The PATH Home Plan can help you live a more comfortable life.
Commonly known as a reverse mortgage, the PATH Home Plan releases the equity you’ve built in your home by turning a portion of it into an additional source of cash – tax and payment free. This means you’ll have access to a dependable source of funds without the stress of any payments all while retaining ownership of your home.
The CHIP Reverse Mortgage is a loan secured against the value of your home. Unlike regular loans or mortgages, with CHIP, you are not required to make payments. You’re free to enjoy your retirement. You only repay the loan when you move or sell your home. And you maintain complete control until you decide to do so.
All you’re responsible for are the property taxes and insurance and to keep the property well-maintained.
The money you receive with the CHIP Reverse Mortgage is tax-free. What you do with it is up to you.
Income Advantage from HomeEquity Bank is a loan secured against the value in your home. It lets you convert part of your home equity into cash – without requiring you to sell or move. If you want the convenience of monthly or quarterly advances, Income Advantage is the product for you.
You maintain complete ownership and control of your home. Income Advantage lets you access up to 55% of your home’s appraised value and you receive the money tax-free.