Plans to reduce loan and credit card debt is often at the top of the list for Ontario citizens that are starting to plan for retirement. One option to consider for retirement income is a reverse mortgage, and when connecting with the leading mortgage company in Canada, it is possible to do so in a way that will be rewarding.

Draw As Much As 55% from the Equity of Your Home

A reverse mortgage can free up funds to reduce loan and credit card debt and create a way to supplement income during retirement. For those that may be unfamiliar with the concept behind a reverse mortgage product, it is the opposite of a mortgage; that is, instead of making payments to the lender, the lender makes payments to the homeowner. Reverse mortgages allow homeowners to draw from as much as 55% from the equity in their property and options include being able to receive a large one-time payment, or to receive monthly installments.

No Income or Credit Verification Process Required, And No Stress Test Needed

Other advantages of considering making a reverse mortgage part of an overall retirement plan are that it will eliminate monthly mortgage payments, and they are relatively easy to arrange considering there is no income or credit verification process, no mortgage stress test and the paperwork involved is nowhere near as overwhelming as it can be with a traditional mortgage.

It’s Important To Connect With A Top Mortgage Professional

When people want to be sure they are getting the very best reverse mortgage product, and a thorough understanding of how it works it is important to connect with a top mortgage professional. After discussing the details of retirement plans and the current financial situation, they can make suitable recommendations, and then will be able to explain how the process works from start to finish.

If reducing loan and credit card debt is on the list of goals to achieve before retirement, saving money and finding creative ways to boost income will most certainly be on that list as well. Shop2Save is an innovative discount-shopping platform that can help with all of these goals both now and well into the retirement years. Shop2Save is a membership-based program that harnesses the power of the crowd to leverage the very best discounts for its members.

An Unrivalled Loyalty Program with 45% Real Cashback Reward Dollars

Further, Shop2Save offers an unrivalled loyalty program. Not only is it possible to earn real cashback rewards dollars on purchases made online (45%) but when members connect with top professionals through the site for big-ticket products and services like real estate, home insurance, auto insurance and mortgage products they are further rewarded!

Shop2Save membership is free and easy to join. After all, the more members there are, the bigger the discounts that can be provided!

Visit Shop2Save today to see how it is possible to earn rewards on a reverse mortgage to help reduce loan and credit card debt in Ontario today!