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Which Lender will take NQ Annuity as Collateral?

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Question: 
Which lender will take a NQ annuity as collateral for a loan?
Answer: 

Probably none. If I'm not mistaken early distributions from an annuity carries the same 10% penalty and tax obligations as IRA early distributions do.

However, you may still want to contact banks in your market area to see what their policies may be.

First published on BankersOnline.com 8/1/11

First published on 08/01/2011

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Filed under lending as: 

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