Saturday Aug 17, 2024
HELOCs and Reverse Mortgages
House prices have risen dramatically over the last 20 years, especially in Canada's larger cities such as Vancouver and Toronto. Home equity has increased and now represents a more significant percentage of a retiree's net worth. That means that for an average Canadian retiree, how to use their home equity in retirement is potentially as important a decision as what they do with their investment portfolio.
You can access the companion NICE Information Tool on our website at: https://www.nicenet.ca/articles/canadian-seniors-helocs-reverse-mortgages. The online Information Tool provides related links to videos, infographics, and a printable version. The National Initiative for Care of the Elderly (NICE) has developed a series of information tools derived from research studies that focus on understanding the challenges people face as they age. The research for these information tools is conducted manually, while their distribution utilizes AI-based technologies for generating audio and images.
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