WebHi David, Thank you for choosing the CHIP Reverse Mortgage as your financial solution in retirement. Getting a reverse mortgage is a big financial decision and we understand … WebJul 15, 2015 · A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 and older. It takes part of the equity in your home and converts it …
How Do Reverse Mortgages Work in Canada HomeEquity Bank - CHIP
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WebApr 23, 2004 · For over 30 years, the CHIP Reverse Mortgage by HomeEquity bank has helped tens of thousands of Canadians access up to 55% of the value of their home. Our reverse mortgage options are safe and secure giving you the freedom to take control of your finances and retire in the home you love. Because, at HomeEquity Bank, we believe … A reverse mortgageis a lending option that lets homeowners who’ve paid off all or most of their mortgage to tap into their home equity. Reverse mortgage funds, which are only available on primary residences and typically people over the age of 62, are structured as lump sums or lines of credit that can be … See more While a reverse mortgage may seem like a good way to access cash in your golden years, it’s important to understand the realities of this type … See more In most cases, a reverse mortgage is not the best option for senior homeowners. But if expenses are tight and you are looking for options, … See more If a reverse mortgage isn’t appealing but you still need access to cash, consider the alternatives to a reverse mortgage—like refinancing your mortgage or taking out a home equity loan. Evaluate these other mortgage options … See more WebThe most attractive feature of a Canadian CHIP reverse mortgage loan, obviously, is that a senior may carry a reverse mortgage for 5, 10, 15, or even 25 years or more and never be required to make a monthly … orca wasserverteiler