Reverse Mortgages Explained - Including Case Examples

Reverse Mortgages Explained - Including Case Examples

𝗪𝗵𝗮𝘁 𝗶𝘀 𝘁𝗵𝗲 𝗖𝗛𝗜𝗣 𝗥𝗲𝘃𝗲𝗿𝘀𝗲 𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲?
CHIP is a reverse mortgage, a loan secured against the value of your home. It lets you unlock the value in your home without having to sell or move away. The money you receive is tax-free and yours to use as you wish.

✅ Pay off debts
✅ Handle unexpected expenses
✅ Help your children or grandchildren
✅ Improve your day-to-day standard of living
✅ Make a special trip or purchase

𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗖𝗛𝗜𝗣
➡️ Keep your home & Stay in your home and community.
➡️ Maintain complete ownership and control of your home for as long as you choose to stay.
➡️ No payments. With CHIP you never make a payment until you decide to move or sell.
➡️ Relieve financial stress. Use up to 55% of the equity in your home.
➡️ Enjoy retirement. The money you access through CHIP is tax-free.
➡️ Take control. Get your finances under control and gain freedom.

Video Chapters
00:00 Introduction
01:19 Recent Survey - Canadians want to remain in their home
03:48 CHIP Reverse Mortgage Advantages
05:30 Qualifying for a Reverse Mortgage
07:09 CHIP Mortgages Rate
10:16 How Grandparents can use CHIP Reverse Mortgage to help their family
12:10 Buying a Vacation Property
13:25 Rate Comparison
14:50 Equalization between family members
21:00 How a Reverse Mortgage can help in times of poor health
21:45 Can you have a Reverse Mortgage if you have tenants in your home?
27:00 Where is a Reverse Mortgage not a good fit?
30:25 Using a Reverse Mortgage to fill an income gap period
45:00 How to Keep the Cottage The Cottage
48:00 Cash to help pay for Healthcare needs
52:45 Life Insurance - Cash to pay for life insurance

➤ 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗜𝗻𝗾𝘂𝗶𝗿𝗶𝗲𝘀:
Andrew Cairns
Business Development Manager
HomeEquity Bank
☎️ Toll-free: 866-952-2447
☎️ Phone: 416-389-1447
📥 email: [email protected]
🌐 https://www.homeequitybank.ca/

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