A reverse mortgage allows seniors in Scarborough to access the wealth in their home to stay in the home they love.
Being able to age-in-place at home is the desired choice of most older homeowners in the GTA.
The costs of homecare can be out of reach for many, however, for those who own their own home, there is a solution.
If you live in Scarborough and are approaching retirement or are in retirement, there is a way to continue to enjoy your home and community while having more financial flexibility in retirement.
A Bloom Reverse Mortgage is available to 55+ Canadians enabling them to access up to 55% of the value of their homes. Customers continue to own and live in their homes and reverse mortgages require no regular payments.
As home values have increased in Scarborough and across the Greater Toronto Area, many senior homeowners now have a tool available to them to fund costly later-life expenses like homecare and home accessibility renovations.
Also, a reverse mortgage can also be an ideal solution to cover the costs associated with long-term care when needed for a spouse while allowing the other partner to remain in the home.
Reverse mortgages can also be used for consolidating mortgage and credit card debt and even provide a down-payment gift to a family member. The funds are tax-free and can be used as you wish to help you stay in the home you love.
Could a reverse mortgage be the right solution for you or a loved one? Call a Bloom Customer Advocate or visit our website to learn whether this option could work for you.
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