Full Version: Hardships - Refinancing a Primary Residence
Can costs associated with the refinancing of a primary residence be taken as a hardship under a 401(k) plan if the participant is otherwise eligible for a hardship and the refinancing is not needed to prevent a foreclosure? I don't believe so, but was wondering if any recent guidance had come out to help participants even if they are not in financial distress.
It doesn't fit the hardship safe harbor categories.
If your not using the hardship safe harbor categories, is refinancing a house where mortgage foreclosure is not at issue a hardship? I doubt it.
If your not using the hardship safe harbor categories, is refinancing a house where mortgage foreclosure is not at issue a hardship? I doubt it.
QUOTE (J Simmons @ Mar 5 2009, 05:01 PM) 
It doesn't fit the hardship safe harbor categories.
If your not using the hardship safe harbor categories, is refinancing a house where mortgage foreclosure is not at issue a hardship? I doubt it.
If your not using the hardship safe harbor categories, is refinancing a house where mortgage foreclosure is not at issue a hardship? I doubt it.
Thank you, John. Those were my thoughts as well.
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