Ira Withdrawal With No Penalty
July 29th, 2005
Question: Use IRA funds to prevent a forclosure?
I have real estate that I can no longer make mortgage payments?
Is there any way I can use money from an IRA to pay my loan? Without all the penalties associated with Early Withdrawal? Is there some a hardship waiver?
Answer: No.
Assuming that it was a deductible Traditional IRA, there are no exceptions to paying the tax. There are a few exceptions to paying the 10% penalty but avoiding foreclosure is not one of them.
Jump through hoops, no penalty
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