Did you know that over 25% of Canadians aged 55 and older are considering a reverse mortgage? With home values skyrocketing across the country, homeowners nearing or already in retirement are exploring the benefits of a reverse mortgage to tap into their home equity. But is this retirement planning tool worth it?
In this comprehensive guide, Money.ca examines how a reverse mortgage works in Canada and dives into the pros and cons to help you decide if a reverse mortgage is the right choice for your financial future.
What is a reverse mortgage?
A reverse mortgage is a home equity loan with deferred payments. You receive the funds tax-free,
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