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Eligibility:
▪️Are you above 55 years of age?
▪️Then, you can be eligible for the Reverse Mortgage.


Pros of Reverse Mortgage:
✅You don't need to make any regular payments.
✅You may turn some of the value of your home into cash, without having to sell it.
✅You still own your home.
✅You may have options as to when and how you receive the money.
✅You don't pay tax on the money you borrow
this money doesn't affect the Old Age Security (OAS) or Guaranteed Income Supplement (GIS) benefits you may be getting.

{Reference: https://www.canada.ca/en/financial-consumer-agency/services/mortgages/reverse-mortgages.html }
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