(NC)—After a decade-long boom in housing prices, Canadians are finally facing the realities of a buyer's market. With real estate prices stabilizing and houses spending more time on the market, is the home no longer the potential source of wealth for seniors who've counted on it to support their retirement plans?
Seniors wishing to tap into their home equity in order to enhance their income, still have some attractive options. Many Canadians aged 60 and older are turning to the CHIP Home Income Plan as a simple, safe way to access the home equity in their home while the real estate market stabilizes.
Through CHIP's reverse mortgage solution, seniors are able to lock-in the value of their home and convert built-in equity into tax free cash while still having the opportunity to benefit from the long term appreciation of their home. Additionally, with no payments due until the home is sold, CHIP provides seniors with greater financial stability and flexibility in times of economic uncertainty.
In a buyers market, like today, seniors can expect to sell their homes for less money and experience a longer sales cycle. During periods of uncertainty in real estate markets, CHIP affords seniors with financial security for the long-term.
Don't let an unpredictable real estate market ruin your retirement.
More information on this topic is available online at www.chip.ca or toll-free 1-866-522-2447.
Source: www.newscanada.com
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