Mortgage from Glen Kelleway (604) 476-0053 - Mortgage

QUESTION:
I am self employed and taking out a mortgage for 180000. I am using a
mortgage broker (
glen kelleway) and he suggests that I also take a small line of credit and
use this to pay my business expenses.This way I can put the money from my
buisness (expenes) and aplly that amount to the mortgage. This way I should
have the mortgage payed off in 34 months.Then I am left with a line of
credit that I will have to pay off. Does this make sense and is it leagal. I
was audited by ccra a couple of years ago and don't want to raise any flags.
Thanks
---
david ingram replies:
Glen Kelleway is one of the very few mortgage brokers who actually
understand how to make a mortgage deductible.  What you are talking about
has been used thousands of times and is perfectly legal following the
provisions of the Siguardson case.
You can find out more about the concept by going to www.centa.com and
reading the November 2001 newsletter which gives several methods of making
your mortgage deductible.
Now that I have said that, I want to declare that this is not an unbiased
position.  Glen's mother, Adele, worked with me for several years and I have
done work for Glen in the past.  It just points out that I am proud of Glen
for learning and understanding mortgage interest as a deduction.  He has
come out to several of my seminars to learn it inside out.
You can come out to one of these free seminars put on by Fred Snyder as
follows:
Every Thursday evening Fred Snyder and I hold a free seminar at Fred's
office at 1764 West 7th (corner of Burrard in the Spence Diamond building)
in Vancouver.
The topics are:
  Seg funds and an alternative to the traditional RRSP.
   Making your mortgage income tax deductible
coffee and sometimes cookies of course.
Phone 604-731-8900 to reserve your seat -and, you are welcome to bring your
brother, your sister, your mother or father, your children, your best
friend, your worst enemy or your own financial advisor who hasn't explained
how to make your mortgage deductible.
Please note that I (david ingram) will be at the Dec 2nd seminar but on Dec
9, will be watching my daughter Jane singing at her school's play.  (she is
a 700 year old ghost).
And if you want to phone in and talk about it, you can call:
Answers to this and other similar  questions can be obtained free on Air
every Sunday morning.
Every Sunday at 9:00 AM on 600AM in Vancouver, Fred Snyder of Dundee Wealth
Management and I, David Ingram  will be hosting an INFOMERCIAL but LIVE talk
show called "ITS YOUR MONEY"
Those outside of the Lower Mainland will be able to listen on the internet
at
www.600AM.com <http://www.600am.com/>
 Local calls are taken at (604) 280-0600 and Long Distance calls are taken
at 1( 866) 778-0600
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Res (604) 980-3578 Cell (604) 657-8451
(604) 980-0321 Fax (604) 980-0325
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Disclaimer:  This question has been answered without detailed information or
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