Common myths and misconceptions about reverse mortgages

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Mortgage Renewal in Cambridge, ON

Though reverse mortgages have been available in Canada for many years, they remain a commonly misunderstood product. A reverse mortgage is unlike most traditional mortgage products; it’s a long-term financing solution that gives borrowers over 55 years old access to a portion of the equity that already exists in their home and turns it into payment free, tax-free cash.

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Original Article Source Credits: MORTGAGE BROKER NEWS , https://www.mortgagebrokernews.ca/

Article Written By:  Kasi Johnston

Original Article Posted on: 01 Jun 2020

Link to Original Article: https://www.mortgagebrokernews.ca/news/common-myths-and-misconceptions-about-reverse-mortgages-330079.aspx

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