• How To Retire At Home

    Most of the retirees that we meet with ask us How To Retire At Home. Well, if their pension and/or their savings were sufficient, they probably wouldn’t be asking us. Usually the issue is cash flow. Most of our retired clients have worked their whole lives to pay down their house and become mortgage-free. Great! But being mortgage-free does not pay the bills. And they don’t want to sell their home, hence the question: How To Retire At Home.

    Release Equity In Your Home

    Even if your home is paid off with no mortgage, you still have bills:How To Retire At Home

    • Food
    • Heat
    • Electricity
    • Water
    • Property Taxes
    • Car Payments/Maintenance?
    • Etc.

    If you don’t have sufficient income to cover expenses like these, How To Retire At Home? There is a way without selling your home: by getting a reverse mortgage.

    Why Get A Reverse Mortgage As Opposed To A Regular Mortgage?

    The answer to this question is very simple. If you don’t have enough income to cover your bills and expenses, then it is almost guaranteed that you will not be able to qualify for a mortgage (or a home equity line of credit). A regular mortgage or home equity line of credit will allow you to access the equity in your home. The problem is: they both require you to make payments!! A reverse mortgage is the only product that does not require you to make monthly payments.

    Robert Floris is a Mortgage Broker. His office is located at 651 Fennell Avenue East in Hamilton, Ontario. If you would like to speak with Robert, he can be reached at 905-574-9200 #215.

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