Business

ACCESS HOME’S VALUE
New retirement plan
offers financial option

A NEW retirement financing plan just on the market could
be the future for retired Canadian homeowners over 60.

The Home Income Plan, the
result of several years’ work by a
group of businessmen headed by
North Shore resident . William
Turner, allows retired homeowners
to access the value of their ‘Proper-
ty, supplement monthly iricome,
and remain at home as long as they
want.

An option to selling and renting
or mortgaging the property, the
new life-term alternative centres on
a financial agreement registered
against the title of the home. The
program is guaranteed by
Seaboard Life Insurance.

business
briefcase

by Michael:
Becker

The homeowner retains title to
the home, can rent, move, sell at
any time the estate benefits from
increases in property value, and
the income advanced ‘is . only
repayable. from the value of ‘the
home when it is no longer owned.

The | Cansdian Homeincome
- Corporation (CHC) first offered -

a3

“couver and’ surrounding
municipalities March 15.
' “We've taken over 500 cails in
the past few weeks in response to
our ads and I’m taking calls direct-
‘ly three hours a day,”’ said Turner,
CHC president and managing
director. -

Turner. said his company is cur-
rently negotiating with larger in-
stitutions to expand the program
throughout ‘the country."He said
both federal and provincial gov-
‘ernment officials have reacted en-
thusiastically to the new plan.

There are two costs to the

‘the. plan to homeowners in Van- .

homeowner. The first is an interest
rate charge comparable to a long-
term mortgage raie of interest
which is locked in at the time of
contract signature. The second is a
sales force cost of three to seven
per cent of the total amount of the
contract. This cost is factored into
the pricing of the program.

For more information call 684-
2260.

THE 46TH annual general meeting
of the North Shore Community
Credit Union is slated for Wed-
nesday, April 22, 7:30 p.m. at the
North Shore Winter Club, 1325
East Keith Road in North Van-
couver.

With over 35,000 members and
$224 million in assets, the credit
union is the 7th largest in the pro-
vince.

The credit union reported a $52
million increase in assets for 1986,
which was largely due to a merger
with Harbour Savings Credit
Union in February, 1986.

The merger increased the credit
union’s membership by 30 per cent
and branches from seven to 10.

During the year the credit union
granted 4,656 loans. worth
$70,000,000 to members with
$35,600,000 of the total going to
housing, $19,000,000 for business
and $5,000,000 for lines of credit

OPENEDUCATIONACCESS CENTER

CAREER TRAINING

_ Microcomputer courses. ..earn
a living at your pace and time.

¢ Professional assistance

@ MULTIMATE

« LOTUS 123

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Facilities for reat; individual

and company rates.
——_—_—

ACCESS CENTER: located in

North Van. next to Lonsdale Quay
and Sea Bus Terminal, 984-4671.

to support the MasterCard Plan.

teat

WHILE COMMERCIAL and in-
dustrial business failures declined
12.8 per cent across the country
during the first quarter of 1987,
according to Dun & Bradstreet
Canada Ltd. failurcs increased in
British Columbia.

Last year’s first quarter report
for B.C. showed 381 failures. The
same period this year shows 393.

The breakdown by industry
group is 14 failures in agriculture,
forestry and fishing; five in min-
ing, oil and gas extraction; 51 in
construction and allied trades; 39
in manufacturing; 33 in transpor-
tation; 23 in wholesale trade: 110
retail trade; 43 finance, insurance
and real estate; 75 services.

“LEN MACHT

CLASSIC QUOTES

OUR HOURS:
7:00 a.m. - 6:00 p.m.

Body paint & frame
repairs for your car.
- See us;

/ aquamece
couision

s80-4681 |

1315 COTTON DR.
NORTH VAN.

19 ~ Sunday, April 19, 1987 - North Shore News

R.R.S.P. MATURITY OPTION RATES
ANNUITY AND R.R.LF, ILLUSTRATIONS

Monthly Income Based on $50,000 of proceeds

TERM
SINGLE JOINT CERTAIN
LIFE ANNUITY |

MIN. GUAR. . 10th
10 YRS. |

AGE MALE FEMALE MF M/F
2499 ast] -
418.54 | $148.05

PASSSRALSS2LEa

475.99 } 221. 15
“tos $420 yr. guarantees only.

Rates can change from dav to day and vary depending on amounts.

ess April, 1987

R.R.LF, INCOME — MIN. BY LAW
MALE OR FEMALE
(CURRENT RATE 10.00%)*
10th Year TOTAL PAYOUT

YEAR FUND VALUE 10 AGE

314,980
294,210
274,988
257,159
240,616
225,262
196,880
184,040
173,703
168,931
158,639
151,318

Anyone wishing a personalized A.R.1.F. printout or the free brochure “A Guide to Selecting
Your R.R.S.P. Maturity Option’ may telephone 688-9577 of write to Suite 1205-675 West

Hastings Stree!, Vancouver, 8.C. V6B 1N2.
Tables prepared by SOLGUARD FINANCIAL LTD. -

Cn the North Shore since 1955

Did you know that Combined
Parts & Service had moved?

No.

Do any of your appliances need
repairs?

Not right away, but. .

What would you say if | told you
that this ad is worth $1 towards
your next purchase or service Call
of $10 or more?

What if | clipped out 2 ads?

Then you could save $2 off any
$20 parts purchase or service
call, etc. Now what do you say?

Thanks, | think ll take my
vacuum down to Combined and
get it fixed for spring cleaning.

(BESIDE FIRESTONE TIRES)
987-2257 . ‘

With purchase of any
full system
computer monitor value .

5120

INTRODUCING IQ PLUS

TURBO XT SYSTEM
e640K Memory On Board

COMBINED PARTS & SERVICE
NOW AT 1629 GARDEN AVENUE, NORTH VANCOUVER

«Dual Speeds: Normal 4.77 MHz
Turbo 8 MHz

RealTime Clock/Calendar with
Battery Back-Up

eHigh Resolution Monochrome
Graphics Card

eDual Floppy Drive Controller

#Parallel Adapter for Printer

eSerial Adapter for Mouse/Modem
oGame Port for Joystick

°360K Japanese Floppy Drive
eNew IBM Look-Alike Keyboard
©150W Power Supply

°8 Expansion Slots

Fancy ATStyle Case with Keylock and
Light Indicators

G Plus Computers Inc. 985-6735

1083 Marine Dr., North Vancouver, across from NS. Credit Union