Blog Post

Have You Heard About the Reverse Mortgage?

Rita Cousins Senior Mortgage Advisor • Sep 23, 2022

For Canadians who are looking to retire but currently facing high debt load and ongoing expenses, as well
as reduced income, it can be a challenge. This is where the reverse mortgage can help!

The goal of the reverse mortgage is to allow Canadians over 55 years to tap into the equity of their home, which assists in comfortable financial living. With a reverse mortgage, however, borrowers are not required to make regular payments. This allows them a considerable inflow of cash, without having to pay off what they owe! The only time payment will be required is when you sell or move out of your home.


This product is also a great option for anyone wanting to assist their elderly parents. Instead of selling the home and moving them to a care home or assisted living, a reverse mortgage is a terrific way to access the equity in the home, month by month, to pay for in-home and ongoing care costs.


Reverse mortgages are designed to allow you to access up to 55% of your home’s equity, thereby allowing you to convert your home equity into cash. This can be done as either a one-time lump sum payment, or you can choose to structure it to receive monthly payouts.


If you are struggling financially, or want to have a little extra equity on hand to pay off existing debts, gift money to family, expand your quality of life or simply increase your investment portfolio, contact me today! I would be happy to discuss the possibility of a reverse mortgage in further detail with you and ensure it is the best product to suit your needs.

Beyond being able to cash in on your home’s equity,
a reverse mortgage has additional benefits including:

• No monthly mortgage payments
• No income or credit qualifications
• Very low/little paperwork required
• Title and ownership of property remain in homeowner’s name
• Flexible options to break term early if needed
• Penalty waived in the event of death or care home placement to preserve the estate

WANT TO KNOW MORE? CALL ME TODAY!

🏑 Discover Fort Langley with Andy Schildhorn! 🌟

By Andy Schildhorn • 17 May, 2024
🌟 Hi there, it's Andy Schildhorn from Macdonald Realty! For over 30 years, I've proudly called Fort Langley my home—where history and vibrant culture blend seamlessly. πŸ›οΈ Explore iconic landmarks like the Community Hall, CN Rail Station, and the Old Fort. 🍽️ Don't miss a visit to Ancestor Café, showcasing indigenous foods. 🎷🎨 Our village buzzes with festivals year-round, including the Jazz and Arts Festival. Enjoy outdoor activities along the Fraser River, scenic trails, and top-notch cycling routes. 🚴‍β™€οΈπŸŒ³ 🍰🍝 Stroll down Glover Road, our charming main street, with its friendly shop owners and delightful spots like Wendels' Cafe and Giulia's Mangia e Scappa. 🏑🌲 Discover diverse real estate options, from quaint backyards to riverside condos and expansive acreages. πŸ“… Join our thriving community—click the link below to schedule a chat. πŸ‘πŸ”” Thanks for watching! Don’t forget to subscribe, and I look forward to hearing from you soon. πŸ“ž 778.835.8957 - https://calendly.com/andyschildhorn 🌐 www.AndytheRealtor.com Your Langley and Fraser Valley Realtor.

🌾🍎 Celebrate 102 years of May Day in the Village πŸ“πŸŒ»

By Andy Schildhorn • 15 May, 2024
The body content of your post goes here. To edit this text, click on it and delete this default text and start typing your own or paste your own from a different source.

πŸ€— Sometimes we need to smile.

By Andy Schildhorn • 14 May, 2024
πŸ“£ "Success is not the key to happiness. Happiness is the key to success. If you love what you are doing, you will be successful." - Albert Schweitzer
More Posts
Share by: