With mortgage companies nowadays, it works only if they agree. You are far better off with saving up money then once or twice a year making an extra principal payment toward your balance. Once you do this, ask them to re-amortize your loan. Some companies will do this automatically, some don’t.

Then out of these options what am I even supposed to check for a cash out?

Trying to cash my 401K out since I never signed up for it. Which option do I do?

A lump sum cash distribution of my vested balance, less any income tax withholding. A direct rollover of my vested balance to an IRA or a qualified retirement plan. A direct roll over of a portion of my vested balance, with the remaining amount paid as a cash distribution, less any income tax withholding.

The problem was me even being on this when they never asked me too. I need money for bills and if I’m able to get this money then I’m taking it.

honestly bro you went for spite with this comment and there was no need for that. It's like the spite coming out from a mechanic. I'm not trying to get that broski.

Sometimes you can get the cost of the car lowered if you finance from the dealership. In that case, sign up for their financing & turn around and pay the entire loan off with payment #1.

Credit Unions are genuinely great. They are structured where you are a "member" instead of a "customer". Many credit unions also have everything you need in terms of products and value.

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Is that a program I should look into? Or is it just something that companies know about for first time buyers?

I was responding to a comment that said "they don't care how long it takes" and "re-payment plans can be a lifetime," which is not true, because tax debt eventually expires and the IRS absolutely cares about you paying it before that date. As you can see, by the text you quoted and highlighted, the IRS will levy you if they think they can be paid before the CSED expires.

YOU then said "the debt doesn't 'expire' if it's being serviced though payments" which is just 100% false.

I was not suggesting OP try to run out the clock, that's a terrible idea. I'm just trying to correct the misinformation that is rampant in this sub from people who don't know what they're talking about, giving advice on what they "feel" is correct or how it "should" work instead of how it actually works.

They probably charged add-ons as well… wheel locks, all weather floormats, paint protection, etc, etc. That’s how they make their money.

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> Yes on the present like bills and groceries.

That's the problem. You're not performing a direct rollover. That's not the right option.

You should really really really reconsider proceeding with your plan.

Not only will you be paying ordinary income tax, you will also pay a 10% penalty.

It's like having $100 in your pocket and then choosing to light probably $30 on fire in order to spend $70.

Do you like lighting your own money on fire?

My thought is that they would have not let you graduate if you owed the university money. Did you receive a Diploma? Have you run your credit report on a regular basis? As long as you have your degree, this debt (if legit) is way too old to even worry about. Also, they are required to give you a statement of what you actually owe so something shady is going on.

Well there you go then. Because that's essentially what you'd be doing if you used a loan to buy a car instead of your current investments/liquidity

I'd check your credit report to see if anything from them or the university appears. If the school can't give you direct info and the agency can't give you more information than "you owe us money" I'd assume its fraudulent and dispute the charge with the credit agency if it appears at all. Does the guy on the phone have an accent? Sounds scammy to me.

Lol. OK 2 years of experience, I'll call you next time I need help Dr expert.

Do you mean would I borrow $40,000 from Tony Soprano at 5-6% to invest into VTI?
No, I most definitely wouldn't. Him or the bank.

25 is not a steep drop. Any number of things...Company's methods and algorithms are proprietary and not available to the public

Number of days in the month the score was calculated, change in their algorithm used to calculate the score, change in credit utilization (up or down), usage/activity, change of address, market factors, a company accidentally put an extra letter in your name so now you have an "alias" on your report, etc.

I’d recommend SoFi banking instead of a credit union as their rates are currently 3.75% on saving and 2.5% on checking when you set up direct deposit. Most checking accounts are 0.01% so their 2.5% is subject to change as they gain market share.

Look into nerdwallet and see how the best ones compare.

Depending on where you are looking to buy - there are loans out there geared towards lower income/rural placement as a way to bring new people into the communities. There are guidelines and such but it's an avenue I feel like a lot of new homebuyers don't know about.

As the other replies indicate, even if they don't come right out and say it, you won't know. Not for sure. Especially if your work and finance situations changed during 2022. But everyone is SUPPOSED to get your documents to you by January 31. (If they can't, they're supposed to send you a notice telling you that a certain form is coming and estimating when it will drop. Charles Schwab does this to me every year.) So I usually wait to file until the second week in February (by which time Chuck Schwab finally has his act together) when I can safely assume I have everything I'm going to get. This system has yet to fail me.

I'm fully remote at my company and there was even an email stating they do not amend w-2s, my hr/401k department is outsourced to India, so it just as messy. I literally have to wait a week between emails to get a response and they just as clueless as me.... You think withdrawing like $500 would be enough as a regular distribution or should waiting 40+ years for this small problem be enough.

Doesn't getting a quote require pulling my credit? I don't want to take a hit for an inquiry.

Would you borrow at 5-6% to invest?

If not, you should pay cash

No that’s the packet of paper that got lost while moving I didn’t keep it in my car cuz of the sensitive information but I definitely didn’t have it put away properly and I really regret that currently seeing if the dealership is willing to provide me with a copy its been less then a year so there is no way that they trashed it but they are apparently not required to share that with me so I’m hoping that they will give me that information