No down payment but want to stop renting? Use your IRA.

First time homebuyers can use up to $10,000 of funds from their IRA tax and penalty free as a down payment when purchasing a home. For married couples the amount increases to $20,000. The best news, for purposes of this regulation, a first time homebuyer is a person who has not owned a home in the past 2 years. Normally, I would not advocate pulling retirement savings money out of an IRA, however, with the current economy an investment into real estate may actually grow faster than a mutual fund in your IRA. Plus you would have the joy of living in your investment and you could finally hang up those family photos and paint the walls. Want more information read the article here by Stephan Fishman.

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