Loans, Debt & Credit - View Single Post - attorney question (and 401K question too)

02-27-2008, 07:11 AM

We can not allow any referral of for profit or fee attorney's or other services on the forum. What we do suggest is that you contact NACA if Marshall is not an option.

NACA is a non-profit organization that will refer to an attorney in your area to assist you in your endeavors.

The one year hiatus that you got from HSBC is better than a lot, most of them are 6 months. I can only imagine your frustration. I am sorry about the 401(K) issues, after having done some very hard research on the subject due to other's on the forum, your plan manager is correct. You have to be in the active process of foreclosure to be considered hardship withdrawal. The possibility and chance of impeding foreclosure does not satisfy the hardship terms that are set forth by the IRS and 401(K) Plans.

It would be my suggestion that if this is a loan that was a result of a refinance that you do have your documents reviewed and have an attorney address the long term issues with this loan.

No HFSC is not reducing principle, none of them are without very egregious appraisal fraud and other violations of Reg Z, TIL and RESPA. That is often why we really stress Qualified Document Review and the Attorney route.

02-27-2008, 07:11 AM	#2 (permalink)
Mary Salzer Guest Posts: n/a	Re: attorney question (and 401K question too) We can not allow any referral of for profit or fee attorney's or other services on the forum. What we do suggest is that you contact NACA if Marshall is not an option. NACA is a non-profit organization that will refer to an attorney in your area to assist you in your endeavors. The one year hiatus that you got from HSBC is better than a lot, most of them are 6 months. I can only imagine your frustration. I am sorry about the 401(K) issues, after having done some very hard research on the subject due to other's on the forum, your plan manager is correct. You have to be in the active process of foreclosure to be considered hardship withdrawal. The possibility and chance of impeding foreclosure does not satisfy the hardship terms that are set forth by the IRS and 401(K) Plans. It would be my suggestion that if this is a loan that was a result of a refinance that you do have your documents reviewed and have an attorney address the long term issues with this loan. No HFSC is not reducing principle, none of them are without very egregious appraisal fraud and other violations of Reg Z, TIL and RESPA. That is often why we really stress Qualified Document Review and the Attorney route.