Reverse Mortgage Income

ReverseMortgages.ca

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Reverse Mortgages.ca

What Are The Benefits Of A Reverse Mortgage?

  • Easy Qualification
  • You may use the money received from your reverse mortgage in any way you wish, and no payments are required until you decide to sell your home.
  • No medical, income or credit qualifications are required.
  • Your home ownership is protected.
  • Your estate is also protected.
  • The title to your home will remain in your name, and you will never be asked to move or sell your home in order to repay a reverse mortgage.
  • The amount to be repaid is guaranteed not to exceed the fair market value of your home at the time it is sold, protecting the value of your estate for you and your heirs.
  • The payments you receive are tax free.
  • A reverse mortgage is a loan, and is therefore not technically considered an income. It will not affect your eligibility for government benefits.
  • Using a reverse mortgage can help you avoid RRIF withdrawals above the annual minimum.
  • Using a reverse mortgage can help to preserve your non-registered investments, the sale of which would otherwise result in a capital gains tax.
  • Stop making payments, and start getting paid.

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  • Pay off debts
  • Fix up your home
  • Cover monthly expenses
  • Never make a payment
    until you choose to move or sell

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