"Bank of Mom and Dad" is about to go BANKRUPT!

In today’s video, Surrey Real Estate Specialist, Steve Karrasch of Macdonald Realty reviews a recent article published by Yahoo Finance, that discusses the uptick in Canadian Reverse Mortgage applications in recent years in order for older homeowners to “age in place” by keeping their home. With current interest rates rising, and high cost of living expenses due to inflation, what other options do homeowners on a fixed retirement income have?

More Canadian turning to reverse mortgages amid savings crunch: https://ca.finance.yahoo.com/news/more-canadians-reverse-mortgages-amid-savings-crunch-185842470.html?

#SurreyRealtor #SurreyRealEstate #CanadianReverseMortgages

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The opinions expressed herein are solely that of Steve Karrasch PREC and not Macdonald Realty or the FVREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement.