You are going to lose 30% by taking out the 401k in order to repay a loan that is only costing you 17%, so you are losing 13% in the process. Doesn't make any sense to do that. Keep the 401k. Keep paying on the credit line and try to find a way to refinance it. How about getting a low interest credit card and transferring the balance? Do you have home equity you could borrow against? I agree that the 17% is lousy, but cashing out the 401k isn't the way to fix the problem.
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Steve
* Why should I pay for my daughter's education when she already knows everything?
* There are no shortcuts to anywhere worth going.
* The world is a book and those who don't travel read only one page.
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