Craig and Dawn S.,Hamilton, Ontario reverse mortgage customers
Craig, 82 and Dawn, 75, have been living in their classic suburban home for many years. Over the years, they started to notice their home deteriorating and their old car was in desperate need of repairs.
Craig spoke to his sister Colleen who suggested he look into a Reverse Mortgage to access cash and invest some of the money to improve their monthly cash flow.
Craig and Dawn successfully accessed a full 40% of their appraised home value.
With no regular payments required, Craig and Dawn were able to preserve their existing RRIF investment portfolio, replace their car, make minor home renovations and create a monthly income stream with the remaining balance.
“To be able to come up with a financial solution specifically for our needs and not have to worry about the consequences on our lifestyle is the ideal situation, and we are so grateful for it.”