Does the beautiful one-floor living home or condo you want to buy for retirement cost more than what you will receive when you sell your current home?
Consider CHIP Reverse Mortgages
A Flexible Solution for Senior Canadians
~are 55 years old and looking to move~
~do not want to use any investments or use up all of your equity to purchase a home or condo~
~need renovations to accommodate medical requirements~
~have had credit issues~
~are finding it difficult to find a mortgage~
~would like to maintain ownership and control of your home with no mortgage payments~
~find your income has decreased due to retirement or other circumstances~
~would like to own a home but would also like to travel, help with education costs for your children or grandchildren or have debts you would like to pay off....
Then a CHIP Reverse Mortgage Could be the Answer.
- CHIP is designed exclusively for senior homeowners.
- You can receive up to 50% of your home's current appraised value based on your age, that of your spouse, and the location and type of home.
- You choose how you want to receive the money... you can take what you like now or later to take more or arrange for regularly scheduled advances.
- You receive the money tax-free.
- No payments are required while you or your spouse live in your home.
- You maintain ownership and control.
- You keep all the equity that is left in your home.
- Your estate is fully protected; The amount to be repaid will never exceed the fair market value of your home at the time it is sold.
- You can save on taxes.
To Explore the Possibilities of Retirement Living in Muskoka,
Contact Relaxed Living Realty Inc, Brokerage
Based on Information from Jennifer Lewis Mortgage Agent, The Mortgage Centre, FSCO Licence #M08004281, MICO Financial Corporation, lic. 11736