Personal Finance (Not Investing) • Where do I get a loan for $200k

I need to pay $200k to my ex wife or lose my house. I asked for a home equity loan from my mortgage company and they said they won't give it because it's a condo.
I was thinking of getting a $40k personal loan from Discover, a $50k loan from my 401k (I have about $1.2 mil in it) and then getting a 110k margin loan from my brokerage (about 10% interest).

Any other ideas?

Rather than take a margin loan, why not sell what you have in your brokerage account?

Because it’s mostly in NVDA so the capital gains would be huge

So you have a stock which has performed phenomenally well, which is trading at a Price To Earnings Ratio sort of 10x the US market as a whole, and whose products sell into a field which has a "hype bubble" ie "Artificial Intelligence".

And you are afraid to realise some gains?

You'd rather borrow money at 10%? Suppose you do that, and Nvidia goes down 50%, say?

This is a messy situation - your divorce, son etc.

The clear way out is to sell the majority of your Nvidia holding. Pay the tax and give your spouse the $200k and be done.

Statistics: Posted by Valuethinker — Mon Jun 17, 2024 3:01 am — Replies 52 — Views 5195

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