Genesis Reverse Mortgages
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One of the most effective ways is to take advantage of your home equity through the Reverse Mortgage.
With a Reverse Mortgage
- you can access up to 55% to 59% of your home’s equity, tax-free without effecting your OAS or CPP.
- you can acquire the money as a lump-sum, a monthly or quarterly advance, or a combination of the two.
- you remain in your home.
- you maintain the title and ownership of your home.
- you don’t have to make any regular mortgage payments or pay back the loan until you leave or sell your home.
With a Reverse Mortgage you can use the money towards
- Paying off your existing mortgage and other debts.
- Making renovations and improvements to your home.
- Increasing your monthly cash flow.
- Helping your children or grandchildren.
- Handling any unexpected expenses such as medical care.
- Take a dream vacation.
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