Updated over 1 year ago on . Most recent reply
Lend from your ROTH, loan in default, can you pay it back?
You create a loan from your Roth IRA for say 20,000. The loan goes into default, it's a lost investment and you won't see those funds again.
Rather than writing the loan off, having 20,000+ less to lend and have it take 3 years to put it back yourself via ROTH contribution limits (7k/year), can someone else pay the loan back for the borrower? Can you pay the loan back for the borrower?
Many thanks and great success investing