• Reverse Mortgage ExpertsReverse Mortgage Experts

    I did something I thought I would never do.

    It is safe to say that I had strong feelings regarding this product. Unfortunately, the thoughts were very negative. At Reverse Mortgage Experts in Hamilton, Ontario, we readily admit when we may have been wrong. What is the product? A reverse mortgage. Due to demographic changes and a general population that has not adequately saved for retirement, and as Reverse Mortgage Experts now, they should be viewed as an option.

    Mary came to visit Reverse Mortgage Experts concerning her situation. She was 85 years old and had her house almost completely paid off. She was living ok, but was concerned since her daughter was ill at 58 years old and earning a small pension. If Mary died first, the daughter would have nowhere to go and not be able to live on her meagre amount. The solution came to us as Reverse Mortgage Experts that putting both names on a reverse mortgage with joint tenants of survivorship could solve the problem.

    If Mary should die first, she will have peace of mind that her daughter could remain at the house. Secondly, they took a lump sum of cash for emergencies and renovations.

    Thirdly, they can keep all their pension income and not have any payments.

    How do I feel now? Happy that Reverse Mortgage Experts helped the clients make the perfect decision. So happy Mary delivered shortbread cookies to show her appreciation.

    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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