Reverse Mortgage with Life Insurance

Most of us have heard of Reverse Mortgage as a source of freeing up cash, tax free, from the homes that we live in to bolster our retirement income. If you are not familiar, it a simple strategy of borrowing funds from a lending institutions where the payment of the interest is optional and if not paid it is capitalized or added tot the loan. The house is put up as collateral for the loan. The funds so derived are not taxable as it not income but a loan.But what if that is not available or is not the best source of collateral or is on a basis not which is not the most favorable.

If you have a life insurance policy where the accumulated cash value is sufficient, you can utilize it as collateral forming a reverese mortgage scinario. If you are 20+ years from retirement this may be an interesting strategy to plan for now to utilize down the road.

Give us a call for details of this strategy.

contactus


  • No comments found
Ukranian Church.jpg CFL TigerCat Cheerleaders, Hamilton, ON.jpg Lake Muskoka.jpg lightning.jpg CanadianRail.jpg Rogers Center 1.jpg TorontoBeach.jpg Eaton's Center.jpg vineyard2.jpg Brock U.jpg Halton Country.jpg Pearson.jpg York U.jpg Burlington.jpg CottageCountry2.jpg Rogers Center-football.jpg TorontoWaterFront.jpg Croatian Franciscan Centre.jpg Sunset1.jpg cottagecountry.jpg Hamilton.jpg badlands.jpg Hockey Hall of Fame, Toronto, ON.jpg Guelph U.jpg Queens U 2.jpg RoyalYork.jpg UnionStation.jpg Goose1.jpg LondonSkyline.jpg Wolf Lake.jpg Yonge St.jpg WindMill.jpg Univerity college U of T, Toronto, ON.jpg Niagara vineyard.jpg toronto harbour.jpg Rogers Center 2.jpg ROM1.jpg escarpment.jpg parliament.jpg Western U.jpg HartHouse, TorontoON.jpg Via_1.jpg Moose.jpg Queens U.jpg Niagara falls.jpg