Big Changes for CHIP and Reverse Mortgages

CHIP (Canadian Home Income Plan)

CHIP, the Canadian Home Income Plan is now provided through Homequity Bank.

Seniors who wish to stay in their homes after age 55 can access up to 40% of their Equity to help them pay their on-going expenses.

In a world where 77% of seniors’ net worth is in their property it can make a great deal of sense to stay in your home instead of going to an apartment or senior residence.

They have the option of better cash flow and do not have to change where they live.

For  information about  the program and the lower interest rates available through CHIP please contact us today!