A reverse mortgage is a financial solution designed for homeowners age 55+ that allows them to access a portion of their home equity without having to sell their home or make monthly mortgage payments. Many retirees today are "house rich but cash flow tight,” and a reverse mortgage can help create financial flexibility for things like supplementing retirement income, covering unexpected medical expenses, supporting aging in place, or simply maintaining quality of life. The homeowner remains the owner of the home, repayment is typically deferred until the home is sold or the homeowner moves out, and in Canada, reverse mortgages also include a no negative equity guarantee, meaning you or your estate will never owe more than the fair market value of the home at the time it is sold.

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