Reverse mortgages offer Canadian retirees a unique way to unlock the equity in their homes, providing them with tax-free cash without the need to sell their property or make monthly mortgage payments. This strategy can be particularly beneficial for seniors seeking to enhance their financial stability during retirement. Here’s an in-depth look at what reverse mortgages are, their history, who they’re suitable for, their financial benefits, legal standing, common pitfalls, and the importance of seeking proper guidance.
