• Reverse MortgagesReverse Mortgages Can Help

    My passionate Italian mother loved her home and fought fiercely to remain in the dwelling my parents worked so hard to achieve. Unfortunately, due to diabetes and osteoporosis, she was forced to move to a long term care facility. What still remains in my mind is the love of her home.

    For many like-minded Canadians, she is not alone. Their home is their sanctuary. Reverse Mortgages are now an option to help Canadians remain in their home longer not only with dignity, but more importantly, happiness. It is no wonder these products have grown by 35% in the past year. They improve cash flow and allow pensioners to reap the benefits of the home they worked so hard to own.

    The 3 main reasons for the growth in Reverse Mortgages are:

    1. An aging population that is growing.
    2. Lack of retirement funds or ample cash flow.
    3. Soaring amounts of equity in their current homes.

    Is it for everyone? No. We will write in future editions the negatives and alternatives. But is it worth investigating? Yes. Generally speaking, the perfect client is the “cash poor/house rich”. This is an owner who has paid off their home to a very low amount or paid off their mortgage in its entirety.

    Robert Floris of Mortgage Architects will be happy to provide an honest, no obligation consultation to explore if Reverse Mortgages is right for you!

    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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