By Joyce Wayne
When renowned journalist and author Peter Mansbridge sat down to interview HomeEquity Bank’s Executive Vice President Yvonne Ziomecki in the “Peter Mansbridge In Conversation” video series, Mansbridge was quick to remark that they were both authors.
About Home Run: The Reverse Mortgage Advantage
This year Ziomecki, with co-author Steven Ranson, President and CEO of HomeEquity Bank, wrote and published a book. Home Run: The Reverse Mortgage Advantage is a carefully-researched, fact-driven, straightforward guide to reverse mortgages. It’s an approachable book, easy to read, yet filled with the critical information you need to consider if you’re curious about or contemplating a reverse mortgage. Filled with charts and pictures, the book is a pleasure to read and a comprehensive guide to navigating retirement.
How Home Run helps Canadian retirees to age in place?
Ziomecki has worked at HomeEquity Bank for eight years, expertly raising the profile of the company. She has helped to make reverse mortgages a trusted option for older Canadians and their families. She’s deeply committed to how a CHIP Reverse Mortgage can make life more prosperous, safer and more enjoyable for Canadians 55 years and older. She describes writing her book as an act of love. Home Run offers expert advice and reliable information to those looking for a secure, comfortable and gratifying way to age in place.
Ziomecki says, “In Home Run, I wrote about the real estate market in Canada, and the options home ownership delivers to those in retirement.” Ziomecki arrived in Canada –on her own– at 18 years old. An immigrant to Canada, she is especially appreciative of the options that home ownership offers retired Canadians. More than ever before, home ownership is the solution to building a long, secure retirement.
During the pandemic, the value of our homes continues to rise. If you’re house rich and cash poor, the path to a good retirement could reside with existing homeowners. The value of properties Canadians purchased decades, or even within the last years, have dramatically increased. This October was another record-setting month for Toronto and the GTA as average home year-over-year prices surged to $1.2 million, up more than 19 percent and similarly up 17 percent in the 905 areas outside Toronto. Other regions of the country have seen similar increases.
Today 93 percent of Canadian residents over the age of 65 intend to remain in their own homes for as long as possible, according to a September 2021 research poll conducted by Ipsos. And why shouldn’t we? As Dr. Samir Sinha, director of Health Policy Research and co-chair of Ryerson’s National Institute on Ageing, says, “The pandemic has created an opportunity to re-think a number of different approaches to ageing.”
One central approach is figuring out how to remain in our own homes as we age rather than renting small apartments or moving to long-term care or retirement facilities. These days space matters. Dr. Sinha explains, “Older Canadians are thinking: I don’t want to be one of those statistics on the news.”
In Home Run, Ziomecki discusses strategies for talking openly to family about finances, a crucial aspect of successful aging. Also included in the book are HomeEquity Bank’s client narratives describing how the CHIP Reverse Mortgage changed their lives for the better. The client stories are particularly revealing for their forthright honesty and as windows into the lives of retirees.
When Peter Mansbridge asks Ziomecki about how vulnerable people are feeling today during the pandemic, she replies by saying: “Our product empowers people. When you feel marginalized, having options gives you power and choice in your life.” And isn’t that what everyone wants?
To watch the “Peter Mansbridge In Conversation” video series with Yvonne Ziomecki please visit the Facebook page.
To learn more about the CHIP Reverse Mortgage and find out how much of your home’s equity you can borrow to live the retirement you’ve always dreamed of, call 1-866-522-2447.