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My husband borrowed from his 401k to use as a down payment for a home purchase which we received and deposited into his checking account.
The purchase fell through because of a problem with that specific house and we had to cancelled the purchase contract. We will now be looking for another property to purchase.
Do we need to let his 401 company know what happened, or just move forward with looking for something else to buy, since they previously requested copies of the purchase contract of that first home that we ended up not buying. Also, what if we need to now borrow more money from the 401k. Will they then ask about what happened to the first purchase. We just want to do whats right.
Ideally you wont have to actually move any money out for your 401ks, bank of ireland personal loan rates just use it as proof of reserves. Your broker should know best how to structure the citi personal loans plus knowing who has what assets available.