Reverse Mortgage - Kora Management
  • Mitch Speigel – Mortgage Agent
    Your Mortgage Group Professional
    Kora Management
    License #M08003984, FSCO #10315

  • What is a Reverse Mortgage?

    A reverse mortgage is a loan that is designed for homeowners 55 years of age and older. A reverse mortgage is secured by the equity in the home, which is the difference between the value of your home and the unpaid balance of any current mortgage. It allows homeowners to obtain cash without having to sell their home.

  • Reverse Mortgages in Canada

    Kora Management is part of The Mortgage Group, a licensed mortgage originator comprised of a large team of highly trained mortgage professionals. Their employees have developed an extensive knowledge of the Canadian Mortgage Market based on our exposure to it for the past 20 years.

    We are proud to represent quality products like A CHIP Reverse Mortgage, which is a Canadian financial solution that benefits Canadian homeowners. The CHIP Home Income Plan, now called a CHIP Reverse Mortgage, has been available to Canadian homeowners since 1986 and is provided by Home Equity Bank, a Schedule 1 Canadian Bank.

    Despite the fact that reverse mortgages have been around since 1986, many do not know these key benefits:

    • the bank DOES NOT own your home,
    • credit score and income verification is NOT required,
    • no monthly payments are required as long as you own the home!
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