jamdown's Profile
Author's Posts
December 16, 2008
FICO Scores
I'm thinking about a refi but a preliminary check of my credit scores is showing a significant descrepancy between the credit report I receive from Credit Secure and the report pulled by the mortgage broker.
Should the information from the 2 sources be the same?
Author's Comments
jamdown wrote a review about Hammond's Bakery & Jerk Center on May 13, 2009 8:40 PM
definitely in Crown Heights
thank you both...off to Experian I go
Posted by: jamdown at December 16, 2008 6:46 PM in response to FICO Scores
jamdown wrote a review about Sugarcane on September 25, 2008 9:46 PM
oops..that should have been very good to worse
jamdown wrote a review about Sugarcane on September 24, 2008 11:30 PM
food's gone from very bad to worse over the years. Service went downhill too. They gave my reservation to another party..not that we were late..another party walked in off the street prior to our arrival and they gave them our table. That plus the quality of the food and the service..never went back..a shame because it was a fav. THe music does tend to be too loud
jamdown wrote a review about Madiba on September 15, 2008 2:25 PM
alas..no more glass jars...that was definitely part of the charm..the new glasses are smaller..
Responses to Author's Forum Comments
It's great to take advantage of the IRA for first time home purchase and if it is a Roth IRA then no penalty or taxes on it. FOr your 401 K it's also great that you can take out a loan. Either way it's a good way of financing the purchase- I did it this way and was fortunate enough to catch up on my retirement savings and far surpass what I had used in about 5 years.
Posted by: argentina at July 22, 2009 11:11 PM in response to Tapping 401(k) for Purchase?
It really is a good advantage if you have money invested in a 401k account, enough to buy you a house for preferably cash. For instance, assume you have $150k cash in your 401k, experts suggest rolling it over to a Self directed IRA from which you can use the funds (100% of the funds) to buy a house. However, the percentage of money you should take out from your self directed IRA depends on the amount of savings you have.
Once you have a self-directed IRA set up, consider purchasing actual physical real estate by withdrawing funds from your IRA to make a down payment on the home, and get a mortgage, or if you have enough funds, purchase the entire home by paying 100% cash.
Source: http://www.research401krollover.com/
You are not allowed to take a mortgage from your IRA, like how you would take out a loan from your 401(k) and pay it back in a certain period of time. When purchasing property from your IRA, remember this key point that all gains you make from this property such as rental income, capital gains, etc must be contributed back in to your IRA.
Posted by: cocojambo at November 14, 2009 12:07 PM in response to Tapping 401(k) for Purchase?
I borrowed from my 401k and changed jobs a yr later..i did not have to pay back the loan..i continued to make payments directly to T Rowe. Its specific to the t&cs of your plan.
Posted by: jamdown at July 22, 2009 10:42 PM in response to Tapping 401(k) for Purchase?