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“Home Equity and Reverse Mortgage Loan Expert Broker, Licensed across BC, ON and AB”
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Q: How does a reverse mortgage work, and who is it right for?
A reverse mortgage lets homeowners 55+ access up to 55% of their home’s value in tax-free cash, without selling or making monthly payments.
It’s ideal for retirees who are house-rich but cash-poor and want to boost income, pay off debt, renovate, or help family, all while staying in their home.
You keep ownership and stay in your home; the loan is repaid when you sell, move out, or pass away.
You must keep up property taxes, insurance, and maintenance.
Answered October 2026
Q: When does a private mortgage make sense, and what should I watch out for?
A private mortgage can make sense when banks say no: bruised credit, self-employed income that’s hard to verify, a quick closing, or bridging until you sell or refinance. Rates are higher, so treat it as a short-term solution with a clear exit plan. Watch for lender and broker fees that seem excessive, prepayment penalties, and balloon payments. Read the terms carefully, and don’t hesitate to get a second opinion before signing.
Answered October 2026
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