What is a CHIP Reverse Mortgage?
It's a financial solution designed for Senior Canadian homeowners
Unlike a traditional mortgage where you make payments to a bank or someone else, a reverse mortgage pays you. You can use the money in anyway you see fit and live your retirement comfortably knowing you don't need to leave your home.
The biggest benefit of the CHIP reverse mortgage is that you are not required to make regular payments for as long as you or your spouse lives in your home.