It is no secret that the recent hike in inflation is making life more difficult for Canadians 55+, especially those with low or fixed incomes. You may be feeling the pinch of higher bi-weekly/monthly payment obligations, such as changes in the prices for your groceries, increased mortgage and credit card rates, auto-mobile and student or personal loan rates, and more. On top of a higher cost of living, it may be time to renew your mortgage if it is nearing the end of its term. You might find that heightened interest rates are pushing your payments beyond your budget and impacting your cash flow.
Have you been looking for financial relief but feel the solutions out there do not meet your needs? The CHIP Reverse Mortgage can help you!
A reverse mortgage allows you to access up to 55% of your home’s equity and turn it into tax-free cash to increase your cash flow. You can use the CHIP Reverse Mortgage to:
· Increase monthly cash flow for bills and expenses
· Pay for unplanned expenses such as home repairs
· Cover large expenses (healthcare, car, helping family)
· Keep up with the rising costs of living
If you would like more information about how the CHIP Reverse Mortgage can help you during inflationary times, please contact me today.
