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  1. Doghouse
    Any thoughts on the following situation would be much appreciated. I'm getting a headache. 1/1/2009 participant takes out general purpose loan, term 5 years. 1/1/2010 participant refinances this loan as a principal residence loan, term 10 years. 5/1/2013 participant requests to refinance this loan again, for a new principal residence. Additional principal will be borrowed. The 10 year maturity date from the first refinance will be retained. Some additional facts: Vested account balance including all outstanding loan balances = $80,000 Outstanding loan balance immediately prior to new refinance request = $24,000 Highest outstanding balance in prior 12 months = $26,000 Is this new refinance permissible? I would be a lot more comfortable with it if the original loan hadn't been for a 5 year term. Dog
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