Re­verse mort­gages

The Telegram (St. John’s) - Home Buyers' Guide - - METRO REGION -

Whether boomers or zoomers, 60 is def­i­nitely the new 40. Cana­dian seniors, the fastest grow­ing seg­ment of the pop­u­la­tion, are more ac­tive than ever. They are spend­ing their time trav­el­ling, vol­un­teer­ing, tak­ing up new hob­bies, or even em­bark­ing on new ca­reer paths. Many are re­tir­ing early by choice while oth­ers, as a re­sult of the volatile eco­nomic cli­mate, are re­tir­ing by cir­cum­stance. No mat­ter how re­tire­ment comes about, to­day's 60-plus set needs more in­come to sup­port the life­style they have be­come ac­cus­tomed to dur­ing their work­ing lives. They're not slow­ing down and, con­se­quently, their in­come needs are not de­creas­ing af­ter re­tire­ment. That's where a re­verse mort­gage can help. With a re­verse mort­gage home­own­ers can use the eq­uity in their home to im­prove cash flow and add wealth build­ing po­ten­tial to their re­tire­ment plans.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.