Post AWz1TiLOh93KX0Qcee by renegadejade@hachyderm.io
 (DIR) More posts by renegadejade@hachyderm.io
 (DIR) Post #AWz1TiLOh93KX0Qcee by renegadejade@hachyderm.io
       2023-06-23T12:08:44Z
       
       0 likes, 1 repeats
       
       My new landlord revoked my dog permit yesterday, telling me I need to remove him from the property immediately or be evicted. There was no previous communication and no incident that would have precipitated this. My son has nowhere to go.I am trying to look for a new place now, but I have no short term savings and I live paycheck to paycheck.Does anyone working in the US public sector know about borrowing against my 403b?
       
 (DIR) Post #AWz1VEkThWy5K0synY by corey@psipsistar.com
       2023-06-23T12:44:14Z
       
       0 likes, 0 repeats
       
       @renegadejade I'm sorry to hear about your housing situation - that's awful.I work in qualified retirement plans in the US, so I know a thing or two about plan loans. In general, a 403(b) plan can, but does not have to, offer loans to participants. The maximum amount of a loan is the lesser of 50% of your account balance or $50,000. The loan has to be repaid over 5 years, but it can be longer if the loan is used to acquire a principal residence.
       
 (DIR) Post #AWz1lrOTmqyPoLWT9E by corey@psipsistar.com
       2023-06-23T12:47:14Z
       
       0 likes, 0 repeats
       
       @renegadejade The loan has to be repaid with a "commercially reasonable" rate of interest, I often see plan loans tied to the prime rate which means you are looking at 8-9%.The best thing to do would be to ask your plan administrator (generally your employer) for a copy of the plan's loan policy document. It will lay out all of the details.
       
 (DIR) Post #AWz2CMkxnuCUbrg7nc by corey@psipsistar.com
       2023-06-23T12:52:02Z
       
       0 likes, 0 repeats
       
       @renegadejade The loan has to be repaid with a "commercially reasonable" rate of interest, I often see plan loans tied to the prime rate which means you are looking at 8-9% right now.The best thing to do would be to ask your plan administrator (generally your employer) for a copy of the plan's loan policy document. It will lay out all of the details specific to your plan.