Seniors aged 70+ carrying more debt than ever before
HomeEquity Bank teams with Equifax Canada to study Debt in Retirement TORONTO, Sept. 10, 2015 /CNW/ - Mortgage debt among seniors is increasing right across Canada, and for those aged 70+ it has increased 12% compared to 2013. That's according to the results of a Debt in Retirement study conducted by HomeEquity Bank and Equifax Canada. The study was conducted in July, 2015 and focused on Canadians aged 55 and older. It analyzed the main categories of debt including: mortgages, lines of credit, bank loans, car loans,
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HomeEquity Bank Reports Record Originations Growth
TORONTO, Aug. 4, 2015 /CNW/ - HomeEquity Bank announced record $41MM in reverse mortgage origination in the month of July. July marks yet another month of record YOY growth for the reverse mortgage company established in 1986. July YTD originations of reverse mortgages by HomeEquity Bank grew by 21% YOY. The strong YOY growth can be attributed to an increase in consumer direct business as well as continued growth through referral partners including banks and mortgage brokers. "With the current demographic trends and exten
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Learn to recognize the signs of Elder Abuse
TORONTO, March 18, 2015 /CNW/ - Elder abuse is on the rise in Canada and professionals dealing with seniors on a regular basis should be vigilant and watch for signs of mistreatment. That, according to Yvonne Ziomecki, SVP, HomeEquity Bank – the only Canadian bank working exclusively with seniors – is the only way to combat this serious issue. From doctors and dentists to bankers and lawyers, all professionals interacting with seniors can play an important role in helping to report suspected incidents of elder abus
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Gifting with ‘warm hands’ one way parents help children financially
HomeEquity Bank notes rising trend during Holiday Season TORONTO, Dec. 15, 2014 /CNW/ - With the holiday season fast approaching some may find it more special than ever, as aging Canadians embrace the concept of 'giving with warm hands'. That's according to HomeEquity Bank, which states that almost 5% of clients aged 55 and over arrange reverse mortgages as a way to gift money to their adult children. "What we hear from some of our clients is that they want to see their loved ones enjoying the results of their hard
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10 Facts That Will Make You Change Your Mind on Reverse Mortgages
HomeEquity Bank sets the record straight TORONTO, Nov. 24, 2014 /CNW/ - There's a lack of information around reverse mortgages, and as more seniors look to this type of financing to help their adult children as well as finance their retirement - it's time to set the record straight on some misconceptions. That's according to HomeEquity Bank, a Schedule 1 Canadian Bank offering the CHIP (www.chip.ca) reverse mortgage. Here, below, are the bank's 'Top 10 Facts That Will Make You Change Your Mind on Reverse Mortgages': 1) O
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