There are a couple of people you should consult: 1) your financial advisor first to see what the terms of withdrawl are, and the penalties and taxes, if any. If you are able to use this method to pay down your debt, then you will most likely need to show that documentation to the lender on the first mortgage. They will generally have to approve of the terms for any subordinate financing.
Rules may also be different depending on your loan amount.
Let us know what happens and good luck to you!
be careful here.
You are possibly talking about paying an additional 33% in taxes give or take.
I think you should consult a financial advisor who is a CPA before you do this.
This is not the optimal place to get advice for finance ideas.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate Broker License # 01312992
Here is a company which lends you money for your Securities. I am not recommending this company, nor this type of solution.
Please do all the due diligence and talk to them at your own risk. Google and you may find other similar companies.
IRA rules are different and so please consult your Financial Planner/Tax consultant to get the best picture.