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Old 04-04-2007, 01:59 PM   #19 (permalink)
Cynthetiq
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Location: Manhattan, NY
while your money does indeed go with you, if you leave your job, you will probably have to repay the outstanding balance within 30 to 90 days. If you can't make the payment, your loan will be considered in default and the balance will be considered as a taxable withdrawal. If you are under age 59-1/2, you also may have to pay a penalty for early withdrawal.

Most mortgage companies don't allow for subleasing or renting because they have different mortgages for rental properties where the interest rate is generally slightly higher. But it's not like they do bed checks and people can have multiple homes so there is nothing strange if you were to move elsewhere and have them change your address to a new location and still be paying the loan on that property.
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