What is a Reverse Mortgage and How Can It Help People in Barrie?
Income Today. Your Home For a Lifetime.
If you're like many people in the Barrie and surrounding areas, you've spent much of your life working hard and diligently making your mortgage payments. Yet now that you need income the most, there’s a good chance the bulk of your net worth is locked up as equity in your home. Fortunately there's a solution. By choosing a Reverse Mortgage, you receive income in your lifetime while retaining full control of the place where you rest your head.
Security. Ownership. Flexibility.
A Secure Source of Income
Simply put, a Reverse Mortgage is a loan secured by your home with a big difference. You do not have to make any payments interest or principal for as long as you or your spouse live there. All you have to do is keep your property in good maintenance, pay your property taxes and property insurance.
Designed with Homeowners in Mind
At your stage of life, excessive risk is the last thing you need. You maintain full ownership of your home. And we guarantee you’ll never owe more than the fair market value at the time it is sold, so you can rest assured your Reverse Mortgage will never be a burden to your heirs.
A Canadian Solution
The Reverse Mortgage was created for the express purpose of helping Canadian homeowners. It is recognized by all of our country’s major banks (and many small ones) as well as credit unions and financial planners.