Mortgagenomics Canada

Wouldn't it be great if there was a mortgage that didn't require an income to qualify for it? And better yet, absolutely no obligation to make a single payment on the principal debt throughout the life of the mortgage?  Well there is! It's called a Reverse Mortgage.  Whether you're a fan of them or not, these mortgages are becoming increasingly popular every year and its likely to continue on the same trajectory as the baby boomer generation (1946-1965) continues to gracefully age.What is a Reverse Mortgage?A reverse mortgage is specifically designed for those that are 55 and above and the main feature of product is that the main qualification criteria is your age (rather than your income). And the other main feature is that there is absolutely no obligation to make a payment on the mortgage.Here are the key qualification criteria for Reverse Mortgages:must be at least 55 years of agemust remain in Canada for at least 6 months plus a day, each yearthe property that