money market=unencumbered funds?

Canada Immigration Forum (discussion group)


 
       
Subject: money market=unencumbered funds?
  hi all,
pls someone who´s expert about financial answer my silly questios (seriously, I really don´t know anything about it)...are money market or stock options considered to be unencumbered funds? it has a maturity time, but it can be cashed in those certain time. pls advice. thanks.

[06-12-2005,05:57]
[**.0.119.43]
cowboys night
(in reply to: money market=unencumbered funds?)
hey, no question is silly, cic doesn´t have answer for this question.

should be fine I bet, I use that for my proof of fund, group RRSP held in mutual fund, so far, nothing heard back from CIC.

[06-12-2005,15:54]
[**.66.36.59]
Departure bay
(in reply to: money market=unencumbered funds?)
can you and will you cash it to come to Canada on XXX date. If you take taxes and penalties (where applicable) will you still be left with require funds.

the remaining balance would be what I consider your settlement funds.


[06-12-2005,19:44]
[***.181.198.246]
Sharon
(in reply to: money market=unencumbered funds?)
unencumbered funds meaning that they funds are not tied to some form of assets.

For example in Canada you can get a loan for investment purposes such as RRSP, however you are not able to withdrawn the money from the investment because you still owe the bank or the investment house therefore the funds would not be unencumbered. Similarly, if you were to purchase land or have a business account that require you to maintain a certain amount in the bank, that money would no longer be unencumbered because there are restriction to the use of those funds.


[06-12-2005,19:54]
[***.246.61.1]
Katrina
(in reply to: money market=unencumbered funds?)
thanks guys, those were helpful!
do you think they are not going to ask fot recent ONE sometime later? yes, the maturity date will be about the same time as my "future" canada visa validation. I am waiting for my IA (buffalo, SW) and I enclosed my money market certificate (copy) along with my application.
Sharon ; I hope it should be enough.
it was about 10 grand USD after tax etc and it keeps going up at the moment, and also I sent my bank statement for about same amount (well, a li´l less). do you think it´s enough for the family of 5????
pls comment! thx.

[08-12-2005,09:01]
[**.0.119.43]
cowboys night
(in reply to: money market=unencumbered funds?)
Hi cowboy

so your total is about US$20K....I think that´s enough since the required for a family of 5 is only CAD 21K++

you should be okay for now though they may or may not ask for an update later on.

[08-12-2005,22:48]
[**.83.183.160]
Joe05
money market=unencumbered funds? (in reply to: money market=unencumbered funds?)
guys

afhter i read all this can someone tell me that this unemcumbered funds means only money in the bank and not estates asset rigth??

thx

shahryar

[03-11-2008,08:20]
[***.207.243.249]
shahryar
(in reply to: money market=unencumbered funds?)
you say you have a $400,000 house. you forget to say you have a $399,000 mortgage. You have $1,000 in unencumbered funds.
[03-11-2008,14:26]
[**.155.160.37]
Sharon
(in reply to: money market=unencumbered funds?)
say I have a house with no morgage on it is it an unencumbered fund
[05-07-2010,06:42]
[***.165.148.194]
Manal
unencumbered funds (in reply to: money market=unencumbered funds?)
my bank cert stated only 13,407 cnd dollars at the present time applying for provincial nominee program for family (4 members), im worried if it will lessen my chances to be nominated by the province of manitoba.
[25-03-2011,07:31]
[**.97.78.120]
liza
Reply to the money market=unencumbered funds? posting
Submission Code (SX22696) Copy The Code From The Left found in the brackets
Name
Email
Reply Subject
Reply Message


Canada Immigration | Forever Living Products in Canada