Posted on: 06th Mar, 2011 07:41 am
Hello,
I was divorced about 2 years ago and I am now remarried and want to purchase a house or apartment. In a nutshell, my credit was trashed in my divorce and the only money that I have available is about 150k in my 403b. I have been at my job for a long time and earn above 100k annually. My question is: How can I borrow against my 403b? Do I need to work with an attorney or accountant in order to do this?
Thanks in advance for any advice...
I was divorced about 2 years ago and I am now remarried and want to purchase a house or apartment. In a nutshell, my credit was trashed in my divorce and the only money that I have available is about 150k in my 403b. I have been at my job for a long time and earn above 100k annually. My question is: How can I borrow against my 403b? Do I need to work with an attorney or accountant in order to do this?
Thanks in advance for any advice...
The plan administrator will have your 'terms' and those terms will spell out whether you can borrow from the plan or not. The plan admin will be someone in your HR dept most likely
In my experience, I haven't seen one that you CAN withdraw from.
In my experience, I haven't seen one that you CAN withdraw from.
Welcome hunabku,
You can contact your employer and he/she might help you in getting a loan from your 403b account.
You can contact your employer and he/she might help you in getting a loan from your 403b account.
