- This topic has 95 replies, 13 voices, and was last updated 15 years, 6 months ago by
moneymaker.
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June 19, 2009 at 2:32 PM #417646June 19, 2009 at 7:06 PM #418465
SK in CV
ParticipantBS
There may be some circumstances where divesting a retirement plan “might” be required. They “might” require you to name your first child Earwig. The latter is only slightly less likely. But lenders do not have a an absolute rule that requires divestiture for all mods. I haven’t dealt with all of them, but enough to go out on a limb and say that no lenders have any requirements for all loans even vaguely similar to that.
June 19, 2009 at 7:06 PM #418238ParticipantBS
There may be some circumstances where divesting a retirement plan “might” be required. They “might” require you to name your first child Earwig. The latter is only slightly less likely. But lenders do not have a an absolute rule that requires divestiture for all mods. I haven’t dealt with all of them, but enough to go out on a limb and say that no lenders have any requirements for all loans even vaguely similar to that.
June 19, 2009 at 7:06 PM #418303ParticipantBS
There may be some circumstances where divesting a retirement plan “might” be required. They “might” require you to name your first child Earwig. The latter is only slightly less likely. But lenders do not have a an absolute rule that requires divestiture for all mods. I haven’t dealt with all of them, but enough to go out on a limb and say that no lenders have any requirements for all loans even vaguely similar to that.
June 19, 2009 at 7:06 PM #417976ParticipantBS
There may be some circumstances where divesting a retirement plan “might” be required. They “might” require you to name your first child Earwig. The latter is only slightly less likely. But lenders do not have a an absolute rule that requires divestiture for all mods. I haven’t dealt with all of them, but enough to go out on a limb and say that no lenders have any requirements for all loans even vaguely similar to that.
June 19, 2009 at 7:06 PM #417743ParticipantBS
There may be some circumstances where divesting a retirement plan “might” be required. They “might” require you to name your first child Earwig. The latter is only slightly less likely. But lenders do not have a an absolute rule that requires divestiture for all mods. I haven’t dealt with all of them, but enough to go out on a limb and say that no lenders have any requirements for all loans even vaguely similar to that.
June 19, 2009 at 7:52 PM #418262mwtosd
ParticipantDo NOT do it. If one declares bankruptcy, your 401k is protected.
If you touch the 401k to save a home or pay credit cards, and you fall behind again or fail to get through the mess, then you lost that money you took out of the 401k and then have to declare bankruptcy, you lost even bigger time.
On top of what formersandiegan says about the penalties and taxes you have to pay if you are under 59.5yo. Bad all around idea!
June 19, 2009 at 7:52 PM #418329ParticipantDo NOT do it. If one declares bankruptcy, your 401k is protected.
If you touch the 401k to save a home or pay credit cards, and you fall behind again or fail to get through the mess, then you lost that money you took out of the 401k and then have to declare bankruptcy, you lost even bigger time.
On top of what formersandiegan says about the penalties and taxes you have to pay if you are under 59.5yo. Bad all around idea!
June 19, 2009 at 7:52 PM #418000ParticipantDo NOT do it. If one declares bankruptcy, your 401k is protected.
If you touch the 401k to save a home or pay credit cards, and you fall behind again or fail to get through the mess, then you lost that money you took out of the 401k and then have to declare bankruptcy, you lost even bigger time.
On top of what formersandiegan says about the penalties and taxes you have to pay if you are under 59.5yo. Bad all around idea!
June 19, 2009 at 7:52 PM #418489ParticipantDo NOT do it. If one declares bankruptcy, your 401k is protected.
If you touch the 401k to save a home or pay credit cards, and you fall behind again or fail to get through the mess, then you lost that money you took out of the 401k and then have to declare bankruptcy, you lost even bigger time.
On top of what formersandiegan says about the penalties and taxes you have to pay if you are under 59.5yo. Bad all around idea!
June 19, 2009 at 7:52 PM #417767ParticipantDo NOT do it. If one declares bankruptcy, your 401k is protected.
If you touch the 401k to save a home or pay credit cards, and you fall behind again or fail to get through the mess, then you lost that money you took out of the 401k and then have to declare bankruptcy, you lost even bigger time.
On top of what formersandiegan says about the penalties and taxes you have to pay if you are under 59.5yo. Bad all around idea!
June 20, 2009 at 9:55 PM #4186335yearwaiter
ParticipantSuckers finally trying to land on our 401k too !! how funny if that is the corner this mortgage mod focus is getting spread
June 20, 2009 at 9:55 PM #418699ParticipantSuckers finally trying to land on our 401k too !! how funny if that is the corner this mortgage mod focus is getting spread
June 20, 2009 at 9:55 PM #418141ParticipantSuckers finally trying to land on our 401k too !! how funny if that is the corner this mortgage mod focus is getting spread
June 20, 2009 at 9:55 PM #418370ParticipantSuckers finally trying to land on our 401k too !! how funny if that is the corner this mortgage mod focus is getting spread
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