My husband is in the process of filling the form out to withdrawal from his 401K. For the reason he put to prevent eviction. We own a house and we are having trouble paying not just the house bills, but all of our bills. He is asking for $5000. I know as far as paper work and rules that he is eligible for the actual withdrawal, but how do we prove that we are in a tough situation as far as paying everything?
We haven’t actually gotten a foreclosure notice….I don’t know why it says eviction (isn’t that for renters)?
Anyway can someone help me with this? He asked me to mail it tomorrow, but I know they will need some kind of verification or proof.
What can we show them?….it’s simply a combination of things.
We had a situation this summer which caused us to be behind ever since.
We are not actually $5000 behind in mortgage, just wanted the funds to get caught up with our mortgage and bills….we ARE behind in our mortgage payments though.
They have already sent the form for us to sign. It just says something about verifying this…and I have no idea how to verify a multiple of situations…..because it’s not solely a mortgage problem.
well then tell me what ARE we supposed to do?? Make too much money for government assistance. Not enough to get back on our feet.
As I said, a situation came up this summer and we have been behind ever since.
What are we to do??
Making a withdrawal from 401K?
Posted in Landlord Tenant Law.