A whopping 60% of Canadian home owners are mortgage free. What a fantastic statistic!
Congratulations all you lucky ones, you must be on top of the world liv’in the life right?
Logically the first thought that comes to mind is that these people have it made in the shade. But it is just not the case for many.
The downside of this is that as we get older, retire, go on pension, lose a spouse, divorce, poor health stacked up against ever rising real estate taxes, utility, maintenance costs etc. etc., and fixed incomes, there is not enough CASH FLOW to meet the bills, to travel and live our lives carefree without financial stress.
Yes HOME EQUITY IS KING but if it sits idle and you can’t access it, what good is it? As one expert put it “Equity without CASH FLOW doesn’t do a damn bit of good for you.” Think of it as DEAD MONEY!
For decades Canadians have scrimped and saved to someday have a MORTGAGE BURNING PARTY. This was once a worthwhile goal but it is grossly outdated in this day and age, as the only ones to benefit are family members via inheritance.
Too many elderly Canadians are living under financial stress when they do not need to. Many have no choice but to rely on lines of credit, and credit cards none of which get paid off and hence high interest charges pile up. Sadly, we have seen too many forced to sell their homes because they could not afford to keep up.
Karen and Tom came to see us recently in desperation and in fear of losing there home. Tom was ill for some time and Karen had to take time from work to drive him to doctor/hospital appointments for close to a year. She was let go from her work and since she does not yet qualify for CPP & OAS they were forced to rely on credit cards; EI also ran out. After assessing their needs, we arranged an $80K first mortgage, paid out $40K in debt, eliminated $1,200 per month in payments, leaving them with $40K in capital going forward giving her sufficient time to find a new job, cover the bills with money to spare for up to one year. The best part is that they now have no more financial stress with a carefree, no payment mortgage with $325,000 equity left in their home.
If you are mortgage free and living with financial stress and you think you do not qualify for a mortgage or even if you do, you will not be able to afford the payments, we have good news for you.
We have a lender who specializes in mortgages to seniors that utilizes your home equity to get you the money you need, with or without any payments. It is your choice.
That’s right, you can get relief by accessing the equity in your home without any negative financial impact to your cash flow. In fact, cash flow problems are completely eliminated and you can obtain the capital you need to live the carefree lifestyle you have earned and desire to enjoy.

This program can benefit you even if you are not mortgage free but have substantial equity.
This is the first of a two part series. Please call for more details, we are here to help!