Researching My Options
[ Thursday February 8th 2018 at 2:40 am ]
I've been thinking a lot about how to gain the maximum benefit from my inheritance. When I calculate my cost of utilities, property tax and house insurance I don't reach the maximum $489 a month the Ontario Disability Support Program pays for. If I pay off my mortgage I will no longer get the full benefit rate.
I've done some calculations. Retaining a mortgage of $8,000 and adjusting the term would allow me to continue receiving the maximum. I've e-mailed my contact at the financial institution which holds my mortgage to inquire if the financial institution is open to a small mortgage. Ultimately I am trying to work out the best options for me that will give me the best quality of life.