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On very first look, 401(k) loans noise too good to be true: low interest rate, no credit check, no conventional application. That’s because frequently it’s too good to be real. Regardless if you lose your job if you’re able to pay back a 401(k) loan on schedule, you stand to lose thousands from your retirement savings — and more.
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401(k) loan snapshot
|Exactly What it’s||that loan extracted from your k that is 401 account which you repay with interest over 5 years. (more…)|