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re: Is borrowing against your 401(k) for a home down payment a good idea?
Posted on 12/16/13 at 8:42 pm to Putty
Posted on 12/16/13 at 8:42 pm to Putty
quote:
In that case you neither "borrowed from yourself" not "paid yourself interest." Rather, you took a bank loan and posted exempt assets as collateral and added serious tax consequences to the list of your problems in the event of a default. Why not just take a bank loan?
serious tax consequences? You clearly have no clue what you're talking about. 
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