In this episode of The Mortgage Den, we break down the truth about reverse mortgages in Canada, and address the biggest fears seniors have: Do you lose ownership of your home? Do your kids inherit the debt? Can you run out of equity? What happens if housing prices drop? Are reverse mortgages only for people in financial trouble? Reverse mortgages are available to Canadians 55 and older, allowing homeowners to access equity without making monthly mortgage payments. But how do they really work? And what are the risks? Nick Da Silva and Leo Saleh from Northwood Mortgage explain: How reverse mortgages are structured in Canada. The 55% maximum equity rule. What happens if property values decline. Whether the bank can take your home. The truth about negative equity protection. When a reverse mortgage makes sense, and when it doesn’t There are many misconceptions — especially from U.S. stories that don’t apply to Canada. In this episode, we separate myths from facts. If you’re considering a reverse mortgage, helping aging parents, or planning retirement income strategies, this episode is essential viewing.
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