Senior Money Matter$

There is NO retirement...like HOME! Discover how you can stay in the home you love and live a comfortable retired lifestyle. www.seniormoneymatters.ca

Two of the biggest Myths about Reverse Mortgages - Myth: The bank owns the home Fact: The homeowner always maintains title ownership and control of their home, and they have the freedom to decide when and if they’d like to move or sell.... Myth: Those with a reverse mortgage will owe more than their house is worth Fact: A Reverse Mortgage allow clients to take a maximum of 55% of the home’s appraised value. In fact, 99% of clients have equity remaining in the home when the loan is repaid. Have questions? Visit us at www.seniormoneymatters.ca

All too often life is about compromises - Well NOT in this case!! With the CHIP Reverse Mortgage, you’ll be able to live in the home you love and enjoy a comfortable lifestyle. We understand that Canadians over the age of 55 have unique financial needs that are only growing in complexity. Compared to traditional methods, a Reverse Mortgage allows you the ability to access the equity in your home to use however you wish, making it a viable option in many financial plans. Click on the link to visit our website www.seniormoneymatters.ca

Wouldn’t it be nice if you had the money to do more of the things you want to do? A CHIP Reverse Mortgage could be just what you need. It’s the simple and sensible way to unlock the value in your home and turn it into cash to help you enjoy life on your terms. BENEFITS OF A CHIP REVERSE MORTGAGE You receive the money tax-free. It is not added to your taxable income so it doesn’t affect Old Age Security (OAS) or Guaranteed Income Supplement (GIS) government benefits you may re...ceive. You can use the money any way you wish. Maybe you want to enjoy your retirement or cover unexpected expenses. Perhaps you want to update your home or help your family without depleting your current savings. The only condition is that any outstanding loans (e.g. existing mortgage or home equity line of credit) secured by your home must be paid out with the proceeds from your CHIP Reverse Mortgage. No regular mortgage payments are required while you or your spouse live in your home. The full amount only becomes due when you and your spouse no longer live in the home You maintain ownership and control of your home. You will never be asked to move or sell to repay your CHIP Reverse Mortgage. All that’s required is that you maintain your property and stay up-to-date with property taxes, fire insurance and condominium or maintenance fees while you live there. You keep all the equity remaining in your home. In many years of experience, 99 out of 100 homeowners have money left over when their CHIP Reverse Mortgage is repaid. And on average, the amount left over is 50% of the value of the home when it is sold.