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Thursday, October 30, 2014

Retirees' options for accessing home equity

I've come across a very good article at Caregivers Solutions Magazine (one of my very favourite Canadian publications), written by the Professional Chartered Accountants of Ontario, that talks about two ways that seniors can get cash flow based on the equity they own in their homes. Click here to read it. If you're wondering about reverse mortgages or lines of credit, check out this article for some answers.

My additional suggestion is that if you decide to take one of the steps described in this article, make sure you understand the impact it may have on your estate, particularly if you are thinking of leaving your home to someone.

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