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What are equity release schemes?
Equity release schemes are schemes that help senior citizens that have a low fixed income. It can also make sure that a senior citizen can stay in their home for the remainder of their life or until they enter a retirement home.
What are equity realease schemes?
Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.
Are equity release schemes the same thing as a reverse mortgage?
Yes they are the same thing. They both pay you monthly sums in return for an interest in your equity, or property. Usually, equity release schemes are engineered for the elderly so that they have a steady income every month.
What home equity release schemes does the Bank of America offer?
Currently the Bank of America doesn't offer home equity release schemes, but rather home equity loans. When taking out a home equity loan, one must be conscious about making the payments on time or risk a foreclosure on the home.
For whom are equity release schemes appropriate?
Equity release is like remortgaging your house. Many people will put up their house as collateral for obtaining a lump sum of money to use and then pay the money back or risk forfeiting ownership. Schemes would be something that tricks them into forfeiting and thus not appropriate for anyone.
Where could one find an equity release calculator?
One could find an equity release calculator at the following sources: The Equity Release Calculator; Aviva Equity Release; Responsible Equity Release; and Bristol West Life Time.
What does the term equity release mortgage actually mean?
Equity release, in mortgage language, refers to the ability of an individual to obtain a sum of money relative to the value of one's house while retaining the house.
Can you get equity release when you have a mortgage?
Equity release is re-mortgage plan that makes it possible to release equity on a mortgaged property. But, as soon as the equity amount is paid, you have to clear all the outstanding mortgages on your house. There are some equity release providers who deduct the outstanding mortgages from the value of your house to repay the loan.
Anyone help me find the best tax saving mutual fund schemes in India?
: Hi there! In order to save tax on the mutual fund schemes, you can invest in equity linked saving schemes under tax save law section 80C. However, equity linked saving schemes are diversified schemes wherein you can invest in equity related instruments, having a locking a period of about 3 years. For your reference, I have listed some of the good financial institution that offers best tax saving schemes. They are as follows: Top 5 tax Saving Mutual Fund based on lat 1 year returnsSBI Magnum Tax PlanReliance Mutual Fund - ELS - Fund Series 1Sundaram BNP Paribas Tax SaverFranklin India Tax ShieldPrudential ICICI Tax PlanI hope the above information might be useful for you.
How should one invest in debt or equity oriented schemes in mutual fund?
You have to take into your account the risk taking capacity,age factor,financial position etc.The scheme invest in different types of securities as disclosed in offer documents.Reliance mutual fund has some very good schemes which invest in debt instruments as well as equity.
What are the different Types of Equity mutual funds?
Based on the investing style equity mutual funds are broadly classified into 4 categories:Equity Diversified fundsEquity Linked Saving Schemes (ELSS)Index funds & ETFsSectoral Funds
What are the release dates for Sweat Equity - 2006 Equity Upgrades?
Sweat Equity - 2006 Equity Upgrades was released on: USA: 12 September 2012
