A new bill is being proposed that would allow homeowners to tap into their 401(k) accounts to make their mortgage payments as well as to play catch-up on past-due payments without having to pay the stiff 10% early withdrawal tax. But is this really a good idea? Would this just keep people in their overpriced homes longer? If homeowners wind up giving back their homes (or selling via a short sale), then the result is the same AND they no longer have the 401(k) safety net. Is this really good for people?
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved