No Negative Equity Guarantee

Jamie Ushko • August 1, 2023

In the quest for a secure retirement, many Canadians consider leveraging their home equity through a reverse mortgage as part of their financial strategy. Yet, a common question that arises in this context is whether they risk owing more than their home is worth.


The simple answer to this concern is a reassuring "NO."


The CHIP Reverse Mortgage, offered by HomeEquity Bank, is carefully designed with built-in safeguards to protect your home and your equity. One of the critical features ensuring your peace of mind is the No Negative Equity Guarantee*.


Understanding the No Negative Equity Guarantee

So, what exactly does the No Negative Equity Guarantee entail?

Put plainly, it ensures that, as long as you fulfill your property tax and mortgage obligations, HomeEquity Bank guarantees that the amount you owe on the due date will never exceed the fair market value of your home. Even if your home's value decreases over time, and the mortgage amount due surpasses the gross proceeds from selling the property, you can rest easy knowing that HomeEquity Bank steps in to cover the difference between the sale price and the loan amount.

This robust guarantee acts as a protective shield, offering you security and safeguarding your equity, regardless of economic fluctuations.


Rare Cases of Homes Selling for Less than Mortgage Balance

You might wonder whether homes ever sell for less than the mortgage balance. In reality, such scenarios are exceptionally rare. HomeEquity Bank has a conservative lending approach, never exceeding 55% of a home's value, specifically to prevent this situation.


In fact, over the past three decades, a remarkable 99% of Reverse Mortgage holders have had equity left in their homes. On average, this remaining equity amounts to an impressive 60%. As real estate values generally appreciate over time, the equity in your home continues to grow, reducing the impact of interest charged on the mortgage principal. And the best part? You retain all the equity left in your home, which depends on factors like the borrowed amount, your home's value, and the time that has passed since you obtained the reverse mortgage.


Get In Touch for Expert Guidance

If you're intrigued by the idea of using The CHIP Reverse Mortgage to tap into your home equity and secure your financial future, don't hesitate to reach out. I'm here to answer any questions you may have and provide expert guidance on this valuable financial solution.


In a world where financial peace of mind is priceless, The CHIP Reverse Mortgage offers a reliable path to unlock your home's hidden potential and ensure a comfortable retirement.



Ready to explore your options and secure your financial future? Feel free to reach out to me today. Your peace of mind is just a conversation away!

Jamie Ushko

Mortgage Broker

Let’s Talk About Getting Top Dollar for Your Property

By Jamie Ushko • June 17, 2026
When it comes to selling your home, most people think the first call should be to a real estate agent. But the smartest first step often isn’t with your agent—it’s with an independent mortgage professional. Why? Because your mortgage plays a bigger role in your bottom line than most people realize. Planning to Buy After You Sell If selling means you’ll also be purchasing another property, you’ll want to know exactly where you stand financially before listing. Mortgage rules change regularly, and qualifying once doesn’t guarantee you’ll qualify again. Getting a pre-approval in place ensures you know what you can afford and eliminates surprises later. On top of that, reviewing the terms of your existing mortgage could uncover options you may not have considered. For example, porting your mortgage instead of arranging a brand-new one could save you thousands. Selling Without Buying Even if you aren’t planning to buy right away, there’s still an important step: understanding the cost of breaking your mortgage. Unless your mortgage is open, penalties apply—and they can be significant. By reviewing the numbers with a mortgage professional, you might find that simply adjusting your timeline could reduce or even avoid costly fees. Navigating Life Changes In situations like a marital breakdown, it can feel like selling the family home is the only path forward. But that’s not always the case. With the right guidance and a legal separation agreement, one spouse may be able to buy out the other, keeping the home and providing stability for everyone involved. The Bottom Line Selling your property is more than just putting a sign on the lawn—it’s about creating a financial plan that protects your equity and positions you for the best possible outcome. Before you take the leap, let’s sit down and review your options. 📞 If you’re ready to talk strategy and make sure you get top dollar for your property, I’d be happy to connect anytime.

Bank of Canada Holds Rate at 2.25% — June 10, 2026

By Jamie Ushko • June 10, 2026
The Bank of Canada announced today that it is maintaining its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. For Canadian homeowners, buyers, and anyone with a mortgage on the horizon — here's what you need to know.