Using my IRA to find a rehab

[Jason Hatfield]

All,

I have a subject to deal locked up and I'm trying to figure out the best way to fund the $20K rehab.

I have an IRA that was rolled over from my previous employers 401K with a balance of about $17K. I also have a 401K with my current employer worth $22K that I can borrow against. Their max loan is 50% meaning I can get $11K putting me half way there.

The question is how do I tap into the IRA without it being a withdrawal subject to the taxes and penalties? I asked my investment broker and he claimed he was not aware of any options.

Thanks