This is an excellent alternative to selling and moving to a Retirement home. If you know anyone that would like more information on this program feel free to have them call.
Neil"Mortgage Man" McJannet
| Tuesday, 8 March 2011
In announcing its financial results for 2010, HOMEQ Corporation and its wholly owned subsidiary HomEquity Bank revealed that it originated $206 million of reverse mortgages, an increase of 87 per cent over 2009. HomEquity’s mortgage portfolio also grew by 17 per cent to $1 billion.
“We are seeing broad market demand for reverse mortgages as the demographic wave and other macro economic factors affect retirement trends in Canada,” said HOMEQ President and CEO Steven Ranson.
The company said it expects that demand for reverse mortgages will remain firm in 2011 and aims to increase the mortgage portfolio by between 15 and 20 per cent this year.
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