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Subject:  2nd Mortgage/retirement funds ? Date:  1/3/2013  6:13 PM
Author:  Otter9 Number:  260115 of 278300

First time poster here. I know it's a big no no but I wanted to take my Roth IRA funds and payoff a 2nd mortgage ($40,000) that I am paying 9% on. I can't refinance and include it due to current value of the home and the 80/20 restrictions.

With this done I would refinance my current home again lowering those payments to be paid back to the Roth

On top of that I finally (5 yrs) sold my old home so I have about $500 extra (I rented it) to pay back my Roth.

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