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<blockquote data-quote="satellitedriver" data-source="post: 711491" data-attributes="member: 1664"><p><strong><span style="color: DarkGreen">Red,</span></strong></p><p><strong><span style="color: DarkGreen">Please!!!!,</span></strong></p><p><strong><span style="color: DarkGreen">do not cash in your CD's.</span></strong></p><p><strong><span style="color: DarkGreen">You can easily get a loan from the bank that issued the CD's to you.</span></strong></p><p><strong><span style="color: DarkGreen">The standard loan rate is 2% to 3% over the percentage rate of return of the CD, depending on the amount of the loan. </span></strong></p><p><strong><span style="color: DarkGreen">The penalty rate for cashing out a CD early can cost you big time.</span></strong></p><p><strong><span style="color: DarkGreen">-( cashing out penalties are not governed by law, they are at the discretion of the bank)-</span></strong></p><p><strong><span style="color: DarkGreen">Normally, you can borrow 90% of the value of the CD. </span></strong></p><p><strong><span style="color: DarkGreen">The CD guarantees the the loan .</span></strong></p><p><strong><span style="color: DarkGreen">-( it is your money that you are borrowing)- </span></strong></p><p><strong><span style="color: DarkGreen">When you get back on your feet you can pay it off, or let the CD pay it off, and it will not effect your credit score.</span></strong></p><p><strong><span style="color: DarkGreen">Money is always about the percentages over time.</span></strong></p><p><strong><span style="color: DarkGreen">I have never" looked" into borrowing against my 401k, but I am sure one could do it, at a severe long term cost.</span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen">Believe it or not, </span></strong></p><p><strong><span style="color: DarkGreen">one day you will look back at these days as the "Good Ole days".</span></strong></p><p><strong><span style="color: DarkGreen">I know you will do everything, to protect and provide for your beautiful family.</span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen">Take care,</span></strong></p><p><strong><span style="color: DarkGreen">Steve</span></strong></p><p> <strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"> </span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p><p><strong><span style="color: DarkGreen"></span></strong></p></blockquote><p></p>
[QUOTE="satellitedriver, post: 711491, member: 1664"] [B][COLOR=DarkGreen]Red, Please!!!!, do not cash in your CD's. You can easily get a loan from the bank that issued the CD's to you. The standard loan rate is 2% to 3% over the percentage rate of return of the CD, depending on the amount of the loan. The penalty rate for cashing out a CD early can cost you big time. -( cashing out penalties are not governed by law, they are at the discretion of the bank)- Normally, you can borrow 90% of the value of the CD. The CD guarantees the the loan . -( it is your money that you are borrowing)- When you get back on your feet you can pay it off, or let the CD pay it off, and it will not effect your credit score. Money is always about the percentages over time. I have never" looked" into borrowing against my 401k, but I am sure one could do it, at a severe long term cost. Believe it or not, one day you will look back at these days as the "Good Ole days". I know you will do everything, to protect and provide for your beautiful family. Take care, Steve [/COLOR][/B] [/QUOTE]
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