Actually, I'd probably leverage them and dump it into the S&P500 and play the rebound....but that's just me. 

Hey Ray,These are all speculative reasons, but from what I could gather, here are likely possibilities:New Jersey's housing market fell into a slump almost a decade ago, and according to Zillow, average property values have just rebounded to 2011 levels.

I appreciate the suggestion to wait a few more months to see what happens... that may be what we do, but based on my research into the virus & our country's continued lack of testing, I'm not that hopeful for a rebound before the summer. 

So this market will rebound fast as well.

We have significant cash reserves and 75% equity in current RE portfolio of 5 SFR'sWe have several hundred thousand currently in 401kWait until market rebounds to pre-pandemic levels, then...Withdraw $100,000 from 401k, penalty-free, pay taxes over 3 yearsUse $100,000 for 25% down payments on two duplexes (30 year fixed mortgages)

This is also a very safe thing to do as even if the market depresses further it will rebound sharply likely by Q1 or Q2 2021 which will likely double your money. 

This post relates to the ongoing discussion about a recession vs. a temporary pause and strong rebound. 

I believe they are a longer term play and will rebound in the years to come.

That could be good (if the markets fall even further) or bad (if they rebound in a month or two).Now that doesn't sound like the advise this advisor is giving. 

What is the usual impact on your credit score after obtaining a mortgage and how long does it usually take to rebound?