Imagine the feeling of relief when you’re able to free up money for your senior lifestyle!
Many individuals and couples find their way to me while researching the option of taking out a line of credit against the equity in their home. After our frank discussions and comparing the numbers, they commonly find that the CHIP Home Income Plan is a significantly better idea!
Taking out a line of credit can be risky for seniors, particularly as the credit line is:
- Set on a variable rate;
- Is a loan that is call-able; and
- Creates the potential of maxing out your Loan-to-Value ratio (what we commonly refer to as “LTV”) with compounding payments.
CHIP is a unique solution for homeowners over the age of 55.
Through the CHIP (Canadian Home Income Plan) “Reverse Mortgage” option, my clients are able to unlock up to 50% of their home equity based on their age and home value.
Even better, they find that they’re putting themselves at much less risk with NO payments and the guarantee they will never owe more than their home is worth.
If you’re ready for less stress, less worry and less activity around “counting pennies,” call me today for a free, no-obligation consultation at (866) 233-1794 to discuss the CHP Reverse Mortgage fit for you!
@Darlene Vilas, Canada’s leading Reverse Mortgage Specialist, www.ReverseMortgageAdvantage.ca