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Have any NYC Teachers taken a lump sum of $ out of your retirement for the purchase of your first home?
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BabyLove08
Love her!
Member since 2/08 3673 total posts
Name:
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Have any NYC Teachers taken a lump sum of $ out of your retirement for the purchase of your first home?
Is that even possible? Not a loan-just a lump sum-anyone know if the system allows that?
Thanks
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Posted 7/9/13 2:57 PM  |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: Have any NYC Teachers taken a lump sum of $ out of your retirement for the purchase of your first home?
Pretty sure you cannot do that. Did you call TRS? They are very helpful.
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| Posted 7/10/13 11:02 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: Have any NYC Teachers taken a lump sum of $ out of your retirement for the purchase of your first home?
You can borrow against your TDA not sure about any other borrowing allowed.
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| Posted 7/10/13 11:16 PM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: Have any NYC Teachers taken a lump sum of $ out of your retirement for the purchase of your first home?
You can borrow against your TRS.
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| Posted 7/11/13 11:58 AM |
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sunnygirl
loving life
Member since 1/07 5413 total posts
Name:
D
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Re: Have any NYC Teachers taken a lump sum of $ out of your retirement for the purchase of your first home?
It has to be a loan
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| Posted 7/12/13 9:23 PM |
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NewMrs7312
LIF Adult
Member since 12/12 977 total posts
Name:
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Re: Have any NYC Teachers taken a lump sum of $ out of your retirement for the purchase of your first home?
Someone I work with borrowed a lump sum for his down payment- I think he had said TRS. But I will tell you- 4 years later and he said it was the worst mistake he made. Don't know full details, but when we were talking about buying houses one time, he mentioned regretting it.
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| Posted 7/20/13 10:54 PM |
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