Advice And Articles

In  this article we thought we would outline the real pros and cons of a reverse mortgage. Like any financial decision, there are both advantages and disadvantages that need to be considered. As the leading specialists in Canada, we believe in objectively showing you both the advantages and the disadvantages of a reverse mortgage – […]

A reverse mortgage can be a great way to replace income during retirement, or help pay bills when a pension or savings isn’t enough – the money from the reverse mortgage can be used for any purpose: to repair a home, to pay for in-home care, to deal with an emergency, or simply to cover […]

Reverse mortgages have been around for over 400 years, yet they are still often misunderstood in Canada. In order to address the misconceptions, it is useful to examine the history of reverse mortgages and how they have evolved over time. 400 Years of History The concept of seniors not having enough money to enjoy their […]

Many people find themselves in the situation where they are deciding between reverse mortgages and a Home Equity Line Of Credit (HELOC). So we thought we would take a look at the pros and cons of both and how you can combine both into a product that we call the ‘Reverse Mortgage Line Of Credit (RM-HELOC)‘. […]

There is little doubt that reverse mortgages are one of the most misunderstood financial products in Canada. You might be wondering: where does this misunderstanding come from? Well we already know the answer, it is very simple.  This misunderstanding comes from the U.S.A. We have talked about this many times before and the fact that […]

Before I examine the alternatives to a reverse mortgage, I should reveal that I think is a fantastic product, especially in today’s age where many people find themselves to be ‘house rich’ but ‘cash poor’. But do I think it the best solution for absolutely everyone?  Of course not. Are there alternatives out there?  Yes. Are the […]

Quite often we get asked the question about what hidden or buried costs there are in a reverse mortgage. This is largely because the whole product can come across of having a feeling of being too good to be true.  Being skeptical like this is a good thing considering how many financial products out there bury […]

There are many people out there who do not believe in Reverse Mortgages in Canada. I used to be one of them. Then I learned more about the product and now I can see it can and has benefited many people. And yes, of course, there are people who a reverse mortgage is not right […]

A reverse mortgage in Canada isn’t always the right option depending on your situation. There are times when it may be better to take a look at some of the other financial options available to you before choosing to go with a reverse mortgage. It’s always a good idea to get independent advice about your […]

Reverse Mortgages have been around for quite some time in Canada – over 25 years now. But there are still a number of questions surrounding them that we see from people time and time again. As your CHIP Mortgage Pros, we thought it would be a good idea to address some of these questions and […]

Reverse mortgage rates and ‘what are your rates’ are very common questions that we get. The problem is that rates are particular to an individual. This is actually also the case for a traditional mortgage – just that most people don’t know this and many sites play a ‘bait and switch’ type game by advertising […]

Most of us watch a lot of American TV and hear American media and news which sometimes can make things confusing when it comes to understanding similar products, like a reverse mortgage. Have you read somewhere that the age to qualify for a reverse mortgage is over 62?  Have you been reading about terms such […]

Quite often the decision about whether or not to get a reverse mortgage involves choosing between this and a Home Equity Line Of Credit (often called a ‘HELOC’). Well we believe we have come up with the perfect solution to this debate. You can watch the video version of this where I’ll walk you through […]

For this month, we wanted to highlight another recent reverse mortgage deal. In this story we will showcase a deal where: 1.  A reverse mortgage was used to help the kids buy their first home 2.  There was absolutely zero loss of equity due to the way it was setup  (Names and client information have […]

Introduction Home is where everyone feels comfortable and it is a vital part of everyone’s life. If you are in your 50’s or 60’s, you have lived many years in your house and have thousands of memories there. You have raised your children there and spend valuable time with your friends and family. But, the […]