Explaining Reverse Mortgages to Your Clients

Struggling to find content to share on your social media pages?

Stop scrolling through Instagram and Facebook. All you need is REALTOR.ca.

Our consumer lifestyle blog, Living Room, offers content including home improvement, market trends, DIY projects, neighbourhood guides and profiles on unique homes. Living Room publishes exciting new content four times a week (with unique French content for our Francophone fans).

While CREA Café is curated specifically to help your business grow and thrive, Living Room content is perfect to share with your clients.

Owned and operated by the Canadian Real Estate Association (CREA), REALTOR.ca is the No. 1 real estate platform in Canada* with MLS® System listings from across the country.

*Comscore, 2020


Now more than ever, homeowners in Canada are tapping into money from their home equity without having to sell their home in a process known as a reverse mortgage. 

Over the years, this type of mortgage loan has increased in popularity, particularly among seniors. In fact, in January 2020, reverse mortgage debt reached a record of $4.03 billion, according to data from the Office of the Superintendent of Financial Institutions (OSFI).

“A lot of seniors have a lot of equity in their home,” says Elan Weintraub, director and mortgage broker at Mortgage Outlet Inc. “If they’re 55-, 65-, 75-years old and they’re potentially mortgage free, it would let them, if they want to, give their kids or their grandkids a gift, say $50,000, or a reverse mortgage would pay them $1,000 a month which they could use to enjoy their life.”

Interested homeowners can expect to be evaluated on the appraised value of their property (plus its type and condition), eligibility criteria and where they live.

How much money can they borrow from a reverse mortgage?

What’s the eligibility criteria?

Can it be reversed?

Our friends at REALTOR.ca Living Room break down what this means in simple terms, how they can get started, the benefits and more. Read the full blog now.

Share the original blog with your clients and followers with the Facebook button below!

You can also follow REALTOR.ca on Twitter, Instagram and Pinterest.

REALTOR.ca is the most popular and most trusted real estate website in Canada. Owned and operated by the Canadian Real Estate Association (CREA), REALTOR.ca provides up-to-date and reliable information that makes finding your dream property easy and enjoyable. REALTOR.ca is popular with sellers, buyers, and renters and is accessible online and on mobile devices.


Leave a Reply

Your email address will not be published. Required fields are marked *


@crea_aci
This error message is only visible to WordPress admins

Error: API requests are being delayed for this account. New posts will not be retrieved.

Log in as an administrator and view the Instagram Feed settings page for more details.