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CHIP REVERSE MORTGAGES
The Canada-Wide CHIP Home Income Plan
If you have equity in your home, the CHIP Home Income Plan is an option for homeowners over 55 who don't want to move. Seniors today are living longer, saving less, spending more, and carrying more dept. Unlocking home equity is the most likely viable solution for a significant number of these people who do not qualify for a home equity loan or regular financing. This allows them to pay off loans, take a trip simply just buy them some time.
The plan unlocks up to 40% of the equity in your home at a very reasonable interest rate with no payments required, until you move or sell.
According to their brochure, over 99% of their customers have equity remaining upon repayment, and the amount to be repaid is guaranteed not to exceed the fair market value of the home at the time it is sold. Please complete the form below to have someone from CHIP call you.
