Having Buyer’s Remorse Could Waste An IRA Distribution
October 23rd, 2008 | by admin |These days, the American dream of home ownership may seem further away for many people who do not have a down payment. This is when withdrawing money from your simple IRA can be beneficial. You can receive a penalty free distribution in order to purchase, build or even rebuild a home. What’s more, the funds can be withdrawn for yourself, your spouse, a child, a grandchild, or a parent. The funds must be for a first-time homebuyer and used to pay acquisition costs within four months after the distribution is made. Just make sure you can comfortably afford the house so that there are no regrets.
