From: joetaxpayer 
Newsgroups: misc.invest.financial-plan
Subject: Re: Heloc-pay off 401k loan
Date: Thu, 2 Aug 2007 14:20:25 -0500
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Marty wrote:

> Hi Group
> 
> Can a person apply for an equity line of credit to pay off a 401k loan
> if one loses his(her) job? The 401k loan is already reality with 3 years
> left on the balance.Losing the job could be in two months, two years, in
> between,or never.
> 
> I know the key would be to take out the line before one loses the
> job.Right? Are their any fees(upfront or annual) involved if one ends up
> not using the line?

My HELOC had no opening fees at all, as I set it up with the same bank 
as the first mortgage. $50/year fee. Good idea to set this up now, it's 
far tougher to get a decent rate when jobless.
JOE