Senior's Reverse Mortgages

Senior's Reverse Mortgages provide senior home owners money for any purpose they wish, such as:   paying for health care costs, paying off loans, paying property taxes, taking a trip or holiday, making home improvements, or day to day living to enable them to stay in their home.  (you must be 60 years old to qualify for a Senior's Reverse Mortgage)

If you are a senior home owner, you have worked hard to build the equity in your home over your lifetime.  A Senior's Reverse Mortgage allows you to enjoy life more, by using the equity in your home to provide you with either a monthly income, a lump sum of cash, or a combination of both.  You may qualify for a Senior's Reverse Mortgage if your home is paid off, or if you have a small mortgage on your home.

A Senior's Reverse Mortgage is very flexible to meet your personal needs, and provides you with the convenience of accessing the funds when you want or need them.  The Senior's Reverse Mortgage does not require any payments by you, and is paid back when your home is sold.  Unlike a secured line of credit offered by your bank or credit union, a Senior's Reverse Mortgage cannot be demanded back by your bank, and neither can the interest rate be increased as is the case with a secured line of credit.  Your Senior's Reverse Mortgage funds are yours until your property is sold!

Obtaining a Senior's Reverse Mortgage is a very simple and easy process:

1.)  you contact me via phone or email

2.)  I explain the Senior's Reverse Mortgage and determine if it is right for you. 

3.)  an apraisal is ordered to determine the value of your home

4.)  now that we know the current market value of your home, a meeting is scheduled so that you can decide if you would like to proceed with a Senior's Reverse Mortgage.  You receive an information package with all of the details in writing.  If you wish to proceed, your application is sent to Toronto for final aproval.

5.)  once your Senior's Reverse Mortgage is aproved, you attend an apointment with your lawyer to review the Senior's Reverse Mortgage (we want to ensure that you completely understand everything about your Senior's Reverse Mortgage), and sign the documents.

6.)  you receive your lump sum, and/or your monthly payments, as you have requested!

7.)  You have a greater enjoyment of life!!  (no more stress over money, and you can do the things you want to do with your money!)