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Six Benefits of a Reverse Mortgage

Blog by Marcie Panah BSc, MA Personal Real Estate Corporation | February 27th, 2017

There are many benefits to doing a Reverse Mortgage here are six:

1) Access up to 55% of value in your home: Appraised value not accessed value.

2) These funds can assist you for any need: Renovation, home care, pay out debt, gift to kids, holiday, subsidize pension etc.

3) The money recieved is TAX FREE! Since you are accessing equity in your home all funds are tax free.

4) No income requirement. The amount of funds you can access is only based on two things 1) your age, 2) appraised value of your home.

5) No monthly payments: The equity you access is paid back from the proceeds when you sell.

6) No health checks required: Since the mortgage is based on the property value and age there are no health checks needed or life insurance required.

All the best,
Grant Powell - Mortgage & Loan Expert  

Contact us for more information on your investment options.  www.marcie.ca | marcieshome@gmail.com