To alleviate possible consumer confusion that might arise when going through the process of getting a reverse mortgage, Dominion Lending Centres Edge Financial recently launched a new free-to-access online guide for home owners.
“The reason I created this guide is so that you can get the information and data that you need to make an objective, informed, and educated choice about reverse mortgages,” DLC Edge Financial mortgage agent and chartered accountant Michael Sneddon stated.
In a March 21 news release, the network acknowledged the various barriers preventing more Canadians from getting reverse mortgages.
“It can seem like a very daunting task at first since some people aren’t even sure what it entails. The complexity of the situation frightens many homeowners who haven’t properly considered the situation,” DLC Edge Financial said, adding that the guide will “help bridge the gap between the banks, the lenders, and the people who need the idea explained to them in realistic terms that everyday people can understand.”
Most importantly, the guide “immediately addresses myths about reverse mortgages, frequently asked questions, and many other points of interest.”
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