How much do you really know about reverse mortgages? Maybe you know that reverse mortgages can help Canadians 55+ access the equity in their home, tax-free. Maybe you know that tens of thousands of Canadians are using a reverse mortgage as part of their financial plan. But did you know that there are 7 common misconceptions when it comes to understanding reverse mortgages in Canada.
Common Misconceptions About Reverse Mortgages
1. If you have a reverse mortgage, you no longer own your home
Nothing could be further from the truth. You always maintain title, ownership and control of your home – the lender simply…