Reverse Mortgages Help First Time Home Buyers
  
Are you a Canadian 55+ trying to help your family with a down payment on their first home? It is more difficult now than ever to afford a home because of rising home prices – which means your family could benefit from help now instead of waiting for an inheritance.
Reverse Mortgages allow home owners with no mortgages and equity in their homes to take out some of that equity and provide it to family members, who can use it as a downpayment for their own home purchase. Rather than wait till mom and dad pass away a reverse mortgage can be used now, there are no monthly payments to the parents and no income tax is payable on the money taken from the home.
If the downpayment is 20% or greater that can also help the children avoid High Ratio Mortgage Insurance. Feel free to call me so we can talk about whether a Reverse Mortgage can be used to generate a "WARM INHERITANCE" that can benefit family members. And as a bonus, you get to see their new house before you go!
Book of the Month - Uncle Tom's Cabin
Every month I will be featuring a book I've read. This month's feature is another classic published by Reader's Digest, Uncle Tom's Cabin.
This book, written by Harriet Beecher Stowe and published in 1852, vividly dramatized slavery in the US South and gained popularity amoung readers in the North.
Abraham Lincoln is reported to have said that this book was a catalyst to the Civil War.
Wild, Wonky, Wiebe Words
Correctly decipher this month's riddle and win bragging rights among your family and friends! Contest expires July 31, 2022. Phone 778-808-9911 with your answer.
Last month's riddle was "Wattle the hire eights due tomb eye Anne you'll Bud jet?"
And the correct answer was "What'll the higher rates do to my annual budget?"
Tip: Have someone read the clue to you while your eyes are closed.
This month's Riddle: Calm mints on rove Ursa sway drooling?
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