What Happens to My Home If I Take a Reverse Mortgage?
If you take a reverse mortgage in Canada, you remain the owner of your home. The loan is repaid only when you sell, move, or pass away, as long as property taxes and insurance are maintained.
“Will I lose my home if I take a reverse mortgage?”
The answer is no.
In Canada, reverse mortgages are structured so homeowners retain ownership.
You continue living in your home.
You maintain responsibility for property taxes and insurance.
The loan balance increases over time due to interest accumulation.
The lender cannot force you to leave as long as obligations are met.
This structure makes reverse mortgages appealing for homeowners who want liquidity but value stability.
For Vancouver homeowners, where real estate represents significant wealth, maintaining ownership while accessing capital can provide meaningful flexibility.
Martine Perron provides detailed explanations before any commitment is made.