I am currently unemployed(since March!) and will have unemployment benefits until March, after that the only way I have to pay my mortgage is by withdrawals from my 403b which is valued at 70k. I am 53 yrs old. I have a family of 4 and have been in this house since 95. There is very little equity in the house. My wife makes about 2400 per month. My question is should I take withdrawals from my 403b or move somewhere else. Question #2, where can I move this money to make it more accessible?(IRA?)
Be honest and be true to yourself.
If I were you, I would try to sell the house even for a small profit so it won't ruin your credit, then move to an affordable apartment.
For your 2nd question, go to daveramsey.com and try to access his finanial advisers in your local area. They can help you by directing you properly.
In the meantime, try to live within your means, don't eat out, avoid wasting any resources, and find an immediate job like delivering pizza, newspaper etc.
Good luck to you and I hope your financial situation will be much better.
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