Your client, Frances, is 67 years of age and is finding that her pension is not providing her enough income to
enjoy her retirement. She has approached you because she has a detached home in Toronto that s
mortgage free and would like to discuss the best way to access some of the equity in her home to gieher
the money she feels she needs to have a more rewarding retirement. While taking her application you
have determined that she will not be able to afford any type of mortgage payment due to her limited
pension income, which will likely never significantly increase. Out of the following it of solutions which one
is most appropriate?
Select one:
a. Private first mortgage, interest only payments
b. Graduated payment mortgage
c. Home equity line of credit
d. Reverse mortgage
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