Is there way to get loan from my IRA to pay off 2 mortgages?

[Hanna Minkin]

Is there way to get loan from my IRA to pay off 2 mortgages? I wanted to use my IRA to pay off mortgages if its allowed. I have 20 years b4 retirement but not looking to work that long.

[Greg Scott]

Sure you can do it.  But, I have to ask why would you want to?

By dong this, you basically take a payment that is partially a tax deduction and turn it into a payment that isn't.  Also, you make it harder for yourself to access cash when you might need it, whether for emergencies or more investing.

I'd go the other way. Keep my IRA funds and either get a HELOC or cash-out refi on my properties. Mortgage loans are cheap money. You could have a nice war chest for investing and ready access to cash for a rainy day.

My 2 cents