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Asked 2/8/2011
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I am about to retire. I took out a loan first time home buyers loan from my 401K account. The Loan is for (10) years but I am retiring. So how do I pay back the remain balance of the loan? I am retiring. I took out a loan from my 401K account, it was for (10) years, for a down payment on a house. I have paid back about $3,000 from payroll deductions. But since I am retiring how are the arrangements made for me to pay the loan back?
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