Reverse mortgage business is booming in Canada as seniors tap home equity to pay debts

Author: External Author | Feb 05, 2020 | Categories: Debt Consolidation , First Time Home Buyer Mortgage , Mortgage Broker , Mortgage Calculator , Mortgage Rates , Private Equity Investors , Private Mortgage Lending , Refinance Mortgage , Reverse Mortgage , Royal Canadian Legion , Self Employed Mortgage

Canada’s largest reverse mortgage lender posted record originations last year, with factors such as disappearing workplace pensions and stringent stress tests for borrowing pushing seniors to tap home equity in order to pay debts and fund their retirement.

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Original Article Source Credits: O.canada, https://o.canada.com/

Article Written By: BARBARA SHECTER

Original Article Posted on : January 14, 2020

Link to Original Article: https://o.canada.com/real-estate/mortgages/reverse-mortgage-business-is-booming-in-canada-as-seniors-tap-home-equity-to-pay-debts/wcm/3ef17d55-fa74-436d-80b6-8238d903d0cf