Mortgage Interest as a deduction in CANADA


I read the newsletter, but one thing still confuses me a bit (even after
your fifteen versions of "what to do"). As far as I can see, you still need
the money to pay off the business loan that you are using to pay off the
property. Where does this additional money come from if you are using the
rental income to pay down the principal on the family residence?

Best wishes,

f arranged properly with interest only payments on the Business HELOC and
with the tax deduction that will come form making an equivalent amount of
interest that you were paying anyway a "tax deduction", your payments should
not increase over the long term but there will be a short period (maybe a
year) where you might have to pay out a little more.

The Five part HELOC from MANULIFE BANK can be arranged so that the payments
are interest only while you re-arrange your affairs.

Call or email Stu Rodger one of their "house-call" representatives at:
phone (604) 351-6133 or
email to [email protected]

My own mortgage broker Glen Kelleway also understands the principal and can
help you - his email is [email protected] or phone at (604) 476-0053
Glen managed a conventional rate mortgage for me after a million dollar
divorce and a five million dollar bankruptcy.


Trackback URL for this entry:

No trackback comments for this entry.