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Daria Dolan: I love when we get to talk to Wallet Poppers. Hi, poppers. It’s the Dolans. We’re here to answer your questions.
Ken Dolan: Ken and Daria again. We’re so glad you joined us. We combined more than forty years of experience in money matters and we’re so glad to get your questions. Okay, question from Annette. I never have been really hit by the housing problems there because he has a business that sells to home builders, construction material and believe it or not, the state will have and also herself works for an architectural firm. Her question is her income is down twenty five percent. We are here at Dolans while a fellow Wallet Poppers were hurting. We’re thinking of a hardship withdrawal from our 401K. I know you don’t like that. We don’t. Are there any other options? Well, we don’t like the withdrawals except in emergency. This might be an emergency.
Daria Dolan First off, before you start tapping any money and really in edit would be so much more helpful if you would have included little bit more information about where your problems are. Can you make your mortgage payments or can’t you? Are you thinking credit card at minimum payments or not? What kind of debt do you have? Since we don’t have that information, our last line of defense and that is like because they’re about to put the couch out on the street in front of a house for hardship withdrawal. If it’s mortgage troubles, there is help available.
Ken Dolan: Exactly. We did an interview not long ago on our national radio show with the president of the Home Ownership Preservation Fund. It’s a partnership with consumer’s policy makers and mortgage lending companies around America. It was put together by a government gang and the president was really, really nice. She really knew what she was talking about. So what you may want to do in that in hobby is go to www.995hope.org which is pretty much with the phone numbers.
Daria Dolan: Yeah. 1-888 instead of 1-800, 1-888-995-HOPE
Ken Dolan: The Home Ownership Preservation Fund; the good people.
Daria Dolan: But my other tip is you and your husband sit down and go through all your monthly spending. See where there’s got to be a gap somewhere that could be closed that might free up a few more dollars. That’s imperative that you take a look at your spending as well.
Ken Dolan: Our last choice Annette and hubby would be a 401K withdrawal. Good luck and then let us know how you do.
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