Due to COVID effecting my residency i no know i will have to leave.

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

But, I do understand they are still effectively pass through entities so their profits, active or passive, are being spit out to you on a K-1 form every year.If you are using a traditional bank (e.g. wells Fargo, Chase, etc.), they have been slapped with so many regulations after the 2008 crash apparently, they are now originating a mere fraction of the loans nowadays and are in the minority. 

I have seen people mention postcards, hand written letters, and so forth, but I want to know what has been effective for the BP community, especially in my area.Thank you all for your time and I look forward to reading the responses!

The repayment terms for a 401k participant loan are equal monthly/quarterly payments of principal and interest (typically prime plus 1%) over a 5 year term (longer if used to acquire your principal residence).Please note that if you take a full $50,000 and then pay back the loan, you can't take another $50,000 until 12 months after the first loan was fully paid back.Per the loan offset rules that went into effect with the 2018 Tax and Job Act: if you leave your job and the loan is current at the time you leave your job but then the loan goes into default because you left your job, you will have until your tax return deadline (including any timely filed extension) to make the loan current by depositing the outstanding balance into an IRA (and thereby avoid the taxes and penalties that would otherwise apply).Please keep in mind the multiple loan rules:Under those rules, the sum of the balances of a participant's outstanding 401k loans under a single 401k plan (using the highest outstanding balance of each loan over the last 12 months) can't exceed 50% or $50,000 whichever is less.

It could also be a great negotiating point, since many buyers will shy away from this.Typically, the sellers would just execute a short term lease with the buyers that takes effect the day of closing, making the buyer an instant landlord. 

In effect, buyers will need to be in better financial standing in order to qualify for a home purchase with a low downpayment.

Any particular template that is especially effective?

There was a bit of back and forth to get an estimate, but eventually it came in VERY high.I tried contacting William McDonnough, but he didn't return my voice mail. 

This new rent will take effect on your [next billing date more than 30 days out].