Canada Reverse Mortgage- Privacy Policy

We respect your privacy and adhere to the Federal Privacy Laws of Canada.

When you submit an application online

You will note that we have a very limited application form. We do this on purpose to respect your privacy by limiting the information we receive about you. Only the most limited information is requested on our forms. It is only meant for us to review your situation before contacting you personally. We need to know how to contact you and what your basic Canada reverse mortgage request is before we contact you. We do keep your basic information so we can place you on our email newsletter that will keep you up to-date on 'Elder Issues' that seniors may face on an ongoing basis.

When we contact you

We are mortgage brokers first and foremost. We pride ourselves for giving the right advice on all situations. It is important to us that we give you the mortgage that you need and want. After we receive your application request or question we will either email you or phone you directly. A reverse mortgage may or may not be the right fit for you. We will ensure that when a reverse mortgage is the right product that we will make it the right fit. We will tell you how a reverse mortgage works anywhere in Canada. Reverse mortgages are best for those seniors on fixed incomes who wish to increase their income or cashflow by either creating additional income or paying off other debt obligations. It is not really suited for 'high rollers',. people with high incomes who are trying to take out equity to wheel and deal investments. A line of credit would be a better mortgage product for those people. For most seniors a Canada reverse mortgage is a perfect fit.

When we speak to you we will ask for your 'postal code' which allows us to figure out 'house values' in your area, we will confirm that your age is at least 60 years of age, and we will ask you what you feel your house is worth and so on. The friendly discussion is to see whether or not a Canada reverse mortgage product is well suited to you. If it is then we arrange for a reverse mortgage package to be sent to you from a Canada reverse mortgage lender.

If we feel that a different mortgage product would be better suited for you in your own unique situation then we, as mortgage brokers, will tell you which other mortgage products would work in your situation. Regardless you can be assured that you will get the right advice always. If you choose not to do anything then your file is closed, and our notes of our discussion and any other client information is destroyed permanently.

After we arrange a Canada reverse mortgage for you

If you wish to proceed in either obtaining an information package that will give you a detailed quote then we will have a representative of the Reverse mortgage lender to contact you and arrange a meeting with you. Either the lender or us will arrange for an appraisal for you. When we agree to arrange for your Canada reverse mortgage financing we promise to take only the information required to satisfy the needs of the mortgage lender to obtain your approval. Once your Canada reverse mortgage is funded then we promise to reduce our information on you - to actually shred unneeded information - to the most basic amount that is required to satisfy the Registrar of Mortgage Brokers regulations. Any excess information that is not necessary for regulatory compliance will be shredded and destroyed. We will keep only your basic information so we can place you on our email newsletter and to service your Canada mortgage, if applicable.

Servicing your Canada Mortgage or Canada reverse mortgage

The nature of a mortgage is that there comes a point in time when your Canada mortgage matures or your term expires. Or sometimes rates change that may effect you or your desire to remain in your current Canada mortgage agreement. We reserve the right to contact you to advise you of your maturity options, changes in the marketplace, or any other Canada mortgage product specials that may be of interest to you. Further, if are at an age & circumstance where you are still eligible for insurance and you can 'insure' your Canada mortgage with insurance products such as critical illness, life and disability we will keep your information on file so that we can keep you informed on any changes in the financial services marketplace that may effect or be if interest you. If you do not wish your information kept, except where required by regulatory authorities, then just contact us to discuss your wishes.

We would be happy to honour any privacy request that you give us.

Making the Decision - History of Reverse Mortgages - How to use the Money

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