You'll want to utilize the SMARTEST option available.

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Posted by Reinstatement Services, Inc. on November 24, 2004 at 10:37:43:

In Reply to: Re: Workout posted by Linda on November 24, 2004 at 10:29:38:

Certainly fully reinstating the loan will make all of the headache go away in one fail swoop. But, if an opportunity presents where you could accomplish your goals [to keep your home] and keep your 401 safely tucked away...why not?

You can accomplish this with a workout from your lender. You're on the right track. Just stay focused, persistent, and aware of the time lines.

Why take a penalty and tax hit from a 401 withdrawal when you don't have to?

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: Certainly fully reinstating the loan will make all of the headache go away in one fail swoop. But, if an opportunity presents where you could accomplish your goals [to keep your home] and keep your 401 safely tucked away...why not?

: You can accomplish this with a workout from your lender. You're on the right track. Just stay focused, persistent, and aware of the time lines. 

: Why take a penalty and tax hit from a 401 withdrawal when you don't have to?


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