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my husbands employer wont allow us to take any $ from our 401k?
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03-28-2008
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my husbands employer wont allow us to take any $ from our 401k?
We are buying a new house yet there our repairs and some small reconstructions that need to be made in order to be suitable for our family. The only way they will let us withdraw money from our 401k is for the down payment. But our loan requires no money down.We have provided pictures of the needed repairs and they are denying it. We have a friend that works there that got some of his money for his divorce and know other people that have withdrew their money for various reasons.(that I dont know)
Is there anything that we csn do, a loop hole that we dont know about? Any advice is appriciated! Thanks! I do relize that it is OUR money but at my husbands company it is at the descretion of the human resources department to loan you YOUR OWN money. And we are not allowed to borrow aginst our 401k. The lady over the human resourced department told me flat out that the reason it is this way is so they are not burdened with the paper work. SOOOOO agrivating!!!!
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