A Canada Reverse Mortgage – over thirty years & counting

Reverse mortgages are very BIG in the United States and in Great Britain. Millions of seniors have acquired reverse mortgages over the decades that reverse mortgages have been around in the world. If you have equity in your home, and if you are at least 55 years old, you can get a reverse mortgage in Canada.

In Canada, since 1986 reverse mortgages have helped thousands and thousands of Canadians gain access to their home equity. Home equity just sitting in your home isn’t working for you efficiently. You can ‘unlock’ it to either take out equity to provide an income to you OR you can use it to SWAP high loan payments for no payments; either way you can improve your ‘living lifestyle’. Meaning, you can enjoy living on more money in your pocket each month.

55% of seniors age 65 or over are still making monthly mortgage payments to one of the Big Chartered Banks. Banks often will make seniors pay higher size payments (caused by a very short amortization period of the loan) which makes it hard for most seniors to live on. This comes at a time when these same seniors are on limited, fixed pension incomes.

You could be making money from your own money. And in today’s climate of low, low interest rates seniors with fixed incomes could really use some extra income or cash. Wisely, homeowners 55 or older are learning that with reverse mortgages they can ‘unlock’ the equity in their homes – on a no income or no credit rating basis – and do the things that they’d like to do without worrying about making monthly repayments. Their cash flow is greatly improved. They live better … and that sometimes means ‘longer’.

Imagine for a moment you took enough money out of your home – that may be currently paid off – that could generate after being invested properly $1500 per month in income. And then realize that to make that investment – ALL borrowing costs are deducted from that income. Even though you are actually making a monthly payment to make a mortgage payment. Meaning only a portion of the $1500 is additional taxable income. Now, imagine that extra $1500 income each month – how would that change your lifestyle? Would you live better, eat better and sleep better. Without the worry of those unforeseen bills that tend to pop up from time to time. A reverse mortgage, set up by Gregory Stanley, will do that for you. He will make sure of that. Once a client always a client.

The first time any Canadian purchased a reverse mortgage was in 1986. Since then reverse mortgages have helped thousands draw income or cash out of their homes – homes that seniors would rather not sell or move from for many, many years. A reverse mortgage achieves that! Reverse mortgages extremely flexible for all off your foreseen and unforeseeable needs.

HOW WE HELP YOU –  2 testimonials:

SWAP A HIGH PAYMENT TO LOW PAYMENT (OR NO PAYMENT) MORTGAGE AND IMPROVE CASHFLOW FOR EASIER LIVING (testimonial):

“A single, hard working woman who was 61 1/2 years old with a home in a big city worth around $660,000 contacted us. She had a $60,000 mortgage with an aggressive contracted amortization imposed by her own Bank (meaning – very high monthly payments – to make it paid off by age 65), a small car loan and some small balances on credit cards. She was a nurse and was set to retire at 65 with a full pension, OAS & CPP, with a plan to have no mortgage and she planned to rent out the basement of her home after her son moved out. Currently there was no suite there. Her plan was going well, until she was diagnosed with MS. It moved very quickly and she had to go on permanent disability. Because her benefits were taxable, she was down to less than half of her previous income and couldn’t make the full mortgage payments. She went to her bank asking to have the mortgage turned into an interest only LOC or extend the amortization, but because of the lack of income, they could not qualify her. To help you out she was given a reverse mortgage for $110,000 to pay out the mortgage, car loan and credit cards, plus give her about $30,000 to build her basement suite and bridge the few years she had until her full retirement benefits started rolling in. He only other option would have been selling the home. The home is now worth over $1 million. Using income from the suite, she kept up – just making her interest payments each year – so her debt is still $110,000. So her house has risen in value and the reverse mortgage balance is the same. With a reverse mortgage you don’t have to make payments ever – but you can always pay towards the annual interest cost. A very valuable financial tool.”

A SENIOR CAN GET ILL ANYTIME THAT CAN CAUSE A HARDSHIP FOR BOTH THE SENIOR AND HER CHILDREN (testimonial):

“Sometimes we are asked as brokers to create income from reverse mortgage proceeds. One way is with an Income Advantage produce (that creates a better cash-flow solution). We greatly benefited  not only a beautiful lady in her late 70’s with moderately advanced Alzheimer’s but also helped her lift a burden off of her children. Her short-term memory was about 30 minutes; long-term memory was perfect. She was still living in the home she had raised her daughters in. Doctors encouraged the family to keep her in the home versus moving to a care facility and totally disrupting her life. Her two daughters had taken long-term leaves of absence from work to care for mom because there were no investments left, and this was beginning to take a toll on their lives. Their credit union couldn’t qualify the mother for any mortgage or line of credit because of limited income (OAS & CPP only) but suggested the daughters (joint Power of attorney) ask about reverse mortgages. We can arrange for a ‘income advantage’ program that creates an income. We did. The children are receiving $ 6500 per month to pay for full-time in-home care; the home was appraised high enough that, even with a very low loan-to-value, this cash-flow will last 10 years before reaching the authorized limit (40% of the home value).” And in 10 years time, Gregory Stanley will request a new appraisal to see how much real estate values have risen (as they usually do over a 10 year period) and have the loan ‘reset’ to the higher home value; this may allow for more funds available to adjust for future planning needs. Once you use mortgage broker Gregory Stanley he will always be there to help you.

So let us help you. We are Canada’s authority on reverse mortgages and also creating cash flow solution to improve income for seniors. It takes only 3 – 5 minutes to get started – by contacting Gregory Stanley – to get an unbiased opinion on what is right for you. He helps seniors from Coast to Coast.

Canadian reverse mortgages are unique to Canadians; and they have different rules. We are pleased to say that Canada offers the very best in contractual guarantees and benefits in the world. You never have to leave your home or be forced to sell your home.

In fact, Canadian reverse lenders ‘guarantee’ in writing that their loan balanced owed will never exceed the market value of your home – and this is regardless of the time that you hold a Canada reverse mortgage (sometimes 20, 25 or even 30 years). The average length of time a reverse mortgage is kept is 9.3 years; and the average equity left at time the loan is repaid is approximately 50% of your home’s value. These are the statistics …. in fact 3000 seniors obtain a reverse mortgage each and every year.

Not only will we send you the “7 secrets about Reverse Mortgages’ package via email. A colorful and easy to read booklet that you can open in the comfort of your own favorite chair. But, you can speak to Gregory Stanley and be rest assured that you are in good hands, and each question will be thoroughly answered and the service to help you decide on whether or not a reverse mortgage Canada loan is best for you or not will be second to none. We are really good at the work we do.

Thirty years of reverse mortgages in Canada! That is quite a record. Homeowners are indeed ‘unlocking’ home equity that they have built up over the years so homeowners aged 55 or older can get their access to money from the equity of their own home. To enjoy a better life on their terms. But the important distinction with us – we are mortgage brokers. We will advise you whether or not a Canada reverse mortgage is best suited for your own unique needs or not.

We will ensure that you obtain the right mortgage loan that is best for you. Send in the quick form and we’ll help you make the right decision that is best for you.

Gregory Stanley  1-886-658-0492 – CALL NOW

Gregory’s Mission Statement:

“My first interest is in your best interest”