A reverse mortgage allows homeowners who are 55 years and older to access up to 55% of their home's value From m_zadikian
HomeEquity Bank says reverse mortgage originations topped $1 billion in 2022 for the second year in a row.HomeEquity Bank reported on Wednesday that reverse mortgage originations topped the $1 billion mark in 2022 for the second year in a row.
“People are living longer, they haven’t saved enough, and now inflation has made the cost of everything more expensive.” HomeEquity’s originations in 2019 and 2020 were $820 million and $830 million, respectively. That surpassed the $1 billion mark in 2021 and 2022.Reverse mortgages have their advantages. They allow owners to “age in place” for longer, provide extra income and there are no monthly payments since the loan and interest are repaid upon selling the home. The additional money from a reverse mortgage also doesn’t impact government benefits such as Old Age Security or the Guaranteed Income Supplement.
HomeEquity Bank and Equitable Bank are the only institutions in Canada that offer reverse mortgages. HomeEquity’s reverse mortgage portfolio is the biggest at over $6 billion.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Opinion | Should Canadians write off Mexico as a travel destination?Opinion: Should Canadians write off Mexico as a travel destination? Parts of the country I studiously avoid, but Mexico is a big, diverse place; we shouldn’t dismiss it in one fell swoop, says Andrea Mandel-Campbell.
اقرأ أكثر »
Pickleball craze has Canadians of all ages headed for courtThe quirky court sport with the vocabulary to match has been around for six decades, but only truly caught fire during the COVID\u002D19 pandemic
اقرأ أكثر »
49% of Canadians Now Regret The Amount of Debt They've Taken On: MNPThe MNP Consumer Debt Index hit an all-time low, indicating heightened anxiety around debt and ability to pay bills. MNPdebt | IpsosCanada | debt Canada economy finance mortgages
اقرأ أكثر »
Pickleball craze has Canadians of all ages headed for courtThe quirky court sport with the vocabulary to match has been around for six decades, but only truly caught fire during the COVID\u002D19 pandemic
اقرأ أكثر »
Canadians' privacy could take a serious hit this coming legislative sessionCanadians should rightfully be distrustful, be prepared to push back against such sweeping efforts to torpedo privacy rights, and to advocate for much tougher privacy protection provisions in the law.
اقرأ أكثر »
Pickleball craze has Canadians of all ages headed for courtThe quirky court sport with the vocabulary to match has been around for six decades, but only truly caught fire during the COVID\u002D19 pandemic
اقرأ أكثر »