The company that helps seniors who want to generate more income, preserve investment assets, enhance the lifestyle and don’t want to downsize or move, offering the equity in the home through a CHIP home income plan, commonly referred to as a reverse mortgage. A reverse mortgage is a mortgage designed specifically for the changing financial needs of Canadian seniors. A CHIP Home Income Plan is a loan, otherwise known as a reverse mortgage, which is secured by the equity in your home. The most important difference with a CHIP Home Income Plan and a regular mortgage or line of credit is that the homeowner does not have to make any payments, interest or principal for as long as the homeowner or spouse continues to live in the home.