What to know before taking out a reverse mortgage

In Canada, a reverse mortgage is a type of loan that is secured against your main residence. This financing solution gives you access to tax-free cash with no mandatory ongoing payments. You continue to own and live in your home, and you’ll never be forced to move. It’s a great idea for those who are paying off debt, making renovations, paying for in-home care and more. Home equity expert Yvonne Ziomecki recently stopped by to give us a full breakdown including who is eligible to apply, how to get started and more. Watch the video clip to learn the saving solutions you need.