Unlike in the U.S., in Canada reverse mortgages are very conservative and designed to protect both the homeowner and the equity in your home. Even in a case where your home depreciates, you will never owe more on your reverse mortgage than the value of your home.
The money from your reverse mortgage can even stabilize your finances. For instance, you can use a reverse mortgage to schedule an income plan so that you receive money every month. Your reverse mortgage is also there for you in case of unexpected expenses.