On Wed, 21 Jul 2010 20:44:55 -0600, Canuck57
wrote:

On 21/07/2010 6:59 PM, bpuharic wrote:
On Wed, 21 Jul 2010 20:03:06 -0400, wrote:



I'm going to try to guess what you meant to say...

Loan applications usually are interested in liquid assets. 401K
accounts don't count. I ralize they can be liquidated but loan officers
aren't interested in that.

401k's are liquid assets if you take a tax penalty

not too bright, are you?

and what makes you think loan officers arent interested in money?


But you would be wholely stupid to do that, taking money out of a
IRA/401k prematurely is about as dumb as it gets. And "rich" people
don't look at dumb things as valid options.

i agree it's DUMB to raid your 401K. but that is irrelevant in a loan
application.


Want to be rich, just means you have to do what it takes to be on the
right end of that transaction. Save money and loan it to people who
will pay it abck with interest.

or get greedy and invent new forms of bull**** like CDO's then get
george bush, ronald reagan, etc., to call this free enterprise