7 Common Questions About Reverse Mortgages

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 vs HELOC (Home Equity Line Of Credit)

Reverse Mortgage - Head Picture

  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. But first…   ADVANTAGES AND DISADVANTAGES OF BOTH Firstly, let me point …

Introduction To The CHIP Reverse Mortgage In Canada

Take advantage of your home equity Most people think of two ways to use the built up equity in their home. Either by selling your home, or by taking out a home equity line of credit. But if you are over 55, there may be a better option: reverse mortgages.   Reverse Mortgage vs. HELOC …

Why I Believe In Reverse Mortgages

There was a 62-year-old husband and his 61-year-old wife living in Kelowna, BC.  One day the husband had a massive heart attack and died instantly.  Insurance paid off all the debts.  The husband had always looked after the financial affairs.  The widow knew nothing about financial matters and couldn’t even balance a cheque book. The …

Avoiding Foreclosure And Renovating A Home

Violet has been living in the old farm house she grew up in, for most of her life. Over the years, Violet had helped her children financially, so when her bills started to pile up, she welcomed her son’s offer to pay for her property taxes. She never saw a tax bill and was grateful …