Found 1 blog entry tagged as reverse mortgage in Canada.

Reverse mortgages have become increasingly popular in recent years, with a reported 30% surge in demand in 2022. Originations exceeded $1 billion for the second consecutive year, contributing to a nationwide outstanding reverse mortgage debt estimated at around $5 billion. In light of high inflation, interest rates, and insufficient Canada Pension Plan (CPP) payments, more Canadians are turning to reverse mortgages as a potential solution to supplement their retirement income. By viewing their homes as a reliable source of funding, they can avoid the need to sell their property.

What Is a Reverse Mortgage?

A reverse mortgage is a type of loan that enables homeowners to access funds from their home equity without the need to sell their property.…

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