Is a reverse mortgage right for you? An honest look

Anita Groves • September 4, 2026

Reverse mortgages get talked about a lot, and not always accurately. Some people treat them as a miracle, others as something to fear. The truth sits in the middle. For the right person a reverse mortgage is a genuinely useful tool, and for someone else there is a better option. Here is the straight version.

What a reverse mortgage actually is

If you are 55 or older, a reverse mortgage lets you borrow against the equity in your home and receive the money tax free, without making any monthly payments. You keep owning your home and living in it. The loan and the interest are paid back later, usually when the home is sold or the owners move or pass away. That is the whole idea in plain terms.

What people get wrong

The two biggest myths I hear are that the bank takes your house, and that your family gets stuck with the bill. Neither is true. You keep the title to your home. And these loans are set up so the amount owed does not pass on to your family beyond the value of the home. What is true, and worth understanding, is that because you make no payments, the balance grows over time as interest adds up.

The honest tradeoff

That growing balance is the real tradeoff. Because it is not being paid down, there is less equity left in the home later, which can mean less to pass on. For some people that is completely fine, they would rather use the money now and enjoy it or help their family while they can see it. For others it matters a great deal. There is no right answer, only what fits you.

It is not your only option

A reverse mortgage is not the only way to use your home's equity. A regular refinance or a line of credit can cost less if you are able to make payments. Sometimes downsizing serves you better. Any broker worth their salt will show you all of these, not just the one.

Get the full picture

If you are curious what your equity could do for you, I am happy to lay out the choices honestly, with no pressure and no sales pitch, so you can decide what is right.

Wondering if a reverse mortgage fits your plans? Let's look at all your options together.

Reverse Mortgages & Equity Lending

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Anita Groves

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Need Funds Between Buying and Selling? Here’s How Deposit Loans & Bridge Financing Help

By Anita Groves • October 14, 2026

You’ve outgrown your current home. It no longer fits your life, so moving makes sense. And you’re not interested in juggling two properties. Selling first and buying something new feels like the right move. Ideally, you want possession of the new home before leaving the old one. That overlap makes moving easier, reduces stress, and gives you time to paint, renovate, or settle in before the boxes arrive. But there’s a common challenge. What if the down payment for your next home is tied up in the equity of the one you’re selling? That’s where bridge financing comes in. How bridge financing works Bridge financing temporarily unlocks equity from your current home once it has a firm sale . It bridges the gap between selling your existing property and purchasing your next one, allowing you to use that equity toward your down payment. What about competitive markets? In a hot market, a strong offer often means a larger deposit . If you don’t have that cash sitting in your account, but you do have equity, a deposit loan can help you compete with confidence. The non-negotiable requirement To qualify for bridge financing or a deposit loan, your current home must have a firm, unconditional sale . No firm sale = no bridge or deposit loan. Lenders need certainty to calculate available equity and manage risk. Bottom line A firm sale is the key that unlocks bridge financing and deposit loans. If you’re planning a move and want to understand how these options could work for you, let’s talk. I’m always happy to walk you through your options and help you plan your next step with confidence.

How to Qualify for a Mortgage After Bankruptcy in Canada

By Anita Groves • October 7, 2026

Financial setbacks happen. Bankruptcies and consumer proposals are more common than most people realize—and they don’t define your future. Going through one doesn’t mean homeownership is off the table forever. It simply means lenders want to see that you’ve taken control, learned from the past, and built a stronger financial foundation moving forward. What lenders look at after a bankruptcy or consumer proposal How long it’s been since your discharge Your discharge date matters. For lenders, this is your reset point. There’s no law that says you must wait a specific amount of time before applying for a mortgage, but the longer your track record after discharge, the stronger your application becomes. What matters most is how responsibly you’ve managed your finances since then. Your credit rebuild Re-establishing credit is critical. After discharge, most people start with a secured credit card and use it consistently and responsibly. To be considered fully re-established, lenders typically want to see: Two active trade lines At least two years of clean payment history Credit limits of around $2,500 on each No late or missed payments Your down payment or equity The more money you can put down—or the more equity you have when refinancing—the lower the risk for the lender. A stronger down payment often opens the door to better terms and more lender options. Your debt service ratios Lenders will also look closely at how much of your income goes toward housing and other debts. The stronger your income relative to your monthly obligations, the easier it is to qualify. Conventional vs. insured mortgage options To access the most competitive mortgage products, lenders typically want to see: At least two years plus one day since discharge Fully re-established credit Minimum down payment requirements met Mortgage insurance in place if your down payment is under 20% (through CMHC, Sagen, or Canada Guaranty) Total debt obligations generally not exceeding 44% of your gross income Alternative lending options Not every situation fits neatly into a bank’s box—and that’s where alternative lending can help. Independent mortgage professionals work with both traditional and alternative lenders, including those who specialize in complex financial situations. These lenders look at the full picture: equity, income stability, and your plan moving forward. While rates and terms may not be as competitive as prime lending, alternative financing can be an effective short-term solution—especially if you need a mortgage before your credit is fully rebuilt. Let’s talk about your next step Whether you’re planning ahead for the best possible mortgage—or need a solution sooner rather than later—there are options available. If you’d like help mapping out a clear path forward, reach out anytime. I’d be happy to review your situation and help you build a plan that gets you back into homeownership with confidence.