Reverse Mortgage Information Blog

Huge Growth in Reverse Mortgages in Last Quarter of 2011

Reverse mortgages, which allow senior citizens aged 55 and over to borrow money against the equity in their home, are becoming increasingly popular in Canada. According to a study by HomEquity Bank the number of seniors applying for reverse mortgages grew by 42 percent... Read More →

Winter Activities for Canadian Seniors

Freezing temperatures and grey days can make it tempting to batten down the hatches and hibernate. But winter is an excellent time to enjoy the seasonal activities and events taking place across Canada. Skiing and Snowshoeing Cross-country skiing and snowshoeing offer great... Read More →

Debt Counseling for Canadian Seniors

If you are finding your credit or other debt hard to manage after the holidays, you’re not alone. Many Canadian grandparents are tempted to spend just a little extra on their grandchildren, and that little extra can add up when you start stacking on expenses like hosting... Read More →

Computer Virus Phone Scam Targeting Canadian Seniors: RCMP

In the past month thousands of seniors across Canada have been targeted with a phone scam in which the caller offers to fix their computer which the caller claims is riddled with viruses. The best thing to do to one of these callers is to hang up and not give them the time... Read More →

The Simple Facts About Reverse Mortgages

Reverse mortgages have never enjoyed high recommendation rates among financial planners. But this is because reverse mortgages are generally taken out by regular people like you who may have had some unforeseen hardship, or several, keep them from planning the retirement... Read More →

Putting Together a Plan for Your Retirement

As we all know as we get a little older, the more we plan, the better we do with our lives. There is a time and place for spontanaity, but your retirement plans need to be worked out as young as you can manage to do them. Most of us, however, leave retirement planning to... Read More →

Going Into Retirement Without a Mortgage

If you are concerned about taking out a mortgage during retirement, don’t worry. Only 65% of retirees go into retirement with a paid-off house.  While the dream is to pay off your house before you reach retirement age, with obligations such as kids, school, and moving... Read More →

Estate Planning With a CHIP Home Income Plan

Most clients want to know exactly what would happen in the event of their deaths, since estate planning weighs heavily on the minds of most retirees. Here is a no-holds-barred look at exactly what happens. A CHIP Home Income reverse mortgage is essentially a large loan that... Read More →

Finding a Lawyer to Handle Your Reverse Mortgage

Before you can get a reverse mortgage, you need to seek independent legal advice from a lawyer about all of your options and the reverse mortgage contract. While the CHIP Home Income Plan has a fair contract, this is a stipulation of the law that protects you from less scrupulous... Read More →

Reverse Mortgages Cost Less Than You Think

The biggest myth going about reverse mortgages is that the interest rates are too high. Nothing could be further from the truth. In fact, a reverse mortgage will probably cost you just as much or less than a standard car loan. The only additional cost to you apart from the... Read More →

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