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[quote=Anonymous][quote=Anonymous][b]I was laid off from my job last month and miraculously found a better paying job 2 weeks later. [/b] So, I want to buy a house. I have $100k and need $200k for down payment. I had a small pension from my old job and after doing the math I am better off taking the lump sum. The lump sum is about $200k and If I transfer it to retirement account I'll avoid taxes. I am thinking of transferring $80k to my IRA and taking $120k in cash. With the $120k, I can use $100k and use it toward the down payment and have $200k. Would you do it? I am 44 years old.[/quote] Ask a mortgage lender or broker for advice as you may encounter a problem regarding employment for only a few weeks with your new employer. If you qualify for a mortgage, then it is really more of a personal preference based on one's overall living & financial situation as well as one's psychological comfort level with debt.[/quote]
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