Reverse Mortgage Information Blog
Computer Virus Phone Scam Targeting Canadian Seniors: RCMP
December 15, 2011
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
December 14, 2011
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
November 3, 2011
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
November 1, 2011
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
October 5, 2011
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
September 20, 2011
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
August 29, 2011
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 →
Canadian Seniors Plan to Stay in Home After Retirement
August 26, 2011
A recent Ipsos Reid survey reveals that an overwhelming majority of seniors want to stay in their current home after retiring. The figure was 78% among those who had already retired and 61% for those who were planning to retire. The survey got its results from over a thousand... Read More →
Get Involved With Your Government on Senior Issues
August 3, 2011
In Canada, we’re pretty lucky. We’ve been largely insulated from the global economic crisis due to stalwart measures on the part of our financial system, and we have great programs for seniors. Add to that the fact that both Old Age Security and the Guaranteed... Read More →
Five Money-saving Tips for Retirement Living
July 27, 2011
While it may seem like a lot when you look at the dollar amount in the bank, the money that you have saved for retirement isn’t endless. You’re probably living off of a fixed amount of income that you take out monthly from a RRIF, or receive a pension cheque. The... Read More →
