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CHIP Reverse Mortgages

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

 

If you:

~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

705-788-3777

 

Based on Information from Jennifer Lewis Mortgage Agent, The Mortgage Centre,  FSCO Licence #M08004281, MICO Financial Corporation, lic. 11736

 

www.relaxedlivingrealty.com

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