Unlocking the Benefits of Reverse Mortgages with CoffeeandMortgage.ca
Calling all homeowners aged 55+! Are you ready to discover the incredible financial possibilities that await you? CoffeeandMortgage.ca is here to help you unlock the true value of your home with the power of reverse mortgages. ✨&Nbsp;
Access Your Home's Value Without Monthly Payments!
As Canadians, we understand the desire to stay in the homes we love as we age gracefully. But financial peace of mind is crucial to make that dream a reality. That's why reverse mortgages are gaining popularity among the 55+ demographic, offering a solution that provides you with the flexibility and security you need. And guess what? We've got you covered! #ReverseMortgage #RetirementGoals #MortgagePeaceOfMind #RateInsurance #ExceptionalService
Why should you consider a reverse mortgage? Let's dive into the incredible benefits:
Reverse Mortgage Quick-Facts and Features
Tax Free Money
The money you receive does not constitute a part of your taxable income, meaning that your Old Age Security (OAS) and Guaranteed Income Supplement (GIS) is not affected.
Maintain Ownership of Your Home
Contrary to popular belief, you will not lose your home with a Canadian reverse mortgage. You'll never be asked to move or sell to repay your CHIP Reverse Mortgage. The requirement is to maintain your property and stay up-to-date with property taxes, fire insurance and condominium or maintenance fees while you live there.
Use The Money Anyway You Wish
A reverse mortgage can help you enjoy your retirement or cover unexpected expenses. Pay for medical bills, upgrade your home, help family and loved ones, travel and pay monthly expenses without depleting your current savings. The only condition is that any outstanding loans secured by your home must be paid out with the proceeds from your CHIP Reverse Mortgage.
Keep All Remaining Home Equity
In many years of experience, 99 out of 100 homeowners have money left over when their CHIP Reverse Mortgage is repaid. And on average, the amount left over is 50% of the value of the home when it is sold.
To qualify you must be a Canadian home owner, 55 years of age or older. The age qualification applies to both you and your spouse. Get up to 55% the value of your home; No credit, no health check and no income needed. Your home must be your primary residence.
No Repayment While Living In your Home
Regular mortgage payments are not required while you or your spouse are living in the home. The full amount only becomes due when you and your spouse no longer live in the home.