How the CHIP Reverse Mortgage® helped Dr.Gordon and Audrey Atherley
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“It means having a life”
Dr.Gordon Atherley has had an active life. He spent many years working as an epidemiologist, but since “retiring” from his career in University Faculties, Gordon continues to work.
“Once you retire, it’s as though you’ve dropped the cable that links you to the outside world,” says Gordon. “I felt I might start losing my intellectual faculties if I didn’t do something.”
To keep that link to the outside world, Gordon has produced hundreds of radio shows, advocating for family caregivers, that have been broadcast on Voice America’s online radio network. Now, he’s producing radio shows from the spare bedroom of his condo in Oakville, Ontario.
Keeping up with the costs of living
In 2017, Gordon and Audrey started looking into the possibility of taking out a CHIP Reverse Mortgage with HomeEquity Bank, because their pensions weren’t keeping pace with the cost of living.
“The problem is, very few of these pensions increase with time,” says Gordon. “They don’t keep pace with your needs. We needed to bolster our pensions that were receding in value.”
The Atherleys’ daughter suggested that they contact HomeEquity Bank to find out more information about the CHIP Reverse Mortgage.
“I liked the idea that we can continue to live here”
Being able to stay in their home was very important to Gordon and Audrey.
“I liked the idea that we can continue to live here, until both of us has gone from this planet,” says Gordon.
Their condo suits Gordon’s mobility issues and the spare bedroom is perfect for his recording studio. Moving would have been a huge inconvenience for the couple. Another essential feature of the CHIP Reverse Mortgage is that they don’t have to make regular mortgage payments on the loan. “This is enormously important for anyone worried about their future,” says Gordon.
The CHIP Reverse Mortgage has helped them plan for whatever life may have in store for them down the line. “We needed to make sure we’re prepared for our declining years,” says Gordon. Gordon and Audrey now both feel a lot more secure knowing that if anything goes wrong, they will have the finances to cope.
“We need to take control of the rest of our lives”
Gordon and Audrey have six adult children and wanted them involved in this financial decision.
“I was able to say to them that we need to take control of the rest of our lives,” says Gordon. “The age of seniors is rising. We need to be able to manage our lives without you, the family, having to support us before we die.”
Their family understood and accepted Gordon and Audrey’s decision.
“We want to ensure that by the time we’re gone, nobody has had to contribute money,” says Gordon.
How the CHIP Reverse Mortgage has made a difference
When describing the impact that the CHIP Reverse Mortgage has had on him and Audrey, Gordon says, “It means having a life.” Audrey and Gordon can now go out together far more regularly. They don’t have to compromise.
“We go out largely every day of the week,” says Gordon. “We have a life, it creates friendships and conversations. All of that is an improvement over not doing anything.”
When asked for advice for people considering the CHIP Reverse Mortgage, Gordon says,
“Get it straight with your family. And make sure you know what you’re going to benefit from it. HomeEquity Bank has been around a long time, it’s not a fly-by-night. It takes its work very seriously and offers a fine service.”
If you would like to find out more about the CHIP Reverse Mortgage and how it can help you live retirement your way, call us at 1-866-522-2447.