A reverse mortgage is a special type of home loan designed for Canadian homeowners aged 55 and older. It allows you to turn a portion of your home equity into tax-free cash, all while staying in your home and without making monthly mortgage payments. In Ontario, reverse mortgages are regulated by federal lending rules and are offered mainly through HomeEquity Bank (CHIP Reverse Mortgage) and Equitable Bank (EQB Reverse Mortgage). What Is a Reverse Mortgage? A reverse mortgage
