Personal Finance

Oas and mortgage

  • Last Updated:
  • Feb 14th, 2010 5:28 pm
Tags:
None
Sr. Member
Jul 20, 2005
691 posts
6 upvotes

Oas and mortgage

Just curious, if a person has retired and his only income is OAS, can the income from OAS qualified to obtain or co-sign a mortgage for a house ?
2 replies
Deal Addict
Feb 4, 2008
3137 posts
179 upvotes
Yes
Do your mortgage math correctly!
Banned
Jun 19, 2006
9349 posts
57 upvotes
Maybe, sort of.... A lender would view OAS as being similar to a RRSP, in that, the OAS payment stream cannot be seized by a creditor, if, indeed, the loan is defaulted on, because an OAS entitlement survives bankruptcy.

For any loan a person takes out, the types of income that are acceptable, are at the sole discretion of the lender.
"I worked with several H1B employees that were/are borderline ********. One of them wanted to spray an electrical patch panel with solvent to see if it would make the “network go faster”". <--- lol (source)

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)