Thread Status:

Not open for further replies.

1. Aug 22, 2007 #1
   

   stacynyc Law Topic Starter New Member

   Messages:

   26

   Likes Received:

   0

   Trophy Points:

   0

   I and my fiance are looking for our first house. He has some money saved in roth IRA, metlife life insurance and 410B fund. If he withdraws the money from these accounts, will he get penalized? Will he have to pay taxes upon withdrawl if he invests all the money into his first house?
   Thank you

    

   stacynyc, Aug 22, 2007

   stacynyc, Aug 22, 2007

   #1
2. Aug 31, 2007 #2
   

   Michael Wechsler Administrator Staff Member

   Messages:

   9,219

   Likes Received:

   644

   Trophy Points:

   113

   
   

   My understanding (and I'm not a specialist in this area) is that if you do early withdrawal you are penalized. You may want to discuss this with your mortgage broker who may be familiar with your situation and can direct you. Good luck with your new home!

    

   Michael Wechsler, Aug 31, 2007

   Michael Wechsler, Aug 31, 2007

   #2

Share This Page

Thread Status:

Not open for further replies.

• Log in with Facebook
• Log in with Twitter
• Log in with Google

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in