Acceptance of Terms
By providing your MedicAlert Identification number this means that you accept the terms and conditions of the promotional offer.
Eligibility
This offer is available to MedicAlert Members who receive a reverse mortgage with HomeEquity Bank. To be eligible, you must be a MedicAlert member for 30 days prior to submitting an application to HomeEquity Bank. Your application is deemed to be received by HomeEquity Bank on the date the appraisal is ordered.
You will NOT be deemed eligible if:
- You become a MedicAlert member within 30 days of submitting an application to HomeEquity Bank
- You do not qualify for or do not proceed with a reverse mortgage at HomeEquity Bank
- You may not be eligible for this promotion in conjunction with other HomeEquity Bank promotions or offers.
Costs
HomeEquity Bank is not liable or responsible for any fees, charges, or costs incurred in obtaining a reverse mortgage from the Bank. Appraisal fees and any other subsequent costs incurred throughout the process of obtaining your reverse mortgage with the Bank are your sole responsibility.
Payment
If you receive a HomeEquity Bank reverse mortgage, you will be rebated $250.00. You will receive this rebate within 90 days following the funding of your reverse mortgage.
If HomeEquity Bank has a void cheque for your bank account on file, the rebate will be deposited into the relevant bank account by electronic funds transfer (EFT). If no bank account information is on file, a cheque will be issued in the name of (one of) the borrower(s) and mailed to the mailing address on file. The cheque must be cashed within six (6) months of the issue date as replacement cheques will not be provided after this period.
Rebates payable in accordance with these Terms and Conditions will be processed and issued within 90 days following the funding of your reverse mortgage.
Taxes
You are responsible for any income tax liability arising from the rebate you receive. We do not issue tax receipts.
Changes to the promotion
HomeEquity Bank reserves the right to change the terms and conditions or terminate the promotion at any time without notice. Notwithstanding any other provision in these terms and conditions, posting of the current version of these terms and conditions at www.chipmoney.ca/medicalertterms shall be deemed to be notice to you, where notice is required to be given to you.
How it Works?
If you’re like many other 55+ Canadians, much of what you own fits into two categories – the equity in your home …
Reverse Mortgage Videos
Watch these videos from HomeEquity Bank and learn more about CHIP Reverse Mortgage