401k Withdrawal for a house?

Judge Mills said

never Never NEVER TOUCH your retirement for ANYTHING! Especially a house! You'll never be able to recover the compounded interest.. even if your house is worth lots more years from now, it will be hard to make up for it... read up at clarkhoward.com on how to save up for a house.

Click to expand...

Agreed. Every financial expert I've seen interviewed on TV says NEVER Touch your 401K! If you borrow from your 401k and you lose your job, the balance of the loan will be due within 60 days. If it is not repaid in this timeframe (and you’re under 59 ½ years old), then you’ll pay another penalty of 10% on top of taxes. In the current economy and job market, it's best to leave it alone.