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re: Is borrowing against your 401(k) for a home down payment a good idea?
Posted on 12/14/13 at 8:33 pm to Bayou Tiger
Posted on 12/14/13 at 8:33 pm to Bayou Tiger
One drawback that people fail to realize when borrowing against a 401k....if your company goes out of business, gets acquired or you get terminated/released....the balance of the loan is due within 30 days or it becomes taxable income!!!
Posted on 12/14/13 at 8:53 pm to lsu2grad
Playing with fire I wouldn't do it.
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