March 8, 2024 | Podcast
53. What to Know About Reverse Mortgages with Ivone Souza
Welcome to TR Talks Toronto Real Estate, the podcast where Geeta Rajpal alongside special guest Ivone Souza, a seasoned Mortgage Agent from Clear Trust Mortgage, delve into reverse mortgages- what they are, who could be benefitting from them and what options are possible. The episode goes into details of the benefits of reverse mortgages for retirees that have limited resources but a lot of home equity that they have easy access to.
Geeta and Ivone kick off the conversation by defining what a reverse mortgage is, what are the eligible requirements and providing a comprehensive understanding of this unique financial instrument. Listeners can expect a breakdown of the potential advantages and disadvantages associated with reverse mortgages, offering a balanced perspective to help individuals make informed decisions.
In addition, the episode explores the flexibility of repayment options, addressing whether borrowers can repay the loan early without penalties and what prepayment options are available. They share their expertise on these topics, shedding light on the nuances that borrowers should be aware of when considering a reverse mortgage.
Whether you’re a homeowner contemplating a reverse mortgage or simply curious about this financial strategy for your aging parents TR Talks Toronto Real Estate offers a wealth of information in an engaging and accessible format. Tune in as Geeta and Ivone discuss a viable option for house rich but potentially cash poor seniors that could be taking advantage of an excellent tool available to them through their lenders.
Listen to the complete episode for all the information you need to consider this option for yourself or a loved one.
Ivone Souza
Mortgage Agent Level 2
Clear Trust Mortgages
647-403-8153
ivone@souzamortgagesolutions.ca
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