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April 27, 2022Reverse Mortgage Misconceptions – Installment 2.
April 29, 2022How much do you really know about reverse mortgages?
Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free ![🤔](https://static.xx.fbcdn.net/images/emoji.php/v9/t8d/1.5/16/1f914.png)
![🤔](https://static.xx.fbcdn.net/images/emoji.php/v9/t8d/1.5/16/1f914.png)
Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan ![🤔](https://static.xx.fbcdn.net/images/emoji.php/v9/t8d/1.5/16/1f914.png)
![🤔](https://static.xx.fbcdn.net/images/emoji.php/v9/t8d/1.5/16/1f914.png)
BUT, do you know the five common misconceptions around reverse mortgages? Well let’s help set the record straight:
1. You will no longer own your home…
Nothing could be further from the truth. You will always maintain title, ownership and control of your home – the bank simply has a first mortgage on the title, just like any other mortgage.
More to come…
Tune in for the next exciting installment of ‘Reverse Mortgage Misconceptions.’ ![😃](https://static.xx.fbcdn.net/images/emoji.php/v9/taa/1.5/16/1f603.png)
![😃](https://static.xx.fbcdn.net/images/emoji.php/v9/taa/1.5/16/1f603.png)