tag:blogger.com,1999:blog-5465015914589377788.post1156526767573748026..comments2024-03-20T09:32:16.592-04:00Comments on Michael James on Money: Cash-Back MortgagesMichael Jameshttp://www.blogger.com/profile/10362529610470788243noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5465015914589377788.post-73381064609349464202020-11-11T23:14:20.235-05:002020-11-11T23:14:20.235-05:00The following comment is reproduced to remove a br...The following comment is reproduced to remove a broken link.<br /><br />----- Patrick April 28, 2011 at 1:17 PM<br /><br />I would have missed the shorter amortization. Subtle.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-79155579709860008392011-05-02T06:00:36.732-04:002011-05-02T06:00:36.732-04:00@Anonymous: According to the following CIBC page,...@Anonymous: According to the following CIBC page, the cash back is tax-free:<br /><br />https://www.cibc.com/ca/mortgages/article-tools/up-to-7prct-csh-bck.html<br /><br />I like your way of thinking, though. Always look for the catch.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-57509202542645573392011-05-01T22:14:37.758-04:002011-05-01T22:14:37.758-04:00In addition to this, I think cash back is added to...In addition to this, I think cash back is added to your personal income which would slash the real amount you will get ( I am not sure though ).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5465015914589377788.post-17405696602067162992011-04-28T13:24:41.764-04:002011-04-28T13:24:41.764-04:00@Patrick: When I first started thinking about cas...@Patrick: When I first started thinking about cash-back mortgages, it took me a minute to realize that it's important to match the outstanding balance after the 5-year term is up. This is how the bank makes sure that it gets back the cash-back money during the 5-year term in case the customer goes elsewhere to renew.Michael Jameshttps://www.blogger.com/profile/10362529610470788243noreply@blogger.com