Benjamin Moore Painting Seminar - February 24th
  
This month, Saturday, February 24th from 6pm until 8pm, we are hosting a Painting Event.
If you want to learn a little about how to use a roller and brush, the different types of brushes and rollers on the market. The types of paint, V02, paints, etc. Then this is the event for you!
We can only have 20 people, so sign up fast if you want to attend.
Register to attend by signing up with Eventbrite:
Benjamin Moore Event
Christmas Client Event
We had a really great time at the client event that we hosted on the Saturday before Christmas. The Barista was a big hit, her latte art was truly creative.
I had over 60 pies, a mixture of cranberry/blueberry and apple/cinnamon pies, one for everyone that attended. I've talked to a few of you since the event and understand that the pies were delicious.
I had saved one of each pie for our family and i have to admit that the apple was my favorite. Although,the Cranberry Blueberry pie was delicious with vanilla ice-cream. The ice-cream melted a little against the pie and created a nice blueberry ice-cream blend. My mouth is watering as i write this.
I wanted to thank everyone who could attend and everyone who wanted to attend but had another commitment. Next year will definitely be bigger!
Reverse Mortgages - Is this a good deal?
As our population ages and mortgage rules are tightening I have noticed a substantial increase in clients asking about and considering a reverse mortgage as an option for financing.
It's really important to review all your options before setting one of these up. They can be very beneficial for the right client, but other options may be better initially. As a broker I can help with regular mortgages, lines of credit and reverse mortgages, therefore, I can show you the advantages and dis-advantages of each.
The reverse mortgage is really designed for a home owner who is 55 years or older. The amount of money you will get from a reverse mortgage is directly dependent on your age and the value of your home.
The younger you are, the less equity you will have access to and therefore the older you are the more equity you will have access to. The maximum equity is calculated at 55% of your home's value at age 78.
For example, If you are 78 years old and own a home worth $500k with no mortgage, then you could set up a reverse mortgage for $275,000 (55% of $500k). You have a couple of options with this. You could choose to take this as a 1 lump sum payment of $275,000 and use the money to pay off debt, or go an a holiday, or renovate your home, or invest the money to increase your income.
Another option you could choose with the reverse mortgage is monthly payments. You could choose to receive $2,300/month for the next 10 years to supplement your pension income. A third option could be a combination of lump sum payment and monthly income.
Once you set up the reverse mortgage you don't have to make any payments back to the bank but you can if you wish. As your home increases in value, you can ask the bank to increase the amount of the reverse mortgage available to you. Your home is always in your name, the bank registers a mortgage (reverse mortgage) on title and when you sell your home, the bank gets paid and you receive the balance of the equity, just like any other mortgage.
If you or a family member is considering a reverse mortgage, or want to know more about how they work, I'm happy to review the options with you.
I believe that it's best to make these decisions with all the facts. Give me a call or email and we can schedule a time to review.
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