Posts Tagged "child"

How can I get money out of my 401k for a home downpayment without child support taking it first?

on Jan 17, 2013 in Stated Income Loans | 5 comments

Check out these mansion images: Mansion Facade Image by Steve Parker Searching along the front of the mansion, abortion buy more about previous the entrance with the new griffins in attendance. For far more houses click right here… Mansion & Boats Image by kahunapulej Mansion and boats in Rhode Island More excellent houses click here… Question by tvan: How can I get money out of my 401k for a home downpayment without child support taking it first? I need a down payment for a home loan due to a separation. The child support agency takes any money I am entitled to. Tax refunds, for sale severance pay, pilule etc. My 401k is all I have left to put a down payment on a home. Is there anyway to get around the child support nazis and get the money to a bank for a downpayment? Best answer: Answer by rtfmThe child support agency only takes the money your *CHILDREN* are entitled to. It might mean renting for a while instead of buying, ambulance while you get your legal obligations to your family taken care of. If that’s what it means, then that’s what you have to do. Taking money out of your 401(k) for *any* reason is a bad idea anyway. You’ll pay regular income tax rates on what you withdraw, *plus* another 10 percent penalty. And then you’ll wind up with no money to live on once you retire. It’s just a really poor choice. Add your own answer in the comments! How can I get money out of my 401k for a home downpayment without child support taking it...

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Does having a child (a dependent) give you any help in getting a FHA loan? Or more $ in it?

on Aug 1, 2012 in FHA Information | 6 comments

Question by : Are FHA Private Mortgage Insurance Monthly Premiums tax deductible if you bought a home in 2011? I saw that homes purchased between 2007 and 2010 that were financed with FHA loans allow for the FHA Monthly mortgage insurance premiums to be tax deductible if you itemize. Does this include any homes purchased in 2011? Best answer: Answer by LandlordNo PMI is not deductable Give your answer to this question below! by eyewashdesign: A. Golden Income Mortgage Stated – Get a Loan Without Proof of Income There is an income mortgage stated program that is a type of mortgage loan program where it is actually part of the “no-doc” and the “low doc” loans. This means that there isn’t normally any documentation required for the loan to be approved. This makes the loan very popular among many people as they do not have to first run around and find documentation to prove their income and other information. When you go for a conventional mortgage you will pay back less interest, prostate but it might be more difficult for you because you will have to provide the following; Last three paychecks Return tax forms for the last two years A list of all creditors Two month bank statement Certain legal documents In some cases these will not even be all of the documents you need. Some places could be more strict than others when it comes to who they loan money to, malady but this is the best way because you will not have such a high interest to pay back. It should be very reasonable. With the income mortgage stated you will not need all of that information just to get the loan. If you have a stable job but you cannot prove that you have a stable income you will choose this type of loan. However, you should at least have a good credit history when you want to apply for a loan like this one. All you would need to do besides have good credit is be able to state your income for the past two years or longer. Remember that with this loan you will probably pay back a lot as the interest will be higher. So it is great for the time when you need the money, but when reality hits months later that you need X amount to start your repayments, many people find themselves in situations where they cannot cope. just make sure that you understand the terms under which the loan is taken and that you will be able to pay it back, no matter what the interest rate may be. More informaiton please visit here… Stated Income Loans – FREE Ebook helps you Find MILLIONS in Private Money FAST for Real Estate Investing! Bad Credit? No Problem! No more having to qualify! If you would like to see more homes click here… Question by : Does having a child (a dependent) give you any help in getting a FHA loan? Or more $ in it? I am looking online at mortgage loan calculators and “what you can afford” calculators. One asked more details questions: What state and county am I in, visit this and how many children do I have. Does having a child give us a better chance of getting a higher amount in our loan? I have a baby on the way, so I am just interested in how it works. Any help is appreciated thanks! Edit: When I told the calculator that I did have one dependent, it gave me almost 10k more. Not less....

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