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Will be 59yrs. young next Mo. Have been unemployed for the last yr. with no money coming in.(Don't qualify for un-employment.) Not likely to ever get work again. I'am a Reg. Physical Therapist or was. There is no Work due to Medicare changes & HMO guidelines for the elderly.
I did not have an Emerengcy Fund when this Hit, but I was Totally bebt Free, No CC debt, house paied for, etc. Owed no-one.(Thank Heavens) Have 420K in a Tax deffered IRA. Elected to take out a Home Equity Loan rather than draw on my IRA & pay the 10% penality. Aware that I could forgo the penality, but I would have had to declare how much I would draw down each yr. & It could not be changed.Will be able to draw from my IRA in. Sept. By that time I will owe about 30k
on my house.Need advice--Pay off the House again or let the loan ride.Have Good Health Ins.Free. Thanks Fox
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