by Geraldine Santiago
Are you a Senior citizen wanting to some cash for personal use? If you own your principal residence outright and you are older than sixty-two years old, you may want to look at obtaining a "REVERSE MORTGAGE".
A reverse mortgage allows a home owner to take out a loan against the home and convert some of the equity of the accumulated net value of the home into cash or a stream of income payments while still retaining ownership and possession of the home.
The money you receive will be tax free, no payments will be required until you move or sell your home, you still have control of your home and ownership of your home, and your estate is protected.
You can obtain regular payments over a set period of time. To find out more information about obtaining a reverse mortgage, contact Alma Pasic by going on to www.bcmortgage.ca
Is This the Year to Buy Your First RECREATIONAL HOME?
by Geraldine Santiago
Author, Realtor: www.vancouverhomes.info
Is this the year to buy your dream home you’ve been thinking of all these years? Since 2000 recreational property sales across Canada have increased and trends are showing that this will continue for some time. It is STILL a great time to borrow and buy now. Interest rates are still relatively low.
As with first time home buyers, first time recreational home buyers also have to do their homework carefully. Compared to purchasing in the city or suburbs, it is even more crucial to choose a REALTOR in the local area who lives and works in the area you are considering to purchase. There are a lot of unique characteristics specific only to certain geographic areas, provinces and municipalities.
If you are buying recreational property, you have to learn about the larger market conditions that could affect your purchase. Equally important are land and water regulations that pertain to fisheries, oceans, wildlife, forests and the environment. Your local REALTOR is knowledgeable and skilled in these areas. Don’t choose a REALTOR without experience or knowledge of the area. A REALTOR in the city cannot claim to know about recreational property purchase unless they also live and have a recreational property of their own in the area.
My book, “Buy and Sell a Recreational Property in Canada” Self-Counsel Press Ltd. provides basic information for buyers and sellers of recreational homes in the hope that your recreational home purchase or sale will be a satisfying and rewarding experience.
