CHIP Reverse Mortgage
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CHIP Reverse Mortgage

How would you rate CHIP Reverse Mortgage?
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Canada
1 review
24 helpful votes
Follow sue s.
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Disgusted
October 25, 2017

My mother called and spoke with an agent and she told them that she owned her home however did not own the land (she lives in an adult living community) she was told she qualified and even received emails confirming the amount. She was told she would receive the money within 2-3 weeks. This is week 3, the agent never returned calls she said a person would call to make appointment to have house assessed, they never called. Tuesday of this week my mother was told she does not qualify as her home would be to hard to sell. I spoke with a manager and was told she did not qualify because the land is leased. They need to get their facts straight

Date of experience: October 25, 2017
Canada
1 review
32 helpful votes
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Dont they give you half the value of your home from their pocket? When you sell you pay them that half and you keep the other half. They didnt say the money they would give to you would come from the equity of your home. Am i right?

Date of experience: March 25, 2017
Canada
36 reviews
33 helpful votes
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BEWARE! CHIP refuses to let a lawyer review their contracts!
If you ask for a blank copy of their contract to take to your lawyer they refuse.
They make excuses that they have no blank contracts copies, or all the contracts are different. They want to bamboozle you with their high pressure sales in your home.
DO NOT SIGN ANY CONTRACTS WITH THESE PEOPLE!

Date of experience: January 4, 2019