Seniors Stay in Their Home | CHIP program explained

Our parents raised us and cared for us. Now it’s our turn to help them in their Senior years.

As more Canadians reach retirement, the need for CHIP, (Canadian Home Income Program) is growing rapidly. Seniors want to stay in their homes as long as possible and they want to maintain their lifestyles. The barrier to this is often reduced income.

In Canada, seniors are the fastest growing segment of the population. With most seniors their equity is in the home. The have the asset, but it’s not in the cash format needed to pay monthly expenses. Families can help parents retain their home and independence by deciding together if CHIP is right for the individuals .

Thanks to the CHIP Program seniors over the age of 55 now have a resource that allows them to take up to 40% of the equity out of their home and use the cash for monthly expenses, travel, home maintenance or however they wish. There’s no repayment and seniors can stay in their home as long as they wish. The ownership of the home is always theirs.

Sound financial planning combined with the CHIP Program will give seniors peace of mind and the lifestyle they worked so hard to obtain. The local representative of CHIP, Loui Nedanis is available to assist anyone who needs more information on the benefits of the CHIP solution. Call Loui at 416-550-8740

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