RY Dealers From

The Lower Mainland

With Hundreds Of
~The Best Brands!

“triple E
“Corsair.

: Kustom Coach §

 Leisoré Travel. §

ie :
Pleasureway- °
hoy aenene

NDS IN. REVENUE

: (enough to make your payments)

“SAVE ON TAXES! (PST & GST)
OY VACATION. SAVINGS wiTH OUR

' ‘1995 24 Corsair
4 GM, dual air, 4
“ $pd auto, tilt; cruise,
-$.s. wheel, simutators :
Gaucho unit #10°-

micro, tilt, cruise,
dual air, power seat

unit #77

a $35,800

- 460 Ford, 4 spdauto,

1996 22° Kustom
Koach by TravelAire
Dual air, PW., P.O.L.,

460 Ford,
4 Sod Auto

le Special $425 $06

987- Tee

TAP ILANO- Vw

Group holds
fundraiser

THE Canadian Federation of
University Women, North
Vancouver branch, is hold-
ing a book sale tomorrow,
April 16, 5 to 9 p.m. at :
Bookiovers,.175 E. 3rd St.,
North Vancouver. Proceeds: :
from the sale of second- .:
hand books will benefit. the.
federation’s scholarship ~
fund, which assists young ,
women in their pursuit of ”
post-secondary education
Left te right: store owner
Duncan Cummings, . :
fundraising committee cha
man V/endy Lucas, student:
Brianne Roe, awards com-
mittee member Audrey... *
Halsey and publicist Mable...
MacNaughton help promote «
tomorrow's sale. - :

NEWS photo Pau! McGrath

REVERSE MORTGAGE TO BELT i

he recent reduction in spending by

the federal government has seniors
concerned that their Canada pension
will more than likely be reduced in che
future. It will become increasingly
important for seniors to be financially
independent and that means maximizing
the income generated by all your assets.

Christine Perl
Spokesperson
- Canadian Home income Plan™ Corp.

Christine Perl, Spokesperscn,

“Canadian Home Iicome Plan™ (CHIP)

feels chac the most under utilized asset of
most people is their home. “That is
partly because until 10 years ago there

“was no good way of using the equity in
. the home without selling it,” says Perl
“but since the reverse mortgage was

developed in the late 80's more and more
people are realizing chat they can have
their cake and eat it too.”

The reverse mortgage was designed
by the Canadian Home Income Plan™
Corporation to provide Canadians 62
and over with a unique financial
opportunity. Through CHIP™ they are
able to access some of the substantia!
equity built up in their homes. Over the
past ten years, thousands of eligible
homeowners have taken advantage of
the program to enhance their lifestyles
and assist their children with financial
goals. Because the home represents the
majority of assets for retirees, unlocking
a portion of its value to provide a desired

lifestyle appears tu make a lot of sense.
The amount of equity that can be
taken is based on age and can be
received as cash, as guaranteed monthly
income, or as a’ combination of both.
This enables the individual to tailor the
program to the financial freedom they

_ desire.

The most popular use of CHIP™ can
be grouped under the category of
“Lifestyle.” Vacation, home renovations
or a new car would all fit in here along

with home help which could be anything.

from a gardener to 24-hour-a-day nursing’

" care. One of the reasons for this is that

the ‘monthly income created . through
CHIP™ allows interest income to: be
received on a tax sheltered basis because

of a tax ruling. This opens up some:.

interesting tax planning opportunities as
well as the ability to pass a portion of the
children’s inheritance to them at an
earlier date, when they are probably
more in need.

CHIP™ is. known. as a_ reverse ’

mortgage because no repayments are
required on the capital advanced during
the homeowner's lifetime. Instead, the
principal plus interest is repaid from the
estate. This leaves the homeowner to
enjoy the full benefits during their
lifetime knowing that it dues not require
repayment until they die. Both the
mortgage component and the income
option (if that is chosen) are guaranteed
to continue for the homeowner's lifetime
providing security to the homeowner.

Security has been an important
concern of Canadian Home Income
Plan™ Corporation which they have
taken many steps to ensure. The home is
never at risk. The homeowner retains
title. If property values increase, the
homeowner keeps the increase. If values
drop, the homeowner is secure in the
knowledge that they can stay in their
home for the rest of their life.

If security is number one on people's
list then flexibility is a close second.

CHIP™ is aware of this and has désigied ;
their reverse mortgage to provide’ fu
flexibility to move at any time o:
rent the property should that’ become:
necessary.. They. have. really worked:to
understand their target. market’:
develop a product to fit its needs.

“Qur primary objective at CHIP™ i
to educate people about the CHIP™:.
Teverse: mortgage. ‘Retired people -hav
spent many hours learning about RRS!

~ options, annuities, government: benefits i:

and other retirement options; they oO

., it to themselves to invest a lit le time

learning about CHIP™."”
The: CHIP™. program: has

“endorsed by the TD Bank’ an
=. Bank. .

Call (604) 685-2447 in: Vancouver 0
toll-free at.1-800: 63-2447 ‘and as
your free information package or mai
the coupon.

_

ot, Suite 1155...
Vancouver, B.C. V7X_1M& ‘

the value of my home. .

Name: (Mc/Mts./Ms.)

Postal Cade:

Telephone: —

Your Date of Birth

Your Partner's Date of Birth — 2
House Value (approx.): $

Existing Mortgage (if any): $
NS41

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