If your parents are like 93% of Canadians, they probably want to grow old at home. However, many senior Canadians, much like their adult children, feel that they do not have the funds to cover the costs of such decision.
Growing old at home can involve a number of expenses such as healthcare, home support services and accessibility renovations.
Faced with this reality, many Canadians aged 55 and over and their adult children believe that the only option is to sell and downgrade into something smaller.
There is another solution.
The CHIP Reverse Mortgage can provide your clients with the means to help their parents regain their retirement freedom by having access up to 55% of the value of their property in the form of tax-free cash. With these funds they can:
- consolidate their debts
- reduce their monthly payments (no monthly payments required with CHIP)
- increase their cash flow
Contact us for more information.
*The content of this publication is subject to exclusive copyright in favor of Planiprêt – Mortgage Cabinet, which reserves all rights.
Source : https://www.banquehomeequity.ca/