Do you have the funds to live in retirement that you've been dreaming of? If you're like many Canadians you may find yourself house rich but short on funds for everyday expenses, or the travel you've always wanted. The good news is that if you're a homeowner 55 plus there's a solution to help you live the life you've always imagined.
You can access up to 55 % of your home's value with the CHIP Reverse Mortgage from Home Equity Bank You retain 100% ownership of your home. The title and ownership of your home belong to you and not the bank. There are also other bank lenders that also offer Reverse Mortgage Products and I can help you select the one best for you.
The money you get is tax free. It also doesn't impact your OAS, or Guaranteed Income Supplement.
You decide how to spend the money you get. You can use the net proceeds from your CHIP Reverse Mortgage to make home renos or retrofits, pay unexpected expenses, financially help children or grandchildren, or purchase a second property.
There are NO regular mortgage payments required. Once you decide to leave your home, the interest and principal and any applicable charges are simply paid off from the proceeds of the home sale. You are still required to maintain your property taxes, fire insurance, and condominium or maintenance fees.
NO negative equity guarantee. You will never owe more than the fair market value of your home with the CHIP Reverse Mortgage.
Lets talk about the retirement fund potential of your home. Give me a call 250-228-5980 or text to find out more. I am 81 years old and missed the opportunity to use this funding as I sold my home, so am very familiar with the issues.