Legal

Ask a lawyer and get answers to your legal questions

Ask a Lawyer,
Get an Answer ASAP!

Legal? Well ok. We would like to borrow against our annuity.

Customer Question
Legal? Well ok. We...

Legal? Well ok. We would like to borrow against our annuity

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Ct

Lawyer's Assistant: Has anything been filed or reported?

No. I am not sure I understand

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No. We are coming close to our new homes closing date and haven't sold our house in CT yet

Submitted: 11 months ago.Category: Legal
Show More
Show Less
Ask Your Own Legal Question
Answered in 17 minutes by:
7/28/2017
Lawyer: Ray, Lawyer replied 11 months ago
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 48,155
Experience: 30 years in civil, probate, real estate, elder law
Verified

Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

Ask Your Own Legal Question
Lawyer: Ray, Lawyer replied 11 months ago

I would start with the annuity company.They might well loan against the annuity.You would have abetter chance at getting a loan from them since they hold the annuity principal.See if this is a possibility to resolve this situation.It is certainly possible if the annuity company will offer you such a loan and terms you can live with.I think they are your best shot.I also know that there are companies that would buy the annuity for cash, you could then put the funds into a new annuity once the house sells and resume having one.

These are your two options here in Connecticut.

Ask Your Own Legal Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Ray Your Own Question
Ray
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 48,155
48,155 Satisfied Customers
Experience: 30 years in civil, probate, real estate, elder law

Ray is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Ely

Ely

Counselor at Law

24,657 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

22,408 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

44,066 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo Senmartin

Guillermo Senmartin

Lawyer

300 satisfied customers

Principal Attorney at Guillermo J. Senmartin, P.A.

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

17,183 satisfied customers

Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.

< Previous | Next >

Related Legal Questions
Question - maybe you can assist - Hawaii. This has to do
this has to do with a home purchase - my daughter has been approved for a mortgage loan, she can qualify for 320,000.00 of a 733,500 mortage which we have decided to help her with the balance which will be around 450,000 thru a heloc ......anyway my question I want to have something legal that says she is borrowing these funds and if for some reason she can not pay accordingly, the house will come back to our trust. is this reasonable and can it be done- we need to have this together before closing … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
13,177 satisfied customers
I'm trying to sell sister (she in nursing home) with a
i'm trying to sell sister (she in nursing home) with a credit card lien place against it. will pay when house sells. Credit card company will not release lien until paid. Medicare is waiting on their … read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
37,040 satisfied customers
I am a general contractor. sorry. CT. I plan on closing my
No. I plan on closing my sole proprietor business. There is still a project yet to be completed. The customer will end up suing me. I would presume. Are my wifes assets at risk? the home is in her name. I also sold my future recivables to a funding company to get more capital. But the business is failing. I am also behind on the mortgage and the home is worth less than what she owes. … read more
Ray
Ray
Lawyer
48,155 satisfied customers
Our home is scheduled for foreclosure and we owe 16,000in back
Our home is scheduled for foreclosure and we owe 16,000in back taxes. My husband's annuity was reduced by 1500 earlier this year and he just stopped paying the taxes - as it is, we are currently makin… read more
Ellen
Ellen
Lawyer, Consultant
Doctoral Degree
8,238 satisfied customers
What is a CT This term was said to me by an Asset Manager.
What is a CT? This term was said to me by an Asset Manager. She stated it is a recording in the County that wipe out a deed. I've chech the County Records and cannot fine any thing abriveated or descr… read more
lwpat
lwpat
Doctoral Degree
256 satisfied customers
We are considering turning our house back to the bank as it
We are considering turning our house back to the bank as it has dropped to almost 1/2 of what we paid for it and can no longer keep making several thousand dollars/month in payments. Our question is: … read more
cfortunato
cfortunato
J.D.
7,967 satisfied customers
my parents passed away within 18 month of each other. Their
my parents passed away within 18 month of each other. Their home was given to me in their wills. I now own the home free and clear. We also have another home which we were living in prior to my parent… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
We are selling a home we own but my mother-in-law lives in,
We are selling a home we own but my mother-in-law lives in, she intends to sue us for 74,000. We are wondering if she files the suit before we close if she can stop the sell of the house? There is alo… read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,820 satisfied customers
I have recently placed an insurance claim for water damage
I have recently placed an insurance claim for water damage to my home. A water pipe froze and flooded my finished basement. The house is very close to foreclosure, and I am pretty sure the bank is goi… read more
LawTalk
LawTalk
Attorney at Law
Juris Doctor
128 satisfied customers
I live in Washington state and am currently renting a home
I live in Washington state and am currently renting a home that will be closing with new buyers in the next few days. Our lease (with the current owner) ends on the 30th of June. We had informed the l… read more
LawTalk
LawTalk
Attorney at Law
Juris Doctor
128 satisfied customers
My husband and I borrowed funds from National City Bank in
My husband and I borrowed funds from National City Bank in Ohio for a boat in the amount of: $296,643.44 on 8/12/03. We moved to Florida in 2005. We work in the construction industry and work has ceas… read more
legallysound
legallysound
Attorney
Doctoral Degree
1,324 satisfied customers
I sold my daycare in July of 08, with a second mortgage that
I sold my daycare in July of 08, with a second mortgage that the buyers are suppose to be paying me, however they haven't paid me one payment yet, what do I do ?… read more
Daniel Solutions
Daniel Solutions
Doctoral Degree
5,212 satisfied customers
Hi My wife and I borrowed money from a long time family friend
Hi: My wife and I borrowed money from a long time family friend we'll call "Joe", about a year and a half ago to consolidate bills so we could afford to get married. After our wedding my family friend… read more
Lady Themis
Lady Themis
Attorney
Doctoral Degree
65 satisfied customers
My husband is the owner of our former home. Two years ago
My husband is the owner of our former home. Two years ago I was told I would have to move to a one story home due to a debilitating condition in my back and knees. The first home had three sets of sta… read more
INFOLAWYER
INFOLAWYER
Attorney
Doctoral Degree
22,408 satisfied customers
I have a big problem, I am in Pakistan and I am not there ...
I have a big problem, I am in Pakistan and I am not there to help. My daughter is losing her home because her husband has been out of work. They live in Amherst, NY. They got a notice from the bank th… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I have two questions about bankruptcy,& live in ...
I have two questions about bankruptcy,& live in Illinois.Our home will soon be sold in a foreclosure auction,if it does not sell as a short sale before the 30th of this month.But one of my wife's cred… read more
CALawyer
CALawyer
Attorney
Juris Doctor
1,622 satisfied customers
THIS IS REAL ESTATE QUESTIONHAVE MY HOUSE UP FOR ...
THIS IS REAL ESTATE QUESTION HAVE MY HOUSE UP FOR SALE HOUSE HAS NOT SOLD YET ALSO BOUGHT NEW HOUSE WHICH CLOSED 6-26 BORROWED 425.000.00 FOR THIS HOUSE IF I BACK OUT OF NEW HOUSE WILL IT COST ME PENE… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
We received an ex parte motion for trustee process ...
We received an ex parte motion for trustee process attachment on two bank accounts: a business checking account and a personal joint chacking account. This came from a debtor of the failed business, b… read more
JoeLawyer
JoeLawyer
Attorney
Juris Doctorate
753 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x