For many homeowners 55+, the goal is no longer downsizing, but aging in place + MORE Jul 23rd

For most Canadians, a mortgage is simply a fact of life. You buy a home, make your monthly payments, and hope to have it paid off by the time you retire. It’s the advice many of us grew up with: work hard, eliminate debt, and then start enjoying financial freedom.

But what if there was a way to make your mortgage work harder for you while you’re paying it down? That’s the idea behind the Smith Manoeuvre, a strategy that helps homeowners use their home equity to potentially build investments and improve tax efficiency at the same time.

Looking at debt differently

For many people, debt is something to avoid at all costs. And when it comes to high-interest consumer debt, that’s generally good advice. But not all debt is created equal.

Some debt is used to buy things that lose value over time, like vehicles, vacations, or consumer purchases. Other debt can be used to acquire assets that have the potential to generate income and grow in value.

The Smith Manoeuvre is built on this distinction…

Here’s how mortgage brokers can support their needs.

The OSC says roughly 30 Ontario investors provided funds to Altmore Mortgage Investment Corporation believing the money would be invested in mortgages and other real estate-secured loans.