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    natoli1's Avatar
    natoli1 Posts: 1, Reputation: 1
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    #1

    Sep 8, 2007, 07:16 PM
    Chapter 13 and 401k
    I am in a chapter l3 and find I have to move from my rental home. Can I take the money from my 401k to purchase a used mobile home. It would not be a loan
    targa's Avatar
    targa Posts: 3, Reputation: 1
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    #2

    Sep 10, 2007, 10:46 PM
    Honestly it would not be worth it. You would have taxes and penalties on the early withdrawl and you can never make up what you take out. Treat this money as though it is not there, not an option to touch. No one can take it from you so why take it out? Do not jeopordize your retirement cause it will be here sooner than you think! Also mobile homes are probably the worst real estate investment you can make. They go down in value, not up. Try to rent what you can until you can afford to buy a single family home.
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