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i live in nevada. can a lender tap my 401k if i apply for any type of loan mod or worst case go into foreclosure?

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rttorrens Joined: 27 Oct 2010 Posts: 1 1.27 Dollars($)	Posted: Wed Oct 27, 2010 7:35 pm    Post subject: i live in nevada. can a lender tap my 401k if i apply for an Like 0 Dislike 0 I am faced with reduced income and will need to work out something with my lender in hopes of staying in my home. Should they not want to work with me i may have to walk. Regardless of what happens i want to know if my 401k is in jeapordy of being taken by my lender?
sara Moderator Joined: 05 Jul 2006 Posts: 2699 Location: New Brunswick, New Jersey 497.27 Dollars($)	Posted: Thu Oct 28, 2010 2:56 am    Post subject: Like 0 Dislike 0 Hi rttorrens, The lender cannot take away your retirement income if you are unable to pay off your mortgage or your property goes for a foreclosure. However, he can garnish your wages or your savings account if you do not pay off the mortgage. Take care.

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