Withdrawing cash from stocks

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  • #76605
    younghomeseeker
    Participant

    I’ve saved 3 months of payment shock & have my MRF. I’m just waiting for my next appointment to be submitted for qualification. All funds used for payment shock and MRF came directly from my income.

    However, I have money invested in my Robinhood account that I do not plan to use for NACA in any way. An emergency came up, and I’ll need to sell some of my stock/crypto (a few thousand) and withdraw it as cash from my primary checking account. If it has no impact on my payment shock & I write an LOE, will that be sufficient? Or will I no longer be able be eligible for qualification?

    #76607
    Nelsont
    Member

    Go ahead and do that. Write a letter of explanation and keep the receipts. As long as all statements show the transaction and the you have the bill for your emergency you will get qualified without a LOE.

    #76608
    younghomeseeker
    Participant

    Thank you for your response!

    #76609
    TTrumble
    Member

    Hello younghomeseeker,

    An LOE and supporting documents (account statements) should be sufficient.

    Tim Trumble
    Online Operations, NACA

    #76610
    TTrumble
    Member

    Hello younghomeseeker,

    An LOE and supporting documents (account statements) should be sufficient.

    Tim Trumble
    Online Operations, NACA

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