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Buying cash an investment property after Loan modification.

I was just approved for a permanent loan modification with Bank of America and now I would like to buy an investment property using my 401k. Is it possible to do it without putting my primary home at risk 
  • February 15 2011 - Homestead
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Answers (4)

Clearly you will want to get some legal advise.  However, if your loan modification is completed and there are no conditions preventing you from investing then you probably have no issue investing.

Continued success!
  • February 16 2011
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Not knowing on what grounds was the loan modification given to you, makes it difficult to ascertain how you can been suffering a hardship to warrant a loan modification and at the same time have enough money to purchase an investment property?  Better check with a real estate attorney to see the implications.
  • February 16 2011
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Depending on your location you should find a real estate attorney who has experience with your county's law.  Some attorney's consult for free, if you can't find one ask a local Realtor for a referral.
  • February 15 2011
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I probably would not take advice from this forum for an important question like that, you need to ask your attorney.

Beth Jenkins 


  
  • February 15 2011
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