Lotus Income

Lotus Income Want extra retirement income? LotusIncome.com is Canada's trusted, independent provider of equity release (reverse mortgage) products and information.

Good news for Toronto homeowners: of the 30 suburbs tracked by TRREB, 10 showed detached home prices up by over 20% last...
10/15/2020

Good news for Toronto homeowners: of the 30 suburbs tracked by TRREB, 10 showed detached home prices up by over 20% last month compared to Sept. 2019.

September was another banner month for the Toronto region’s housing market and no property type was hotter than detached homes in the suburban areas surrounding the city.

Several bank analysts say mortgage rates will go even lower, because of (1) competition among lenders, (2) seasonal fact...
09/29/2020

Several bank analysts say mortgage rates will go even lower, because of (1) competition among lenders, (2) seasonal factors, and (3) the pandemic’s impact on the economy.

Not by much, but yes, several analysts say

Despite the huge growth of reverse mortgages in Canada, the growth has actually slowed during the pandemic, having peake...
09/17/2020

Despite the huge growth of reverse mortgages in Canada, the growth has actually slowed during the pandemic, having peaked at 57.46% in October 2018 and sliding ever since.

Canadian homeowners in their twilight years are drawing on their home equity at a rapid pace. Office of the Superintendent of Financial Institutions (OSFI) filings show reverse mortgage debt reached a new record high in July. The debt is still showing double digit growth, but the rate has fallen to....

Average prices of homes in Ottawa continuing to rise. Granted, Ottawa's population is peerless when it comes to permanen...
09/08/2020

Average prices of homes in Ottawa continuing to rise. Granted, Ottawa's population is peerless when it comes to permanent jobs and pensioners.

Ottawa's real estate market remains red hot despite economic uncertainty caused by the COVID-19 pandemic.

3 reasons not to retire on CPP/OAS alone: 1) It's not enough money if you live in a major city; 2) Most people qualify o...
08/24/2020

3 reasons not to retire on CPP/OAS alone: 1) It's not enough money if you live in a major city; 2) Most people qualify only after age 65; and 3) Government whims can affect the programs.

Don’t depend on your CPP and OAS payments alone. A lot can change by the time you retire. Spread your bets and secure your finances with dividend stocks like TD Bank (TSX:TD)(NYSE:TD).

Survey cited by Globe and Mail reveals that 33% of working Canadians plan to postpone retirement due to reductions in sa...
08/17/2020

Survey cited by Globe and Mail reveals that 33% of working Canadians plan to postpone retirement due to reductions in savings, loss of investment values, and a need for more retirement savings to generate income.

A lot of people are financially supporting adult children. This financial help could limit the ability to save for retirement, or put an additional demand on existing savings

Average price of a home in London / St. Thomas up 19.6% to $484,884 - more than ever first-time home buyers need early i...
08/11/2020

Average price of a home in London / St. Thomas up 19.6% to $484,884 - more than ever first-time home buyers need early inheritances for downpayments.

The average price of a home in the region has climbed nearly 20 per cent since this time last year, according to the London and St. Thomas Association of Realtors.

Most people who come to us for reverse mortgages simply wish to pay out their existing mortgage(s) so they no longer hav...
08/04/2020

Most people who come to us for reverse mortgages simply wish to pay out their existing mortgage(s) so they no longer have to make payments every month, and can free up their monthly budget.

As government assistance and lender deferral programs come to a close, borrowers are looking for solutions

Home prices in Windsor up 19% from a year ago. Average home price is now $401,465, up $65,422 from summer 2019.
07/27/2020

Home prices in Windsor up 19% from a year ago. Average home price is now $401,465, up $65,422 from summer 2019.

Windsor-Essex's real estate market is red hot, according to Windsor real estate agent Aditya Soma. He attributes part of the price increase to the growing demand of buyers from outside the region who can work from home and no longer find it necessary to live in a big city as a result.

Sudbury has very robust seller’s market conditions despite COVID-19, and considerably more robust than pre-COVID in last...
07/22/2020

Sudbury has very robust seller’s market conditions despite COVID-19, and considerably more robust than pre-COVID in last June 2019 -

Despite the pandemic, Sudbury is a seller’s market, according to brokerage firm Zoocasa.Citing Canadian Real Estate Association statistics, Zoocasa said both the average price of a home in Su…

Many on the cusp of retirement have layoff risk top of mind. Regardless, the risks and rewards of early retirement are ...
07/06/2020

Many on the cusp of retirement have layoff risk top of mind. Regardless, the risks and rewards of early retirement are easier to navigate if confronted early - you'll have more time to prepare and adapt.

To get to his income goal of $50,000 after tax, Walter will have to work until at least 65

Good news for people with adult children (or grandchildren) purchasing homes in the near future: the new minimum qualify...
02/19/2020

Good news for people with adult children (or grandchildren) purchasing homes in the near future: the new minimum qualifying mortgage rate (stress test) will be less stringent on mortgage borrowers.

The federal government is changing the stress test rate for insured mortgages starting April 6 that experts say should make it marginally easier for some buyers to purchase their first home, or owners refinancing their existing mortgages.

Address

2301 Queen Street E
Toronto, ON
M4E1G7

Opening Hours

Monday 8am - 8pm
Tuesday 8am - 8pm
Wednesday 8am - 8pm
Thursday 8am - 8pm
Friday 8am - 8pm
Saturday 8am - 11am

Telephone

+18882280082

Website

Alerts

Be the first to know and let us send you an email when Lotus Income posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Lotus Income:

Shortcuts

Share

Category