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
badlands.jpg Pearson.jpg Univerity college U of T, Toronto, ON.jpg TorontoWaterFront.jpg Rogers Center-football.jpg toronto harbour.jpg ROM1.jpg Eaton's Center.jpg cottagecountry.jpg Niagara falls.jpg CFL TigerCat Cheerleaders, Hamilton, ON.jpg Brock U.jpg LondonSkyline.jpg CanadianRail.jpg CottageCountry2.jpg WindMill.jpg vineyard2.jpg Ukranian Church.jpg escarpment.jpg Hockey Hall of Fame, Toronto, ON.jpg UnionStation.jpg Queens U.jpg Lake Muskoka.jpg Sunset1.jpg York U.jpg Western U.jpg Niagara vineyard.jpg TorontoBeach.jpg Hamilton.jpg Croatian Franciscan Centre.jpg parliament.jpg Yonge St.jpg Goose1.jpg Wolf Lake.jpg Rogers Center 2.jpg Halton Country.jpg RoyalYork.jpg HartHouse, TorontoON.jpg Rogers Center 1.jpg Queens U 2.jpg Guelph U.jpg lightning.jpg Via_1.jpg Burlington.jpg Moose.jpg