The simple pleasure of clipping a handful of fresh herbs to flavor a favorite dish is one that many home gardeners enjoy. Drying herbs is an excellent method to ensure that the aromatic oil in their leaves can continue to add a savory taste to your food long after your summer garden is done. The process of drying herbs is quite easy and concentrates the flavor, so they will last a long time on a pantry shelf.

While most herbs are suitable for drying, some are easier to dry than others. Herbs with a low moisture content, such as bay leaves, oregano, rosemary and thyme, dry very well. Those with thinner, larger leaves, such as basil, parsley and sage, also take well to drying but need to be dried more quickly to prevent mold from forming on the leaves.

Harvesting and Prepping Herbs

Harvest herbs before they flower, as they tend to lose some of their flavor and can even be a little bitter once they have flowered.

Pick herbs in the morning, which is when the oil content of their leaves is highest and the flavor is at its peak.

Wash the leaves if needed to remove dirt or dust, and pick off any discolored foliage. Lightly dry the herbs using a dishcloth or paper towels.

Tie herbs into bundles. For herbs with more moisture in the leaves, like basil and parsley, limit the bundles to four to six stems to allow them to dry faster. If you live in a humid climate, make the bundles smaller to promote drying.

Use rubber bands, twine, or twist ties to tie the herbs together at the base of their stems. Make sure the tie is fairly tight, as the stems will shrink as the herbs dry.

Drying the Herbs

Select an indoor location with good air circulation. Avoid any areas where the sun will shine on the herbs, as this can decrease their flavor and bleach the leaves. You have a few drying options once you have harvested and prepped your herbs.

Option 1: 

Hang the bundles upside down. You can attach them to a coat hanger, a drying rack or a ladder, or hang them from the ceiling using twine or string.

Option 2: 

Punch 10 holes in a brown paper lunch bag and place the herb bundles upside down in it — be careful not to overcrowd them. Tie the bag closed and hang it from a support as described in the previous example. This method is useful for more humid regions where herbs may take longer to dry. The bag protects the herbs from dust and will catch any stems that slip out.

Option 3: 

Place the herbs in a single layer on a screen, in the same location as for the previous options. You can place the screen on a table or up on bricks to better enable airflow, as that will allow the herbs to dry on both sides. Every two days, turn the herbs over to help promote even drying.

Option 4: 

You can oven-dry them for quick results, but this will result in slightly less flavor than if you allow them to dry naturally. Set the temperature to 100 degrees Fahrenheit and leave the oven door open. Place the herbs on a baking sheet and put into the oven, making sure to leave the door open. Turn the herbs every 10 minutes until they are they are dry, and remove.

Option 5: 

If you have a dehydrator, you can easily dry herbs in a relatively short amount of time.

If you’ve decided to dry your herbs naturally, begin checking them after a week. The length of drying time can range from as little as a few days to a month, depending on the humidity and method of drying. Once the leaves are dry and crispy, they are ready.

You can store dried herbs as whole leaves or gently crumble them into small pieces by hand before storing them in airtight containers. Place the containers out of sunlight in a cool, dry space, where peak flavor will last 6 to 12 months.

Now more than ever, Canada’s experienced homeowners are tapping into their home equity in exchange for cash, a process known as a reverse mortgage. 

Over the years, this type of mortgage loan has grown in popularity among seniors. In fact, in January 2020, reverse mortgage debt reached a new record of $4.03 billion, according to data from the Office of the Superintendent of Financial Institutions (OSFI). The choice to leverage equity instead of leaving it tied up in their property is an attractive option to an increasing number of mature homeowners.

If you’re considering converting to a reverse mortgage, you likely have a lot of questions, from eligibility requirements to receiving payments. Here’s what you need to know about reverse mortgages.

Reverse Mortgages 101

In simple terms, a reverse mortgage is a loan connected to the value of your home that allows you to convert money from the property’s equity tax-free while still maintaining ownership. Unlike a traditional mortgage which requires monthly payments, you don’t need to repay the reverse mortgage loan until you decide to move and sell, or the last borrower passes away.

In order to be eligible for a reverse mortgage, you need to be a Canadian homeowner and at least 55 years old. Your spouse must also be 55 years old if they’re on the title of the home.

A home equity line of credit is another popular form of accessing value in your home, offering between 65% to 80% of the property’s appraised value in some cases. A home equity line of credit is accessible to any homeowner without added age restrictions, but does require proof of a sufficient income and good credit. You’ll also be required to do a stress test to prove you can make payments under higher qualifying interest rates. For senior homeowners who would prefer simpler eligibility criteria, a reverse mortgage might be the best fit.

There are some misconceptions about reverse mortgages, particularly around eating into the equity of your home or the bank taking over your ownership. While more homeowners are beginning to understand reverse mortgages more clearly, it is recommended clients speak with a mortgage professional who can really explain the loan in greater detail.

Getting Started

When you’re ready to commit to a reverse mortgage, there will be an initial assessment to determine the home’s value and how much money you could be entitled to. 

You can expect to be evaluated on the appraised value of the property, plus its type and condition, your eligibility criteria and where you live. Contrary to regular mortgage applications, which take a deep-dive into your credit history and income, reverse mortgage assessments are generally less labourious. The financial institution want to make sure you have reasonable credit and at least some form of income to pay the property taxes.

The two biggest financial institutions that offer reverse mortgage plans in Canada are HomeEquity Bank and Equitable Bank, though your own banking institution may offer options too. Whichever lender you go with, you should anticipate some setup costs, including legal fees for closing or legal advice, appraisal costs and setup charges. 

You’ll still need to pay interest on the reverse mortgage loan, which tends to be higher than regular mortgages. However, you can choose to pay the interest on a monthly or yearly basis, or in full with the principal at any time. 

Cash in Hand

If you’re wondering how much you can borrow from a reverse mortgage — it varies. All of the criteria used in your mortgage assessment will determine how much cash you can expect to receive, including which mortgage lender you go with. For instance, a reverse mortgage with HomeEquity Bank’s Canadian Home Income Plan (CHIP) could let you borrow up to 55% of the home’s value, while Equitable Bank might let you take up to 40%. 

When it comes to receiving your money, you might have some flexibility. Some homeowners choose to receive monthly payments, while others opt to take out a lump sum. 

Whatever you choose to use the money for is up to you. Some people decide to give their money to their children to cover tuition costs or wedding expenses, while others use it in everyday spending. 

This Isn’t Working Out

A reverse mortgage isn’t a forever-commitment. If a reverse mortgage isn’t right for you or you need to break the agreement it is possible to get out of it, just with a few conditions.  

As with any mortgage contract, there are penalties for breaking a reverse mortgage in the middle of a term. How severe the penalty would be varies widely, depending on how long you’ve participated in the mortgage and the reason why you’re breaking it. 

If you sell your home, you’ll be required to repay the amount left on the loan. This also applies when the last borrower dies, in which case, the estate would need to pay off the reverse mortgage. 

Reverse mortgages are letting more seniors reap the benefits of equity in their home but, like all mortgage products, it’s crucial to understand what you’re getting before you sign on the dotted line.