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Asked 10/17/2008

What are the allowable reasons to obtain a loan from my 401k?

I want to obtain a loan against my 401k but need to know if I have to have a specific reason for the loan. For example, do I need to have a hardship or can I use it to build a pool? Also, how long does it take from the time the loan is requested to when one actually gets a check.

 
 
 
 
 
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