The reverse home mortgage is something that has traditionally been unique to the American market. However, there are several other places throughout the world that are increasingly using the reverse mortgage to assist their growing senior population in being able to afford life after retirement. One of the leaders in international reverse mortgage loans has long been India but Canada could soon start giving that country a run for its money.
Canadian reverse mortgage loans require that the borrower be age sixty or over. The population of Canadians that falls into this category is expected to double in the next twenty five years. As it does, more and more people are going to be interested in the reverse mortgage loan as a viable option for enhancing their income stream. In planning for this, several new reverse mortgage lenders are beginning to crop up in the country.
Learn more about the Canadian reverse mortgage industry here.
Question of the Day: What other countries would you expect to have a big reverse mortgage market growth in the next twenty five years?
