Will a Reverse Mortgage Affect My Old Age Security?

Will a Reverse Mortgage Affect My Old Age Security?

 

The answer is no, because the reverse mortgage is not considered to be taxable income, it does not have any impact on your old age security.

Are you considering a reverse mortgage? Here are some of the pros and cons.

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Vlad Sherbatov

Vlad is the President and Co-Founder of Smarter Loans, Canada's original and largest loan comparison website. He is a passionate entrepreneur and business leader in the Canadian financial sector. He was selected as a 2019 Top 25 Leaders in Lending by the Canadian Lenders Association. Vlad is an author at Smarter Loans, and has been featured in publications like the Toronto Star and National Post, among others.