Guest Donell Posted March 29, 2012 Posted March 29, 2012 I have a participant requesting a hardship distribution for the purchase of her principal residence. Her husband's name is on the loan documentation but she is not. I'm assuming this qualifies but just wanted to make sure. Her name will be on the deed but just not on the loan papers.
GBurns Posted March 29, 2012 Posted March 29, 2012 Iit is most likely that the "loan documentation" that you are referring to are the loan application papers and not the loan closing documents. Two different things. Very often 1 spouse is not on the application or even initial loan package papers, but is added at loan closing as a requirement of the closing documents. The loan closing documents should not be yet available for you to be seeing. George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
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