TPA Bob Posted February 13, 2013 Posted February 13, 2013 Participant is requesting a hardship distribution to provide enough funds to create 20% equity in the home he is acquiring, presumably to avoid PMI. The safe harbor language says "costs directly related to the purchase of a principal residence."Any comments would be appreciated.
PensionPro Posted February 13, 2013 Posted February 13, 2013 If participant wants enough to make a 20% down payment to purchase principal residence it would qualify, imo. PensionPro, CPC, TGPC
masteff Posted February 13, 2013 Posted February 13, 2013 Agree. Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra
30Rock Posted February 2, 2015 Posted February 2, 2015 Would a hardship distribution request to "build" a house qualify? Thanks!
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now