Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Path: utzoo!watmath!clyde!floyd!harpo!decvax!cca!rtc From: rtc@cca.UUCP (Richard Carling) Newsgroups: net.taxes Subject: Can you borrow from an IRA? Message-ID: <6845@cca.UUCP> Date: Mon, 5-Mar-84 11:14:00 EST Article-I.D.: cca.6845 Posted: Mon Mar 5 11:14:00 1984 Date-Received: Tue, 6-Mar-84 03:29:21 EST Lines: 9 A recent net.taxes message said that it was possible to borrow against an IRA for up to 60 days. What institution lets you do this? I would like to sack away $2000 each year in my IRA and then borrow against it when needed (using the IRA as collateral). Instead of paying 15-18% for an unsecured loan, I would be paying only 12% or less for a secured loan (assuming todays loan rates). Does anyplace let you do this? Is it legal? And in general, does anybody know just what guidelines exist in this area.