If so, is there a limited amount of money you can take out, can you do this only once? Do you know the rules behind Roth IRAs? What your allowed to spend ROTH IRA money on? Does that affect your credit score in any way?

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An engineer planning for retirement decides that she wants to have income of 3,703 per year for 20 years with the first withdrawal beginning 30 years from now. If her retirement account earns interest at 8% per year, What is the annual amount she would have to deposit for 29 years beginning 1 year from now?

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Guys, I have a VA mortgage for 5% and now thinking about refinancing through my bank(Wells fargo) under the 5:1 Arms program for 3.25% for 5 years and thereafter 1% increase every year.We are selling this home within next 5 years and thats why we are doing this.So far sounds like a good deal to me. Currently my payment is 64/month which will come down to 50/month.(save around 0/month). The closing cost is only 71 after some credits from the bank. I will break even the closing cost in 8 months and savings for 0.month after that.Good deal, right???

But I want to know whats the catch??? how do the bank benefits from giving me this offer?
Currently I owe 1,000 on my loan and after refinancing , it goes up to 5, 550.

these are the figures. could someone explain it to me as my consultant is not available on weekend.

1. Refinance —1,085
2. Est. prepadi items – $77
3. Est closing cost – 71
4. VA Funding fee – 70
5. Total – 6, 603

6. Other credits(bank credits funding fee) – 70

7.Loan amount (excluding PMI,MIP, Funding fee financed) -4000
8.PMI,MIP,Fundinf fee – 50
Total loan amount – 5,350

I didnt get the item # 7.
where does 274,000 comes from?
What is included in estimated prepaid items?

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I don’t have a lot of money to make large monthly payments but I would rather own then rent. So, I was thinking of purchasing a home that is in foreclosure because the monthly payments will be affordable since the dollar amount is lower. Can something like that really be done?

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for example ‘social’,'economical’ or other type of consequences

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Considering converting some funds from my Traditional IRA to a Roth. I know I will have to pay taxes on it. Can I take a lump sum from the Roth at 59 1/2, without any penalties or taxes? For example a lump sum to pay my mortgage off.

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