Canadian Reverse Mortgages

How you use the money for a CHIP reverse mortgage

Get out of debt! So many seniors are making payments for car loans, Visa payments and home improvement loans ... only to find themselves 'payment poor' while they are trying to manage on fixed incomes. A reverse mortgage Canada loan can wipe that car payment of $450 per month away! It can free up, on average, another $ 800 per month to live on.

Help out a family member. Do you have a child that needs help with starting her own business? Or a son that needs some more training and education? Or maybe some help with a down payment on a first home purchase? A reverse mortgage can help. You will have that extra ten or twenty thousand to lend them. While they are paying you back (or not paying you back!!) you need not worry about making any monthly mortgage loan repayments. It is like giving them a little bit of their future 'now' instead of later. And, in giving it now, you can see first hand what a wonderful gift or help that you are giving them.

Sometimes a little prop up or help can go a long ways in helping out a son or daughter ... and that means helping out the grandchildren by making their lives a little bit easier for everyone.

If you are lucky you are not worried about surviving and managing day to day. Financial worries are replaced by opportunities. And you will find that investing in a Canada reverse mortgage is really like investing in yourself. You can 'get by' ... but what you really want is the golf membership ... or that trip each year ... while everyone's health is still good ... to enjoy and have that enough 'extra' income to enjoy a comfortable retirement. A reverse mortgage does that by giving you cash when you want it.

Perhaps you wish cash for making an investment? Did you know that any interest charges in a reverse mortgage is deductible from any income earned! So, you get the income that is created ... and guess what? You are aren't making any monthly repayments. That means that the difference is for you to enjoy ... each and every month.

Ever thought of renovating? How would you like an home improvement loan that you don't have to make any monthly loan repayments? Sometimes, seniors will try renovating using other borrowing methods. Like getting a loan and then suffering financially by being buried under loan payments. Or worse, they 'dip' into their RSP or RRIF funds and face the shock of paying high income tax expenses. Instead it would be better to preserve your registered funds; and not cash out; and just get a reverse mortgage that require no monthly repayments.

Keeps you staying in your home longer! Our research shows that it is often the lack of extra funds 'why' people move from their homes in the first place. They can't afford to replace the roof, can't afford someone to manage the garden ... or health costs strain the budget too much. But what if money was not an issue? Wouldn't you rather stay in the family home? Still over look your familiar garden?

A reverse mortgage can give you the extra cash you need or create an income you need to allow you to stay in your family home longer ... and stay there happier than any other borrowing method.

"Our first interest is in your best interest''

Call Gregory Stanley Today

1 866 658-0492

Making the Decision - History of Reverse Mortgages - How to use the Money