{"id":37420,"date":"2017-08-17T11:00:15","date_gmt":"2017-08-17T15:00:15","guid":{"rendered":"https:\/\/www.northeastmortgages.ca\/?p=37420\/"},"modified":"2021-02-06T01:57:53","modified_gmt":"2021-02-06T00:57:53","slug":"top-10-benefits-reverse-mortgage","status":"publish","type":"post","link":"https:\/\/www.nordest.ca\/blogue\/en\/top-10-benefits-reverse-mortgage\/","title":{"rendered":"The Top 10 Benefits of A CHIP Reverse Mortgage"},"content":{"rendered":"

First Off … What’s A Reverse Mortgage?<\/span><\/span><\/h4>\n

Like thousands of other canadians, maybe you’ve wondered, what is a Reverse Mortgage precisely? <\/span>In short it’s a simple way for homeowners over 55 to turn up to 55% of their home into tax-free cash. <\/span>It’s a loan secured against the value of the home, but unlike other loans, lines of credits and mortgages, it does not required a monthly payment of any kind for as long as you are living in your home. <\/span>In essence, it helps you leverage the value of your home, and make the accumulated value of your home do the heavy lifting for you. <\/span>You’ve paid your dues and now your property and your assets are working for you.<\/span><\/span><\/p>\n

Also your home remains safe, you maintain ownership and control of it, you can stay in your home, and<\/span><\/span><\/p>\n

Sounds to good to be true? <\/span>Think again. <\/span>Your home is one of the assets you own that probably has the most value. <\/span>Also, it’s increased it’s value over the years and will keep doing so. <\/span>Essentially here, you’re just using that stable and positive financial trend and using it to your advantage.<\/span><\/span><\/p>\n

Do You Qualify?<\/span><\/span><\/strong><\/p>\n

You can qualify to get a Reverse Mortgage only if you fit the following criteria<\/span><\/span><\/p>\n

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  • You live in Canada<\/span><\/span><\/li>\n
  • You own your home (can still be paying off your mortgage)<\/span><\/span><\/li>\n
  • You’re above 55 years old<\/span><\/span><\/li>\n
  • Your home is your principal residence<\/span><\/span><\/li>\n
  • Any loans secured by your home (mortgage, home equity line of credit) must be less than the funds available from CHIP Reverse Mortgages<\/span><\/span><\/li>\n<\/ul>\n

    Are you interested in getting a reverse mortgage? <\/span>You can get a free evaluation with us, just send us an email at info@northeastmortgages.com.<\/span><\/span><\/p>\n

    Benefits of A CHIP Reverse Mortgage<\/span><\/span><\/h4>\n

    Here are some of the most appreciated benefits of people getting a reverse mortgage. <\/span>Getting a reverse mortgage can help you:<\/span><\/span><\/p>\n

      \n
    • Pay off debts<\/span><\/span><\/li>\n
    • Renovate or make your home more accessible<\/span><\/span><\/li>\n
    • Handle unexpected expenses<\/span><\/span><\/li>\n
    • Help your children or grandchildren<\/span><\/span><\/li>\n
    • Improve your day-to-day standard of living<\/span><\/span><\/li>\n
    • Make a special trip or purchase<\/span><\/span><\/li>\n<\/ul>\n

      Other Beneficial Features<\/span><\/span><\/h4>\n

      Other benefits include:<\/span><\/span><\/p>\n

        \n
      • Get up to 55% * of the value of your home<\/span><\/span><\/li>\n
      • Stay in your home<\/span><\/span><\/li>\n
      • Maintain full ownership and control<\/span><\/span><\/li>\n
      • No payments required unless you choose to move or sell<\/span><\/span><\/li>\n
      • Receive the money tax-free<\/span><\/span><\/li>\n<\/ul>\n

        In short, you’ve probably noticed, Reverse Mortgages are an excellent for Canadians 55+ to leverage their financial assets so they can improve their day to day standard of living. <\/span>If you’re interested in getting a Reverse Mortgage for yourself just contact us at info@northeastmortgages.com and we’ll send you all the relevant documentation and information you need to take the right decision. <\/span>You can also call us at <\/span><\/span>(514) 680-4674<\/span><\/span><\/a> .<\/span><\/span><\/p>\n

        Free yourself from the financial stress that could be building up. <\/span>If you’re a 55+ Canadian Homeowner, get a Reverse Mortgage today.<\/span><\/span><\/p>\n