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dreed63

Guest
i can borrow money from my profit sharing plan. if i want a 10 year payback plan it has to be for a new home purchase. they send an affidavit i have to sign stating due to federal law all the money has to be used for the purchase of a home. what are the penalties if it is used for something else?
 


H

HomeGuru

Senior Member
dreed63 said:
i can borrow money from my profit sharing plan. if i want a 10 year payback plan it has to be for a new home purchase. they send an affidavit i have to sign stating due to federal law all the money has to be used for the purchase of a home. what are the penalties if it is used for something else?
Click to expand...
My response: ask they.
 
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