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House Foreclosure - 401k Being Held Hostage
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<blockquote data-quote="upsman67" data-source="post: 100250" data-attributes="member: 5606"><p>Walking away from $50k equity would not be wise. Neither is assuming that we don't manage money well. We had serious health problems in the family this year. </p><p> </p><p>Having saved to my 401k for the past 17 years, I have quite a healthy account, for which, all I want to do is take a loan from to catch back up. </p><p> </p><p>So, it's not mismanaging or the lack of having the money - the money is there, but being held up by the 401k administrator for no good reason. </p><p> </p><p>I hope that this doesn't happen to anybody else. These guidelines UPS sets with the 401k administrator need to be lifted in the next contract. We all work too hard for some third party to say, "no you can't" to your own hard earned funds.</p></blockquote><p></p>
[QUOTE="upsman67, post: 100250, member: 5606"] Walking away from $50k equity would not be wise. Neither is assuming that we don't manage money well. We had serious health problems in the family this year. Having saved to my 401k for the past 17 years, I have quite a healthy account, for which, all I want to do is take a loan from to catch back up. So, it's not mismanaging or the lack of having the money - the money is there, but being held up by the 401k administrator for no good reason. I hope that this doesn't happen to anybody else. These guidelines UPS sets with the 401k administrator need to be lifted in the next contract. We all work too hard for some third party to say, "no you can't" to your own hard earned funds. [/QUOTE]
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