One of the most effective ways is to take advantage of your home equity through the Reverse Mortgage.

With a Reverse Mortgage

1. you can access up to 55% to 59% of your home’s equity, tax-free without effecting your OAS or CPP. 
2. you can acquire the money as a lump-sum, a monthly or quarterly advance, or a combination of the two.
3. you remain in your home.
4. you maintain the title and ownership of your home.
5. you don’t have to make any regular mortgage payments or pay back the loan until you leave or sell your home.

With a Reverse Mortgage you can use the money towards

1. Paying off your existing mortgage and other debts.
2. Making renovations and improvements to your home.
3. Increasing your monthly cash flow.
4. Helping your children or grandchildren.
5. Handling any unexpected expenses such as medical care.
6. Take a dream vacation.

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