A reverse mortgage is a versatile and flexible financial solution for Canadians in their retirement years. Homeowners 55+ are unlocking their home equity for tax-free funds that don’t have to be repaid until they decide to sell their homes.

Consider these four reasons Canadians 55+ turn to the CHIP Reverse Mortgage by HomeEquity Bank:

1. Alleviate the stress of debt.

You are struggling with mortgage payments and credit card bills, prefer not to tap into savings or investment portfolios, or are incurring more debt due to unavoidable expenses.

2. Pay for unplanned expenses.

You are faced with unexpected home repairs such as a leaky roof, retrofitting for mobility reasons, or need to hire in-home healthcare to assist with day-to-day.

3. Want to live life to the fullest.

You have more time to do the things you want – but not the funds. For example, you want to purchase a summer property or take your dream vacation.

4. Maintain a standard of living.

You are experiencing a shortfall in your retirement funds while trying to maintain the lifestyle you and your family are accustomed to.

If you relate to any of the above scenarios, contact your DLC Mortgage professional for details on how the CHIP Reverse Mortgage by HomeEquity Bank can help you.

A reverse mortgage is a versatile and flexible financial solution for Canadians in their retirement years. Homeowners 55+ are unlocking their home equity for tax-free funds that don’t have to be repaid until they decide to sell their homes.

Consider these four reasons Canadians 55+ turn to the CHIP Reverse Mortgage by HomeEquity Bank:

1. Alleviate the stress of debt.

You are struggling with mortgage payments and credit card bills, prefer not to tap into savings or investment portfolios, or are incurring more debt due to unavoidable expenses.

2. Pay for unplanned expenses.

You are faced with unexpected home repairs such as a leaky roof, retrofitting for mobility reasons, or need to hire in-home healthcare to assist with day-to-day.

3. Want to live life to the fullest.

You have more time to do the things you want – but not the funds. For example, you want to purchase a summer property or take your dream vacation.

4. Maintain a standard of living.

You are experiencing a shortfall in your retirement funds while trying to maintain the lifestyle you and your family are accustomed to.

If you relate to any of the above scenarios, contact me today.

There are many insurance products when it comes to your home, but not all are created equal. One such insurance policy that potential homeowners may encounter is known as “title insurance”.

This particular insurance is designed to protect residential or commercial property owners and their lenders against losses relating to the property’s title or ownership. In fact, it is so important to lenders that every single lender in Canada requires you to purchase title insurance on their behalf. It is not a requirement to have coverage for yourself, but that doesn’t mean you should dismiss it outright.

While title insurance can protect you from existing liens on the property’s title, the most common benefit is protection against title fraud.

Title fraud typically involves someone using stolen personal information, or forged documents to transfer your home’s title to him or herself – without your knowledge. The fraudster then gets a mortgage on your home and disappears with the money. As the old adage goes: “It’s better to be safe than sorry” and the same goes for insurance.

Similar to default insurance, title insurance is charged as a one-time fee or a premium with the cost based on the value of your property. This insurance typically runs around $300 for the lender and $150 for the individual. It can be purchased through your lawyer or title insurance company, such as First Canadian Title (FCT).

If you are wanting to know more about title insurance, or confirm that you (and your home) are properly protected, don’t hesitate to reach out to me today for a mortgage review!