Don't tap into your IRA or 401(k) to make payments on a hopelessly ...

There?s tons wrong with this survey of a company?s customers but it reminds me that you should never tap into your retirement account to make mortgage payments on a hopelessly under water house.

And if it?s hopelessly under water, I don?t think it?s in your best interest to draw down any of your savings to make mortgage payments.

Although I don?t represent short sale sellers since it?s such a specialization, a short sale can sometimes be in the best interests of the family.

I worry, however, that as the wave of short sales subsides that banks may start to play hardball with short sale sellers.

Source: http://www.arizonarealestatenotebook.com/2012/09/08/dont-tap-into-your-ira-or-401k-to-make-payments-on-a-hopelessly-under-water-mortgage/

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