Canadian Senior Living &
Bloom provides reverse mortgage solutions to 55+ homeowners in Ontario & BC.
As home values continue to rise over the past few years, many older homeowners are now accessing some of the equity they’ve grown, to improve their financial flexibility in retirement.
Funds from a reverse mortgage can be used to pay for healthcare and wellness costs which can be quite costly. This can be a particularly good option for a couple when one spouse needs a higher level of care - like assisted living or memory care. The funds from a reverse mortgage can be used to pay for out-of-home care for a spouse while the other partner can remain in their home. There are no monthly payments required and the funds are tax-free.
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