Selling Your Annuity To Cover Home Payments

SELLING YOUR ANNUITY то COVER HOME PAYMENTS The average structured settlement payout is $324,000 OVER $6 is paid each year to fund new structured settlements. MILLION Selling off an annuity can trigger surrender charges as high as 10%, and those who sell before age 59 1/2 can also face federal taxes and 10% penalties. Structured settlements are attractive because they generally provide tax-free income for life. Yet, sometimes cashing in is the only option. That $500 monthly payment from an old accident may have helped with medical bills early on, but if the beneficiary lost his job and fell behind on some bills or had to make significant costly repairs to his home, a lump-sum payout of $50,0000 may seem quite enticing. The median cost of a new home as of $281,500 October 2015 is. The average cost of a new home as of $366,000 October 2015 is Most mortgage lenders require a cash down payment of 5, 10, or 20% of the sale price. 5,10, or 20% The average U.S. household carrying $165,892 mortgage debt owes 92% OF PEOPLE of claimants who sell their structured settlement are satisfied with their decision. SOURCES: moneyeconomics.com bankrate.com/finance/debt/want-settlement-cash-now-not-so-fast-1.aspx census.gov/construction/nrs/pdf/uspricemon.pdf bankrate.com/finance/mortgages/down-payment-1.aspx nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household nyujlpp.org/wp-content/uploads/2012/11/Jeremy-Babener-Structured-Settlements-and-Single-Claimant-Qualified- Settlement-Funds-Regulating-in-Accordance-with-Structured-Settlement-History.pdf Brought to you by: (123 LUMPSUM www.123lumpsum.com