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Borrowing On An Annuity |
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Dear Mrs. Lank: Is it possible for someone to take out a mortgage on, or stand security with, an annuity? How would one go about doing this? |
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A mortgage is a financial claim against your real estate, which you give to a lender in return for a loan. An annuity is personal property, and you can’t mortgage one. Whether you can borrow against it is something to discuss with the company you bought it from. |
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Edith
Originally published on November 6, 2006 |
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