Our senior citizens are a precious part of every society and they need their due respect. That is the reason that reverse mortgages were created and introduced into Canada more than 30 years ago. A reverse mortgage in Canada is an important financial tool for seniors to access home equity to pay for emergencies or just to live better. Uses would include costs to replace a roof, pay for expensive medicines to stay alive that are not covered by medical insurance, or pay off a car payment that is hurting them financially, or most dramatically remove the need to make mortgage payments altogether).
One of the biggest hardships is that 55% of all Canadian homeowners age 65 or older are still making mortgage payments. This is after a lifetime of working. And what makes it worse is that banks insist on older people to make larger payments (than younger people need to) on the same size of loan … just because they are older (and, we can only guess, expected to die sooner). Which is completely unfair considering that those same seniors have large amounts of equity in their homes – so there is no risk to a bank to let them make smaller payments – payments the same smaller size as younger borrowers.
These seniors have pooled a lot in the economic, social, intellectual and overall growth of a country like Canada. Therefore a special Home Equity Loan of Credit for Seniors is introduced by a Chartered bank in 1986.
In 2017 a large insurance company will introduce its own Canada Reverse Mortgage.
Canada Reverse Mortgage is here to help and assist with a financial expert like Gregory Stanley. If you are age 55 or above and a bit frustrated with your future ability to continue to make mortgage payments with your existing mortgage lender.
The professionals of Canada Reverse Mortgage will provide you with maximum of 40 % loan of the current price your house as a home equity loan. So you are not losing anything even if you have to sell it right now. You can repay that 30 or 40 %, and still carry the rest of 60 or 70 %.
Even if you keep on having that loan for years then you know the price of your house will also rise with time. But the Home Equity Loan will be the same percentage. So it means if the market price of your home will be risen up to 100 % in 5 or 10 years, and still you have to pay that 30 or 40 % of home equity loan that you acquired, and the rest of price money that has risen will go in your pocket. So don’t waste time for this wonderful deal that Canada Reverse Mortgage is offering, and call on our toll free number: 1-866-658-0492.