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Should I touch IRA and pay mortgage with funds?

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Guest	Posted: Tue Jan 26, 2010 12:56 pm    Post subject: Should I touch IRA and pay mortgage with funds? Like 0 Dislike 0 I am up a creek...I AM 2 MONTHS BEHIND ON MY MORTGAGE AND HEAVILY IN DEBT WITH CREDIT CARDS. I have about 9,000.00 in an ira. Should I touch it and try and get mortgage current?
Niicss Joined: 03 Oct 2005 Posts: 4770 Location: New Jersey 499.28 Dollars($)	Posted: Wed Jan 27, 2010 2:42 am    Post subject: Like 0 Dislike 0 I won't suggest you to take a loan from your IRA account. Rather, you can contact your lender and apply for a loan modification. If your loan is modified, the lender would lower your interest rate. Thus, your monthly payments would be lowered which will make it easier for you to pay off the loan. As far as your credit card debts are concerned, you should contact your lender and try to consolidate them and pay them off.

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