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The Canada Home Income Plan: Reverse Mortgage

Unlock the Value in your home.

A CHIP Home Income Plan is the simple and sensible way to turn up to 40% of the value that is locked up in your home into tax-free cash you can use today. The CHIP Home Income Plan is a reverse mortgage.

A CHIP Home Income Plan is a loan secured by the equity in your home. The big difference with the CHIP Home Income Plan is that you do not have to make any payments --principal or interest-- for as long as your or your spouce live in your home.

You maintain ownership and control of your home while enjoying all the benefits of having converted some of its value into cash. For all these reasons, a CHIP Home Income Plan is a sound financial solution for many people.

Some basic requirements for The CHIP Home Income Plan Reverse Mortgage:
CHIP is designed exclusively for homeowners 60 and older.
You can recevive up to 40% of the value of your home.
You receive the money tax-free.
No payments are required while you or your spouse live in your home.
You maintain ownership and control of your home.
You keep all the equity remaining in your home.
Your estate is well protected.
You can save on taxes.

For more information about refinances, contact one of the qualified mortgage professionals at Alberta Mortgage or Apply Online.

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