House rich, cash poor: When a reverse mortgage might make sense

Fairly or not, that reputation has instilled some wariness in Canada, where regulations have long been more stringent than they were during the industry’s early days south of the border. Nowadays, some experts say they’re an option worth considering for older Canadians who are house rich, cash poor and well aware of the pros and cons.

“It could be a beneficial tool for certain people, but not for others,” says Barbara Knoblach, an Edmonton-based financial planner at Money Coaches Canada.