Recently, I had the pleasure of meeting a lovely couple. He was 75 and she was 80 years young. They were both disabled and needed to purchase a new car because their previous car had fallen apart on them. As a result, the couple had to use disability transportation buses to get around.

When the couple tried to get a loan from the bank, they were rejected because they had never borrowed money in their life before, so they had insufficient credit history. Since it was getting so hard for them to get around, they started feeling depressed and lonely. Their car gave them the freedom and flexibility to not only get to their appointments and pick up groceries, but also to socialize and meet with friends and family, which was very important to their livelihood.

I met this couple when they had exhausted all of their options and they were urgently looking for a solution. The couple had home equity to tap into and that’s when they discovered the CHIP Reverse Mortgage. Once their reverse mortgage was approved with HomEquity Bank, they were able to replace some windows in their home as well as afford a new car. They saved the rest of the proceeds from their mortgage for everyday living expenses and for an emergency fund.

I jokingly asked them if they would buy a BMW or a Jaguar, but humbly, they both said that they preferred to get a Toyota Camry.

I always say to myself “Who’s life did you change today?” And with this couple, I was able to help them get their mobility back. A reverse mortgage can help improve the lifestyle of you or a loved one the way it helped this couple. These and many other customers that I help inspire me to do what I do every day!

If you would like more information about reverse mortgages, contact a Dominion Lending Centres mortgage professional today.

Courtesy of Bob Dubask – HomEquity Bank – Business Development Manager