Did you build the property with your own resources? Or did you think you had plenty of spare cash, but the reality is different? Did you know that you can have your own funds reimbursed by a mortgage?
When you say reimbursement of own resources
Did you put your own money into buying, renovating or building a property that you now need for something else? If 3 years have not yet elapsed, you can apply for a reverse mortgage, or reverse mortgage for short.
How do I apply for reimbursement of my own resources?
First of all, the bank needs to prove the expenses incurred in the property. Invoices and other documents, bank statement, purchase contract, etc. can be used for this purpose. In addition to invoices and documents, the mortgage value of the property also has an impact on the amount reimbursed.
Did you know that there is a downside to a reverse mortgage? You can’t deduct the interest paid on it from your income tax base.