Reverse Mortgage Information Blog
5 Tips to Understanding Interest Rate Activity
January 12, 2010
A few ‘rules of thumb’ to keep in mind when interpreting interest rate activity: 1. As the economy begins to improve, remember: interest rates will go up. Inflation encourages an increase on bond yields which, in turn, produces higher rates. 2. Don’t... Read More →
How to Receive More Income & Reduce Your Taxes
July 29, 2009
It seems that Canadians are beginning to retire earlier and live longer than they were not very long ago. As a result, Canadian seniors are spending more, saving less and receiving less income than they need to live comfortably through retirement. However, for Canadians... Read More →
Finally! An Alternative Solution to Debt Relief
July 9, 2009
Does this scenario sound familiar? It’s been a lovely morning and you’ve just finished a relaxing breakfast with your spouse. You remember thinking that the weather is too nice not to enjoy the sunshine, so you step outside to go for a walk. You’ve been... Read More →
Boost Retirement Income in Tough Times
March 31, 2009
EDMONTON, ALBERTA - March 27, 2009 – Many Canadian seniors are supplementing their retirement incomes in these uncertain economic times by accessing some of their home equity through the Canadian Home Income Plan (CHIP), known as a reverse mortgage. CHIP, offered through... Read More →
How to Supplement One’s Retirement Income
February 6, 2009
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’... Read More →
CHIP Lump Sum Payment versus Periodic Payment
January 3, 2009
As you’ve probably seen, the literature throughout the Horizon Equity website states that with a Canadian Home Income Plan (CHIP) reverse mortgage, you are able to withdraw your home equity by means of one lump sum payment, or periodic payments over time. Choosing... Read More →
Claiming Reverse Mortgage Interest on Your Taxes
December 8, 2008
If you are getting a Canadian Home Income Plan (CHIP) reverse mortgage to invest your home equity, Horizon Equity equips you with yet another benefit of choosing the CHIP product. In Canada, when you borrow to invest, the interest costs associated with borrowing are tax... Read More →
Reverse Mortgages and Your Taxes
December 2, 2008
Being a senior in retirement, one of your major concerns is probably how much you will be paying in taxes each year, since it can really affect your cash flow. You likely think about it when determining how much of your RRSPs to withdraw, since upon withdrawal the funds... Read More →
Reverse Mortgage for a Second Home
November 22, 2008
Many people question if the Canadian Home Income Plan’s (CHIP) reverse mortgage is available to be applied to a second home or vacation home. Unfortunately, in order to qualify for a CHIP reverse mortgage, your home must be your principal residence. That being... Read More →
What are Risks of Reverse Mortgages
November 12, 2008
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... Read More →
