If you’re like other Canadians who, unfortunately, don’t have enough saved for retirement, the Canadian Home Income Plan (CHIP) could be a viable option to supplement your retirement income. Statistics Canada estimates that, on average, 77% of seniors’ net worth is tied up in home equity, and most don’t think to access that home equity…. read more
As with any standard mortgage, reverse mortgages have a certain degree of risk associated with them. Your home is, after all, probably the single most valuable asset that you will possess during your lifetime. That being said, there are a couple of risks associated with reverse mortgages that aren’t associated with standard mortgages. The first… read more