Real estate blog entries tagged with irs down payment 401k by Edward McCaffrey, ABR, GRI, e-PRO (Page Taft Real Living)

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Home : Blogs : Edward McCaffrey, ABR, GRI, e-PRO : Essex and CT Shoreline Blog : Tag "irs down payment 401k"

irs down payment 401k: Need More Money for a Downpayment? Try your 401K!! - 02/25/09 07:22 PM

Recently, a buyer made an offer on one of my listings and a day before the mortgage commitment date, it was reported that the buyer needed more cash for the down payment. Seems the loan program he signed up for went away! In today's tough financing environment, I'm sure that this is not the first time that this has happened.
Where to get some cash? Borrowing from friends or relatives? (risky); Getting someone to co-sign? (may end a long term friendship); Borrowing from your 401K retirement account? (Maybe not a bad idea!!)
Yes, the IRS does allow a "hardship distribution" from … (2 comments)

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Edward McCaffrey, ABR, GRI, e-PRO

Essex, CT

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Page Taft Real Living

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