Worrying about mortgage burdens late in life is becoming a national pastime. With Canada's oppressive cost of living and tax burdens, plus poor savings habits, homeowners increasingly fear their mortgage will outlast them.
While such realities may keep people in debt longer and boost industry mortgage volumes, it’s hardly the ideal societal outcome.
Earlier this year, Healthcare of Ontario Pension Plan (HOOPP) conducted a survey that revealed intriguing trends about late-in-life mortgages. Here's what they found, along with specific ways that mortgage advisors can turn these trends into a business model.
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