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Personal Finances / Buying or Selling a Home

URL:  https://boards.fool.com/since-you-have-to-withdraw-the-money-anyway-34269650.aspx

Subject:  Re: Mortgage Date:  8/9/2019  1:26 PM
Author:  kitsapkidd Number:  129245 of 129289

Since you have to withdraw the money anyway, might as well do so in a way that the mortgage lenders like to see.

And my guess is once the loan is set up and running, if that monthly RMD W/D isn't to your liking you could change your RMD withdraw back to your preference*. I don't think that would be considered mortgage fraud PROVIDED you serviced/paid the loan according to its provisions.

I think of it akin to losing any income stream (job, etc) used to qualify for the loan. As long as you're making payments on time, your loan probably isn't looked at after the initial approval unless they're selling it. But that's a guess & I could be wrong since it would be a voluntary action changing the W/D.


* I prefer to take it early but the market might dictate otherwise in some years.
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