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8 August 2020 | 2 replies
Please note that per the multiple loan rules, the amount of the loan must be reduced by the highest outstanding balance of any other 401k participant loan over the prior 12 months (regardless of whether such other loan is currently outstanding).Monthly or Quarterly Payments: The loan must be paid back in equal monthly or quarterly payments of principal and interest.Interest Rate: The interest rate is equal to prime plus 1% (or CD rate plus 2%) and is a fixed rate that is set at the time that the loan is taken.Term of the Loan: Five-year term unless the proceeds of the loan are used to purchase a primary residence in which case the term of the loan may be up to 30 years.First Payment:For monthly payments, the first payment that would otherwise be due is delayed until January 2021 (e.g. if the first monthly payment would have been due on May 15, 2020, it will be due on January 15, 2021).For quarterly payments, the first payment that would otherwise be due is delayed until the first quarter of 2021 (e.g. if the first quarterly payment would have been due on May 15, 2020, it will be due on February 15, 2021).EXISTING LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.If you meet the above conditions:You may delay making any 401k loan payments due between 3/27/2020 and 12/31/2020.You must commence making loan payments in January 2021 (or the first quarter of 2021 if your loan payments are due on a quarterly basis).If you elect to delay making such loan payments, the term of your loan will be appropriately extended.
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10 August 2020 | 4 replies
The seller has listed that this is a short sale, which I had to google what short sale meant.
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8 August 2020 | 3 replies
Water, elect separately metered and paid by tenant.
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9 August 2020 | 5 replies
Meant to write 5.19%/year.
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19 January 2021 | 4 replies
Sorry that wasn’t meant to be a cryptic question I’m just new here.
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12 August 2020 | 37 replies
Has anyone come up with strategies or ideas of what they would do differently if Biden wins the election?
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11 August 2020 | 6 replies
I meant can a LLC borrow money from individuals.
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9 August 2020 | 2 replies
I've decided to work with both types of investors, and that has meant spending time building relationships with them.Step 2: Find investors.Now that you understand the need to build your foundation for raising capital early on, I'd like to talk about finding investors.
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26 May 2021 | 114 replies
Fact is right now there is a major labor SHORTAGE, business are TRYING to hire left right and center, issue is people are electing not to work, to rather use entitlements vs working, so call call bs on that lame duck argument, our #1 problem is persons not engaging in the workforce out of entitlement mindset, not unemployment.