For senior citizens, being short on cash has become a big issue. For them, Chip reverse mortgage in BC has become a boon for raising money to meet their expenses.

But what benefits do chip reverse mortgages offer?

1. No tax liability

The money you acquire through a chip reverse mortgage does not attract tax liability, as it’s not an income but simply a loan amount.

2. Freeing up your existing debts

You can free up your existing loans and other debts through reverse mortgage proceeds, wherein all your remaining interest on debt is saved.

3. Reside in the property

One can obtain the primary benefits of residing at the mortgaged property. There is no hassle as to selling the mortgaged property.

4. The choice for making an independent decision

A Chip reverse mortgage scheme offers a choice for how you would like to receive your money. It can be either a lump-sum amount or periodic payment, or a combination of the two.

A chip reverse mortgage combines the benefits of financial wealth and mental security. Fitright Mortgage provides reverse mortgage professionals that act as a guide that helps you to make the best decisions. We provide professional experts of Chip reverse mortgage in BC who can make your life a bit simple. Get in touch with Fitright Mortgage for more information on Chip reverse mortgage in BC.

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