008: Reverse Mortgages
What is a reverse mortgage? Is it right for me?
Saving enough for retirement can be a challenge. As people continue to live longer, retirement savings are being stretched further over many more years. However, there is an option that is increasing in popularity – a reverse mortgage.
All too often homeowners are not fully aware of all their financial options — some have accumulated a lot of equity in their homes and may be house rich but cash poor. They consider downsizing their home and leaving the community they love in order to make ends meet.
In some cases, a reverse mortgage option might make sense. So, what is a reverse mortgage and how does it work?
In this month’s podcast we speak to Sue Pimento from HomeEquity Bank about reverse mortgages.
About your host
Gina studied Journalism at the Southern Alberta Institute of Technology (SAIT) in Calgary, and began her career as a sports reporter at the Calgary Sun covering college and university sports. With a longing for new adventure, she eventually moved back home to Hamilton, Ontario to continue her career. Driven by a thirst for knowledge, Gina has studied Psychology and English at McMaster University, as well as Applied Music at Mohawk College.Throughout her career, she has never strayed too far from her journalism roots and has worked as an Editor for various publications including The Hamilton Spectator and Canadian Mortgage Professional Magazine.
Canadian owned and operated since 1990, TMG The Mortgage Group has helped a quarter million Canadians get the right mortgage solution to suit their financial needs, earning a respected reputation with lenders and clients as leading-edge mortgage experts that deliver on the company’s Vision+Values.
From coast to coast, our 700+ qualified and Accredited Mortgage Professionals and Mortgage Professionals in major, metropolitan cities and regional areas are meticulously trained on lender mortgage products and services to provide professional, knowledgeable expertise.