Is A Reverse Mortgage A Bad Idea In Canada?

Find more details about Reverse Mortgages here: https://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): https://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):