In the event that borrower makes his job, people remaining balance due into their 401(k) mortgage, L
In the event that borrower makes his job, people remaining balance due into their 401(k) mortgage, L bal, typically converts to a balloon payment. If he leaves his job and does not repay Lbal within 6090 days, the loan is considered to be in default. It must then be reported to the IRS as a …