The writer is a reverse mortgage broker with numerous reverse mortgage clients.
Reverse mortgages pay you to continue living in your home. You can think of your home as the Bank of You: You’re borrowing money that you would have earned had you sold your house. Y can then use the money for whatever you want. Anything your heart desires (and your wallet can handle) is yours for the taking whether it’s a vacation in Switzerland, moving your master bed room to the first floor, or sending yourself to college!
The concept is kind of abstract if you’ve been paying a lender f the past 30 years or so, and it may be difficult to grasp at first. Once you get the gist of it, you can educate your friends and family about reverse mortgages. Next time you’re at a cocktail party, holiday dinner, social lunch, or any time reverse mortgages come up in conversation, you can dazzle everyone with your knowledge.
Vancouver mortgage insight is provided by Duncan Seward a registered Vancouver mortgage broker with TMG. He helps clients in North Vancouver, Surrey, Vancouver, Coquitlam, Maple Ridge, Burnaby and Langley with their mortgage questions. He is an expert in BC mortgage matters. You can check out regular mortgage updates at his blog pageVancouver Mortgage Rates.