Is A Reverse Mortgage A Bad Idea In Canada?

Find more details about Reverse Mortgages here:
mymortgagebroker.com/how-does-a-reverse-mortgage-work-canada/
Have you heard about reverse mortgages in Canada? But, do you know how they work?
In this video, I talk about reverse mortgages in Canada. I cover the following topics:(1:11) What is a reverse mortgage?
(2:43) How does a reverse mortgage work?
(3:46) Who qualifies for a reverse mortgage?
(5:04) When do I pay a reverse mortgage back?
(8:25) Is a reverse mortgage a bad idea?
(14:06) Client example of using a reverse mortgage to purchase a home
(19:18) Client example of using a reverse mortgage to consolidate debt.
I also mention during this video that each province has a slightly different program to help seniors with their property tax bills (7:22): mymortgagebroker.com/how-does-a-reverse-mortgage-work-canada/
If you have a question about your specific situation, I would be more than happy to answer your questions.
Please connect with me through my website (about us page):
mymortgagebroker.com/about-us
If you find this video helpful, please leave a comment and "smash" that like button!
I appreciate your feedback.
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[@TashabyNature]

Great video

[@gregtremblay7504]

Hello Steven. May I ask your opinion on "what won't they tell me" and your favorite Institution offering these mortgages? I am seriously considering one and want to be very accurate in all aspects, such as "does the Interest compound?

[@mymortgagebroker-stevencre1661]

The interest does compound. Every situation is different. I'm happy to chat, with you about your specific situation. Connect with me through my website... MyMortgageBroker.com

[@rg6569]

Compound! Can't you ppl find any other way to squeeze blood from a stone? With luck Karma will have ppl like you on the soup line as this economy crashes!! How do you sleep?