Moussa Mortgage

As the battle against COVID-19 rages on, one of the sadder casualties of our shuttered and anxious economy has been the savings of older Canadians, most of whom do not have a defined benefit, defined contribution or any type of non-government pension to rely on in the best of times. Now, faced with the same liquidity crunch that is flattening every layer of the economy, from out of work waitresses to the country’s largest banks, Canada’s 55-plus community requires and deser...ves a solution that protects the fruits of their labour. Their options, however, are limited. Most Canadians 55-plus don’t have the opportunity to drive income by working more. Credit cards or lines of credit are of little help for those on fixed incomes. Many have homes or equities they could, under normal circumstances, sell as a means of freeing up funds, but Pimento describes the current selling environment as the absolute worst. A reverse mortgage from HomeEquity Bank can unlock the equity in clients’ homes without increasing their tax burden or impacting their government benefits. At a time when most Canadians are seeking some form of payment relief, HEB’s reverse mortgages provide them with a personalized deferral plan. No Canadian homeowner should be forced to sit back and watch helplessly as circumstances beyond their control devour their savings and cast a long, dark shadow across their financial futures; they have worked too long and too hard. Reverse mortgages from HomeEquity Bank can help your clients come through the COVID-19 crisis stronger and more liquid, allowing them, in turn, to help those closest to them. Source : https://www.mortgagebrokernews.ca//demand-for-reverse-mort If you or anyone you know would like to learn more about CHIP reverse mortgages, don't hesitate to reach out. I am here to help. Tarik Moussa 905-392-8888 [email protected]

What can you do? If you find yourself facing financial difficulties, as a result of job loss, family income reduction, or for other reasons, it can be an overwhelming experience leaving you feeling uncomfortable and unsure of what to do. By following these 3 simple steps, you can make a big difference in resolving your financial difficulties. 1) Talk to your mortgage professional... To increase the chance of successfully managing your financial situation through early intervention, call your mortgage professional at the first sign of financial difficulty and ask them about information on the options available for managing your financial situation. It is important to and keep your mortgage professional informed as circumstances evolve. 2) Clarify the financial picture In order to help your mortgage professional fully understand your financial situation, before meeting with them, prepare a detailed list of financial obligations including any credit cards, loans, household bills with the amounts owing and their due dates. Be sure to include information about your current income, savings accounts, investments, and any other assets. 3) Stay informed The Government of Canada has a number of online resources available to help you manage your finances including "Take Charge of Your Debts" - an online tool designed to help you understand debt problems, and includes information on making a budget, budget counselling, collection agencies, credit, and credit repair. Source : https://www.cmhc-schl.gc.ca//dealing-with-mortgage-payment