Mortgages for Senior Citizens
Financing for 55+
Financing for Seniors can be a very delicate situation. You have to consider the retirement income, the tax-sheltered investments, the Income Tax consequences and the affordability of the mortgage with present income and the possibility or lower retirement income.
Suffice to say, the most important is to work with a trusted advisor who would spend the time to understand your current circumstances, your financial goal, your resources, in order to give proper advice.
One of the popular solutions is Reverse Mortgage. But this may not be for everyone.