Another exciting day yesterday. The financing for the mobile home was going to be dependent on income. All I needed was the contract and a verification of employment letter. Well, it is true that I am currently employed, but as of Tuesday, I will be temporary. I went in to talk to our school secretary about the verification of employment letter, but got an icky feeling in my stomach. I couldn’t do it. The basis for loaning us the money for the home was to be equity in our current home, and cash from a 401K, not income. I felt deceptive and I knew that I couldn’t do it. I decided that I would not press the verification of employment letter. Great! I knew I had made the right decision about what not to do. What I did not know was what I SHOULD do. I could feel myself start to freak out, but chose to pray and trust instead. The only way left was to go ahead and draw the money out of the 401K, take the tax penalty and then pay back as much as possible and hope it worked out at the end of the year. I called Vanguard and learned that when I roll the money into an IRA a lot of different rules apply. I don’t need to pay a tax penalty up front and whatever I pay back in 60 days is not subject to taxation at all! Praise God, He has come through again. I’m always a little embarrassed that I am surprised by that. Now, we are going to pay cash for the home. Easy and simple.
I also applied at Books-a-Million. TSC didn’t have anything, but the bookstore was one of the things that I was wanting anyway.
Anna and Melissa painted baseboards and I think they finished this morning.
No comments:
Post a Comment