UN) subsidiary, Canadian Home Income Plan Corporation (CHIP), today announced the availability of a Best Rate Planned Advance Option that affords homeowners aged 60 and older the ability to turn $1,000 of their home equity into tax-free cash on a monthly basis. For over 20 years, CHIP has been the industry leader in home equity lending to seniors, enabling access of up to 40 per cent of a home’s value in tax-free cash with no income, credit or medical qualifications. With a CHIP Home Income Plan, funds are never taxed as income and seniors gain long-term financial security while still maintaining ownership of their home with no regular or monthly payments required until the home is sold or if the homeowners move out. By turning home equity into cash, CHIP’s simple and sensible financial solution enables seniors to enhance their monthly cash flow. Forward Looking Statements Home Equity Income Trust from time to time makes written and verbal forward-looking statements about business objectives, operations, performance, and financial condition, including, in particular, the forecast of cash distributions and the likelihood of HOMEQ’s success in developing and expanding its business. About Home Equity Income Trust Home Equity Income Trust provides unitholders with stable monthly cash distributions from a portfolio of reverse mortgages originated by its wholly owned subsidiary Canadian Home Income Plan Corporation. read more

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