Equitable Bank Reverse Mortgages Now Available in Quebec

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[{"type":"text","content":"\n\n\n\nEquitable Bank Reverse Mortgages Now Available in Quebec\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, May 27, 2019\n\n\n\nMONTREAL, May 27, 2019 /CNW/ - Equitable Bank (\"Canada's Challenger Bank™\"), the wholly owned subsidiary of Equitable Group Inc. (TSX: EQB and EQB.PR.C) today announced the launch of the Equitable Bank Reverse Mortgage in Quebec. \nToday's launch means consumers aged 55+ in four provinces (Quebec, Alberta, British Columbia and Ontario) can now access a significant portion of the equity in their homes to fund their desired lifestyles in, or approaching, retirement. \n\"Many banks, Equitable included, offer services that help Quebecers build their wealth, but surprisingly few do what we have done: design a product that efficiently unlocks home equity for those in the asset decumulation stage of life,\" said Natalie Cormier, Regional Director Quebec, Equitable Bank. \"With the Equitable Bank Reverse Mortgage, achieving and maintaining financial independence while aging in place is now a possibility even for those who have faced challenges in accumulating or maintaining sufficient savings.\"\nThe need for the Equitable Bank Reverse Mortgage is clear: only six per cent of Canadians feel financially well-positioned to tackle retirement and 43% have saved less than $100,000, according to Mintel's 2018 Retirement Planning Report. Moreover, 17 per cent of non-retired Canadians plan to use home equity to help fund their retirement. By 2030, government projections suggest Canadian seniors will number over 9.5 million and make up 23 per cent of the population. Through its reverse mortgage product, and broad savings options, Equitable Bank has made it a priority to address the needs of this important and growing demographic.   \n\"In the past, seniors living on a fixed income or those looking simply for additional cash flow had limited options. At Equitable Bank, we're out to change that,\" said Paul von Martels, Vice President of Prime and Reverse Mortgage Lending. \"Evolving demographic and socioeco...

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