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Can I borrow from my NH 457 retirement plan to help finance a mortgage

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jarcidia1 Joined: 16 Mar 2011 Posts: 1 1.26 Dollars($)	Posted: Wed Mar 16, 2011 8:53 pm    Post subject: Can I borrow from my NH 457 retirement plan to help finance Like 0 Dislike 0 Is there any penalty or income tax associated with a short term withdrawl (6 months) for NH's 457 retirement plan?
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu Mar 17, 2011 12:39 am    Post subject: Like 0 Dislike 0 Hi jarcidia, As far as I know, if you take out a loan from your retirement and cannot pay it off within the stipulated time period, you will be liable for paying a penalty. _________________ Procrastination is the enemy of your financial success
tomburris Community Expert Joined: 03 Oct 2007 Posts: 135 Location: North Dallas 19.12 Dollars($)	Posted: Thu Mar 17, 2011 3:08 pm    Post subject: Like 0 Dislike 0 Contact your Plan Administrator to see if you can borrow from it and all of the terms. This is allowable for a mortgage _________________ Tom Burris Mortgage Banker 214-763-4629 cell/text/nights/weekends http://www.dallasloanguy.com/ Location: North Dallas, TX Coverage: The entire Great State of Texas NMLS# 335055

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