in your home longer. As with a conventional mortgage, the bank doesn’t take over ownership. You stay on title and own your home until you decide to move out or sell.