Archimage Posted April 22, 2002 Posted April 22, 2002 Does using a plan loan to keep a foreclosure from happening on your principal residence qualify a participant to amortize longer than five years?
Alan Simpson Posted April 22, 2002 Posted April 22, 2002 No. For a loan to be able to be amortized over a period longer than five years it must be for the PURCHASE of a principal resident or to repay a loan from a third party on the principal residence.
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